Jpmorgan Chase Bank, N.a.

U.S. Bank National Association

Matthew W Hankins

Mark Dickelman

William Frederick Mann, Iii

William F Mann, Iii

The invention comprises a system and method for 'waterfall' type payment processing using multiple alternative payment sources. A payor provides account information for multiple payment sources, such as a bank checking account, savings account, first credit card account, second credit card account, and so forth. The multiple payment sources are prioritized so that one is a primary payment source, another is a secondary payment source, another is a tertiary payment source, and so forth. After setting up the waterfall payment arrangement, when a bill becomes due a payee or third party payment administrator submits transactions against the payment sources in their order of priority until the payment is satisfied. Other variations and enhancements are disclosed.

Growing community of inventors

Chicago, IL, United States of America

Matthew W Hankins