Location History:
- Greenwich, CT (US) (2018)
- Purchase, NY (US) (2012 - 2020)
Company Filing History:
Years Active: 2012-2020
Title: Pino Luongo: Innovator in Transaction Processing Technologies
Introduction
Pino Luongo is a notable inventor based in Purchase, NY (US), recognized for his contributions to transaction processing technologies. With a total of 5 patents, Luongo has made significant strides in automating sales tax payment systems and improving merchant transaction processing.
Latest Patents
One of Luongo's latest patents is an automated sales tax payment system. This invention describes technologies related to transaction processing, including methods for calculating tax amounts associated with a transaction and obtaining approval for the transaction price and tax amounts. The system ensures that, after obtaining approval, a revenue portion of the transaction is settled in favor of a first account, while the tax amounts are settled in favor of a second account.
Another significant patent is a system and method for allocating charges away from a tax account. This transaction processing system includes a computer with a processor and memory, designed to process merchant transactions. It features a separator module that separates funds associated with the transaction, ensuring that the revenue portion is settled in favor of the merchant's account, while the tax portion is settled in favor of a different account.
Career Highlights
Throughout his career, Pino Luongo has worked with various companies, including Stac Media, Inc. and Stac IP, LLC. His work has focused on enhancing transaction processing systems, making them more efficient and reliable for merchants.
Collaborations
Luongo has collaborated with notable individuals in the field, including William E. Gordon and Jack Kane. Their combined expertise has contributed to the development of innovative solutions in transaction processing.
Conclusion
Pino Luongo's work in transaction processing technologies has paved the way for more efficient systems in handling sales tax and merchant transactions. His patents reflect a commitment to innovation and improvement in the financial technology sector.