Richard Ercole

Title: Richard Ercole: Innovator in Payment Systems

Introduction

Richard Ercole is a notable inventor based in Westerville, OH (US). He has made significant contributions to the field of electronic commerce, particularly in developing innovative payment systems. With a total of 2 patents, his work has the potential to transform how financial transactions are conducted.

Latest Patents

One of Richard Ercole's latest patents is a real-time bank-centric universal payment system. This infrastructure defines a central processing system (CPU) that establishes an electronic commerce trust system. It is formed from a plurality of financial service provider members subscribing to a common standard applicable throughout the infrastructure. The CPU is interconnected to correspondent processing units of financial service provider members, which are also connected through access mechanisms to a network of customers and goods and services providers. This system allows for non-revocable real-time debit and credit transactions and effects net settlement among members through a central exchange monetary system. Features of this infrastructure include an ECTS hot file, bill presentment and payment options, and provider-designed services that enhance brand identity.

Career Highlights

Richard has worked with prominent companies such as Huntington Bancshares Incorporated and Hewlett-Packard Company. His experience in these organizations has contributed to his expertise in financial services and technology.

Collaborations

Some of Richard's notable coworkers include William M. Randle and Terry L. Geer. Their collaboration has likely played a role in the development of innovative solutions in the financial sector.

Conclusion

Richard Ercole's contributions to the field of payment systems demonstrate his commitment to innovation and excellence. His patents reflect a deep understanding of the complexities of electronic commerce and the need for secure, efficient financial transactions.