Company Filing History:
Years Active: 2013-2019
Title: The Innovative Journey of Scott A. Weigman
Introduction
Scott A. Weigman, based in Charlotte, NC, is a prominent inventor with a remarkable portfolio of seven patents. His contributions to the field of transaction auditing and cost recovery showcase his commitment to enhancing financial technologies and consumer protection in commercial transactions.
Latest Patents
Among his latest patents, Scott has developed a groundbreaking system known as the "Surcharge Violation Registry." This invention provides an apparatus and methods for auditing transaction records, particularly focusing on credit card transactions. The system identifies unlawful surcharge violations and double surcharging patterns, ensuring compliance with consumer rights. In addition, it facilitates a mobile wallet application that allows consumers to report and access merchant surcharge compliance activities, including receipt scanning for authenticity checks.
Another significant patent is related to "Merchant Category Code (MCC) Based Acceptance Cost Recovery." This method addresses transaction costs originating from merchant locations associated with specific merchant category codes. It provides a means to recover transaction costs on low-value purchases, with a dynamic adjustment feature that supports adequate notifications for changes. Scott's inventions reflect a keen understanding of the complexities involved in financial transactions and consumer engagement.
Career Highlights
Scott A. Weigman is associated with Bank of America Corporation, where he applies his innovative mindset to solve complex challenges in the banking and finance sector. His expertise in transaction auditing and cost recovery not only benefits consumers but also streamlines operations for financial institutions.
Collaborations
Throughout his career, Scott has collaborated with professionals such as Matthew D. Murphy and Elbert Lee Whitler. These partnerships have enhanced the development of his patents and fostered a culture of innovation within his team.
Conclusion
Scott A. Weigman's contributions to the field of financial technology through his patents are instrumental in driving positive change in transaction auditing and consumer rights. His work reflects a proactive approach to addressing modern challenges in banking and commerce, paving the way for a more transparent and efficient future for consumers and merchants alike.