The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 27, 2021
Filed:
Apr. 28, 2017
Wells Fargo Bank, N.a., San Francisco, CA (US);
Eileen Johnstone, Ventnor, NJ (US);
Michael Knorr, Fairfield, CT (US);
Thomas R. Miller, Levittown, PA (US);
Catherine Wangari Mwangi, Hackensack, NJ (US);
Mercedes Roldan-Colon, Bala Cynwyd, PA (US);
Jessica A. Weng, San Francisco, CA (US);
Wells Fargo Bank, N.A., San Francisco, CA (US);
Abstract
A computer-implemented method performed by an access economy payment system includes receiving a request from a consumer to commission an access economy service. The method also includes generating a smart contract based on the requested access economy service and generating a consumer sub-account associated with a consumer financial account and a supplier sub-account associated with a supplier financial account. The method further includes allocating funds to the supplier sub-account and placing a financial hold on the funds allocated to the supplier sub account. The method also includes detecting the initiation of performance of the requested access economy service, monitoring the performance of the initiated access economy service, increasing a financial hold on the funds allocated to the consumer sub-account, and decreasing the financial hold on the funds allocated to the supplier sub-account in real-time based on each of the monitored performance and the terms of the smart contract.