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. 24, 2007
Filed:
Oct. 29, 2001
Susan M. Milberger, Englewood, CO (US);
Jeff D. Sherrard, Lakewood, CO (US);
Amy M. Dunker, Castle Rock, CO (US);
Jackie M. Macfarlane, Parker, CO (US);
Eric L. Platte, Castle Rock, CO (US);
Susan F. Abrahams, Atlanta, GA (US);
Cheryl L. Neofytides, Floral Park, NY (US);
Aamer Ali Baig, Forest Hills, NY (US);
Peter M. Karas, Lakewood, CO (US);
James E. Cowell, Littleton, CO (US);
James R. Yoder, Chicago, IL (US);
Matt F. Golub, Tera Fly, NJ (US);
Susan M. Milberger, Englewood, CO (US);
Jeff D. Sherrard, Lakewood, CO (US);
Amy M. Dunker, Castle Rock, CO (US);
Jackie M. Macfarlane, Parker, CO (US);
Eric L. Platte, Castle Rock, CO (US);
Susan F. Abrahams, Atlanta, GA (US);
Cheryl L. Neofytides, Floral Park, NY (US);
Aamer Ali Baig, Forest Hills, NY (US);
Peter M. Karas, Lakewood, CO (US);
James E. Cowell, Littleton, CO (US);
James R. Yoder, Chicago, IL (US);
Matt F. Golub, Tera Fly, NJ (US);
First Data Corporation, Englewood, CO (US);
Abstract
According to the invention, a method for automatically processing a recurring transfer request from a stored value fund with an online system is disclosed. A handler associated with a payor is determined and money is transferred from that handler to the stored value fund. In one step, the payor is informed that a payee accepts payment from the online system. Subscription type information is received, which includes at least two of a per-request payment cap, a fixed payment amount, a limit on payment per time period, a limit on the number of payments in the time period, and a time period. Pay-out instructions are also received and include at least two of a payor identifier, a payee identifier, a transfer amount, a payment description. The transfer amount is automatically sent from the stored value fund to the payee.