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:
May. 20, 2014
Filed:
Dec. 10, 2012
Bank of America Corporation, Charlotte, NC (US);
Thomas J. Durkin, Chicago, IL (US);
Alex Y. Yang, Atlanta, GA (US);
Doug J. Carlson, New York, NY (US);
Brian G. Higgins, Los Angeles, CA (US);
Christopher Hope, Toonbridge, GB;
Savit A. Pirl, Bolingbrook, IL (US);
Milton Santiago, Chicago, IL (US);
Bank of America Corporation, Charlotte, NC (US);
Abstract
Apparatus for coordinating a rule-based relationship between a bank, a vendor and a merchant is provided. The apparatus may include a vendor data platform, a vendor payment platform and a vendor clearing platform. The vendor data platform may receive a vendor name, a vendor identification number and vendor banking information and may this information into a third party database maintained by a third party. The vendor payment platform may receive the vendor identification number and a payment amount electronically associated with the vendor identification number without the banking information and transmit, to the third party, the vendor identification number and the payment amount. The vendor clearing platform may receive, from the third party, the payment amount and the banking information, and may transmit information to a clearing house. The information may initiate a transfer of funds into a vendor bank account.