SYSTEM AND METHOD FOR MANAGING ALLOCATION OF FUNDS BETWEEN A PLURALITY OF ENTITIES

• US 20090327128A1
• Filed: 09/04/2009
• Published: 12/31/2009
• Est. Priority Date: 08/08/2000
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Olliphant, Hugo
• Granted Patent: US 8,484,127 B2
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Embodiments of the present invention provide a system and method for managing allocation of funds between a plurality of entities. In example embodiments, details of a remuneration to the plurality of entities are received. The remuneration relates to at least one transaction. Funds associated with the remuneration are allocated among the plurality of entities to be remunerated based on at least a portion the details of the remuneration.

Claims

1. A computer-implemented method executed by a computing device, the method comprising:

receiving details of a remuneration to a plurality of entities, the remuneration relating to at least one transaction; and

allocating funds among the plurality of entities based on at least a portion of the details of the remuneration.

2. The computer-implemented method of claim 1, further comprising settling the transaction through an electronic network.

3. The computer-implemented method of claim 2, wherein the settling comprises transferring the allocated funds to an account of at least one individual entity of the plurality of entities.

4. The computer-implemented method of claim 2, wherein the settling comprises collecting a credit card electronic deposit.

5. The computer-implemented method of claim 2, wherein the settling comprises collecting an electronic check deposit.

6. The computer-implement method of claim 2, wherein the settling comprises using a person-to-person payment provider.

7. The computer-implemented method of claim 1, wherein the details are associated with a purchase of a good or service.

8. A machine-readable storage medium in communication with at least one processor, the machine-readable storage medium storing instructions which, when executed by the at least one processor provides a method, the method comprising:

receiving details to remunerate a plurality of entities;

determining an allocation of funds between the plurality of entities based on the details; and

allocating the funds among the plurality of entities to be remunerated.

9. A computer-implemented method executed on a computing device, the method comprising:

receiving funds for distribution to a plurality of entities;

determining an allocation of the funds between the plurality of entities; and

transferring a respective allocation of the funds to at least one entity of the plurality of entities.

10. The computer-implemented method of claim 9, wherein the receiving of the funds is performed through an electronic network.

11. The computer-implemented method of claim 9, wherein the receiving of the funds comprises collecting a credit card electronic deposit.

12. The computer-implemented method of claim 9, wherein the receiving of the funds comprises collecting an electronic funds transfer.

13. The computer-implemented method of claim 9, wherein the transferring of the respective allocation of the funds comprises transferring the respective allocation of the funds to an account of the at least one entity of the plurality of entities.

14. The computer-implemented method of claim 9, wherein the funds are associated with more than one transaction.

15. The computer-implement method of claim 9, wherein the receiving comprises using a person-to-person payment provider.

16. The computer-implemented method of claim 9, wherein the transmitting comprises using a person-to-person payment provider.

17. The computer-implemented method of claim 9, wherein the receiving and transmitting comprises using a person-to-person payment provider.

18. A machine-readable storage medium in communication with at least one processor, the machine-readable storage medium storing instructions which, when executed by the at least one processor provides a method, the method comprising:

receiving funds for distribution to a plurality of entities;

determining an allocation of the funds between the plurality of entities; and

transferring a respective allocation of the funds to at least one entity of the plurality of entities.

19. The machine-readable storage medium of claim 18, wherein the receiving of the funds is performed through an electronic network.

20. The machine-readable storage medium of claim 18, wherein the receiving of the funds comprises collecting a credit card electronic deposit.

21. The machine-readable storage medium of claim 18, wherein the receiving of the funds comprises collecting an electronic funds transfer.

22. The machine-readable storage medium of claim 18, wherein the transferring of the respective allocation of the funds comprises transferring the respective allocation of the funds to an account of the at least one entity of the plurality of entities.

23. The machine-readable storage medium of claim 18, wherein the funds are associated with more than one transaction.