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

• US 20100191629A1
• Filed: 04/01/2010
• Published: 07/29/2010
• Est. Priority Date: 08/08/2000
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Inventors: Olliphant, Hugo
• Application Number:
  US12/752,976
• Publication Number:
  US 20100191629A1
• Time in Patent Office: Days
• US Class Current: 705/30
• 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 and the received details identify a list of individuals to be remunerated and an amount of the remuneration to be allocated to each of the individuals on the list. 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 method comprising:

receiving details of a remuneration, the remuneration relating to at least one transaction and the received details identifying a list of individuals to be remunerated and an amount of the remuneration to be allocated to each of the individuals on the list; and

allocating, using one or more processors, the remuneration among the individuals based on the received details.

2. The method of claim 1, wherein the receiving of the details of the remuneration is received via a graphical user interface.

3. The method of claim 1, wherein the receiving of the details of the remuneration comprises constructing a table including the individuals and the amount for each of the individuals.

4. The method of claim 1, further comprising saving the details of the remuneration,

5. The method of claim 4, wherein the saving of the details of the remuneration occurs prior to the allocating of the remuneration.

6. The method of claim 1, wherein the details of the remuneration are associated with a purchase of a good or service.

7. The method of claim 1, wherein the amount is provided separately for each of the one or more individuals.

8. The method of claim 1, wherein the amount is based on an even split.

9. The method of claim 1, wherein the allocating of the remuneration comprises causing a transfer of the amount for each of the individuals to an account associated with each of the individuals.

10. The method of claim 1, wherein the details of the remuneration further comprises account details for each of the individuals.

11. The method of claim 10, wherein the account details are for an account at a financial institution.

12. 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 comprising:

receiving details of a remuneration, the remuneration relating to at least one transaction and the received details identifying a list of individuals to be remunerated and an amount of the remuneration to be allocated to each of the individuals on the list; and

allocating, using one or more processors, the remuneration among the individuals based on the received details.

13. The machine-readable storage medium of claim 12, wherein the receiving of the details of the remuneration is received via a graphical user interface.

14. The machine-readable storage medium of claim 12, wherein the receiving of the details of the remuneration comprises constructing a table including the individuals and the amount for each of the individuals.

15. The machine-readable storage medium of claim 12, wherein the details of the remuneration are associated with a purchase of a good or service.

16. The machine-readable storage medium of claim 12, wherein the amount is provided separately for each of the one or more individuals.

17. The machine-readable storage medium of claim 12, wherein the amount is based on an even split.

18. The machine-readable storage medium of claim 12, wherein the allocation of the remuneration comprises causing a transfer of the amount for each of the individuals to an account associated with each of the individuals.

19. The machine-readable storage medium of claim 12, wherein the details of the remuneration further comprises account details for each of the individuals.

20. The machine-readable storage medium of claim 19, wherein the account details are for an account at a financial institution.