Method and system for processing recurring payments
First Claim
1. A computer-implemented system for processing payments at a programmed computer processor at a payment engine which communicates via a network, the system comprising:
- a paying entity interface configured to an electronic payment file at a payment engine, wherein the electronic payment file is electronically transmitted via the network from a paying entity,a payment module configured to identify a payee based on information in the electronic payment file, a payment amount for the payee for a payment based on a pre-existing contract between the paying entity and the payee for recurring payments to the payee, and a payment method for the payee based on a payee profile associated with the payee; and
a distribute payment module configured to distribute the payment amount via the payment method to the payee;
wherein the payee is a member of a group, the group managing payments for the payee and other payees, wherein the group is organized of at least one of actors, writers, agents, musicians, contractors, performers, athletes, investors, and corporate entities.
1 Assignment
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Accused Products
Abstract
According to an embodiment of the present invention, a computer implemented method and system for processing payments may involve receiving a payment file from a paying entity; identifying at least one payee from the payment file; identifying a payment amount for the at least one payee for a contribution based on a pre-existing contract between the paying entity and the at least one payee for recurring payments to the at least one payee; identifying a payment method for the at least one payee from a payee profile; and distributing the payment amount via the payment method to the at least one payee; wherein a group manages the recurring payments for the at least one payee.
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Citations
34 Claims
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1. A computer-implemented system for processing payments at a programmed computer processor at a payment engine which communicates via a network, the system comprising:
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a paying entity interface configured to an electronic payment file at a payment engine, wherein the electronic payment file is electronically transmitted via the network from a paying entity, a payment module configured to identify a payee based on information in the electronic payment file, a payment amount for the payee for a payment based on a pre-existing contract between the paying entity and the payee for recurring payments to the payee, and a payment method for the payee based on a payee profile associated with the payee; and a distribute payment module configured to distribute the payment amount via the payment method to the payee; wherein the payee is a member of a group, the group managing payments for the payee and other payees, wherein the group is organized of at least one of actors, writers, agents, musicians, contractors, performers, athletes, investors, and corporate entities. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer-implemented method for processing payments, where the method is executed by a programmed computer processor at a payment engine which communicates via a network, the method comprising the steps of:
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receiving an electronic payment file at a payment engine, wherein the electronic payment file is electronically transmitted via the network from a paying entity; identifying, by the payment engine, a payee based on information in the electronic payment file, a payment amount for the payee for a payment based on a pre-existing contract between the paying entity and the payee for recurring payments to the payee, and a payment method for the payee based on a payee profile associated with the payee; and distributing the payment amount via the payment method to the payee; wherein the payee is a member of a group, the group managing payments for the payee and other payees, wherein the group is organized of at least one of actors, writers, agents, musicians, contractors, performers, athletes, investors, and corporate entities. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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34. A computer readable non-transitory medium encoded with computer executable instructions to perform the acts of:
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receiving an electronic payment file at a payment engine, wherein the electronic payment file is electronically transmitted via the network from a paying entity; identifying, by the payment engine, a payee based on information in the electronic payment file, a payment amount for the payee for a payment based on a pre-existing contract between the paying entity and the payee for recurring payments to the payee, and a payment method for the payee based on a payee profile associated with the payee; and distributing the payment amount via the payment method to the payee; wherein the payee is a member of a group, the group managing payments for the payee and other payees, wherein the group is organized of at least one of actors, writers, agents, musicians, contractors, performers, athletes, investors, and corporate entities.
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Specification