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Member-supported mobile payment system

  • US 8,249,965 B2
  • Filed: 03/30/2007
  • Issued: 08/21/2012
  • Est. Priority Date: 03/30/2006
  • Status: Expired due to Fees
First Claim
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1. A method comprising:

  • receiving, via a computer network, a plurality of merchant contributions to fund a member payment system;

    placing the merchant contributions into at least one pooled trust account, wherein the contributions are recorded on a server and merchants will not receive interest on their contributions;

    permitting a plurality of consumers to become registered users of the member payment system without charge via a network;

    permitting registered users to send instructions to a server to load or unload funds into a working account of the member payment system without charge;

    permitting merchants to load or unload funds into the working account of the member payment system without charge, anddistributing, via a server, interest on at least one pooled trust account to fund the member payment system.

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