Method and System to Create and Distribute Excess Funds From Consumer Spending Transactions

• US 20060206420A1
• Filed: 05/31/2006
• Published: 09/14/2006
• Est. Priority Date: 02/18/1993
• Status: Active Grant

• Current Assignee: Bertram V. Burke
• Original Assignee: Bertram V. Burke
• Inventors: Burke, Bertram V.
• Granted Patent: US 7,571,849 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• 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

Abstract

An improved system for consumer payors to save and donate whenever they use cash at a point of sale terminal, write a check, use an ATM machine, or use a credit or debit card. The POS system is a network composed of subscriber/payors, neutral merchant/collectors, a central clearinghouse, and provider accounts. The Rounder system is a network composed of subscriber/payors, payees, account managers, and provider services. The systems together provide subscriber/payors with a seamless way to save/donate every time they spend.

Claims

1. (canceled)

2. (canceled)

3. (canceled)

4. (canceled)

5. (canceled)

6. (canceled)

7. (canceled)

8. (canceled)

9. (canceled)

10. (canceled)

11. (canceled)

12. (canceled)

13. (canceled)

14. (canceled)

15. A method for performing a payment transaction, the method comprising:

electronically receiving, in connection with the payment transaction, a determinant, apportioning data, payment transaction data comprising a transaction amount, and operating account identifying data that identifies an operating account;

generating a rounder amount based on the transaction amount and the determinant;

modifying a balance of the operating account based on the transaction amount and the rounder amount;

apportioning at least a portion of the rounder amount to one or more other accounts selected by a holder of the operating account; and

depositing the apportioned parts of the rounder amount to the one or more other accounts.

16. A method as in claim 15, wherein generating a rounder amount is performed after receiving each payment transaction.

17. A method as in claim 15, wherein generating a rounder amount is performed after receiving a plurality of payment transactions.

18. A method as in claim 15, wherein generating a total rounder amount for a plurality of transactions is generated based on the plurality of transactions and the determinant.

19. A method as in claim 15, wherein modifying a balance of an operating account on the basis of the transaction amount and rounder amount is performed after generating each rounder.

20. A method as in claim 15, wherein modifying a balance of an operating account on the basis of a payment amount and a rounder amount is performed after generating a plurality of rounder amounts.

21. A method as in claim 15, wherein modifying a balance of an operating account on the basis of a total rounder amount is performed after modifying the operating account on the basis of a plurality of transactions.

22. A method as in claim 15, wherein apportioning is performed after each modifying the balance.

23. A method as in claim 15, wherein apportioning is performed after a plurality of modifying the balance.

24. A method as in claim 15, wherein apportioning a total rounder amount for a plurality of transactions is performed after modifying the balance based on the plurality of transactions and the total rounder amount.

25. A method as in claim 15, wherein depositing the apportioned parts of a rounder amount, to one or more other accounts, is performed after each apportioning of a rounder amount.

26. A method as in claim 15, wherein depositing the apportioned parts of a rounder amount, to one or more other accounts, is performed after a plurality of apportioning a rounder amount.

27. A method as in claim 15, wherein depositing the apportioned parts of a total rounder amount, to one or more other accounts, is performed after each apportioning of a total rounder amount.

28. A method as in claim 15, wherein depositing the apportioned parts of a total rounder amount, to one or more other accounts, is performed after apportioning a plurality of a total rounder amounts.