Method and system to create and distribute excess funds from consumer spending transactions

• US 7,571,849 B2
• Filed: 05/31/2006
• Issued: 08/11/2009
• Est. Priority Date: 02/18/1993
• Status: Expired due to Fees

• Current Assignee: Bertram V. Burke
• Original Assignee: Bertram V. Burke
• Inventors: Burke, Bertram V.
• Primary Examiner(s): Hess; Daniel A
• Application Number:
  US11/421,113
• Publication Number:
  US 20060206420A1
• Time in Patent Office: 1,168 Days
• Field of Search: 235/379, 235/380, 705/1, 705/14, 705/15, 705/17, 705/39, 705/40
• US Class Current: 235/379
• 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. 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, wherein generating a rounder amount is performed after receiving a plurality of payment transactions;

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.

2. 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 a determinant, wherein generating a total rounder amount for a plurality of transactions is generated based on the plurality of transactions 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.

3. 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, 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;

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.

4. 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, 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;

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.

5. 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, wherein apportioning is performed after a plurality of the modifying the balance operations; and

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

6. 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, 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; and

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

7. 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; and

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, 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.