Invention Grant
- Patent Title: Systems, methods and apparatus for variable settlement accounts
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Application No.: US14189060Application Date: 2014-02-25
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Publication No.: US09965749B2Publication Date: 2018-05-08
- Inventor: Thomas E. Rafferty , Bryan T. Bailey
- Applicant: Vantiv, LLC
- Applicant Address: US OH Symmes Township
- Assignee: Vantiv, LLC
- Current Assignee: Vantiv, LLC
- Current Assignee Address: US OH Symmes Township
- Agency: Bookoff McAndrews, PLLC
- Main IPC: G06Q40/00
- IPC: G06Q40/00 ; G06Q20/02 ; G06Q20/10 ; G06Q20/22

Abstract:
Systems and methods are provided for transferring settlement funds received into a pooled settlement account of an acquirer processor account to one or more financial accounts of a merchant. The transferring of the funds can be directed by one or more settlement rules defined by a merchant. The type of transfer method can be based on the type of financial account. Example types of transfers include Automated Clearing House (ACH) transfers and intrabank transfers.
Public/Granted literature
- US20140188712A1 SYSTEMS, METHODS AND APPARATUS FOR VARIABLE SETTLEMENT ACCOUNTS Public/Granted day:2014-07-03
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