Systems and methods for real-time trickle payments

Number of patents in Portfolio can not be more than 2000

United States of America

PATENT NO 12236405
SERIAL NO

17385617

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Abstract

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Systems, methods, and apparatuses for real-time trickle payments are provided. A system includes a processing circuit configured to: receive a request from a consumer device to commission a service provided by a supplier; place a financial hold on funds allocated to a supplier financial account based on performance terms of a smart contract; detect initiation of performance of the requested service based on performance information from a mobile device associated with the supplier and correlating the performance information to the smart contract; increase a financial hold on funds allocated to a consumer financial account in a hold amount proportional to the monitored performance, and decrease the financial hold on the funds allocated to the supplier financial account in the hold amount proportional to the monitored performance; and, upon the completion of the requested service, release the funds on hold in the supplier financial account.

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Patent Owner(s)

  • WELLS FARGO BANK, N.A.

International Classification(s)

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  • [Patents Count]

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Johnstone, Eileen Ventnor, US 2 3
Knorr, Michael Fairfield, US 22 66
Miller, Thomas R Levittown, US 201 2610
Mwangi, Catherine Wangari Hackensack, US 8 15
Roldan-Colon, Mercedes Bala Cynwyd, US 2 3
Weng, Jessica A San Francisco, US 2 3

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Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
3.5 Year Payment $1600.00 $800.00 $400.00 Aug 25, 2028
7.5 Year Payment $3600.00 $1800.00 $900.00 Aug 25, 2032
11.5 Year Payment $7400.00 $3700.00 $1850.00 Aug 25, 2036
Fee Large entity fee small entity fee micro entity fee
Surcharge - 3.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 7.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 11.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge after expiration - Late payment is unavoidable $700.00 $350.00 $175.00
Surcharge after expiration - Late payment is unintentional $1,640.00 $820.00 $410.00