Systems, methods and apparatus for variable settlement accounts
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United States of America Patent
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May 8, 2018
Issued Date -
N/A
app pub date -
Feb 25, 2014
filing date -
Oct 17, 2012
priority date (Note) -
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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.
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