John C Pratt

US Patent:

20080162349, Jul 3, 2008

Filed:

Dec 21, 2007

Appl. No.:

11/963440

Inventors:

John Pratt - Austin TX, US
Louis Helm - Austin TX, US

International Classification:

G06Q 20/00

US Classification:

705 44

Abstract:

A method of collecting money or resources from a group of contributors includes accepting a pledge from a first contributor, authorizing the pledge, and converting the authorized pledge to a payment. The pledge provides pledge information including an amount of money pledged and a method of payment. The pledge is authorized by verifying the validity of the method of payment and verifying that the method of payment is able to provide the amount of money pledged. The pledge is converted to a payment when the sum of the amounts of money pledged by the authorized pledges is greater than or equal to the predetermined amount of money. The method is preferably designed for the fundraising field and, more specifically, for the online fundraising field. The method, however, may be alternatively used in any suitable environment and for any suitable reason.