Kevin D Todd

US Patent:

20150052043, Feb 19, 2015

Filed:

Aug 13, 2013

Appl. No.:

13/965366

Inventors:

Kevin Michael Todd - Raleigh NC, US

International Classification:

G06Q 30/02
G06Q 20/34
G06Q 20/22

US Classification:

705 39

Abstract:

The computerized method/system allocates charitable contributions based upon credit/debit card discount fees selected by a vendor. An intermediary payment processor (IPP) permits the vendor to select fees/rates and charity. The IPP either (a) calculates an estimated charitable contribution based upon vendor's sales or (b) permits the vendor to select the charity's allocated rate. When the credit/debit card is processed, an allocated portion of the discount fees from each card transaction is delivered to the IPP's bank (which may be an escrow in the card processor's bank). The IPP bank pays this allocation periodically to the charity and the bank reports payments to the IPP, which in turn reports, via the web-portal, to the vendor. The vendor can make prospective changes. The system includes a rate selector, an input module, a charitable contribution calculator, a vendor's report display module, a transaction payment monitor, and a payment module for the charitable fee.