Lynn Alvina Simmons

US Patent:

20130041816, Feb 14, 2013

Filed:

Aug 9, 2012

Appl. No.:

13/571194

Inventors:

Peter C. DiGiulio - Oakhurst NJ, US
Lynn R. Simmons - Port Washington NY, US
Jaroslav Kardash - Minsk, BY
Kathy Ann Ventour - Newark NJ, US
Lauren B. Lazarus - Bayside NY, US

International Classification:

G06Q 20/14

US Classification:

705 40

Abstract:

The electronic payment systems and methods of the present disclosure accelerate debt payoff and reduce interest expense. A method of operating an electronic payment system includes storing funding source information in a database, storing funding schedule information, which includes funding schedule type, corresponding to the funding source information in the database, and allocating an available funding amount from at least one funding source to a plurality of recurring payment accounts based upon the funding source information, the funding schedule information, and recurring payment account information. A method of enrolling at least one client in an electronic payment system includes receiving client information, which includes funding source information and payment account information, selecting a regular funding cycle, determining a regular funding amount, determining a plurality of potential funding profiles based upon the client information, and selecting at least one funding profile from the plurality of potential funding profiles.

US Patent:

20150032613, Jan 29, 2015

Filed:

Aug 5, 2014

Appl. No.:

14/451760

Inventors:

Peter C. DiGiulio - Oakhurst NJ, US
Lynn R. Simmons - Port Washington NY, US
Jaroslav Kardash - Minsk, BY
Kathy Ann Ventour - Newark NJ, US
Lauren B. Lazarus - Bayside NY, US

International Classification:

G06Q 20/10

US Classification:

705 40

Abstract:

The electronic payment systems and methods of the present disclosure accelerate debt payoff and reduce interest expense. A method of operating an electronic payment system includes storing funding source information relating to at least one funding source in a database, storing funding schedule information, which includes funding schedule type, relating to at least one funding schedule corresponding to the at least one funding source in the database, and allocating an available funding amount from the at least one funding source to the plurality of recurring payment accounts based upon the funding source information, the funding schedule information, and the recurring payment account information. A method of enrolling at least one client in an electronic payment system includes receiving client information relating to the at least one client, which includes funding source information relating to at least one funding source and payment account information relating to at least one payment account, selecting a regular funding cycle associated with the at least one funding source, determining a regular funding amount associated with the selected regular funding cycle, determining a plurality of potential funding profiles based upon the client information, and selecting at least one funding profile from the plurality of potential funding profiles.