Richard Stephen O'Brien

US Patent:

7945511, May 17, 2011

Filed:

Nov 3, 2006

Appl. No.:

11/592510

Inventors:

Richard J. O'Brien - Lisle IL, US
Andrew M. Gallant - Rockville MD, US
John T. Condon - Hoffman Estates IL, US
Jordan S. Firfer - West Hartford CT, US
Lawrence F. Buettner - Long Grove IL, US

Assignee:

Payment Pathways, Inc. - Lisle IL

International Classification:

G06Q 40/00

US Classification:

705 39

Abstract:

The Greenlist tool provides payors desiring to pay a merchant a means to locate, validate and effect the transfer of assets to another party by routing transaction requests to a third party that functions as the transaction enabler. This task is performed without divulging confidential information about transactors while assigning liability for certain risk consequences to the lowest cost risk bearers: banks. Greenlist verifies identities before making financial transactions or before obtaining access to restricted information. The Greenlist can be completely trusted by risk-bearers. Liability for risk can be transferred to the registrars of the information contained within the registry. This liability transfer substantially reduces the payor's cost of bearing risks. Banks or third parties responsible for certifying that someone or some entity claiming to be an authorized party is not an impostor can now offer new levels of service at a substantially lower cost for a variety of transactions.

US Patent:

8271381, Sep 18, 2012

Filed:

Apr 5, 2011

Appl. No.:

13/080365

Inventors:

Richard J. O'Brien - Lisle IL, US
Andrew M. Gallant - Rockville MD, US
John T. Condon - Hoffman Estates IL, US
Jordan S. Firfer - West Hartford CT, US
Lawrence F. Buettner - Long Grove IL, US

Assignee:

Payment Pathways, Inc. - Lisle IL

International Classification:

G06Q 40/00

US Classification:

705 39

Abstract:

The Greenlist tool provides payors desiring to pay a merchant a means to locate, validate and effect the transfer of assets to another party by routing transaction requests to a third party that functions as the transaction enabler. This task is performed without divulging confidential information about transactors while assigning liability for certain risk consequences to the lowest cost risk bearers: banks. Greenlist verifies identities before making financial transactions or before obtaining access to restricted information. The Greenlist can be completely trusted by risk-bearers. Liability for risk can be transferred to the registrars of the information contained within the registry. This liability transfer substantially reduces the payor's cost of bearing risks. Banks or third parties responsible for certifying that someone or some entity claiming to be an authorized party is not an impostor can now offer new levels of service at a substantially lower cost for a variety of transactions.

US Patent:

8447630, May 21, 2013

Filed:

Sep 28, 2010

Appl. No.:

12/892187

Inventors:

Richard J. O'Brien - Lisle IL, US
Andrew M. Gallant - Rockville MD, US

Assignee:

Payment Pathways, Inc. - Lisle IL

International Classification:

G06F 19/00

US Classification:

705 3

Abstract:

The present invention relates to a central (root) directory and the synchronization of unique identifiers associated with a payment addresses and permission preferences at different institutions. In a preferred embodiment, each unique identifier associates an account owner's permissions preference for the release of personal identifying information without the need for transaction-by-transaction explicit permissions or blanket implicit permissions. An asset transfer deposit account (for information and/or monetary assets) may be set up as a deposit only account. In this way, the present invention can be effective in eliminating many privacy concerns of account owners and security requirements of an information asset repository.