Abstract: The present disclosure provides systems and methods directed to a social-financial platform. In certain embodiments, sponsor-members, consumer-members, and beneficiary members are part of a social-financial platform in which purchases made by consumer-members at merchant sponsor-members result in automatic rebates being paid to and allocated between the consumer member and one or more beneficiary-members. Also disclosed is a monolithic financial structure for carrying out rebate allocation automatically and instantaneously, and for transferring funds between users.
Type:
Grant
Filed:
June 8, 2020
Date of Patent:
October 11, 2022
Assignee:
PayForward, LLC
Inventors:
Steve Marks, Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos
Abstract: The present disclosure provides systems and methods directed to processing payments using an event-triggered distributed rules-based system (“DRBS”). In one embodiment, a system comprises a DRBS comprising a DRBS virtual holding account associated with the DRBS, a merchant virtual account associated with a merchant, the merchant being a member of the DRBS, and/or a consumer virtual account associated with a consumer. The system also comprises a database configured to manage virtual balance information for the plurality of virtual accounts.
Type:
Grant
Filed:
July 14, 2017
Date of Patent:
May 18, 2021
Assignee:
PayForward LLC
Inventors:
Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos
Abstract: The present disclosure provides systems and methods directed to a social-financial platform. In certain embodiments, sponsor-members, consumer-members, and beneficiary members are part of a social-financial platform in which purchases made by consumer-members at merchant sponsor-members result in automatic rebates being paid to and allocated between the consumer member and one or more beneficiary-members. Also disclosed is a monolithic financial structure for carrying out rebate allocation automatically and instantaneously, and for transferring funds between users.
Type:
Application
Filed:
June 8, 2020
Publication date:
January 28, 2021
Applicant:
PayForward, LLC
Inventors:
Steve Marks, Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos
Abstract: The present disclosure provides systems and methods directed to a social-financial platform. In certain embodiments, sponsor-members, consumer-members, and beneficiary members are part of a social-financial platform in which purchases made by consumer-members at merchant sponsor-members result in automatic rebates being paid to and allocated between the consumer member and one or more beneficiary-members. Also disclosed is a monolithic financial structure for carrying out rebate allocation automatically and instantaneously, and for transferring funds between users.
Type:
Grant
Filed:
May 15, 2015
Date of Patent:
June 9, 2020
Assignee:
PayForward, LLC
Inventors:
Steve Marks, Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos
Abstract: The present disclosure provides systems and methods directed to processing payments using an event-triggered distributed rules-based system (“DRBS”). In one embodiment, a system comprises a DRBS comprising a DRBS virtual holding account associated with the DRBS, a merchant virtual account associated with a merchant, the merchant being a member of the DRBS, and/or a consumer virtual account associated with a consumer. The system also comprises a database configured to manage virtual balance information for the plurality of virtual accounts.
Type:
Application
Filed:
July 14, 2017
Publication date:
January 18, 2018
Applicant:
PayForward LLC
Inventors:
Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos
Abstract: The present disclosure provides systems and methods directed to a social-financial platform. In certain embodiments, sponsor-members, consumer-members, and beneficiary members are part of a social-financial platform in which purchases made by consumer-members at merchant sponsor-members result in automatic rebates being paid to and allocated between the consumer member and one or more beneficiary-members. Also disclosed is a monolithic financial structure for carrying out rebate allocation automatically and instantaneously, and for transferring funds between users.
Type:
Application
Filed:
May 15, 2015
Publication date:
November 19, 2015
Applicant:
PayForward, LLC
Inventors:
Steve Marks, Armando Rand, James Saltmar, Armen Santourian, Ronnie Silos