Patents by Inventor Pino Luongo
Pino Luongo has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Publication number: 20220076259Abstract: A transaction processing system suitable for reversing a merchant transaction, the system comprising a processor, a memory, a first connection over a network for receiving a request to reverse the merchant transaction, and further connections over the network for reversing the merchant transaction; and a transaction reversal module comprising code which, when executed in the processor, configures the processor to provide funds associated with the request to reverse the merchant transaction received over the first connection to a customer, the transaction reversal module including a transaction access module to identify an account where the merchant portion was settled and an account where the tax amount was settled; a settlement determination to determine if the tax portion remains in the second account; an account transfer module operative to settle the merchant portion in favor of a customer account; and a credit ledger module access and update a tax credit ledger.Type: ApplicationFiled: September 9, 2020Publication date: March 10, 2022Inventor: Pino Luongo
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Patent number: 10789655Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: GrantFiled: March 26, 2018Date of Patent: September 29, 2020Assignee: STAC IP, LLCInventor: Pino Luongo
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Publication number: 20180330351Abstract: A transaction processing system suitable for processing a merchant transaction includes a computer having a processor, a memory, a plurality of connections over a network for receiving and settling the merchant transaction; and a separator module operative to separate funds associated with the merchant transaction. The separator module further includes a revenue settlement module operative to settle a revenue portion of the merchant transaction in favor of a first account accessible over the network, the first account being associated with the merchant; a tax settlement module operative to settle the tax portion associated with the merchant transaction in favor of a second account accessible over the network, the second account being different than the first account; and a fee resolution module operative to resolve fees associated with operation of the tax settlement module, such that an amount equal to the tax portion is settled in favor of the second account.Type: ApplicationFiled: July 20, 2018Publication date: November 15, 2018Inventors: Pino Luongo, William Gordon
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Publication number: 20180240199Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: ApplicationFiled: March 26, 2018Publication date: August 23, 2018Inventor: Pino Luongo
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Patent number: 10032153Abstract: A transaction processing system suitable for processing a merchant transaction includes a computer having a processor, a memory, a plurality of connections over a network for receiving and settling the merchant transaction; and a separator module operative to separate funds associated with the merchant transaction. The separator module further includes a revenue settlement module operative to settle a revenue portion of the merchant transaction in favor of a first account accessible over the network, the first account being associated with the merchant; a tax settlement module operative to settle the tax portion associated with the merchant transaction in favor of a second account accessible over the network, the second account being different than the first account; and a fee resolution module operative to resolve fees associated with operation of the tax settlement module, such that an amount equal to the tax portion is settled in favor of the second account.Type: GrantFiled: January 6, 2014Date of Patent: July 24, 2018Assignee: STAC IP, LLCInventors: Pino Luongo, William Gordon
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Patent number: 9928554Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: GrantFiled: November 12, 2013Date of Patent: March 27, 2018Assignee: STAC MEDIA, INC.Inventor: Pino Luongo
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Publication number: 20150193757Abstract: A transaction processing system suitable for processing a merchant transaction includes a computer having a processor, a memory, a plurality of connections over a network for receiving and settling the merchant transaction; and a separator module operative to separate funds associated with the merchant transaction. The separator module further includes a revenue settlement module operative to settle a revenue portion of the merchant transaction in favor of a first account accessible over the network, the first account being associated with the merchant; a tax settlement module operative to settle the tax portion associated with the merchant transaction in favor of a second account accessible over the network, the second account being different than the first account; and a fee resolution module operative to resolve fees associated with operation of the tax settlement module, such that an amount equal to the tax portion is settled in favor of the second account.Type: ApplicationFiled: January 6, 2014Publication date: July 9, 2015Applicant: Stac Media, Inc.Inventors: Pino Luongo, William Gordon
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Publication number: 20140149268Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: ApplicationFiled: November 12, 2013Publication date: May 29, 2014Inventor: Pino Luongo
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Patent number: 8583518Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: GrantFiled: November 26, 2012Date of Patent: November 12, 2013Assignee: Stac Media, Inc.Inventor: Pino Luongo
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Publication number: 20130085913Abstract: Described are technologies relating to transaction processing. In general, one aspect of the subject matter described herein can be embodied in methods that include the actions of calculating, in relation to a transaction, one or more tax amounts associated with a price of the transaction, obtaining, in relation to a payment source, an approval for at least the price of the transaction and the one or more tax amounts, thereby defining an approved sales transaction, and, subsequent to obtaining the approval, (a) settling at least a revenue portion of one or more approved sales transactions in favor of a first account, and (b) settling the one or more tax amounts in favor of a second account that is different than the first account.Type: ApplicationFiled: November 26, 2012Publication date: April 4, 2013Inventor: Pino Luongo
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Patent number: 8321281Abstract: A computer-implemented transaction processing system includes a card reader and a plurality of modules each comprising code that executes in the processor. The card reader transfers credit card data from a credit card of a customer to a memory of the computer. A check presentation module is operative to calculate a sales tax associated with a price of a product sold to the customer. An approval module is operative to obtain an approval against the credit card data in the memory for at least the price of the product and the sales tax and thereby define an approved sale transaction. A revenue settlement module and a tax settlement module are operative to settle respective portions of the sales transaction(s) to different accounts, such that a revenue portion goes to a first account free of any sales tax, and a sales tax portion goes to the other account.Type: GrantFiled: August 19, 2010Date of Patent: November 27, 2012Assignee: Stac Media, Inc.Inventors: Pino Luongo, Jack Kane
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Publication number: 20120047034Abstract: A computer-implemented transaction processing system includes a card reader and a plurality of modules each comprising code that executes in the processor. The card reader transfers credit card data from a credit card of a customer to a memory of the computer. A check presentation module is operative to calculate a sales tax associated with a price of a product sold to the customer. An approval module is operative to obtain an approval against the credit card data in the memory for at least the price of the product and the sales tax and thereby define an approved sale transaction. A revenue settlement module and a tax settlement module are operative to settle respective portions of the sales transaction(s) to different accounts, such that a revenue portion goes to a first account free of any sales tax, and a sales tax portion goes to the other account.Type: ApplicationFiled: August 19, 2010Publication date: February 23, 2012Applicant: Stac Communication SolutionsInventors: Pino Luongo, Jack Kane