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).

  • Publication number: 20220076259
    Abstract: 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: Application
    Filed: September 9, 2020
    Publication date: March 10, 2022
    Inventor: Pino Luongo
  • Patent number: 10789655
    Abstract: 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: Grant
    Filed: March 26, 2018
    Date of Patent: September 29, 2020
    Assignee: STAC IP, LLC
    Inventor: Pino Luongo
  • Publication number: 20180330351
    Abstract: 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: Application
    Filed: July 20, 2018
    Publication date: November 15, 2018
    Inventors: Pino Luongo, William Gordon
  • Publication number: 20180240199
    Abstract: 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: Application
    Filed: March 26, 2018
    Publication date: August 23, 2018
    Inventor: Pino Luongo
  • Patent number: 10032153
    Abstract: 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: Grant
    Filed: January 6, 2014
    Date of Patent: July 24, 2018
    Assignee: STAC IP, LLC
    Inventors: Pino Luongo, William Gordon
  • Patent number: 9928554
    Abstract: 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: Grant
    Filed: November 12, 2013
    Date of Patent: March 27, 2018
    Assignee: STAC MEDIA, INC.
    Inventor: Pino Luongo
  • Publication number: 20150193757
    Abstract: 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: Application
    Filed: January 6, 2014
    Publication date: July 9, 2015
    Applicant: Stac Media, Inc.
    Inventors: Pino Luongo, William Gordon
  • Publication number: 20140149268
    Abstract: 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: Application
    Filed: November 12, 2013
    Publication date: May 29, 2014
    Inventor: Pino Luongo
  • Patent number: 8583518
    Abstract: 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: Grant
    Filed: November 26, 2012
    Date of Patent: November 12, 2013
    Assignee: Stac Media, Inc.
    Inventor: Pino Luongo
  • Publication number: 20130085913
    Abstract: 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: Application
    Filed: November 26, 2012
    Publication date: April 4, 2013
    Inventor: Pino Luongo
  • Patent number: 8321281
    Abstract: 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: Grant
    Filed: August 19, 2010
    Date of Patent: November 27, 2012
    Assignee: Stac Media, Inc.
    Inventors: Pino Luongo, Jack Kane
  • Publication number: 20120047034
    Abstract: 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: Application
    Filed: August 19, 2010
    Publication date: February 23, 2012
    Applicant: Stac Communication Solutions
    Inventors: Pino Luongo, Jack Kane