Patents by Inventor Ramiro M. Munoz

Ramiro M. Munoz 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).

  • Process and system for the clearing and settling of transactions
    Patent number: 8498902
    Abstract: A method and system for the clearing and settlement of funds among a plurality of participants facilitates the integration of a “closed” special purpose industry sector, such as the transit industry, within an open financial payment system. A method for clearing and settling funds among a plurality of participants comprises receiving data relating to transactions from the plurality of participants, organizing the data into groups associated with each of the plurality of participants, summing the data in the groups to determine a total funds due to and from each of the plurality of participants, and settling the difference among the plurality of participants by transferring funds to the participants owed funds and collecting funds from the participants who owe funds.
    Type: Grant
    Filed: April 26, 2000
    Date of Patent: July 30, 2013
    Assignee: Citicorp Development Center, Inc.
    Inventors: Mark F. Kogen, Ramiro M. Munoz