Patents by Inventor Richard Alan Maxwell

Richard Alan Maxwell 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).

  • DYNAMIC BIN ALLOCATION FOR PAYMENT CARD TRANSACTIONS
    Publication number: 20140164235
    Abstract: Preauthorized payments may be made to service providers, repair shops, and even vendors serving employees on business trips through credit card processing. The approved payment amount is authorized on a virtually created payment card, which is then sent to the payee. These transactions incur interchange fees for the card processing. Therefore, unlike a check or EFT payment, the payee receives the approved payment less interchange fees. Interchange rates vary based on the payment card product offered by an issuing bank in addition to factors relating to how the payment card is processed. The current invention is a method of automatically generating a virtual payment card and/or processing the card in a manner to achieve a target interchange fee.
    Type: Application
    Filed: February 12, 2014
    Publication date: June 12, 2014
    Applicant: StoneEagle Services, Inc.
    Inventors: Robert M. Allen, Richard Alan Maxwell
  • Dynamic bin allocation for payment card transactions
    Patent number: 8694431
    Abstract: Preauthorized payments may be made to service providers, repair shops and even vendors serving employees on business trips through credit card processing. The approved payment amount is authorized on a virtually created payment card which is then sent to the payee. These transactions incur interchange fees for the card processing. Therefore, unlike a check or EFT payment, the payee receives the approved payment less interchange fees. Interchange rates vary based on the payment card product offered by an issuing bank in addition to factors relating to how the payment card is processed. The current invention is a method of automatically generating a virtual payment card and/or processing the card in a manner to achieve a target interchange fee.
    Type: Grant
    Filed: September 16, 2013
    Date of Patent: April 8, 2014
    Assignee: StoneEagle Services, Inc.
    Inventors: Robert M. Allen, Richard Alan Maxwell
  • DYNAMIC BIN ALLOCATION FOR PAYMENT CARD TRANSACTIONS
    Publication number: 20140089183
    Abstract: Preauthorized payments may be made to service providers, repair shops and even vendors serving employees on business trips through credit card processing. The approved payment amount is authorized on a virtually created payment card which is then sent to the payee. These transactions incur interchange fees for the card processing. Therefore, unlike a check or EFT payment, the payee receives the approved payment less interchange fees. Interchange rates vary based on the payment card product offered by an issuing bank in addition to factors relating to how the payment card is processed. The current invention is a method of automatically generating a virtual payment card and/or processing the card in a manner to achieve a target interchange fee.
    Type: Application
    Filed: September 16, 2013
    Publication date: March 27, 2014
    Applicant: StoneEagle Services, Inc.
    Inventors: Robert M. Allen, Richard Alan Maxwell