Patent ID: 7734545
Filing Date: 2010-06-08
Classification: G06Q

Abstract:
1. A computer implemented method for processing payments, where the method is executed by a programmed computer processor at a payment engine which communicates via a network, the method comprising the steps of: receiving an electronic payment file at the payment engine, wherein the electronic payment file is electronically transmitted via the network from a paying entity and wherein the payment file comprises one or more payment instructions from the paying entity; identifying at least one payee from the electronic payment file; identifying, using a payment engine, a payment amount for the at least one payee for a contribution based on a pre-existing contract between the paying entity and the at least one payee for recurring payments to the at least one payee; identifying a payment method for the at least one payee from a payee profile associated with the at least one payee; distributing the payment amount via the payment method to the at least one payee; and notifying the at least one payee via an electronic transmission that the payment amount has been distributed via the payment method; wherein the at least one payee is a member of a group and the group manages the recurring payments for the at least one payee; and wherein the paying entity is one or more of a movie studio, a television studio, a sponsor and an endorsement company and the at least one payee is a participant in one or more of a movie production, a television production, a theater production, commercial and an endorsement.