Patent ID: 8700525
Filing Date: 2014-04-15
Classification: G06Q

Abstract:
1. A computer-based funds transfer method, comprising: receiving, by one or more computing devices associated with an acquirer processor, account identifying information for each of a first financial account and a second financial account; receiving, by at least one of the computing devices associated with the acquirer processor, one or more settlement rules, wherein each of the one or more settlement rules provides at least one directive for settling funds to at least one of the first financial account and the second financial account; storing the one or more settlement rules into an electronic database; receiving, into a pooled account associated with the acquirer processor, an electronic transfer of funds on behalf of a merchant; determining, by at least one of the computing devices associated with the acquirer processor and based at least in part on at least one of the settlement rules, one or more directives directing the acquirer processor to transfer at least electronically transferring, the first portion of the funds from the pooled account to the first financial account; and electronically transferring, the second portion of the funds from the pooled account to the second financial account.