Patent ID: 8676674
Filing Date: 2014-03-18
Classification: G06Q

Abstract:
1. A method performed by a payment processor that executes software instructions for creating and managing electronic payment accounts on a financial management system, the method comprising: associating an account with an account owner; receiving, through a user interface from the account owner, entries that specify a bill to be associated with the account, sending, by the payment processor, a request, to each member of the group, to receive the member's share of the total amount; receiving, by the payment processor, from each member, the member's share of the total amount; and paying the bill, by the payment processor, automatically upon receiving all of the shares of the total amount of the bill; wherein the bill is an itemized paperless bill delivered directly to the payment processor, and wherein the payment processor automatically allocates itemized amounts in the bill to individual members of the group; wherein the receiving steps, the sending step and the paying step are performed by the payment processor.