Paul Christopher Sutter

US Patent:

8086524, Dec 27, 2011

Filed:

Sep 10, 2007

Appl. No.:

11/852772

Inventors:

Patrick James Craig - New York NY, US
Konrad Simeon Feldman - San Francisco CA, US
Leonard Justin Laufer - Scarsdale NY, US
Michael Heller - New York NY, US
Paul Sutter - San Francisco CA, US
Nikolas Alexander Sulkowski - New Canaan CT, US

International Classification:

G06Q 40/00

US Classification:

705 38, 705 39

Abstract:

One embodiment of the present invention relates to a computer implemented method for transaction processing that includes: transacting for a first and a second transactions for at least one of: a purchase; and a cash advance; sending requests for authorization of the first and second transactions; declining, by a primary lender, the requests for authorization; evaluating the declined requests for authorization by a secondary lender; authorizing, by the secondary lender, the declined requests for authorization in the form of authorization approvals; communicating the authorization approvals by the primary lender; posting the transactions to a balance sheet of the secondary lender in the form of amounts due to the primary lender; funding the transactions by the primary lender; summing up one or more debits and one or more credits of the posted transactions of the secondary lender; and settling any amounts due between the primary and secondary lenders.