Non-cash transaction incentive and commission distribution syste

Details Non-cash transaction incentive and commission distribution syste Non-cash transaction incentive and commission distribution syste

1997-08-15

2000-08-15

Trammell, James P.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Discount or incentive

705 17, 705 39, G06F 1760

Patent

active

061050016

ABSTRACT:
An electronic fund transfer system is disclosed wherein commissions for point-of-sale purchase transactions are determined and distributed to members of an organizational network for promoting use of a non-cash payment device for effecting purchase transactions. Purchase data is electronically transmitted from the point-of-sale to an automated clearing house for effecting fund transfers to prepare the purchase, and also to a commission management system. The commission management system maintains an electronic database reflecting the structure of the organizational network, and further determines the distribution of purchase commissions according to a predetermined schedule of proportions relating to the position and business volume of each member of the network. The commission management system further comprises a payment processor for effecting commission payments to the members on a scheduled basis.

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