Reserving amount of payment from financial account balance

• Main Authors: SEETHARAMAN CHANDRA, BHATTIPROLU SUKADEV, MYNENI HAREN, SHAROFF NARASIMHA N, NAINENI MALAHAL R
• Format: Patent
• Language: English
• Published: 11.02.2010
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

In response to a payor planning a specific payment for a given amount to a payee, the given amount is reserved from a balance of a financial account of the payor from which the specific payment is to be made. As such, the given amount reserved from the balance is only available for settling the specific payment and is otherwise unavailable. After the payor has planned the specific payment for the given amount to the payee, in response to the specific payment for the given amount actually being made to the payee, the given amount reserved from the balance of the financial account is used to settle the specific payment for the given amount being made to the payee.