US 9,754,294 B2Granted

Facilitating charitable donations on a banking system

AssigneeMastercard International Incorporated

InventorsAhmed Hosny, Peter J. Groarke

Life of this patent

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Abstract

Methods, apparatus and systems for automatically calculating charitable donations for donors and for distributing the charitable donations in accordance with the donors' wishes to approved and/or registered recipients, such as approved charitable organizations. In some embodiments, the method includes receiving contributor information, recipient information and donation data during a predetermined period of time, and then aggregating the donations from a plurality of contributors into a plurality of recipient contribution amounts. The process also includes distributing, at the end of the predetermined period of time, the recipient contribution amounts to recipient financial institutions based on the contributor information, the recipient information and the donation data.

Claims14

Dependent claims

A method for distributing charitable donation amounts for a plurality of contributors comprising:

receiving, by a broker computer processor of a broker computer system from a plurality of contributor financial institution (FI) computers, contributor information of a plurality of contributors, approved recipient bank account data of approved recipients selected by the plurality of contributors, and donation data, wherein the donation data comprises contributor bank account data of the plurality of contributors and associated donation amounts;
aggregating, by the broker computer processor utilizing a batch process, the donation data into a plurality of recipient contribution amounts based on the approved recipient bank account data with a frequency determined by an entity operating the broker computer system;
swapping, by the broker computer processor for the plurality of recipient contribution amounts, donation amounts of a first currency type from first contributors with donation amounts of a second currency type from second contributors when the approved recipients of the first contributors have an associated currency code associated with the second currency type and the approved recipients of the second contributors have a currency code associated with the first currency type;
and
distributing, by the broker computer processor, each of the recipient contribution amounts to each of a plurality of recipient FI computers associated with the approved recipient bank account data.

2 more elements

An apparatus for distributing charitable donation amounts for a plurality of contributors, comprising:

a broker computer processor;
a communication device operably connected to the broker computer processor;
and
a storage device operably connected to the broker computer processor, wherein the storage device stores instructions configured to cause the broker computer processor to:
receive, from a plurality of contributor financial institution (FI) computers, contributor information of a plurality of contributors, approved recipient bank account data of approved recipients selected by the plurality of contributors, and donation data, wherein the donation data comprises contributors bank account data and associated donation amounts;
aggregate utilizing a batch process, the donation data into a plurality of recipient contribution amounts based on the recipient bank account data with a frequency determined by an entity operating the broker computer system;
swap, for the plurality of recipient contribution amounts, donation amounts of a first currency type from first contributors with donation amounts of a second currency type from second contributors when the approved recipients of the first contributors have an associated currency code associated with the second currency type and the approved recipients of the second contributors have a currency code associated with the first currency type;
and
distribute each of the recipient contribution amounts to each of a plurality of recipient FI computers associated with the approved recipient bank account data.

6 more elements

Dependencies are inferred from the claim text.