Unknown Organization (20240346596). System, Method, and Application for Combining Multiple Currency Sources into a Single Account simplified abstract
Contents
System, Method, and Application for Combining Multiple Currency Sources into a Single Account
Organization Name
Inventor(s)
Phillip Glasper of San Francisco CA (US)
System, Method, and Application for Combining Multiple Currency Sources into a Single Account - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240346596 titled 'System, Method, and Application for Combining Multiple Currency Sources into a Single Account
Simplified Explanation: This patent application describes a currency collaboration platform that allows users to combine gift card balances, prepaid debit card balances, and cash/coins into a single account for various financial transactions.
Key Features and Innovation:
- Mobile application and website for account management
- Ability to load or transfer funds onto physical cards or use for online purchases
- Option to invest funds
- ATMs for depositing cash/coins and transferring funds
- Financial guidance and support from specialists
- Access to forums, guides, and lessons on account management, investing, savings, stocks, cryptocurrency, and more
Potential Applications: This technology can be used by individuals looking to streamline their financial accounts and manage their funds more efficiently.
Problems Solved: This technology addresses the inconvenience of managing multiple gift card and debit card balances separately, as well as the challenge of combining cash and coins with digital funds.
Benefits: The platform offers users a convenient way to consolidate and utilize their various forms of currency, while also providing access to financial guidance and investment opportunities.
Commercial Applications: This technology could be valuable for financial institutions, retailers, and online payment platforms looking to offer customers a comprehensive solution for managing their funds.
Questions about Currency Collaboration Platform: 1. How does the platform ensure the security of users' funds? 2. What are the fees associated with using the platform?
2. Another relevant generic question, with a detailed answer: How does the platform handle currency conversion for international transactions? The platform likely uses real-time exchange rates to convert funds for international transactions, with fees or charges applied for the currency conversion process.
Original Abstract Submitted
a currency collaboration platform that provides a mobile application and a website enabling users to combine gift card balances, prepaid debit card balances, and cash/coins into a single account is disclosed. the funds added to the account can be loaded or transferred onto physical cards for use at vendors, or funds can be used for online purchases and can also be invested. the platform includes atms for depositing cash/coins and to transfer funds to the account. the platform provides financial guidance to users and account users can speak with specialists for support as well as explore forums, guides, and lessons for information on account management investing, savings, stocks, cryptocurrency, and more.
