US Patent Issued to Multi Service Technology Solutions on May 26 for "Open-loop network universal acceptance" (Kansas, Missouri Inventors)

ALEXANDRIA, Va., May 26 -- United States Patent no. 12,639,709, issued on May 26, was assigned to Multi Service Technology Solutions Inc. (Overland Park, Kan.).

"Open-loop network universal acceptance" was invented by Daniel Wayne Zimmerman (Overland Park, Kan.), John George Jakobe (Kansas City, Mo.) and Christopher Alan Kirke (Overland Park, Kan.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Aspects of this invention provide for allowing a customer which has been issued trade credit to use that credit through an open loop payment network. A purchase from a merchant using an open loop payment network associated with that customer's trade credit account is requested to be approved. A credit manager can then ...