US Patent Issued to TREC on June 16 for "Proprietary token-based universal payment processing system" (New York, California, Colorado Inventors)

ALEXANDRIA, Va., June 16 -- United States Patent no. 12,657,577, issued on June 16, was assigned to TREC Corp. (Cross River, N.Y.).

"Proprietary token-based universal payment processing system" was invented by Albert D'Alisa (Pound Ridge, N.Y.), Scott W. Frey (Pound Ridge, N.Y.), Frank S. Giaccio (Edwards, Colo.), Greg Hines (Westlake Village, Calif.) and Frank Sherman (Agoura Hills, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Embodiments described herein provide approaches for processing a payment in an electronic commerce environment. Specifically, a customer of a merchant website in the electronic commerce environment is provided a universal payment interface in response to the customer's reques...