US Patent Issued to Visa International Service Association on Dec. 30 for "Rapid transaction settlement using virtual account" (Colorado Inventors)

ALEXANDRIA, Va., Dec. 31 -- United States Patent no. 12,511,625, issued on Dec. 30, was assigned to Visa International Service Association (San Francisco).

"Rapid transaction settlement using virtual account" was invented by Chris Truelson (Highlands Ranch, Colo.) and Leigh Radtke (Centennial, Colo.).

According to the abstract* released by the U.S. Patent & Trademark Office: "An automation computer can receive a set of instructions pertaining to a transaction. The automation computer can generate a request to generate and activate a virtual account, where the virtual account is associated with a transaction value and a transaction amount. The virtual account can be managed by an authorization computer that can load a transaction value ont...