US Patent Issued to VPay on Oct. 27 for "Intermediary payment system and method for protecting a payor's payment card data" (Texas Inventor)

ALEXANDRIA, Va., Oct. 27 -- United States Patent no. 12,775,930, issued on Oct. 27, was assigned to VPay Inc. (Plano, Texas).

"Intermediary payment system and method for protecting a payor's payment card data" was invented by Robert M. Allen (Plano, Texas).

According to the abstract* released by the U.S. Patent & Trademark Office: "A payment intermediary vaults credit card data of a consumer for regular, simplified payments to one or more merchants. Consumer authorizes intermediary to charge the credit card so that intermediary can, in turn, pay a selected merchant. Intermediary tracks the interchange fees incurred on the first card transaction (between consumer and intermediary) and then automatically selects a payment card account with ...