ALEXANDRIA, Va., Sept. 23 -- United States Patent no. 12,423,663, issued on Sept. 23.
"Payment holding and disbursement method" was invented by Rachel Reed (Fort Ann, N.Y.).
According to the abstract* released by the U.S. Patent & Trademark Office: "A method guarantees funds from a buyer to a seller in conjunction with systematic or manual disbursement of funds. The buyer may transfer funds from a funding source into a holding account which may be locked to prohibit funds from being removed by the buyer. This guarantees fund availability to the seller. The seller may be allowed to view funds in the holding account or may be notified that the amount meets the agreement amount established between the buyer and seller based on the criteria o...