The USPTO will shortly launch its new fee payment system called the Financial Manager. The Financial Manager is designed to be a seamless online fee payment management system. Accordingly, under the new system, users will be able to virtually manage, store and review payment methods. Additionally, the system will generate and download transaction reports, assign user permits, and provide notifications for administrative matters.

In efforts to meet the growing demands of an advanced virtual technology of the 21st century, the USPTO is taking viable steps to reconstruct its current system to make obtaining and maintaining a patent and trademark more efficient and reliable. In particular, the USPTO felt it was imperative to implement an electronic system that would increase payment efficiency, provide transparency on fees paid and provide tangency with current business processes for its users.

Accordingly, summer of 2015 is the forecasted date, when the USPTO will inaugurate the Financial Manager, its highly anticipated virtual payment system. Preliminary reports suggest that the system is designed to alleviate current issues with online payments, while permitting users to effortlessly maintain and manage patent and trademark matters. Although unconfirmed, the system, first will commence with technology that permits users to pay maintenance fees for existing patents. In particular, the system will allow the user to store financial information and monitor transaction history therein.

Furthermore, the system will allow users to store and manage electronic payment methods, deposit accounts and EFT accounts, so that user’s will not be necessitated to enter detailed information for each transaction. In this regard, the system will allow user to set permission filters so that users can access, use and manage stored payment methods. Updates in the near future will offer enhanced features and capabilities that will allow the user to comprehensively complete all the financial activities virtually with the USPTO.

The USPTO recommends users to join their correspondence list in order to begin preparing for the upcoming transaction to the new system.