Instant availability of electronically transferred funds

US10235659B2 · kind B2 · utility

Assignee

• PAYPAL, INC. · US

Inventors

• Luke Paul Nosek · Palo Alto, US
• Christopher Richman · Palo Alto, US
• Roelof Frederik Botha · Mountain View, US
• Maria Lee · Fremont, US
• Kyle Hansen · Castle Rock, US
• Todd Pearson · Oakland, US
• Denise Aptekar · Menlo Park, US

Key dates

• Filing date: Nov 13, 2017
• Grant date: Mar 19, 2019
• Expiry date: Nov 13, 2037

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system and method for making proceeds of a transaction available to a user before the transaction is completed is provided. The system may be part of an on-line system or traditional merchant configured to facilitate payments or fund transfers from users. In example embodiments, a request from a first entity to conduct a transaction involving a first value is received. Funds of the transaction are caused to be released prior to the transaction clearing a financial institution. Based on the transaction being rejected by the financial institution, at least a portion of the first value is charged against a credit source.