Individualized incentives to improve financing outcomes
US10453086B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 1, 2015 |
| Grant date | Oct 22, 2019 |
| Priority date | — |
| Expiry date | Mar 15, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/322
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A payment processing system is configured to provide financing to a merchant, the merchant having an account with a payment provider who operates the payment processing system to process a plurality of financial transactions between the merchant and buyers via a mobile point-of-sale (POS) terminal. The payment processing system receives repayment of the financing from the merchant by withholding a portion of funds from the plurality of financial transactions processed for the merchant by the payment processing system. The payment processing system evaluates financial transactions conducted by the merchant through the payment processing system and, based on the evaluation, provides the merchant with one or more offers defining an incentive of financing or modification of current financing arrangements in order to induce activity by the merchant. The payment processing system identifies that the merchant has performed the activity identified in the offer and implements the incentive in the offer.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.