Merchant cash advance payment deferrals
US10628816B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 5, 2018 |
| Grant date | Apr 21, 2020 |
| Priority date | — |
| Expiry date | Jun 22, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In some examples, a payment processing system may receive, from merchant devices of a plurality of merchants, transaction data of transactions performed between the merchants and customers. The system may provide financing to an account of a first merchant with repayment terms based on one or more attributes of the first merchant determined from the received transaction data. The system may receive service information from at least one service performed for a business of the first merchant and may determine a state of the business of the first merchant. Based on the received transaction data and the state of the business of the first merchant, the system may determine that the first merchant is expected to have a decrease in sales. The system may determine a deferral period based on the expected decrease in sales and may refrain from taking repayment of the financing for the deferral period.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.