Processing financial products

US10963875B2 · kind B2 · utility

Assignee

• Vyze, Inc. · US

Inventors

• Kristin Marie Alvarez · Austin, US
• Terence Spielman · Austin, US
• Thomas G. Carter · Kent, US
• Christopher James Smith · Round Rock, US
• Victorino Cardenas, JR. · Austin, US

Key dates

• Filing date: Sep 8, 2014
• Grant date: Mar 30, 2021
• Expiry date: Aug 11, 2035

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/385
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Financing obtained from a lender may be processed by a retailer in a manner similar to a credit card. For example, transaction data associated with a transaction to acquire one or more items from the retailer may be entered at a point of sale terminal of the retailer. A request may be sent for a temporary shopping pass associated with an account of a consumer at the lender. The temporary shopping pass may be used as a virtual payment instrument to access financing (e.g., a loan, a lease, or a credit) provided by the lender. After receiving the temporary shopping pass, the shopping pass data included in the temporary shopping pass, such as a one-time card number, may be entered into the point of sale terminal. The transaction may be completed by processing the shopping pass data as a credit card type tender using the point of sale terminal.