Individualized incentives to improve financing outcomes
US11367096B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 21, 2019 |
| Grant date | Jun 21, 2022 |
| Priority date | — |
| Expiry date | Dec 29, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/322
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In some examples, a payment processing system may send, based on transaction information received from a plurality of merchant devices, an incentive for a first merchant to whom financing has been provided, to achieve a performance target during a specified time period. For instance, the incentive may include a proposed modification to repayment terms for the financing to be implemented if the merchant achieves the performance target during the specified time period. The system may track transactions processed for the first merchant during the specified time period. Based on the tracking, the system may determine that the merchant has achieved the performance target during the specified time period for receiving the incentive, and may implement the modification of the repayment terms for the financing for the first merchant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.