Electronic payroll funds transfer delay and failed transfer coverage

US11379913B1 · kind B1 · utility

Assignee

• Block, Inc. · US

Inventors

• Linnea Perelli-Minetti · Seattle, US
• Caroline Hollis · San Francisco, US
• Theodore Kosev · Seattle, US
• Connor H. Dunn · San Francisco, US
• Emily McLinden · San Francisco, US

Key dates

• Filing date: May 31, 2018
• Grant date: Jul 5, 2022
• Expiry date: May 31, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The proposed system allows merchants to have more time to finalize payroll and to have access to capital for payroll processing. This system/process may include identifying eligible employer devices based on a risk score and transaction data received by the system. The system and process further includes providing an interface element via a user interface that activates a delay upon selection, and delaying initiation of an electronic payroll payment from a first date to a second date responsive to receiving selection of the interface element.