Apparatuses, methods, and systems for transmitting payment proxy information

US11410154B2 · kind B2 · utility

Assignee

• Block, Inc. · US

Inventors

• Brian Grassadonia · San Francisco, US
• Jesse Dorogusker · Palo Alto, US
• Matthew H. Maibach · San Francisco, US
• Jeremy Wade · San Francisco, US
• Michael Moring · San Francisco, US

Key dates

• Filing date: Sep 18, 2015
• Grant date: Aug 9, 2022
• Expiry date: Aug 28, 2037

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04W84/18
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In some examples, methods and systems may process one or more payment transactions between a merchant and a customer by obtaining at least one payment proxy having a syntax including a monetary currency indicator preceding an alphanumeric character. The payment proxy may be transmitted by a transmitter component of a payment beacon device. The method includes generating, through an application accessed through the customer device, a message by identifying the payment proxy in a message and a money transfer amount in the message; parsing the payment proxy to identify the merchant associated with the payment proxy in the message; identifying a merchant financial account associated with the identified merchant, based on a stored association between the merchant financial account and the identified merchant; and initiating, by the payment processing system, a transfer of funds indicative of the money transfer amount from a financial account of the customer to a financial account of the merchant.