Electronic layaway

US11410215B1 · kind B1 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Darren M. Goetz · Salinas, US
• Dennis E. Montenegro · Concord, US
• Alicia Y. Moore · San Ramon, US
• Timothy R. Ward · Mesa, US

Key dates

• Filing date: Oct 17, 2019
• Grant date: Aug 9, 2022
• Expiry date: Oct 18, 2039

Classification

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

Abstract

The present disclosure describes devices and methods for facilitating specific transactions between a seller and a purchaser. In particular, a computing device an accounts circuit, accounts database, and a network interface is disclosed. In some embodiments, the specific transaction is a layaway transaction. The computing device receives a request to facilitate the transaction between the seller and purchaser. The computing device then sets up a transient account for the transaction, facilitates funding of the account, and finalizes the transaction in response to a condition being met.