Intelligent application of reserves to transactions
US11430070B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 5, 2020 |
| Grant date | Aug 30, 2022 |
| Priority date | — |
| Expiry date | Aug 5, 2040 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/018
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Intelligent application of reserves to transactions are described. In an example, server(s) associated with a payment processing service receive, from a point-of-sale (POS) device operated by a merchant, transaction data associated with a payment transaction between the merchant and a customer. Based on a predictive model, the server(s) can determine a level of risk associated with the merchant and/or the payment transaction and can determine a portion of the transaction to withhold from a settlement amount of the payment transaction based at least in part on the level of risk. The portion can be deposited into a reserves account associated with the payment processing service to satisfy costs associated with chargeback requests.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.