Intelligent loan offering at a point of sale
US11580599B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 25, 2022 |
| Grant date | Feb 14, 2023 |
| Priority date | — |
| Expiry date | Mar 25, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In some examples, a computing device receives, from a point of sale (POS) device of a merchant, an authorization request for authorizing a payment instrument for a transaction for an item. The computing device sends an authorization approval to the POS device, and determines that a user is eligible for a loan for an amount and the loan is to be repaid at a particular frequency during a period of time. The computing device determines that an amount of the transaction is less than or equal to the amount, and causes an offer for the loan to be presented via a user interface of a payment application that is executable by a user device of the user. Based on acceptance of the loan, the computing device applies the loan funds to the transaction for the item, and the loan is repaid at the particular frequency.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.