System and method for delaying payment processing for biometrically-initiated financial transactions
US7747528B1 · kind B1 · utility
41Cited by
5References
11Claims
0Family size
Assignee
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Key dates
| Filing date | Feb 11, 2004 |
| Grant date | Jun 29, 2010 |
| Priority date | — |
| Expiry date | Aug 20, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for providing a flexible credit facility that can delay the processing of financial transactions, including biometrically-initiated financial transactions, is disclosed. Delays in payment processing are determined by considering various factors that can depend on the merchant, the consumer, or the transaction itself. In one embodiment, after a financial transaction has been delayed for a determined period of time, it is then submitted to a financial network such as the Automated Clearing House (ACH) network.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.