Approaches for merchant financing
US9727912B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 19, 2014 |
| Grant date | Aug 8, 2017 |
| Priority date | — |
| Expiry date | Sep 19, 2034 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/20
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A payment system can determine whether a merchant is eligible for a cash advance for a particular amount, along with a fee for the cash advance. The particular amount can be determined by evaluating previous financial transactions that were conducted by the merchant through the payment system. Once a determination is made that the merchant is eligible for the cash advance, the payment system can send an offer for the cash advance in the particular amount to the merchant, for example, in the form of an e-mail or text. The merchant can accept the offer for the cash advance by sending an acceptance to the payment system, for example, through a financing interface provided by the payment system. Upon accepting the offer, the merchant is provided the cash advance for the particular amount, for example, in the form of an electronic deposit in a financial account of the merchant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.