System and methods for financing merchant business needs
US9786005B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 19, 2014 |
| Grant date | Oct 10, 2017 |
| Priority date | — |
| Expiry date | Jul 12, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q10/06315
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A payment system can determine when a business need for a merchant is expected to occur for a particular time period. The payment system can also determine whether a merchant is eligible for a cash advance for a particular amount, along with a fee for the cash advance. Once a determination is made that the merchant is eligible for the cash advance, the payment system can send the merchant a notification describing the expected business need for the particular time period along with an offer for the cash advance. The merchant can accept the offer for the cash advance by sending an acceptance to 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.