Purchase financing via an interactive digital receipt

• US 10,535,054 B1
• Filed: 01/12/2016
• Issued: 01/14/2020
• Est. Priority Date: 01/12/2016
• Status: Active Grant

• Current Assignee: Block, Inc. (f/k/a Square, Inc.)
• Original Assignee: Block, Inc. (f/k/a Square, Inc.)
• Inventors: Sptizer, Garrett
• Primary Examiner(s): Uber, Nathan C
• Assistant Examiner(s): Amsdell, Dana
• Application Number:
  US14/993,804
• Time in Patent Office: 1,463 Days
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/047 using payment protocols involving electronic receipts
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/209 Specified transaction journal output feature, e.g. printed receipt or voice output
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A computer-implemented method includes receiving an indication of a payment transaction between a customer and a merchant by a payment processing system via a mobile point-of-sale (POS) terminal and generating as part of the payment transaction, an interactive digital receipt to be sent to a mobile device associated with the customer. The interactive digital receipt includes an indication of a payment amount associated with the payment transaction and an offer to finance the payment amount and is transmitted by the payment processing system to the mobile device associated with the customer, the receipt having an interactive finance payment component that allows the customer to accept the offer to finance the payment amount. The method further includes receiving an acceptance of the offer to finance the payment amount via the interactive receipt, and receiving repayment from the customer according to repayment terms included in the offer.

Claims

1. A computer-implemented method comprising:

receiving, by a payment processing system via a mobile point-of-sale (POS) terminal, an indication of a payment transaction between a customer and a merchant, the mobile POS terminal configured to run a register application configured to receive an input from the merchant indicating a purchase by the customer and receive payment card information from a payment card reader coupled with the mobile POS terminal to facilitate a transfer of funds from the customer to the merchant for the purchase, wherein the indication of the payment transaction includes the payment card information;

storing, by the payment processing system, the payment card information;

generating, by the payment processing system, a digital receipt for sending to a mobile device associated with the customer, the digital receipt indicating completion of the payment transaction between the customer and the merchant;

transmitting, by the payment processing system, the digital receipt to the mobile device associated with the customer after the completion of the payment transaction between the customer and the merchant, wherein, when presented on the mobile device, the digital receipt includes an offer for the customer to receive financing from the payment processing system to finance a payment amount paid by the customer for the completed payment transaction, wherein a finance payment component of the digital receipt allows the customer to accept the offer to finance the payment amount;

receiving, by the payment processing system, an acceptance of the offer to finance the payment amount via the digital receipt;

in response to receiving the acceptance of the offer to finance the payment amount, depositing, by the payment processing system, the payment amount into an account of the merchant; and

transmitting, by the payment processing system, a plurality of payment operation requests, according to the repayment terms included with the offer to finance the payment amount, to a bank payment system or a card payment network to cause the processing of a plurality of payments smaller than the payment amount using the payment card information until the payment amount is repaid.

2. The method of claim 1, further comprising:

transmitting, by the payment processing system, the payment card information to the bank payment system or the card payment network to process a transaction for the payment amount;

depositing, by the payment processing system, the payment amount in an account of the payment processing system; and

in response to receiving the acceptance of the offer to finance the payment amount, refunding the payment amount to the customer.

3. The method of claim 2, wherein refunding the payment amount to the customer comprises depositing the payment amount into an account of the customer.

4. The method of claim 2, wherein refunding the payment amount to the customer comprises processing, by the payment processing system, a refund of the payment amount using the payment card information.

5. A computer-implemented method comprising:

receiving, by a payment processing system via a mobile point-of-sale (POS) terminal, an indication of a payment transaction between a customer and a merchant, wherein the indication of the payment transaction includes an indication of an identity of the customer;

generating, by the payment processing system, a digital receipt for sending to a mobile device associated with the customer, the digital receipt indicating completion of the payment transaction between the customer and the merchant;

transmitting, by the payment processing system, the digital receipt to the mobile device associated with the customer after the completion of the payment transaction between the customer and the merchant, wherein, when presented on the mobile device, the digital receipt includes an offer for the customer to receive financing from the payment processing system to finance at least a portion of a payment amount paid by the customer for the completed payment transaction, wherein a finance payment component of the digital receipt allows the customer to accept the offer to finance at least the portion of the payment amount;

receiving, by the payment processing system, an acceptance to finance a financed amount corresponding to at least the portion of the payment amount offered to be financed via the digital receipt; and

transmitting, by the payment processing system, an operation request to a bank payment system or a card payment network for repayment from the customer for the financed amount according to repayment terms included with the offer to finance at least the portion of the payment amount.

6. The method of claim 5, further comprising receiving, in association with the indication of the payment transaction, payment card information associated with a payment card of the customer, wherein the mobile POS terminal is configured to run a register application, the register application configured to receive an input from the merchant indicating a purchase by the customer and receive the payment card information from a payment card reader coupled with the mobile POS terminal to facilitate a transfer of funds from the customer to the merchant for the purchase.

7. The method of claim 5, further comprising:

receiving, in association with the indication of the payment transaction, payment card information associated with a payment card of the customer; and

storing, by the payment processing system, the payment card information, wherein the payment processing system transmits the payment operation request to the bank payment system or the card payment network to process a plurality of smaller payments using the payment card information until the financed amount is repaid.

8. The method of claim 5, wherein the payment processing system transmits the payment operation request to the bank payment system to process a plurality of automated clearing house (ACH) payments from an account of the customer until the financed amount is repaid.

9. The method of claim 5, further comprising, in response to receiving the acceptance of the offer to finance the financed amount, depositing, by the payment processing system, the payment amount into an account of the merchant and reducing an amount charged to a payment card of the customer by the financed amount.

10. The method of claim 5, further comprising:

transmitting, by the payment processing system, the payment operation request to the bank payment system or the card payment network to process the payment card information for the payment amount;

depositing, by the payment processing system, the payment amount into an account of the merchant; and

in response to receiving the acceptance of the offer to finance the financed amount, refunding the financed amount to the customer.

11. The method of claim 10, wherein refunding the financed amount to the customer comprises depositing the financed amount into an account of the customer.

12. The method of claim 10, wherein refunding the financed amount to the customer comprises transmitting, by the payment processing system, a refund request to the bank payment system or the card payment network to process a refund of the financed amount using the payment card information.

13. A payment processing system comprising:

a processor; and

a memory storing instructions that, when executed by the computer processor, cause the computer processor to perform operations including;

receiving, via a mobile point-of-sale (POS) terminal, payment information for a POS transaction between a customer and a merchant;

generating, as part of the POS transaction, a digital receipt for sending to a computing device associated with the customer, the digital receipt indicating completion of the POS transaction between the customer and the merchant, and including an indication of a transaction amount associated with the POS transaction;

transmitting the digital receipt to the computing device associated with the customer after the completion of the POS transaction between the customer and the merchant, wherein, when presented on the computing device associated with the customer, the digital receipt includes an offer for the customer to receive financing from the payment processing system to finance the transaction amount paid by the customer for the completed POS transaction, wherein a component of the digital receipt allows the customer to accept the offer to finance the transaction amount;

receiving an acceptance of the offer to finance the transaction amount via the digital receipt; and

receiving repayment from the customer according to repayment terms included with the offer to finance the transaction amount.

14. The system of claim 13, wherein the mobile POS terminal is configured to run a register application, the register application configured to receive an input from the merchant representing the transaction amount and receive the payment information from a payment card reader coupled with the mobile POS terminal to facilitate a transfer of funds from the customer to the merchant.

15. The system of claim 13, wherein the operations further comprise:

storing the payment information; and

processing the payment information in a series of payments to repay the transaction amount.

16. The system of claim 15, wherein the series of payments include automated clearing house (ACH) payments from an account of the customer to repay the transaction amount.

17. The system of claim 13, wherein the operations further comprise, transferring the transaction amount into an account of the merchant in response to receiving the acceptance of the offer to finance the transaction amount.

18. The system of claim 13, wherein the operations further comprise:

processing the payment information for the transaction amount;

transferring the transaction amount into an account of the merchant; and

in response to receiving the acceptance of the offer to finance the transaction amount, refunding the transaction amount to the customer.

19. The system of claim 18, wherein refunding the transaction amount to the customer comprises transferring the transaction amount into an account of the customer.

20. The system of claim 18, wherein refunding the transaction amount to the customer comprises processing a refund of the transaction amount using the payment information.