Distributed system for custom financing
First Claim
1. A computer-implemented method comprising:
- receiving, by one or more server computing devices of a payment and financing system, from a plurality of merchant computing devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and a plurality of customers, each merchant computing device having a respective instance of a merchant application installed thereon for configuring the merchant computing device as a point-of-sale (POS) device, the merchant application further configuring each POS device to communicate the transaction information over a network to the one or more server computing devices, wherein a first one of the POS devices is associated with a financial account of a first merchant of the plurality of merchants such that receiving proceeds from a plurality of transactions processed via the first POS device causes the payment and financing system to deposit the proceeds in the financial account of the first merchant;
determining, based on the transaction information received from the first POS device, one or more factors indicative of a business of the first merchant;
comparing, by the one or more server computing devices, the transaction information received from the plurality of merchant computing devices with the one or more factors determined for the first merchant to generate, based on the comparing, a custom financing offer for the first merchant of the plurality of merchants, the custom financing offer including repayment terms and a repayment time for a financed amount;
sending, by the one or more server computing devices, to the first POS device, at least a portion of the custom financing offer, to cause, at least in part, presentation of at least the portion of the custom financing on a user interface of the first POS device;
in response to an indication of acceptance of the custom financing offer, providing, by the one or more server computing devices, the financed amount to an account associated with the first merchant; and
withholding from deposit, by the one or more server computing devices, during the repayment time and corresponding with the repayment terms, a portion of funds from the plurality of transactions processed via the first POS device for repayment of the financed amount.
2 Assignments
0 Petitions
Accused Products
Abstract
A payment and financing system can determine whether a merchant is eligible for financing for a particular amount. The particular amount can be determined by evaluating previous financial transactions that were conducted by the merchant and other merchants through the payment and financing system. Once a determination is made that the merchant is eligible for the cash advance, the payment system can send a customized offer for financing in the particular amount to the merchant via a merchant computing device. The merchant can accept the offer for the cash advance by sending an acceptance to the payment and financing system, for example, through a financing interface on the merchant computing device. Upon accepting the offer, the merchant is provided the financed amount, for example, in the form of an electronic deposit in a financial account of the merchant.
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Citations
20 Claims
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1. A computer-implemented method comprising:
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receiving, by one or more server computing devices of a payment and financing system, from a plurality of merchant computing devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and a plurality of customers, each merchant computing device having a respective instance of a merchant application installed thereon for configuring the merchant computing device as a point-of-sale (POS) device, the merchant application further configuring each POS device to communicate the transaction information over a network to the one or more server computing devices, wherein a first one of the POS devices is associated with a financial account of a first merchant of the plurality of merchants such that receiving proceeds from a plurality of transactions processed via the first POS device causes the payment and financing system to deposit the proceeds in the financial account of the first merchant; determining, based on the transaction information received from the first POS device, one or more factors indicative of a business of the first merchant; comparing, by the one or more server computing devices, the transaction information received from the plurality of merchant computing devices with the one or more factors determined for the first merchant to generate, based on the comparing, a custom financing offer for the first merchant of the plurality of merchants, the custom financing offer including repayment terms and a repayment time for a financed amount; sending, by the one or more server computing devices, to the first POS device, at least a portion of the custom financing offer, to cause, at least in part, presentation of at least the portion of the custom financing on a user interface of the first POS device; in response to an indication of acceptance of the custom financing offer, providing, by the one or more server computing devices, the financed amount to an account associated with the first merchant; and withholding from deposit, by the one or more server computing devices, during the repayment time and corresponding with the repayment terms, a portion of funds from the plurality of transactions processed via the first POS device for repayment of the financed amount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system comprising:
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one or more processors; and one or more computer-readable media storing instructions that, when executed by the one or more processors of a payment and financing system, cause the one or more processors to perform operations comprising; receiving, by the one or more processors, from a plurality of merchant computing devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and a plurality of customers, each merchant computing device having a respective instance of a merchant application installed thereon for configuring the merchant computing device as a point-of-sale (POS) device, the merchant application further configuring each POS device to communicate the transaction information over a network to the one or more processors, wherein a first one of the POS devices is associated with a financial account of a first merchant of the plurality of merchants such that receiving proceeds from a plurality of transactions processed via the first POS device causes the payment and financing system to deposit the proceeds in the financial account of the first merchant; determining, based on the transaction information received from the first POS device, one or more factors indicative of a business of the first merchant; comparing, by the one or more processors, the transaction information received from the plurality of merchant computing devices with the one or more factors determined for the first merchant to generate, based on the comparing, a custom financing offer for the first merchant of the plurality of merchants, the custom financing offer including repayment terms and a repayment time for a financed amount; sending, by the one or more processors, to the first POS device associated with the first merchant, at least a portion of the custom financing offer, to cause, at least in part, presentation of at least the portion of the custom financing on a user interface of the first POS device; in response to an indication of acceptance of the custom financing offer, providing, by the one or more processors, the financed amount to an account associated with the first merchant; and withholding from deposit, by the one or more processors, during the repayment time and corresponding with the repayment terms, a portion of funds from the plurality of transactions processed via the first POS device for repayment of the financed amount. - View Dependent Claims (10, 11, 12, 13, 14)
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15. A non-transitory computer-readable medium storing instructions which, when executed by one or more processors of a payment and financing system, configure the one or more processors to perform operations comprising:
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receiving, by the one or more processors, from a plurality of merchant computing devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and a plurality of customers, each merchant computing device having a respective instance of a merchant application installed thereon for configuring the merchant computing device as a point-of-sale (POS) device, the merchant application further configuring each POS device to communicate the transaction information over a network to the one or more processors, wherein a first one of the POS devices is associated with a financial account of a first merchant of the plurality of merchants such that receiving proceeds from a plurality of transactions processed via the first POS device causes the payment and financing system to deposit the proceeds in the financial account of the first merchant; determining, based on the transaction information received from the first POS device, one or more factors indicative of a business of the first merchant; comparing, by the one or more processors, the transaction information received from the plurality of merchant computing devices with the one or more factors determined for the first merchant to generate, based on the comparing, a custom financing offer for the first merchant of the plurality of merchants, the custom financing offer including repayment terms and a repayment time for a financed amount; sending, by the one or more processors, to the first POS device associated with the first merchant, at least a portion of the custom financing offer, to cause, at least in part, presentation of at least the portion of the custom financing on a user interface of the first POS device; in response to an indication of acceptance of the custom financing offer, providing, by the one or more processors, the financed amount to account associated with the first merchant; and withholding from deposit, by the one or more processors, during the repayment time and corresponding with the repayment terms, a portion of funds from the plurality of transactions processed via the first POS device for repayment of the financed amount. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification