US 11,727,452 B1
Invoice financing and repayment
Douglas Justin Shearer, Alameda, CA (US); and Matthew Allen Todd, Oakland, CA (US)
Assigned to BLOCK, INC., Oakland, CA (US)
Filed by BLOCK, INC., San Francisco, CA (US)
Filed on Dec. 21, 2020, as Appl. No. 17/128,911.
Application 17/128,911 is a continuation of application No. 15/722,003, filed on Oct. 2, 2017, granted, now 10,872,362.
Application 15/722,003 is a continuation of application No. 14/675,257, filed on Mar. 31, 2015, granted, now 9,779,432, issued on Oct. 3, 2017.
Int. Cl. G06Q 30/04 (2012.01); G06Q 30/0207 (2023.01); G06Q 20/32 (2012.01); G06Q 20/20 (2012.01)
CPC G06Q 30/04 (2013.01) [G06Q 20/202 (2013.01); G06Q 20/322 (2013.01); G06Q 30/0224 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A computer-implemented method comprising:
receiving, by a payment processing system, transaction information of transactions performed between a plurality of merchants and a plurality of buyers, wherein a respective computing device is associated with each respective merchant of the plurality of merchants, wherein an application executable on the respective computing device configures the respective computing device as a POS terminal configured to send the transaction information to the payment processing system, wherein the payment processing system is configured to process payments between the plurality of merchants and the plurality of buyers;
receiving, by the payment processing system, an indication of an invoice generated by a merchant and payable by a purchasing entity;
determining, by the payment processing system, terms for the merchant to finance at least part of an amount of the invoice for the purchasing entity, wherein the terms are based on at least one of:
(a) at least a portion of the transaction information received from a computing device associated with the merchant and configured by the application as a POS terminal;
(b) at least a portion of the transaction information associated with at least one other purchasing entity determined to be related to the purchasing entity based on at least one of: a geographic location related to the purchasing entity, or a business type related to the purchasing entity; or
(c) at least a portion of the transaction information associated with the purchasing entity;
transmitting, by the payment processing system, the terms to the merchant;
based at least on receiving, by the payment processing system, an acceptance of the terms from the merchant to finance at least the part of the amount of the invoice, transmitting the terms to the purchasing entity; and
based at least on receiving an acceptance of the terms from the purchasing entity, providing, by the payment processing system, and to the merchant for payment of at least the part of the amount of the invoice, funds subsequently collected from the purchasing entity.