US 12,190,345 B1
Systems and methods of encoding BNPL transactions for terminal devices
Mehulkumar Shah, Edison, NJ (US); Pradeep Agrawal, Ahmedabad (IN); Abhinav Naresh Saini, Navi Mumbai (IN); Jaimin Limbani, Rajkot (IN); Pranav Gupta, Mr10 sukhliya (IN); and Rakesh Kumar, Stamford, CT (US)
Assigned to MASTERCARD INTERNATIONAL INCORPORATED, New York, NY (US)
Filed by MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US)
Filed on Sep. 8, 2023, as Appl. No. 18/463,448.
Int. Cl. G06Q 30/02 (2023.01); G06Q 20/20 (2012.01); G06Q 20/24 (2012.01); G06Q 20/34 (2012.01); G06Q 30/0238 (2023.01); G06K 7/14 (2006.01)
CPC G06Q 30/0238 (2013.01) [G06Q 20/202 (2013.01); G06Q 20/208 (2013.01); G06Q 20/24 (2013.01); G06Q 20/351 (2013.01); G06K 7/1417 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A system for interfacing between a point of sale (POS) device and a payment network through an application on a user device in order to facilitate an installment offer at a physical location of a merchant for a buy-now-pay later (BNPL) transaction, the system comprising:
a user device programmed by the application to:
scan a machine-readable code that encodes transaction data relating to a purchase at the POS device, the transaction data comprising a merchant identifier that identifies the merchant, an item identifier that identifies an item involved in the transaction, and a price of the item;
decode the transaction data from the machine-readable code;
transmit to the payment network, the decoded merchant identifier, the item identifier, and the price;
receive, from the payment network, one or more installment offers, identified from among a plurality of installment offers, to finance the purchase of the item;
present, for display a list of the one or more installment offers, wherein an indication of a selection of an installment offer is provided to the POS device, which initiates a BNPL transaction with the payment network;
receive, from the payment network, an installment offer plan associated with the selected installment offer;
transmit a confirmation of acceptance of the installment offer plan;
receive, from the payment network, a BNPL identifier that is linked with a virtual card number (VCN) issued by a financial institution (FI) for paying the merchant for the BNPL transaction, the BNPL identifier being encoded in a second machine-readable code for display to pay for the BNPL transaction; and
display the second machine-readable code that encodes the BNPL identifier for the POS device, wherein the POS device is to decode the BNPL identifier from the second machine-readable code and is to transmit the decoded BNPL to a payment server that identifies the VCN based on the BNPL identifier and initiates the BNPL transaction based on the VCN.