US 12,131,376 B2
Payment processor financing of customer purchases
Brian Boates, Oakland, CA (US); Adam Jeremy Fern, Oakland, CA (US); Andrew Kimball, Oakland, CA (US); and John Bryan Scott, Oakland, CA (US)
Assigned to Block, Inc., Oakland, CA (US)
Filed by BLOCK, INC., Oakland, CA (US)
Filed on Jun. 13, 2022, as Appl. No. 17/838,690.
Application 17/838,690 is a continuation of application No. 17/000,650, filed on Aug. 24, 2020, granted, now 11,720,959.
Application 17/000,650 is a continuation of application No. 15/798,868, filed on Oct. 31, 2017, granted, now 10,755,349, issued on Aug. 25, 2020.
Application 15/798,868 is a continuation of application No. 14/616,515, filed on Feb. 6, 2015, granted, now 9,824,394, issued on Nov. 21, 2017.
Prior Publication US 2022/0301052 A1, Sep. 22, 2022
Int. Cl. G06Q 40/03 (2023.01); G06Q 20/02 (2012.01); G06Q 20/08 (2012.01); G06Q 20/20 (2012.01); G06Q 20/32 (2012.01); G06Q 20/40 (2012.01)
CPC G06Q 40/03 (2023.01) [G06Q 20/02 (2013.01); G06Q 20/08 (2013.01); G06Q 20/20 (2013.01); G06Q 20/204 (2013.01); G06Q 20/322 (2013.01); G06Q 20/405 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A non-transitory computer-readable medium storing instructions executable by one or more processors associated with a financing service provider system to cause the financing service provider system to perform operations comprising:
receiving, by the financing service provider system, via a payment processing system and from a plurality of point-of-sale (POS) terminals associated with a plurality of merchants, respectively, transaction information of a plurality of transactions for purchases of items by a plurality of customers from the plurality of merchants, respectively;
training, by the financing service provider system, a machine-learning model using, as training data, at least the transaction information of the plurality of purchases of items by the plurality of customers, the transaction information including payment histories of the customers for the purchases and a value of the purchases made by the customers, to train the machine-learning model to determine, at least in part: (i) eligibility to obtain financing for transactions, and (ii) customized financing terms;
receiving, by the financing service provider system, and via a user interface associated with a merchant and presented by a device, a request to finance a transaction between a customer and the merchant, wherein the device is configured to run an application configured to receive an input indicating a product or service for the transaction and facilitate a transfer of funds for the transaction;
using, by the financing service provider system, the machine-learning model and transaction data associated with the transaction to determine, at least in part, eligibility of the customer to obtain financing for the transaction;
based at least on determining the eligibility of the customer, using, by the financing service provider system, the machine-learning model and the transaction data to determine an offer for financing including financing terms customized for the customer, the financing terms including an amount to be financed and repayment terms for the amount, the repayment terms including repayment of the amount over two or more partial payments, wherein the financing is associated with a fee to be paid to the financing service provider system, wherein the fee is associated with at least one partial payment of the two or more partial payments, and wherein each of the two or more partial payments are defined in association with the offer;
receiving, by the financing service provider system, and via an interaction with a user interface associated with the customer, an indication of an acceptance by the customer of the offer including the financing terms;
transmitting, by the financing service provider system, funds to the merchant prior to the customer paying each of the two or more partial payments; and
receiving, by the financing service provider system, from at least one payment option of the customer and according to the repayment terms, a portion of the amount that corresponds to a first partial payment of the two or more partial payments.