US 12,136,081 B2
Replacing a customer card payment with a one-time loan at a point of sale
Joseph Butvin, Columbus, OH (US); and Kurt Brown, Columbus, OH (US)
Assigned to BREAD FINANCIAL PAYMENTS, INC., Columbus, OH (US)
Filed by BREAD FINANCIAL PAYMENTS, INC., Columbus, OH (US)
Filed on Jun. 1, 2022, as Appl. No. 17/804,854.
Application 17/804,854 is a continuation of application No. 16/708,072, filed on Dec. 9, 2019, granted, now 11,379,821.
Claims priority of provisional application 62/894,609, filed on Aug. 30, 2019.
Prior Publication US 2022/0366398 A1, Nov. 17, 2022
Int. Cl. G06Q 40/03 (2023.01); G06Q 20/34 (2012.01)
CPC G06Q 20/34 (2013.01) [G06Q 40/03 (2023.01)] 3 Claims
OG exemplary drawing
 
1. A computer-implemented method for replacing a credit card payment with a one-time loan at a point of sale (POS), the method comprising:
receiving, at a POS, a credit card swipe interaction, the credit card swipe interaction provided as a transaction payment, said credit card swipe interaction providing an electronic transfer of identification information from said credit card to said POS;
providing, to a one-time loan provider computer system, a total monetary amount of the transaction payment and the identification information;
utilizing, at the one-time loan provider computer system, the identification information to perform a credit screening for the total monetary amount of the transaction payment;
receiving, at said POS and from the one-time loan provider computer system, a one-time loan offer, the one-time loan offer comprising a one-time loan to be used in place of the credit card swipe interaction for said transaction payment;
providing, from said POS and to said one-time loan provider computer system, an acceptance of said one-time loan offer;
receiving, at said POS and from said one-time loan provider computer system, said one-time loan;
using, at said POS, said one-time loan to complete said transaction payment, said one-time loan used in place of said credit card swipe interaction provided as said transaction payment; and
providing, from said POS and to said one-time loan provider computer system, a bank account information obtained from said credit card swipe interaction to establish an autopayment for a repayment of said one-time loan.