Edward Chung

Title: Innovations by Edward Chung in Payment Technologies

Introduction

Edward Chung is an accomplished inventor based in San Francisco, CA, known for his contributions to payment technologies. He holds three patents that focus on enhancing the efficiency of point-of-sale transactions. His innovative approaches aim to streamline payment processes for merchants and consumers alike.

Latest Patents

One of Edward Chung's latest patents is for expedited point-of-sale merchant payments. This payment service receives interaction data from multiple entities and analyzes these interactions to identify those eligible for expedited payment. The expedited payment allows for near real-time transfer of funds to a financial account of an entity. A user interface is presented via an entity device, showcasing eligible interactions. A pop-up window overlays the user interface, allowing users to request expedited payment for selected interactions. Upon receiving an indication that the entity has selected the display element, the expedited payment is initiated. Following this, a non-expedited payment is initiated for any remaining interactions. Another patent focuses on supporting purchase transactions generated by merchant point-of-sale devices. This service evaluates the risk of subsequent chargebacks for each transaction and notifies merchants when expedited payment is available for low-risk transactions. Merchants can then initiate expedited payments via a debit card linked to their bank accounts, while other transactions are settled in a non-expedited manner.

Career Highlights

Edward Chung has worked with notable companies such as Square, Inc. and Block, Inc. His experience in these organizations has allowed him to develop and refine his innovative ideas in the payment technology sector.

Collaborations

Edward has collaborated with talented individuals like Kyle Matson and Robert Harrison Gilliam, contributing to the advancement of payment solutions.

Conclusion

Edward Chung's work in payment technologies exemplifies the impact of innovation on everyday transactions. His patents not only enhance the efficiency of payment processes but also provide valuable solutions for merchants and consumers.