Square, Inc.

Bora Fezga

Zachary Margolis

Michael Cormier

Christina Riechers

Clay Robbins

Mark Rubin

Justin Meretab

Swapnil Chavan

A stored balance with multi-channel withdrawal access is described. In an example, a server of a payment processing service can determine a stored balance based on funds received from point-of-sale (POS) transactions processed via the payment processing service on behalf of a merchant. The stored balance can be maintained in a ledger of the payment processing service. The server can associate the stored balance with a payment instrument of the merchant. The stored balance can be accessible via the payment instrument substantially immediately after funding of a transaction at the POS and via (i) an instant deposit to a linked bank account of the merchant and (ii) a scheduled deposit to the linked bank account, wherein the instant deposit is available substantially immediately after funding of the transaction and the scheduled deposit is made at a prearranged time after the funding of the transaction.

Stored balance with multi-channel withdrawal access

Activation of a payment instrument via an interaction with a payment reader is described herein. A request for a payment instrument that is to be associated with an account of the merchant that is maintained in a ledger of a payment processing service can be received from a point-of-sale (POS) application associated with a merchant device of a merchant. The merchant device can receive a request to activate the payment instrument and can prompt the merchant to cause an interaction between the payment instrument and a payment reader associated with the merchant device. Payment data associated with the payment instrument can be received from the payment reader, and it can be determined that the payment data corresponds to known payment data associated with the payment instrument. Accordingly, the payment instrument can be activated to enable the merchant to use the payment instrument for accessing the account.

Activation of payment card via interaction with payment reader

Growing community of inventors

San Francisco, CA, United States of America

Bora Fezga