Square, Inc.

Block, Inc.

Christopher Michael Brock

Brian Grassadonia

Michael Dustin Moring

Emily Chiu

Crissy Solh

In one embodiment, a method includes receiving a request for payment associated with a transaction between a first user and a second user, where the request specifies a payment amount in a fiat currency and identifying an indication that the first user intends to satisfy the request for payment using a non-fiat instrument. The method also includes initiating a first transfer of a value corresponding to the payment amount in the non-fiat instrument from a first balance of the first user to one or more service balances of a payment service and initiating a second transfer of a value corresponding to the payment amount in the fiat currency from the one or more service balances of the payment service to a second balance of the second user.

Cryptocurrency payment network

In one embodiment, a securities transaction system includes a ledger storing securities balances of security assets managed by a payment service and owned by users of the payment service. The securities balances relate to securities purchased on from a securities exchange system. The securities transaction system includes processors for executing instructions executable to send, to a mobile wallet application associated with the payment service, information regarding one or more of the security assets managed by the payment service; receive, from the mobile wallet application, a purchase request to acquire an amount of one of the security assets; update, via the ledger, the securities balances to reflect amounts of security assets respectively managed by the payment service and owned by the user based on the purchase request; and initiate one or more transactions from the securities exchange system to maintain a specified level of the security asset.

Payment network for security assets

In one embodiment, a method includes receiving, by a payment service system (PSS), a request for a cash advance drawn from a line of credit approved for a user. The line of credit is associated with an account maintained by the PSS and includes default repayment terms. The method includes in response to receiving the request, identifying, by the PSS, context characteristics of the request. The method includes determining, by the PSS using a machine learning model applied to the identified characteristics and historical context information stored at the payment service system, that the requested cash advance qualifies for repayment terms that are different form the default repayment terms. The method includes based on the determination, generating a set of modified repayment terms to be associated with the cash advance. The method includes transmitting, by the PSS, an indication of the modified repayment terms to a user device for authorization.

System and method for generating dynamic repayment terms

In one embodiment, a method includes receiving, by a payment service system (PSS) from a first device associated with a first user, a request to borrow an amount from a second user. The first user is associated with a first user account and the second user is associated with a second user account, both of which are maintained by the PSS. The method includes in response to receiving the request, identifying, by the PSS, a first transaction history associated with the first user account and a second transaction history associated with the second user account in a data store of the PSS. The method includes determining, by the PSS, repayment terms to be associated with the request to borrow the amount based on the first transaction history and the second transaction history.

In one embodiment, a method includes receiving a request for payment associated with a transaction between a merchant and a customer, where a payment amount is specified in a fiat currency, determining a preference of the customer to pay for the transaction using a security asset, and verifying that a value of the security asset held by the payment system and assigned to the customer is sufficient to satisfy the payment amount. The method also includes initiating a transfer of at least a portion of the value of the security asset from a customer balance of the customer to a service balance of the payment service, initiating a transfer of a value in the fiat currency from the service balance of the payment service to a merchant balance of the merchant, and storing a record of the transaction between the customer and the merchant.

Payment network using tradable financial assets

In one embodiment, a method includes purchasing an amount of cryptocurrency assets from a cryptocurrency source system and storing, in a cryptocurrency wallet maintained by a payment service, private encryption keys representative of the purchased cryptocurrency assets. The method also includes assigning, in a ledger maintained by the payment service, ownership of amounts of cryptocurrency to the payment service and users of the payment service. The method further includes receiving, via an application executing on a device of a user of the payment service and associated with the payment service, a request from the user to acquire or sell an amount of cryptocurrency and, based on the request, processing the transfer of the amount of cryptocurrency by adjusting, in the ledger, the respective amounts of cryptocurrency owned by the user and the payment service, wherein the transfer is processed via the payment service instead of the cryptocurrency source system.

In one embodiment, a method includes receiving, from a point-of-sale system associated with a merchant, a request for payment associated with a transaction, wherein a payment amount is specified in a fiat currency. The method also includes determining a preference of the customer to pay for the transaction using a cryptocurrency and calculating a cryptocurrency value of the payment based on an exchange rate between the cryptocurrency and the fiat currency. The method further includes initiating a transfer of cryptocurrency value from a customer balance of the customer to a service balance of the payment service, initiating a transfer of a value in the fiat currency from the service balance of the payment service to a merchant balance of the merchant, and generating a record of the transaction between the customer and the merchant.

The present technology provides a payment service for providing financial transactions between a customer and merchant wherein the customer can pay in any currency and the merchant can be paid in any currency. Furthermore, the present technology supports payment using cryptocurrency, while improving such transactions in a way that takes advantage of benefits of such transactions while overcoming drawbacks such as delays in processing.

Technology is disclosed for mitigating account enumeration and thus enhances network security. The technology can receive from a client computing device a sequence of characters corresponding to a portion of an email address input by a user. The technology retrieves a set of email addresses that have a common first portion identical to the received sequence of characters and generates hashed data. The hashed data is sent to the client computing device. A result value is then generated by hashing the input email address by using the same hashing function as the hashed data. If the result value is in the hashed data, the technology displays a text region for collecting from the user a password.

Growing community of inventors

Berkeley, CA, United States of America

Christopher Michael Brock