The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Sep. 03, 2019
Filed:
Feb. 28, 2017
Square, Inc., San Francisco, CA (US);
Kalyani Iyer, San Francisco, CA (US);
Mehmet Zahit Guneri, Sunnyvale, CA (US);
Dennis Jarosch, Berkeley, CA (US);
Michael Ward, San Francisco, CA (US);
Kenji Kaneda, Cupertino, CA (US);
Square, Inc., San Francisco, CA (US);
Abstract
A payment processing system is configured to support purchase transactions generated by merchant point-of-sale (POS) devices. Information regarding the purchase transactions is archived and periodically analyzed using machine learning to create a predictive model relating transaction attributes to bank interchange fees. The predictive model is then used to estimate interchange fees that are later passed on to merchants. This allows more accurate settlement with merchants in situations where reports regarding actual interchange fees are not yet available.