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:
Jun. 29, 2010
Filed:
Feb. 11, 2004
System and method for delaying payment processing for biometrically-initiated financial transactions
Timothy L. Robinson, Reston, VA (US);
Bradford R. Schildt, Boulder, CO (US);
Tennille V. Goff, Springfield, VA (US);
Mark B. Robinson, Norwalk, CT (US);
Timothy L. Robinson, Reston, VA (US);
Bradford R. Schildt, Boulder, CO (US);
Tennille V. Goff, Springfield, VA (US);
Mark B. Robinson, Norwalk, CT (US);
YT Acquisition Corporation, Delray Beach, CA (US);
Abstract
A system and method for providing a flexible credit facility that can delay the processing of financial transactions, including biometrically-initiated financial transactions, is disclosed. Delays in payment processing are determined by considering various factors that can depend on the merchant, the consumer, or the transaction itself. In one embodiment, after a financial transaction has been delayed for a determined period of time, it is then submitted to a financial network such as the Automated Clearing House (ACH) network.