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:
May. 27, 2014
Filed:
Oct. 06, 2011
Luke Paul Nosek, Palo Alto, CA (US);
Christopher Richman, Palo Alto, CA (US);
Roelof Frederik Botha, Los Altos, CA (US);
Maria Lee, Fremont, CA (US);
Kyle Hansen, San Francisco, CA (US);
Todd Pearson, Oakland, CA (US);
Denise Aptekar, Menlo Park, CA (US);
Luke Paul Nosek, Palo Alto, CA (US);
Christopher Richman, Palo Alto, CA (US);
Roelof Frederik Botha, Los Altos, CA (US);
Maria Lee, Fremont, CA (US);
Kyle Hansen, San Francisco, CA (US);
Todd Pearson, Oakland, CA (US);
Denise Aptekar, Menlo Park, CA (US);
PayPal Inc., San Jose, CA (US);
Abstract
A system and method for making proceeds of an ACH (Automated Clearinghouse) transaction available to a user before the transaction is completed. The system may be part of an on-line system or traditional merchant configured to facilitate payments or fund transfers from users. A user requests the transfer of funds to an entity (e.g., another user, a merchant, the user's account with the system) via an ACH entry. The system calculates a risk associated with the user, while considering various data (e.g., number of previous ACH entries, how many failed, how many succeeded, amount of the transfer). If the risk is low enough, the ACH entry is initiated and the desired funds are released for the transfer even before the ACH entry clears. The ACH entry may be presented as a default choice for funding the transfer.