Systems and methods of encoding BNPL transactions for terminal devices

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United States of America

PATENT NO 12190345
SERIAL NO

18463448

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ATTORNEY / AGENT: (SPONSORED)

Importance

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Abstract

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Systems, methods, and computer readable media may facilitate buy-now-pay-later (BNPL) transactions at brick-and-mortar locations of merchants that otherwise lack an ability to interface with financial institutions (FIs) that finance BNPL transactions. Likewise, the system may be used to conduct BNPL transactions for merchants that lack an electronic commerce presence. For example, a payment network used to process payment cards such as credit cards may be leveraged to communicate with user devices, merchant point of sale (POS) terminals, and BNPL servers operated by FIs to mediate BNPL transactions. In particular, the payment network may receive, from merchants, a list of items that are eligible for BNPL transactions and installment offers from FIs to pay for BNPL transactions. The payment network may match eligible items with installment offers, select the best installment offers for the buyer, and mediate exchanges between the parties to settle payments for the BNPL transaction.

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Patent Owner(s)

  • MASTERCARD INTERNATIONAL INCORPORATED

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Agrawal, Pradeep Ahmedabad, IN 6 57
Gupta, Pranav Mr10 sukhliya, IN 24 270
Kumar, Rakesh Stamford, US 405 12380
Limbani, Jaimin Rajkot, IN 1 0
Saini, Abhinav Naresh Navi Mumbai, IN 1 0
Shah, Mehulkumar Edison, US 1 0

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