IP Library › Granted Patent US 12,346,962
Granted Patent B1
US 12,346,962 · App. 17/872,207 · Granted Jul 1, 2025

Mobile device integrating virtual payment card

Inventors: Audrey Kim (San Francisco, CA); Theodore Mao (Mill Valley, CA)
Assignee: Block, Inc.
G06Q40/03G06N20/00G06Q20/202G06Q20/40
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Quick Facts
Patent No.
US 12,346,962
App. No.
17/872,207
Granted
Jul 1, 2025
Kind
B1
Abstract

In some examples, a payment processing system may receive, via an application executing on a user computing device, payment instrument information of a payment instrument of a user. The payment processing system may send, to the user computing device, information that causes the application on the user computing device to present a user interface including information for a virtual payment card and an amount of financing available to the user through the virtual payment card. Based on receiving an indication of a purchase from a merchant and use the virtual payment card to pay for the purchase with at least a portion of the financing, the payment processing system, may determine that the user has selected, via the application, repayment of the financing according to a payment schedule including a plurality of payments, and may charge the payment instrument of the user for at least one of the payments.

Claims (56)

1. A method comprising:

receiving, by a payment processing system and via an application executing on a computing device associated with a user, information related to the user including payment instrument information of a payment instrument associated with the user;

based at least on the information related to the user, configuring a first user interface of the application to present an interactive option for at least one customized financing offer to the user, each customized financing offer including an amount of financing available to the user;

detecting, on the first user interface, an input that corresponds to a selection of one of the at least one customized financing offer:

based on the input, generating, by the payment processing system, a virtual payment card with an identifier, the identifier being configured to permit use of the virtual payment card only for transactions that are in compliance with terms and conditions of the customized financing offer selected on the first user interface;

configuring a second user interface of the application to present at least the virtual payment card for making one or more of the transactions using the customized financing offer;

receiving, by the payment processing system, a notification of a qualified purchase from a merchant device in response to validating the identifier of the virtual payment card;

determining, by the payment processing system and based on monitoring the application executing on the computing device, that the user has selected repayment of at least a portion of the amount of financing according to a payment schedule including a plurality of payments; and

based at least on the payment schedule, charging, by the payment processing system, the payment instrument associated with the user for at least one payment of the plurality of payments.

2. The method as recited in claim 1 , wherein configuring the second user interface causes the application to store the virtual payment card to enable contactless payment to be made with the computing device and using the virtual payment card.

3. The method as recited in claim 2 , wherein the contactless payment includes wireless communication of payment information between the computing device associated with the user and a merchant device associated with the merchant.

4. The method as recited in claim 1 , wherein receiving the notification of the qualified purchase from the merchant further comprises:

receiving, from the merchant device, the identifier and an indication of a purchase amount; and

based on determining in real time, using the identifier, that the purchase is qualified, sending, to the merchant device, an authorization for the purchase.

5. The method as recited in claim 1 , further comprising:

receiving, from merchant devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and customers, the merchant devices executing instances of a merchant application that configures the merchant devices as point-of-sale (POS) terminals that communicate the transaction information to the payment processing system; and

determining the amount of financing available to the user based at least partially on the transaction information.

6. The method as recited in claim 5 , further comprising inputting a portion of the information related to the user into a trained machine learning model to determine the amount of financing available to the user, the trained machine learning model having been trained using at least a portion of the transaction information.

7. A system comprising:

one or more memories configured to store computer-readable instructions; and

one or more processors of a payment processing system configured to execute the computer-readable instructions to:

receive, via an application executing on a computing device associated with a user, information related to the user including payment instrument information of a payment instrument associated with the user,

based at least on the information related to the user, configure a first user interface of the application to present an interactive option for at least one customized financing offer to the user, each customized financing offer including an amount of financing available to the user;

detect, on the first user interface, an input that corresponds to a selection of one of the at least one customized financing offer;

based on the input, generate a virtual payment card with an identifier, the identifier being configured to permit use of the virtual payment card only for transactions that are in compliance with terms and conditions of the customized financing offer selected on the first user interface;

configure a second user interface of the application to present at least the virtual payment card for making one or more of the transactions using the customized financing offer;

receive a notification of a qualified purchase from a merchant device in response to validating the identifier of the virtual payment card;

determine, based on monitoring the application executing on the computing device, that the user has selected repayment of at least a portion of the amount of financing according to a payment schedule including a plurality of payments; and

based at least on the payment schedule, charge the payment instrument associated with the user for at least one payment of the plurality of payments.

8. The system as recited in claim 7 , wherein configuring the second user interface causes the application to store the virtual payment card to enable contactless payment to be made with the computing device and using the virtual payment card.

9. The system as recited in claim 8 , wherein the contactless payment includes wireless communication of payment information between the computing device associated with the user and a merchant device associated with the merchant.

10. The system as recited in claim 7 , wherein the one or more processors are further configured to receive notification of the qualified purchase from the merchant based on:

receiving, from the merchant device, the identifier and an indication of a purchase amount; and

based on determining in real time, using the identifier, that the purchase is qualified, sending an authorization for the purchase to the merchant device.

11. The system as recited in claim 7 , the one or more processors are further configured to execute the computer-readable instructions to:

receive, from merchant devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and customers, the merchant devices executing instances of a merchant application that configures the merchant devices as point-of-sale (POS) terminals that communicate the transaction information to the payment processing system; and

determine the amount of financing available to the user based at least partially on the transaction information.

12. The system as recited in claim 11 , the one or more processors are further configured to execute the computer-readable instructions to input a portion of the information related to the user into a trained machine learning model to determine the amount of financing available to the user, the trained machine learning model having been trained using at least a portion of the transaction information.

13. One or more non-transitory computer-readable media comprising computer-readable instructions that, when executed by one or more processors of a payment processing system, configure the payment processing system to:

receive, via an application executing on a computing device associated with a user, information related to the user including payment instrument information of a payment instrument associated with the user;

based at least on the information related to the user, configure a first user interface of the application to present an interactive option for at least one customized financing offer to the user, each customized financing offer including an amount of financing available to the user;

detect, on the first user interface, an input that corresponds to a selection of one of the at least one customized financing offer;

based on the input, generate a virtual payment card with an identifier, the identifier being configured to permit use of the virtual payment card only for transactions that are in compliance with terms and conditions of the customized financing offer selected on the first user interface;

configure a second user interface of the application to present at least the virtual payment card for making one or more of the transactions using the customized financing offer;

receive a notification of a qualified purchase from a merchant device in response to validating the identifier of the virtual payment card;

determine, based on monitoring the application executing on the computing device, that the user has selected repayment of at least a portion of the amount of financing according to a payment schedule including a plurality of payments; and

based at least on the payment schedule, charge the payment instrument associated with the user for at least one payment of the plurality of payments.

14. The one or more non-transitory computer-readable media as recited in claim 13 , wherein configuring the second user interface causes the application to store the virtual payment card to enable contactless payment to be made with the computing device and using the virtual payment card.

15. The one or more non-transitory computer-readable media as recited in claim 14 , wherein the contactless payment includes wireless communication of payment information between the computing device associated with the user and a merchant device associated with the merchant.

16. The one or more non-transitory computer-readable media as recited in claim 13 , wherein execution of the computer-readable instructions cause the payment processing system to receive notification of the qualified purchase from the merchant based on:

receiving, from the merchant device, the identifier and an indication of a purchase amount; and

based on determining in real time, using the identifier, that the purchase is qualified sending an authorization for the purchase to the merchant device.

17. The one or more non-transitory computer-readable media as recited in claim 13 , wherein execution of the computer-readable instructions further cause the payment processing system to:

receive, from merchant devices associated with a plurality of merchants, transaction information of transactions performed between the plurality of merchants and customers, the merchant devices executing instances of a merchant application that configures the merchant devices as point-of-sale (POS) terminals that communicate the transaction information to the payment processing system; and

determine the amount of financing available to the user based at least partially on the transaction information.

18. The one or more non-transitory computer-readable media as recited in claim 17 , wherein execution of the computer-readable instructions further cause the payment processing system to input a portion of the information related to the user into a trained machine learning model to determine the amount of financing available to the user, the trained machine learning model having been trained using at least a portion of the transaction information.

Assignments (2)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Jul 25, 2022
From: KIM, AUDREY; MAO, THEODORE
To: SQUARE, INC.
Reel/Frame 060604/0285 →
CHANGE OF NAME Recorded Jul 25, 2022
From: SQUARE, INC.
To: BLOCK, INC.
Reel/Frame 060853/0770 →
Continuity (2)
Continuation 17035848 · Sep 29, 2020
Continuation 15814378 · Nov 15, 2017
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