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US 11,379,913 B1Granted
Electronic payroll funds transfer delay and failed transfer coverage
AssigneeBlock, Inc.
InventorsLinnea Perelli-Minetti, Caroline Hollis, Theodore Kosev, Connor H. Dunn, Emily McLinden
Life of this patent
Estimating the term…
Abstract
The proposed system allows merchants to have more time to finalize payroll and to have access to capital for payroll processing. This system/process may include identifying eligible employer devices based on a risk score and transaction data received by the system. The system and process further includes providing an interface element via a user interface that activates a delay upon selection, and delaying initiation of an electronic payroll payment from a first date to a second date responsive to receiving selection of the interface element.
Claims20
A non-transitory computer-readable medium storing instructions that, when executed by one or more processors, cause the one or more processors to:
- receive first payroll data from an instance of a payroll application associated with an employer, the payroll application associated with a payment service;
- receive first transaction data from an instance of a merchant application associated with the employer, the merchant application associated with the payment service;
- generate a model configured to determine risk scores associated with employers payment of payroll to employees;
- train the model utilizing past payroll data associated with multiple merchants and past transaction data associated with the multiple merchants such that a trained model is generated;
- generate, utilizing the trained model, a risk score based at least in part on the first payroll data and the first transaction data;
- provide, based at least in part on determining that the risk score satisfies a threshold risk score, instructions to display, via a user interface of the payroll application, a selectable option that enables the employer to modify a payroll payment from a first date to a second date that is different from the first date, wherein the threshold risk score is based at least in part on second payroll data and second transaction data associated with a merchant in a same merchant category as the employer;
- and
- initiate an electronic funds transfer, based at least in part on receiving a selection of the selectable option by the employer, from an employer account to an employee account on the second date.
5 more elements
A computer-implemented method comprising:
- receiving first payroll data from an instance of a payroll application associated with an employer, the payroll application associated with a payment service;
- receiving first transaction data from an instance of a merchant application associated with the employer, the merchant application associated with the payment service;
- generating a model configured to determine risk scores associated with employers payment of payroll to employees;
- training the model utilizing past payroll data associated with multiple merchants such that a trained model is generated;
- generating, utilizing the trained model, a risk score based at least in part on the first payroll data and the first transaction data;
- providing, based at least in part on determining that the risk score satisfies a threshold risk score, instructions to display, via a user interface of the payroll application, a selectable option that enables the employer to modify a payroll payment from a first date to a second date that is different from the first date, wherein the threshold risk score is based at least in part on second payroll data and second transaction data associated with a merchant in a same merchant category as the employer;
- and
- initiating an electronic funds transfer, based at least in part on receiving a selection of the selectable option by the employer from an employer account to an employee account on the second date.
5 more elements
A system comprising:
- one or more processors configured by executable instructions to perform operations comprising:
- receiving first payroll data from an instance of a payroll application associated with an employer, the payroll application associated with a payment service;
- receiving first transaction data from an instance of a merchant application associated with the employer, the merchant application associated with the payment service;
- generating a model configured to determine risk scores associated with employers payment of payroll to employees;
- training the model utilizing past payroll data associated with multiple merchants such that a trained model is generated;
- generating, utilizing the trained model, a risk score based at least in part on the first payroll data and the first transaction data;
- providing, based at least in part on determining that the risk score satisfies a threshold risk score, instructions to display, via a user interface of the payroll application, a selectable option that enables the employer to modify a payroll payment from a first date to a second date that is different from the first date, wherein the threshold risk score is based at least in part on second payroll data and second transaction data associated with a merchant in a same merchant category as the employer;
- and
- initiating an electronic funds transfer, based at least in part on receiving a selection of the selectable option by the employer from an employer account to an employee account on the second date.
6 more elements
Dependencies are inferred from the claim text.