# US 8,788,353 B2 · System and method for presenting a financing instrument at a point of sale > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 8,788,353 B2 - Document ID: US8788353B2 - Status: Granted - Kind: B2 - Application number: 13/692,437 - Filed: 2012-12-03 - Published: 2014-06-05 - Granted: 2014-07-22 - Earliest claimed: 2012-12-03 - Assignees: Hardison Holding Company, LLC - Applicants: Hardison Holding Company, LLC - Inventors: Robert R. Hills - Web page: https://patentgrep.com/patent/US8788353B2 ## CPC - G06Q 40/03: Credit; Loans; Processing thereof - G06Q 20/202: {Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR} - G06Q 20/4016: {involving fraud or risk level assessment in transaction processing} - G06Q 20/4037: {Remote solvency checks} - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract A system and method for extending credit to a purchaser at a point-of-sale terminal. A merchant registers with a host system operated by or for a lending financial institution. The host receives a request for an installment purchase agreement from a purchaser-borrower. The installment purchase agreement represents a payment instrument for payment to the merchant of a purchase price for goods or services selected for purchase by the purchaser-borrower from the merchant. The host system receives financial information from the purchaser-borrower and velocity data accessible to the host system. The host may determine from the financial information received from the purchaser-borrower whether the credit worthiness of the purchaser borrow exceeds a first threshold and determine from the velocity data whether a risk factor exceeds a second threshold. ## Claims ### Claim 1 A method for extending credit to a purchaser-borrower at a point-of-sale terminal, the method comprising: registering by a processor a merchant with a host system operated by or for a lending financial institution; receiving by the processor via a terminal operated by or for the registered merchant a request for an installment purchase agreement from a purchaser-borrower, wherein the request is made in the course of a transaction for the purchase of goods or services selected for purchase by the purchaser-borrower from the registered merchant and the installment purchase agreement represents a payment instrument for payment to the registered merchant of a purchase price for the goods or services; sending by the processor a request to the terminal operated by or for the registered merchant for financial information from the purchaser-borrower; sending by the processor a request to the host system for velocity data; receiving by the processor the financial information and the velocity data; determining by the processor from the financial information received from the purchaser-borrower whether the credit worthiness of the purchaser-borrower exceeds a first threshold; determining by the processor from the velocity data whether a risk factor exceeds a second threshold; and authorizing by the processor payment of the registered merchant in full by the lending financial institution for the goods or services elected for purchase by the purchaser-borrower when both the first and second thresholds are exceeded. ### Claim 2 (depends on 1) The method of claim 1, wherein the velocity data are selected from the group consisting of a frequency of requests from the purchaser-borrower, a count of rejected requests, a count of approved requests, and a cumulative total of combined borrowings by the purchaser-borrower. ### Claim 3 (depends on 1) The method of claim 1, wherein the financial information comprises a bank routing/transit number and wherein the evaluating step comprises a Mod Ten computation on the routing/transit number. ### Claim 4 (depends on 1) The method of claim 1, wherein the financial information comprises a social security number of the purchaser-borrower and wherein the evaluating step comprises determining from a record whether the social security number is assigned to a person known to be deceased or is identified as for work purposes only. ### Claim 5 (depends on 1) The method of claim 1, wherein the financial information comprises a social security number of the purchaser-borrower, wherein the host system comprises an historical transaction datastore, wherein historical transaction datastore comprises records of prior requests for installment purchase agreements associated with social security numbers of each requesting party, and wherein the evaluating step comprises cross checking the social security number of the purchaser-borrower with the data store records to determine a risk history of the purchaser borrower. ### Claim 6 (depends on 5) The method of claim 5, wherein the risk history comprises criteria selected from the group consisting of a loan frequency, an approval amount, and a measure of cumulative outstanding loans. ### Claim 7 (depends on 1) The method of claim 1, further comprising pre-authorizing payment of sums due under the installment purchase agreement from an account of the purchaser-borrower when the purchaser-borrower is credit worthy as determined from the financial information. ### Claim 8 (depends on 7) The method of claim 7, wherein the account of the purchaser-borrower is selected from the group consisting of a bank account, a credit card or a debit card. ### Claim 9 (depends on 1) The method of claim 1, wherein the merchant is selected from the group consisting of a brick-and-mortar merchant and a web-based merchant. ### Claim 10 (depends on 1) The method of claim 1, wherein the services comprise medical services. ### Claim 11 (depends on 1) The method of claim 1, wherein the request for an installment purchase agreement from a purchaser-borrower is received in advance of the purchase of goods or services from the merchant. ### Claim 12 (depends on 11) The method of claim 11, wherein the point-of-sale terminal is selected from the group consisting of a terminal or computer located at a kiosk and a computer operated by the purchaser-borrower. ### Claim 13 (depends on 1) The method of claim 1, wherein the method further comprises: receiving by the processor a payment history of the purchaser-borrower; and establishing by the processor the first threshold using the payment history.