US Patent Issued on June 24 for "System and method for incentivizing repeat transactions with merchants within a prescribed geographic area using payment processing network data and providing for time distributed payments" (Nebraska Inventor)

ALEXANDRIA, Va., June 25 -- United States Patent no. 12,340,389, issued on June 24.

"System and method for incentivizing repeat transactions with merchants within a prescribed geographic area using payment processing network data and providing for time distributed payments" was invented by Rodney Yates (Gretna, Neb.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for incentivizing repeat transactions within a prescribed geographic area using payment process network data includes acquiring a first set of transaction data from a payment network, creating a database of a second set of transaction data of transactions by an enrolled cardholder or merchant, identifying rewards eligible transactions and cr...