US Patent Issued to Affirm on Dec. 23 for "System and method for making purchase payments after payment failures" (California Inventors)

ALEXANDRIA, Va., Dec. 23 -- United States Patent no. 12,505,453, issued on Dec. 23, was assigned to Affirm Inc. (San Francisco).

"System and method for making purchase payments after payment failures" was invented by Youyou Yang (Sunnyvale, Calif.), Daniel Kaufman (San Francisco) and Edward Oistacher (San Francisco).

According to the abstract* released by the U.S. Patent & Trademark Office: "When a loan payment failure occurs, a loan server can retry a payment from a client's financial institution sources rather than immediately charging the client for the payment failure. The payment retry is scheduled on a Friday that is at least three days after the payment failure. If a payment failure from the financial institution sources to the loa...