US Patent Issued to Afterpay on Aug. 12 for "Installment initiation via authorization data transmission" (Australian Inventors)

ALEXANDRIA, Va., Aug. 12 -- United States Patent no. 12,387,190, issued on Aug. 12, was assigned to Afterpay Pty Ltd (Melbourne, Australia).

"Installment initiation via authorization data transmission" was invented by Nicholas Molnar (Melbourne, Australia) and David Whiteman (Melbourne, Australia).

According to the abstract* released by the U.S. Patent & Trademark Office: "A computer-implemented method comprising, in an example, receiving a request to set up a payment for an amount using multiple future installments; analyzing data associated with a user to generate authorization data indicative of an authorization of the multiple future installments; sending the authorization data to a mobile device of the user, wherein the authorization...