US Patent Issued to Block on July 15 for "Selection of a financial account associated with a proxy object" (California Inventors)

ALEXANDRIA, Va., July 16 -- United States Patent no. 12,361,396, issued on July 15, was assigned to Block Inc. (Oakland, Calif.).

"Selection of a financial account associated with a proxy object" was invented by James Paul Thome (San Francisco), Kartik Lamba (Berkeley, Calif.) and Imran Sana Khan (San Anselmo, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Techniques for using a stored balance associated with a payment instrument are described. Transaction data associated with a transaction is received, wherein a payment instrument linked to a stored balance of a user is provided for payment of the transaction. In one example, a computer system determines that the stored balance is insufficient to sat...