US Patent Issued to PAYPAL on April 15 for "Instant bank account verification through debit card network" (California Inventor)

ALEXANDRIA, Va., June 5 -- United States Patent no. 12,277,597, issued on April 15, was assigned to PAYPAL INC. (San Jose, Calif.).

"Instant bank account verification through debit card network" was invented by Qilin Hu (Cupertino, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A bank account can be authenticated or confirmed by a user providing an account number and a debit card number. The payment provider then obtains user account information from the bank through a debit card network. The payment provider authenticates the account if the account numbers match. In another embodiment, authentication further requires a portion of a current bank balance in the account provided by the user to match the...