System and method for delaying payment processing for biometrically-initiated financial transactions
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United States of America Patent
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Jun 29, 2010
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app pub date -
Feb 11, 2004
filing date -
Feb 11, 2004
priority date (Note) -
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Abstract
A system and method for providing a flexible credit facility that can delay the processing of financial transactions, including biometrically-initiated financial transactions, is disclosed. Delays in payment processing are determined by considering various factors that can depend on the merchant, the consumer, or the transaction itself. In one embodiment, after a financial transaction has been delayed for a determined period of time, it is then submitted to a financial network such as the Automated Clearing House (ACH) network.
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