Luke Paul Nosek

US Patent:

7191151, Mar 13, 2007

Filed:

Aug 23, 2001

Appl. No.:

09/938224

Inventors:

Luke Paul Nosek - Palo Alto CA, US

Assignee:

PayPal, Inc. - Mountain View CA

International Classification:

G06Q 40/00

US Classification:

705 39, 705 44

Abstract:

A system and method for making proceeds of an ACH (Automated Clearing House) transaction available to a user before the transaction is completed. The system may be part of an on-line or traditional merchant or system configured to allow or facilitate payments or fund transfers from users. When a user requests payment or transfer of funds to an entity (e. g. , another user, a merchant, the user's account with the system) via an ACH entry, the system authorizes the amount against a credit source of the user or otherwise verifies that the user has sufficient credit to cover the payment/transfer. If the authorization succeeds, the system places a hold on the credit source in the amount of the transaction. The ACH entry is then initiated and the desired funds are released. If the ACH transaction is rejected or returned, the user's credit source is charged.

US Patent:

8050997, Nov 1, 2011

Filed:

Aug 26, 2002

Appl. No.:

10/228200

Inventors:

Luke Paul Nosek - Palo Alto CA, US
Christopher Richman - Palo Alto CA, US
Roelof Frederik Botha - Los Altos CA, US
Maria Lee - Fremont CA, US
Kyle Hansen - San Francisco CA, US
Todd Pearson - Oakland CA, US
Denise Aptekar - Menlo Park CA, US

Assignee:

PayPal Inc. - San Jose CA

International Classification:

G06Q 40/00

US Classification:

705 37, 705 35, 705 36, 705 38

Abstract:

A system and method for making proceeds of an ACH (Automated Clearinghouse) transaction available to a user before the transaction is completed. The system may be part of an on-line system or traditional merchant configured to facilitate payments or fund transfers from users. A user requests the transfer of funds to an entity (e. g. , another user, a merchant, the user's account with the system) via an ACH entry. The system calculates a risk associated with the user, while considering various data (e. g. , number of previous ACH entries, how many failed, how many succeeded, amount of the transfer). If the risk is low enough, the ACH entry is initiated and the desired funds are released for the transfer even before the ACH entry clears. The ACH entry may be presented as a default choice for funding the transfer.

US Patent:

20060253340, Nov 9, 2006

Filed:

Jun 20, 2006

Appl. No.:

11/471776

Inventors:

Max Levchin - Palo Alto CA, US
Luke Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Banister - Menlo Park CA, US

International Classification:

G06Q 30/00

US Classification:

705026000

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

US Patent:

20080319873, Dec 25, 2008

Filed:

Aug 27, 2008

Appl. No.:

12/199420

Inventors:

Max Levchin - Palo Alto CA, US
Luke Paul Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Alan Banister - Menlo Park CA, US

International Classification:

G06Q 30/00

US Classification:

705 26

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

US Patent:

20080319874, Dec 25, 2008

Filed:

Aug 27, 2008

Appl. No.:

12/199434

Inventors:

Max Levchin - Palo Alto CA, US
Luke Paul Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Alan Banister - Menlo Park CA, US

International Classification:

G06Q 30/00

US Classification:

705 26

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

US Patent:

20080319875, Dec 25, 2008

Filed:

Aug 27, 2008

Appl. No.:

12/199445

Inventors:

Max Levchin - Palo Alto CA, US
Luke Paul Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Alan Banister - Menlo Park CA, US

International Classification:

G06Q 30/00

US Classification:

705 26

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

US Patent:

20080319899, Dec 25, 2008

Filed:

Aug 27, 2008

Appl. No.:

12/199400

Inventors:

Max Levchin - Palo Alto CA, US
Luke Paul Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Alan Banister - Menlo Park CA, US

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

US Patent:

20100262544, Oct 14, 2010

Filed:

Jun 24, 2010

Appl. No.:

12/823042

Inventors:

Max Levchin - Palo Alto CA, US
Luke Paul Nosek - Palo Alto CA, US
Peter Thiel - Palo Alto CA, US
Scott Alan Banister - Menlo Park CA, US

International Classification:

G06Q 40/00
G06Q 20/00
H04W 4/24

US Classification:

705 44, 705 39, 4554141

Abstract:

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.