Invention Grant
- Patent Title: Fund withholding for payroll payments
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Application No.: US14334455Application Date: 2014-07-17
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Publication No.: US10007953B1Publication Date: 2018-06-26
- Inventor: Amir Nathoo , James Colin Brady , Anish Bhatt
- Applicant: Square, Inc.
- Applicant Address: US CA San Francisco
- Assignee: Square, Inc.
- Current Assignee: Square, Inc.
- Current Assignee Address: US CA San Francisco
- Agency: Lee & Hayes, PLLC
- Main IPC: G07F19/00
- IPC: G07F19/00 ; G06Q40/00 ; G06Q20/10

Abstract:
In some examples, a service provider may provide a payroll service and a payment processing service to businesses. For instance, with authorization from the employer, the service provider may withhold a percentage of funds received as sales revenue through the payment service. For example, the service provider may withhold a percentage of sales revenue each day to be used to pay at least a portion of the payroll payments paid to employees of the employer. Alternatively, the service provider may determine an amount of payroll payments currently due to be paid on a given day, and may deduct at least a portion of this amount from the sales revenue of the employer for that day. As another alternative, the service provider may make payroll payments in advance, and may withhold a percentage of the employer's daily sales revenue until the cash advance is paid back.
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