US Patent Issued to Block on Oct. 27 for "Pre-authorization techniques for transactions" (California Inventors)

ALEXANDRIA, Va., Oct. 27 -- United States Patent no. 12,775,964, issued on Oct. 27, was assigned to Block Inc. (Oakland, Calif.).

"Pre-authorization techniques for transactions" was invented by Ramy Bebawy (San Francisco) and Lily Chiang (San Francisco).

According to the abstract* released by the U.S. Patent & Trademark Office: "Techniques for pre-authorization a transaction between a merchant a customer are described. A payment service may receive payment information of a payment instrument for satisfying a first cost of a first item. The payment service may receive transaction data and determine a highest transaction amount. The payment service may send an authorization request to a credit card network (CCN) to hold a first amount of fu...