US Patent Issued to Wells Fargo Bank on Aug. 18 for "Geofenced payments" (California Inventor)

ALEXANDRIA, Va., Aug. 18 -- United States Patent no. 12,711,483, issued on Aug. 18, was assigned to Wells Fargo Bank N.A. (San Francisco).

"Geofenced payments" was invented by Haila Fine (San Francisco).

According to the abstract* released by the U.S. Patent & Trademark Office: "A computer-implemented method includes detecting a mobile device associated with an entity entering a geographic location, monitoring a position of the entity within the geographic location, determining movements of the entity within the geographic location based on monitoring the position of the entity, identifying an action performed by the entity within the geographic location based on the movements of the entity, determining an amount of a payment based on the...