Block had no grants in social media as a theme in Q2 2024.

Recent Patents

Application: Money transfer by use of a payment proxy (Patent ID: US20240169328A1)

Block Inc. has filed a patent for a payment service system that associates proxy identifiers (IDs) with financial accounts to facilitate fund transfers. The system generates a second proxy ID based on a configured rule that automatically allocates funds received via this ID to the associated financial account. When the second proxy ID is detected in a message, the system initiates a fund transfer from the sender's account, with some funds directed to the user's account based on the rule. This system allows for secure and automated fund transfers between users within the payment service.

Additionally, the patent outlines the association of multiple proxy IDs with different financial accounts and users, enabling the automatic allocation of transferred funds between these accounts based on configured rules. Users can configure these rules to manage fund transfers efficiently. The use of proxy IDs in messages helps maintain the confidentiality of actual financial account details. The system supports various message formats for fund transfer initiation, including payment applications, messaging applications, text messages, emails, and website posts. Overall, the patent describes a sophisticated payment service system that streamlines fund transfers while ensuring security and confidentiality through proxy IDs and configured rules.

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