Affirm’s patent involves a method and apparatus for merchants to request financing and content support for marketing events. The system evaluates requests, provides content based on context information, and projects sales impact using a neural network. This innovation streamlines merchant self-service assistance in event planning. GlobalData’s report on Affirm gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Affirm, was a key innovation area identified from patents. Affirm's grant share as of May 2024 was 2%. Grant share is based on the ratio of number of grants to total number of patents.
Merchant self-service assistance for financing and content support for events
An apparatus and method for facilitating merchant self-service assistance to financing and content support for a marketing event have been granted a patent (Publication Number: US11961143B2). The apparatus includes processing circuitry that receives a request from a merchant for approval for financing and content generation to support the marketing event. The request includes financial constraints associated with customer financing support. The processing circuitry determines whether to approve the merchant based on comparing information provided in the request to approval standards. If approved, an event questionnaire is sent to the merchant's user device, allowing the merchant to enter context information regarding the content requested. The apparatus generates the content in a format supported by the merchant's web architecture, provides a tool kit for the merchant to define additional content, and projects the sales impact of the marketing event using a convolutional neural network trained on financial data.
Furthermore, the apparatus determines an approval level for the merchant, corresponding to different thresholds for approval. The merchant's request may include bids for targeted customers or product stock keeping units, type information about the marketing event, dates, and financing details. The content generated can be added to the merchant's website based on a template selected by the merchant. The method also provides a projection of the sales impact of the marketing event in terms of sales volume and profit for specific product types and stock keeping units. Overall, the patented apparatus and method streamline the process for merchants seeking financing and content support for marketing events, providing a user-friendly interface and valuable sales impact projections.
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