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US 12,614,221 B2Granted
System and methods for determining enhanced counters based on integrating merchant profiles
AssigneeCapital One Services, LLC
InventorWalker Ramirez
Life of this patent
Estimating the term…
Abstract
A system and method for generating enhanced counter offers is disclosed. The system and method can generate, for a merchant, a list of alternative inventory items to a given item. A plurality of historic deal metrics based on past financing terms for each of the alternative inventory items may be determined. An alternative sale price based on applying the plurality of historic deal metrics to a merchant listed sale price for the given item may be generated. A report based on the alternative sale price may be generated. The report may be transmitted to the client device for display on an interactive graphical user interface (GUI).
Claims15
A computer implemented method comprising:
- receiving, by one or more computing devices and via input fields in an interactive graphical user interface (GUI) of an application installed on a client device, offered terms including a merchant listed sale price for a given item;
- performing in real-time from when the offered terms are received:
- generating, by the one or more computing devices and for a merchant, a list of alternative inventory items to the given item by accessing, via an application programming interface (API) coupled to a database storing product information, and generating a similarity score between the given item and a plurality of items based on the product information;
- retrieving, by the one or more computing devices and via the API, a plurality of historic deal metrics based on past financing terms for each of the alternative inventory items;
- generating, by the one or more computing devices, an alternative sale price based on applying the plurality of historic deal metrics to the merchant listed sale price for the given item, wherein the alternative sale price is generated by:
- identifying the merchant listed sale price,
- identifying a percentage change to the merchant listed sale price,
- identifying a scaling factor,
- multiplying the percentage change with the merchant listed sale price and the scaling factor to obtain a first value,
- adding the first value to a value of one to obtain a second value, and
- multiplying the second value with the merchant listed sale price to obtain the alternative sale price;
- generating, by the one or more computing devices, a report in the form of a formatted graphic listing the alternative sale price, a graphic of the given item, and product information related to the given item;
- and
- transmitting, by the one or more computing devices and to the client device, the report for display on the interactive GUI.
11 more elements
A non-transitory computer readable medium including instructions that when executed by one or more processors of a computing system, cause the computing system to perform operations comprising:
- receiving, via input fields in an interactive graphical user interface (GUI) of an application installed on a client device, offered terms including a merchant listed sale price for a given item;
- performing in real-time from when the offered terms are received:
- generating, for a merchant, a list of alternative inventory items to the given item by accessing, via an application programming interface (API) coupled to a database storing product information, and generating a similarity score between the given item and a plurality of items based on the product information;
- retrieving, via the API, a plurality of historic deal metrics based on past financing terms for each of the alternative inventory items;
- generating an alternative sale price based on applying the plurality of historic deal metrics to the merchant listed sale price for the given item, wherein the alternative sale price is generated by:
- identifying the merchant listed sale price,
- identifying a percentage change to the merchant listed sale price,
- identifying a scaling factor,
- multiplying the percentage change with the merchant listed sale price and the scaling factor to obtain a first value,
- adding the first value to a value of one to obtain a second value, and
- multiplying the second value with the merchant listed sale price to obtain the alternative sale price;
- generating a report in the form of a formatted graphic listing the alternative sale price, a graphic of the given item, and product information related to the given item;
- and
- transmitting, by the one or more computing devices and to the client device, the report for display on the interactive GUI.
11 more elements
A computing system comprising:
- a memory storing instructions;
- a processor coupled to the memory and configured to process the stored instructions to perform operations comprising:
- receive, via input fields in an interactive graphical user interface (GUI) of an application installed on a client device, offered terms including a merchant listed sale price for a given item;
- generate, for a merchant, a list of alternative inventory items to the given item by accessing, via an application programming interface (API) coupled to a database storing product information, and generating a similarity score between the given item and a plurality of items based on the product information;
- retrieve, via the API, a plurality of historic deal metrics based on past financing terms for each of the alternative inventory items;
- generate an alternative sale price based on applying the plurality of historic deal metrics to the merchant listed sale price for the given item, wherein the alternative sale price is generated by:
- identifying the merchant listed sale price,
- identifying a percentage change to the merchant listed sale price,
- identifying a scaling factor,
- multiplying the percentage change with the merchant listed sale price and the scaling factor to obtain a first value,
- adding the first value to a value of one to obtain a second value, and
- multiplying the second value with the merchant listed sale price to obtain the alternative sale price;
- generate a report in the form of a formatted graphic listing the alternative sale price, a graphic of the given item, and product information related to the given item;
- and
- a communication unit including microelectronics, coupled to the processor, configured to:
- transmit, to the client device, the report for display on the interactive GUI.
13 more elements
Dependencies are inferred from the claim text.