Method and system for engaging in a transaction between a consumer and a merchant
OwnerThomas H. Keithley, Mark L. Lavelle +1inventors
InventorsThomas H. Keithley, Mark L. Lavelle, Vincent W. Talbert
Life of this patent
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Abstract
Disclosed is a method for engaging in a transaction between a consumer and a merchant. In particular, the present invention is directed to a method and system for providing instant credit by a credit issuer to the consumer at a point-of-sale of the merchant. In addition, the present invention is directed to a method and system for identifying at least one optimal credit product from a plurality of credit products of at least one credit issuer to a consumer.
Claims20
A system comprising:
- one or more processors;
- and
- one or more memories in communication with the one or more processors and adapted to store a plurality of machine-readable instructions which when executed by the one or more processors are adapted to cause the system to:
- receive a consumer/transaction data set including a plurality of data fields populated with data reflecting a consumer, a merchant, a transaction, a credit issuer or a combination thereof;
- analyze at least a portion of the consumer/transaction data set;
- based upon results of the analysis:
- (a) offer instant credit by the credit issuer to the consumer at a point-of-sale;
- or
- (b) prevent an offer of instant credit by the credit issuer to the consumer at the point-of-sale;
- and
- if the instant credit is offered to the consumer and the consumer accepts the offered instant credit at the point-of-sale, consummate the transaction between the consumer and the merchant using the instant credit.
A method comprising:
- obtaining, electronically by a processor, a consumer/transaction data set including a plurality of data fields populated with data reflecting a consumer, a merchant, a transaction, a credit issuer or any combination thereof;
- wherein the consumer and the merchant engage in the transaction at a point-of-sale of the merchant;
- analyzing, electronically by the processor, at least a portion of the consumer/transaction data set;
- based upon results of the analysis:
- (i) offering instant credit of the credit issuer to the consumer at the point-of-sale;
- or
- (ii) preventing an offer of instant credit of the credit issuer to the consumer at the point-of-sale;
- and
- if instant credit is offered to the consumer:
- (i) receiving acceptance of the offer of instant credit from the consumer;
- and
- (ii) consummating the transaction between the consumer and the merchant using the provided instant credit.
A non-transitory computer readable medium on which are stored computer readable instructions and, when executed by a processor, cause the processor to:
- receive a consumer/transaction data set including a plurality of data fields populated with data reflecting a consumer, a merchant, a transaction, a credit issuer or a combination thereof;
- analyze at least a portion of the consumer/transaction data set;
- based upon results of the analysis:
- (a) offer instant credit by the credit issuer to the consumer at a point-of-sale;
- or
- (b) prevent an offer of instant credit by the credit issuer to the consumer at the point-of-sale;
- and
- if the instant credit is offered to the consumer and the consumer accepts the offered instant credit at the point-of-sale, consummate the transaction between the consumer and the merchant using the instant credit.
Dependencies are inferred from the claim text.