Systems and methods for consumer steering based on real-time transaction cost information

A system for consumer steering during a commercial transaction, the system comprising:

• a server computing device including
• a communication element configured to communicate with a client computing device through a communication network;
• a memory element storing a plurality of software components;
• and
• a processing element in communication with the communication element and the memory element, the processing element configured to execute a plurality of software components including:
• a cost analysis component for receiving information regarding a plurality of payment types from the client computing device, and computing a cost score associated with each payment type,
• a reward engine for determining at least one reward associated with an alternative payment type and a value, different from the original payment types, and communicating the at least one reward and the at least one alternative payment type to the client computing device,
• an accept payment component for receiving information from the client computing device indicating one of the payment types, and
• a checkout component for transferring a receipt to the consumer and visually presenting the lost reward to the consumer if a payment type without a reward was received or transferring the reward to the consumer if a payment type with a reward was received;
• and
• a client computing device including
• a communication element configured to communicate with the server computing device through the communication network;
• a memory element storing at least one software component;
• and
• a processing element in communication with the communication element and the memory element, the processing element configured to execute an electronic wallet application which enables electronic commercial transactions and a client steering component for receiving the at least one reward, the associated alternative payment type, and the associated value.

A non-transitory computer-readable storage medium with an executable program stored thereon, wherein the program instructs a processing element to perform the following steps:

• receiving original payment type information from a consumer utilizing the client computing device;
• computing a cost score associated with the original payment type;
• determining a reward associated with an alternative payment type, different from the original payment type;
• visually presenting the reward and the alternative payment type to the consumer;
• receiving information from the consumer indicating either the original payment type or the alternative payment type;
• transferring a receipt to the consumer;
• and
• visually presenting the lost reward to the consumer if the original payment type was received or transferring the reward to the consumer if the alternative payment type was received.