Analytics-based payment option selection
AssigneeInternational Business Machines Corporation
InventorHarish Rajagopal
Life of this patent
Estimating the term…
Abstract
Aspects of the present invention provide an approach for selecting a payment option. Each item of a set of items being purchased during a commercial transaction is extracted from a bill for payment. Additionally, a commercial location at which the commercial transaction is being performed is also determined. For each of a plurality of payment options associated with a purchaser, a set of attributes corresponding to the payment option is generated. Based on these attributes, a cognitive system selects an optimal payment option. This optimal payment option is the one or more of the purchaser's payment options that is determined to generate the greatest benefit for the set of items being purchased at the commercial location.
Claims20
A computer implemented method for selecting a payment option, comprising:
- extracting, by a mobile device of a user from a bill for payment, each item of a set of items being purchased during a commercial transaction;
- determining, by the mobile device, a commercial location at which the commercial transaction is being performed;
- generating a set of attributes corresponding to each payment option of a plurality of payment options associated with a purchaser;
- identifying, by a cognitive system that is separate from the mobile device, a benefit from using the payment option for every item of the set of items at the commercial location based on the set of attributes for each payment option of the plurality of payment options;
- automatically selecting, using the cognitive system, a set of optimal payment options that includes an optimal payment option that is determined to generate a greatest economic benefit for every item of the set of items being purchased at the commercial location based on the set of attributes;
- and
- automatically submitting, by the mobile device, the optimal payment option selected by the cognitive system as the payment option for the set of items.
A system for selecting a payment option, comprising:
- a memory medium comprising instructions;
- a bus coupled to the memory medium;
- and
- a processor coupled to the bus that when executing the instructions causes the system to perform a method, comprising:
- extracting, by a mobile device of a user from a bill for payment, each item of a set of items being purchased during a commercial transaction;
- determining, by the mobile device, a commercial location at which the commercial transaction is being performed;
- generating a set of attributes corresponding to each payment option of a plurality of payment options associated with a purchaser;
- identifying, by a cognitive system that is separate from the mobile device, a benefit from using the payment option for every item of the set of items at the commercial location based on the set of attributes for each payment option of the plurality of payment options;
- automatically selecting, using the cognitive system, a set of optimal payment options that includes an optimal payment option that is determined to generate a greatest economic benefit for every item of the set of items being purchased at the commercial location based on the set of attributes;
- and
- automatically submitting, by the mobile device, the optimal payment option selected by the cognitive system as the payment option for the set of items.
A computer program product embodied in a computer readable medium that, when executed by a computer device, performs a method for selecting a payment option, the method comprising:
- extracting, by a mobile device of a user from a bill for payment, each item of a set of items being purchased during a commercial transaction;
- determining, by the mobile device, a commercial location at which the commercial transaction is being performed;
- generating a set of attributes corresponding to each payment option of a plurality of payment options associated with a purchaser;
- identifying, by a cognitive system that is separate from the mobile device, a benefit from using the payment option for every item of the set of items at the commercial location based on the set of attributes for each payment option of the plurality of payment options;
- automatically selecting, using the cognitive system, a set of optimal payment options that includes an optimal payment option that is determined to generate a greatest economic benefit for every item of the set of items being purchased at the commercial location based on the set of attributes;
- and
- automatically submitting, by the mobile device, the optimal payment option selected by the cognitive system as the payment option for the set of items.
Dependencies are inferred from the claim text.