Back to results
US 2021/0264453 A1Published application
System, Method, and Computer Program Product for Providing Real-Time Offers Based on Geolocation and Merchant Category
AssigneeVisa International Service Association
InventorsWilliam Joseph Leddy, III, Hongqin Song
Life of this patent
Estimating the term…
Abstract
Provided is a computer-implemented method for providing real-time offers based on geolocation and merchant category. Transaction data for transaction from a plurality of merchants is received. A subset of merchants is determined based on the physical location of the merchants and the merchant category of the merchants. Real-time market activity data is determined for each of the merchants in the subset of merchants. A real-time offer is initiated based on comparing the market activity data of at least one merchant compared to the market activity data of a first merchant.
Claims20
A computer-implemented method for providing offers based on real-time data, comprising:
- receiving, with at least one processor, transaction data associated with a plurality of transactions conducted by a plurality of merchants, each merchant of the plurality of merchants associated with a physical location and at least one merchant category, the plurality of merchants comprising a first merchant associated with at least one first merchant category;
- determining, with at least one processor, a subset of merchants of the plurality of merchants that are:
- (i) associated with physical locations within a threshold distance of a physical location associated with the first merchant and (ii) associated with the at least one first merchant category;
- determining, with at least one processor, real-time market activity data associated with the first merchant and each merchant of the subset of merchants;
- determining, with at least one processor, to initiate at least one offer based on comparing the real-time market activity data associated with the first merchant with the real-time market activity data associated with at least one other merchant;
- and
- initiating the at least one offer in response to determining to initiate the at least one offer, wherein comparing the real-time market activity data comprises:
- generating, with at least one processor, a merchant-transaction index comprising at least one data structure comprising at least one transaction associated with a merchant identifier, a time stamp, and a transaction amount;
- calculating, with at least one processor, a first sum of all transactions within a threshold time period for each merchant of the plurality of merchants that matches the merchant category and is within the threshold distance;
- calculating, with at least one processor, a second sum of all transactions for the first merchant within the threshold time period;
- calculating, with at least one processor, a total sum by adding the first sum to the second sum;
- and
- dividing, with at least one processor, the second sum by the total sum.
10 more elements
(canceled)
A system for providing offers based on real-time data, the system comprising at least one server computer including at least one processor, the at least one server computer programed and/or configured to:
- receive transaction data associated with a plurality of transactions conducted by a plurality of merchants, each merchant of the plurality of merchants associated with a physical location and at least one merchant category, the plurality of merchants comprising a first merchant associated with at least one first merchant category;
- determine a subset of merchants of the plurality of merchants that are:
- (i) associated with physical locations within a threshold distance of a physical location associated with the first merchant and (ii) associated with the at least one first merchant category;
- determine real-time market activity data associated with the first merchant and each merchant of the subset of merchants;
- determine whether to initiate at least one offer based on comparing the real-time market activity data associated with the first merchant with the real-time market activity data associated with at least one other merchant;
- and
- initiate the at least one offer in response to determining to initiate the at least one offer,
- wherein comparing the real-time market activity data comprises:
- generating a merchant-transaction index comprising at least one data structure comprising at least one transaction associated with a merchant identifier, a time stamp, and a transaction amount;
- calculating a first sum of all transactions within a threshold time period for each merchant of the plurality of merchants that matches the merchant category and is within the threshold distance;
- calculating a second sum of all transactions for the first merchant within the threshold time period;
- calculating a total sum by adding the first sum to the second sum;
- and
- dividing the second sum by the total sum.
11 more elements
(canceled)
A computer program product for providing offers based on real-time data, comprising at least one non-transitory computer-readable medium including program instructions that, when executed by at least one processor, cause the at least one processor to:
- receive transaction data associated with a plurality of transactions conducted by a plurality of merchants, each merchant of the plurality of merchants associated with a physical location and at least one merchant category, the plurality of merchants comprising a first merchant associated with at least one first merchant category;
- determine a subset of merchants of the plurality of merchants that are:
- (i) associated with physical locations within a threshold distance of a physical location associated with the first merchant and (ii) associated with the at least one first merchant category;
- determine real-time market activity data associated with the first merchant and each merchant of the subset of merchants;
- determine to initiate at least one offer based on comparing market activity data associated with the first merchant with the real-time market activity data associated with at least one other merchant;
- and
- initiate the at least one offer in response to determining to initiate the at least one offer,
- wherein comparing the real-time market activity data comprises:
- generating a merchant-transaction index comprising at least one data structure comprising at least one transaction associated with a merchant identifier, a time stamp, and a transaction amount;
- calculating a first sum of all transactions within a threshold time period for each merchant of the plurality of merchants that matches the merchant category and is within the threshold distance;
- calculating a second sum of all transactions for the first merchant within the threshold time period;
- calculating a total sum by adding the first sum to the second sum;
- and
- dividing the second sum by the total sum.
11 more elements
(canceled)
Dependencies are inferred from the claim text.