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US 8,805,725 B2Granted
Payment vehicle recommendations based on payment rules
AssigneeBank of America Corporation
InventorMatthew A. Calman
Life of this patent
Estimating the term…
Abstract
Systems and methods for providing payment vehicle recommendations are provided herein. In the systems and methods, a transaction associated with one of a transaction amount and purchase items is identified based on the transaction data; one or more payment rules associated with the transaction are identified; the terms of the one or more payment rules are compared with the transaction amount or purchase items; the most favorable payment vehicle for the transaction is determined based on the comparison of the terms of the one or more payment rules and the transaction amount or purchase items; and a recommendation of at least one payment vehicle is provided based on the determination of the most favorable payment vehicle on a display of a mobile device of a user.
Claims20
A system for providing payment vehicle recommendations to a user, the system comprising:
- a computer apparatus including a processor and a memory;
- and
- a payment software module stored in the memory, comprising executable instructions that when executed by the processor cause the processor to:
- receive transaction data comprising at least one merchant and codes segregated according to the user's eligibility under one or more user enrolled government programs;
- identify transactions associated with one or more transaction parameters included in the transaction data and the codes;
- identify one or more payment rules associated with the user, the one or more payment rules comprising at least government consumer protection laws, the user enrolled government programs, and government regulations;
- compare the terms of the one or more payment rules with the one or more transaction parameters and codes;
- determine the payment vehicles that meet the terms of the one or more payment rules based on the comparison of the terms of the one or more payment rules and the one or more transaction parameters;
- determine that a first merchant is not authorized to process at least one of the payment vehicles that meet the terms of the government regulations;
- determine that a second merchant applies polices that are unfavorable to the user;
- and
- provide on a display of a mobile device of the user that is in communication with the system a first recommendation that does not include the at least one payment vehicle that meets the terms of the government regulations and a second recommendation that comprises at least another payment vehicle that complies with the government consumer protection laws.
9 more elements
A method for providing payment vehicle recommendations to a user, the method comprising:
- receiving transaction data comprising at least one merchant and codes segregated according to the user's eligibility under one or more user enrolled government programs;
- identifying, via a computer device processor, transactions associated with one or more transaction parameters based on the transaction data;
- and the codes
- identifying, via a computer device processor, one or more payment rules associated with the transaction, the one or more payment rules comprising at least government consumer protection laws, user enrolled government programs, and government regulations;
- comparing, via a computer device processor, the terms of the one or more payment rules and the one or more transaction parameters;
- determining, via a computer device processor, the payment vehicles for the transaction that meet the terms of the one or more payment rules based on the comparison of the terms of the one or more payment rules and the one or more transaction parameters;
- determining, via a computer device processor, that a first merchant is not authorized to process at least one of the payment vehicles that meet the terms of the government regulations;
- determining, via a computer device processor, that a second merchant applies polices that are unfavorable to the user;
- and
- providing on a display of a mobile device of the user, via a computer device processor, a first recommendation that does not include that at least one payment vehicle that meet the terms of the government regulations and a second recommendation that comprises at least another payment vehicle that complies with the government consumer protection laws.
7 more elements
A computer program product for providing payment vehicle recommendations to a user, the computer program product comprising:
- a non-transitory computer readable storage medium having computer readable program code embodied therewith, the computer readable program code comprising:
- a computer readable program code configured to receive transaction data comprising at least one merchant and codes segregated according to the user's eligibility under one or more user enrolled government programs;
- a computer readable program code configured to identify transactions associated with one or more transaction parameters included in the transaction data and the codes;
- a computer readable program code configured to identify one or more payment rules associated with the transaction, the one or more payment rules comprising at least government consumer protection laws, the user enrolled government programs, and government regulations;
- a computer readable program code configured to compare the terms of the one or more payment rules with the one or more transaction parameters;
- a computer readable program code configured to determine the payment vehicles that meets the terms of the one or more payment rules based on the comparison of the terms of the one or more payment rules and the one or more transaction parameters;
- a computer readable program code configured to determine that a first merchant is not authorized to process at least one of the payment vehicles that meet the terms of the government regulations and determine that a second merchant applies polices that are unfavorable to the user;
- and
- a computer readable program code configured to provide on a display of a mobile device of the user a first recommendation that does not include that at least one payment vehicle that meet the terms of the government regulations and a second recommendation that comprises at least another payment vehicle that complies with the government consumer protection laws.
6 more elements
Dependencies are inferred from the claim text.