Real-time issuer bidding to compete for use of electronic payment instrument by consumer
US10026117B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 28, 2011 |
| Grant date | Jul 17, 2018 |
| Priority date | — |
| Expiry date | Jul 11, 2036 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Issuers of electronic payment instruments can bid or submit competing offers to consumers in real-time during a transaction to influence consumers selecting their electronic payment instruments to complete a pending electronic transaction. Requests for bids, issuer responses with offers or proposed terms (e.g., annual percentage rate, miles, points, cash back, etc.), analysis of competing issuer offers, and selection of an electronic payment instrument based on the offer analysis occur in real-time such as while the consumer is at an electronic payment device of a merchant. An electronic payment instrument may be selected for the consumer, e.g., the instrument associated with an offer that confers the greatest benefit to the consumer compared to other offers, or the offer data can be presented to the consumer such as in the form of a ranking or list so that the consumer can select the electronic payment to be utilized to complete the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.