Selecting a preferred payment instrument based on a merchant category
US10185954B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 16, 2016 |
| Grant date | Jan 22, 2019 |
| Priority date | — |
| Expiry date | Feb 17, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0635
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The invention provides a computer-implemented method to select a preferred card for a purchase based on a merchant category. In the exemplary method, the computer associates a plurality of financial accounts with an account of a user; associates a merchant category with a financial account associated with the user account; and receives data from a transaction. The computer can maintain a database of merchant categories; determine the category of the merchant based on the data associated with the transaction; and extract data to identify the merchant, such as merchant name, address, or telephone number. The computer can determine the geo-location of the user device and determine the merchant identify from the location. The computer can determine a merchant category of the merchant from the merchant identity; select the financial account associated with the merchant category of the merchant; and communicate the financial account selected to conduct the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.