Fraud prevention systems and methods for a price comparison system

US10467645B2 · kind B2 · utility

Assignee

• Walmart Apollo, LLC · US

Inventors

• Joseph Wang · San Diego, US
• Venkata Syam Prakash Rapaka · Cupertino, US
• Vivek Parekh · Fremont, US
• Paul Kay Hatch · Bentonville, US
• Ronald G. Benson · Boulder, US
• Srirama M. Bolla · San Jose, US

Key dates

• Filing date: May 30, 2014
• Grant date: Nov 5, 2019
• Expiry date: May 30, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0234
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods are disclosed for evaluating a transaction concluded at a POS (point of sale) device. Prices for competitive retail stores within a geographic region of the POS may be evaluated after concluding a transaction. Price differences between items and corresponding prices in the third party data are identified. Where the purchase price exceeds the corresponding third-party price, a credit is assigned to the customer, such as in the form of a gift card or code that may be redeemed in a subsequent transaction. Credits may also be assigned to a debit card associated with a user, either with or without applying some multiplier. Transactions may be compared to past transaction of a user in order to detect fraud. Recent activity may be flagged as potentially fraudulent and reviewed before providing a credit.