Method and system for performing transactions using aggregate payment media
US10956925B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 21, 2017 |
| Grant date | Mar 23, 2021 |
| Priority date | — |
| Expiry date | Mar 23, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for performing transactions using an aggregate payment medium involves obtaining payee data associated with a payee, obtaining transaction data associated with a transaction to be performed between a payer and the payee, and determining, for each payment medium, a benefit and a cost associated with using the payment medium for the transaction. The method further includes obtaining, for each of the payment media, a return from using the payment medium for the transaction, based on the benefit and the cost, selecting, from the payment media, a payment medium with a highest return, and providing, by the aggregate payment medium, payment medium data associated with the selected payment medium to the payee to enable execution of the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.