Systems and methods for analyzing consumer spending using geofencing
US11080724B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 7, 2017 |
| Grant date | Aug 3, 2021 |
| Priority date | — |
| Expiry date | May 20, 2038 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04W12/64
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A geofence computing device, in communication with a user device and a payment processor, includes a memory and a processor in communication with the memory. The geofence computing device processor is configured to receive, from the user device, geofence data including a first user defined geofence zone having a first geographic area within a first geographic boundary, store the geofence data within the memory, receive, from the payment processor, from authorization request message transaction data representing a payment transaction initiated with a merchant by a cardholder associated with the payment processor, determine a geographic location of the merchant and a residence of the cardholder, compare the merchant geographic location and the cardholder residence geographic location to the first user defined geofence zone, and alert the user of the payment transaction based on the comparison. The transaction data includes at least one of a merchant location and a merchant identifier.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.