Intelligent payment format and attribute package transaction processing

Patent metadata

Field	Value
Publication number	US-10891647-B2
Application number	US-201615047828-A
Country	US
Kind code	B2
Filing date	Feb 19, 2016
Priority date	Oct 27, 2015
Publication date	Jan 12, 2021
Grant date	Jan 12, 2021

Abstract

Methods, non-transitory computer readable media, and transaction management computing devices that assist with processing a transaction involving a merchant and a user using a system include receiving over at least one communication channel an indication of a user transaction. Location information indicating a location of the user transaction or merchant information indicating a merchant involved in the user transaction is determined. A first attribute package and a first payment format is identified and communicated to the client device. The user transaction is initiated upon receiving a confirmation indicating selection of the identified first payment format and the identified first attribute package. The user transaction is held open for a predetermined period of time to allow the user to modify the selected first payment format or the selected first attribute package for the user transaction to a different attribute package or a different payment format.

First claim

What is claimed is:

1. A method for processing a transaction involving a merchant and a user using a system, the method comprising:
receiving, by a transaction management computing device, over at least one communication channel, an indication of a user transaction;
determining, by the transaction management computing device, location information indicating a location of the user transaction or merchant information indicating a merchant involved in the user transaction;
identifying, by the transaction management computing device, a first attribute package and a second attribute package different from the first attribute package of a plurality of attribute packages and a first payment format and a second payment format different from the first payment format of a plurality of payment formats, based on at least one or more customized rules associated with the user and the determined location information or the determined merchant information;
automatically displaying on an interface of a client device, in response to the identifying, a selectable first icon that represents the first attribute package, a selectable second icon that represents the second attribute package, a selectable third icon that represents the first payment format, and a selectable fourth icon that represents the second payment format;
communicating, by the transaction management computing device, an instruction to the client device to identify the selected first attribute package and the first payment format as a recommendation to the user;
initiating, by the transaction management computing device, the user transaction upon receiving a confirmation indicating selection of the identified first payment format and the identified first attribute package; and
holding, by the transaction management computing device, the user transaction open for a predetermined period of time to allow the user to modify the selected first payment format to the second payment format or the selected first attribute package to the second attribute package for the user transaction,
wherein the first and second attribute packages are connected with a selected payment card of the user based on the one or more customized rules associated with the user,
wherein the one or more customized rules comprise rules set by the transaction management computing device and one or more rules set by user based on user preferences for the selected payment card, and
wherein the transaction management computing device ranks the customized rules based on user preferences, determines weights to assign to the rules based on the rankings, and applies a weighted combination of the rules to identify the attribute package for the transaction and selects the identified attribute package for the selected payment card.

2. The method of claim 1 , wherein the location information is received from one or more of:
an application running on the client device, one or more short-range radio frequency devices proximate to the client device, or one or more audio devices proximate to the client device.

3. The method of claim 1 , further comprising:
receiving, by the transaction management computing device, a request to use a payment feature; and
processing, by the transaction management computing device, the received request to use the payment feature.

4. The method of claim 3 , wherein the payment feature is a cash-back feature, and wherein the method further comprises:
receiving, by the transaction management computing device, a cash-back amount;
communicating, by the transaction management computing device, the user transaction with a transaction amount including the cash-back amount; and
initiating, by the transaction management computing device, the user transaction with a transaction amount including the cash-back amount.

5. The method of claim 3 , wherein the payment feature is transactional tips, and wherein the method further comprises:
receiving, by the transaction management computing device, a tip amount; and
initiating, by the transaction management computing device, the user transaction for a transaction amount including the tip amount.

6. The method of claim 3 , wherein the payment feature is merchant rewards, and wherein the method further comprises:
receiving, by the transaction management computing device, a merchant reward identification;
identifying, by the transaction management computing device, a user;
identifying, by the transaction management computing device, a merchant reward account associated with the user; and
transmitting, by the transaction management computing device, to at least one of a merchant or point-of-sale system the merchant reward account associated with the user.

7. The method of claim 6 , further comprising:
retrieving, by the transaction management computing device, the merchant reward account associated with the user from a system associated with the merchant; and
storing, by the transaction management computing device, the merchant reward account identified at a database of the system.

8. The method of claim 1 , further comprising closing, by the transaction management computing device, the user transaction after the predetermined period of time has expired, wherein the user transaction is processed using the identified first attribute package.

9. The method of claim 1 , further comprising sending, by the transaction management computing device, the identification of the first payment format and the first attribute package, wherein the identification causes the interface of the client device to display a prompt to the user, the prompt comprising a request for confirmation of the identified first attribute package and the identified first payment format or selection of the second attribute package or the second payment format.

10. The method of claim 1 , further comprising:
receiving, by the transaction management computing device, a selection of the second payment format or the second attribute package, the selection being inputted by the user at the client device during the predetermined period of time;
modifying, by the transaction management computing device, a database based on the selection, wherein the modification of the database causes at least one of the following:
executing, by the transaction management computing device, the first attribute package selection code module in a subsequent transaction results in the selection of the second attribute package; or
executing, by the transaction management computing device, the first payment format code module in a subsequent transaction involving the user results in the selection of the second payment format.

11. A non-transitory computer readable medium having stored thereon instructions for processing a transaction involving a merchant and a user using a system comprising machine executable code which when executed by at least one processor, causes the processor to perform:
receive over at least one communication channel, an indication of a user transaction;
determine location information indicating a location of the user transaction or merchant information indicating a merchant involved in the user transaction;
identify a first attribute package and a second attribute package different from the first attribute package of a plurality of attribute packages and a first payment format and a second payment format different from the first payment format of a plurality of payment formats, based on at least one or more customized rules associated with the user and the determined location information or the determined merchant information;
automatically display on an interface of a client device, in response to the identify, a selectable first icon that represe

Assignees

• Jpmorgan Chase Bank Na

Inventors

• Gantert Brian S
• Arnone Joseph

Classifications

• G06Q20/405

  Establishing or using transaction specific rules · CPC title

• G06Q20/10

  specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems · CPC title

• G06Q30/0226 Primary

  Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems · CPC title

• G06Q20/204

  comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit · CPC title

• G06Q20/3224

  Transactions dependent on location of M-devices · CPC title