Post-purchase credit offer and tender switch

Patent metadata

Field	Value
Publication number	US-12229743-B2
Application number	US-202318397335-A
Country	US
Kind code	B2
Filing date	Dec 27, 2023
Priority date	Jul 8, 2019
Publication date	Feb 18, 2025
Grant date	Feb 18, 2025

Abstract

Disclosed embodiments may provide a framework to implement post-purchase tender switches. For example, following a transaction made with a particular payment instrument, a customer may be offered the ability to apply for a preferred payment instrument and/or to switch his or her tender type to the preferred payment instrument for the previous transaction.

First claim

What is claimed:

1. A computer-implemented method comprising:
determining a completion of a transaction at a point-of-sale system, wherein the completed transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided, wherein the completed transaction specifies a selected payment instrument associated with a customer, wherein the completed transaction is associated with an amount that was used for completing the transaction, and wherein the amount is less than a first authorized line of credit associated with the selected payment instrument;
using a trained machine learning algorithm to switch the completed transaction from the selected payment instrument to a preferred payment instrument while the completed transaction is held as the pending transaction, wherein the machine learning algorithm is trained using a training dataset including historical transaction data associated with other customers;
identifying a second authorized line of credit for the preferred payment instrument;
determining that the amount associated with the transaction is greater than the second authorized line of credit;
transmitting an offer that includes splitting the amount into a first sub-amount that will remain under the selected payment instrument and a second sub-amount that will switch to the preferred payment instrument, wherein the second sub-amount is less than the second authorized line of credit;
detecting acceptance of the offer;
switching the second sub-amount to the preferred payment instrument, wherein the first sub-amount remains under the selected payment instrument;
authorizing the fulfillment of the completed transaction; and
determining that the completed transaction is no longer being held as the pending transaction, wherein the trained machine learning algorithm is further trained based on the completed transaction and the acceptance of the offer.

2. The computer-implemented method of claim 1 , wherein the completed transaction further specifies contact data associated with the customer, and wherein the offer is transmitted according to the contact data.

3. The computer-implemented method of claim 1 , wherein the completed transaction further specifies contact data associated with the customer, and wherein the contact data accessed from the point-of-sale system.

4. The computer-implemented method of claim 1 , wherein the offer specifies one or more incentives for switching the completed transaction from the selected payment instrument to the preferred payment instrument.

5. The computer-implemented method of claim 1 , wherein the offer is generated subject to an expiration, and wherein the offer is rescinded as a result of the expiration.

6. The computer-implemented method of claim 1 , wherein the offer is transmitted through a Short Message Service (SMS) message.

7. The computer-implemented method of claim 1 , wherein the offer is transmitted through a website, and wherein the website is independent of the point-of-sale system.

8. A system comprising:
one or more processors; and
memory storing thereon instructions that, as a result of being executed by the one or more processors, cause the system to perform operations comprising:
determining a completion of a transaction at a point-of-sale system, wherein the completed transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided, wherein the completed transaction specifies a selected payment instrument associated with a customer, wherein the completed transaction is associated with an amount that was used for completing the transaction, and wherein the amount is less than a first authorized line of credit associated with the selected payment instrument;
using a trained machine learning algorithm to switch the completed transaction from the selected payment instrument to a preferred payment instrument while the completed transaction is held as the pending transaction, wherein the machine learning algorithm is trained using a training dataset including historical transaction data associated with other customers;
identifying a second authorized line of credit for the preferred payment instrument;
determining that the amount associated with the transaction is greater than the second authorized line of credit;
transmitting an offer that includes splitting the amount into a first sub-amount that will remain under the selected payment instrument and a second sub-amount that will switch to the preferred payment instrument, wherein the second sub-amount is less than the second authorized line of credit;
detecting acceptance of the offer;
switching the second sub-amount to the preferred payment instrument, wherein the first sub-amount remains under the selected payment instrument;
authorizing the fulfillment of the completed transaction; and
determining that the completed transaction is no longer being held as the pending transaction, wherein the trained machine learning algorithm is further trained based on the completed transaction and the acceptance of the offer.

9. The system of claim 8 , wherein the completed transaction further specifies contact data associated with the customer, and wherein the offer is transmitted according to the contact data.

10. The system of claim 8 , wherein the completed transaction further specifies contact data associated with the customer, and wherein the contact data accessed from the point-of-sale system.

11. The system of claim 8 , wherein the offer specifies one or more incentives for switching the completed transaction from the selected payment instrument to the preferred payment instrument.

12. The system of claim 8 , wherein the offer is generated subject to an expiration, and wherein the offer is rescinded as a result of the expiration.

13. The system of claim 8 , wherein the offer is transmitted through a Short Message Service (SMS) message.

14. The system of claim 8 , wherein the offer is transmitted through a website, and wherein the website is independent of the point-of-sale system.

15. A non-transitory, computer-readable storage medium storing thereon executable instructions that, as a result of being executed by one or more processors of a computer system, cause the computer system to perform operations comprising:
determining a completion of a transaction at a point-of-sale system, wherein the completed transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided, wherein the completed transaction specifies a selected payment instrument associated with a customer, wherein the completed transaction is associated with an amount that was used for completing the transaction, and wherein the amount is less than a first authorized line of credit associated with the selected payment instrument;
using a trained machine learning algorithm to switch the completed transaction from the selected payment instrument to a preferred payment instrument while the completed transaction is held as the pending transaction, wherein the machine learning algorithm is trained using a training dataset including historical transaction data associated with other customers;
identifying a second authorized line of credit for the preferred payment instrument;
determining that the amount associated with the transaction is greater than the second authorized line of credit;
transmitting an offer that includes splitting the amount into a first sub-amount that will remain under the selected payment instrument and a second sub-amount that will switch to the preferred payment instrument, wherein the s

Assignees

• Synchrony Bank

Inventors

• Storiale Michael
• Hammond Lisa
• Kievit William
• Terry Tiffanie
• Hudson Carter
• Miller Jake

Classifications

• G06Q40/03

  Credit; Loans; Processing thereof · CPC title

• G06Q30/0235

  constrained by time limit or expiration date · CPC title

• G06Q20/4037

  Remote solvency checks · CPC title

• G06Q30/0207

  Discounts or incentives, e.g. coupons or rebates · CPC title

• G06Q20/34

  using cards, e.g. integrated circuit [IC] cards or magnetic cards · CPC title