Tracking card usage using digital wallet

Patent metadata

Field	Value
Publication number	US-2016026999-A1
Application number	US-201414339144-A
Country	US
Kind code	A1
Filing date	Jul 23, 2014
Priority date	Jul 23, 2014
Publication date	Jan 28, 2016
Grant date	—

Abstract

Embodiments of the present invention are directed to systems, apparatuses, methods, and computer program products for tracking card usage when using a digital wallet. The present invention is configured to enable a user to execute a transaction via a payment vehicle (e.g., a digital bank card, a digital card number, or the like) associated with a digital wallet application. Upon execution of the transaction, the present invention receives information associated with the transaction from a plurality of sources, such as a financial institution, a merchant, a third party payment processing entity, a third party software application, or the like. The present invention then processes the received transaction information and exports the transaction information to a budgeting application, which may or may not be integrated with the digital wallet application.

First claim

What is claimed is:

1 . A mobile device for tracking payment credential usage using a digital wallet, the apparatus comprising:
a memory; a processor; and a digital wallet module stored in the memory, when executed by the processor, causes the processor to:
receive a request from a user to perform a transaction;
in response to the request, conduct the transaction using a payment credential associated with the digital wallet;
determine transaction information associated with the conducted transaction; and
export, from the digital wallet to a budgeting application, some or all of the determined transaction information.

2 . The mobile device of claim 1 , wherein the digital wallet module when executed further causes the processor to:
determine second transaction information associated with a second conducted transaction; and export, from the digital wallet to a budgeting application, some or all of the determined second transaction information.

3 . The mobile device of claim 1 , wherein the exported transaction information comprises a transaction amount associated with the conducted transaction.

4 . The mobile device of claim 1 , wherein the exported transaction information comprises a product category code indicating a category of a product purchased by the conducted transaction.

5 . The mobile device of claim 2 , wherein the digital wallet module when executed further causes the processor to:
determine the second transaction information from a second transaction conducted by the digital wallet using a second payment credential.

6 . The mobile device of claim 2 , wherein the digital wallet module when executed further causes the processor to:
determine the second transaction information from a second transaction conducted by the digital wallet using the payment credential.

7 . The mobile device of claim 2 , wherein the digital wallet module when executed further causes the processor to:
determine the second transaction information from a second transaction conducted by a second digital wallet using a second payment credential.

8 . The mobile device of claim 7 , wherein the digital wallet module when executed further causes the processor to:
receive authorization from the user for the digital wallet to be granted access to the second digital wallet for the purpose of determining transaction information from transactions conducted by the second digital wallet.

9 . The mobile device of claim 1 , wherein the digital wallet module when executed further causes the processor to:
receive authorization from the user for the digital wallet to be granted access to transaction information from transactions conducted using a second payment credential.

10 . The mobile device of claim 9 , wherein the second payment credential is associated with the digital wallet.

11 . The mobile device of claim 9 , wherein the second payment credential is associated with a second digital wallet.

12 . The mobile device of claim 1 , wherein the digital wallet module when executed further causes the processor to:
receive authorization from the user for the digital wallet to export transaction information from the digital wallet to the budgeting application.

13 . The mobile device of claim 1 , wherein the digital wallet module requires authentication of the request from the user to perform the transaction, wherein authentication comprises at least one of user authentication or confirmation of sufficient funds in an account associated with the payment credential.

14 . The mobile device of claim 1 , wherein transaction information is received by the digital wallet module from a plurality of sources, wherein the transaction information received from the plurality of sources comprises at least one of information inputted by the user, information received from a merchant, distributor, or vendor, information received from one or more financial institutions, or information received from a third party payment processing entity.

15 . The mobile device of claim 1 , wherein exporting some or all of the determined transaction information comprises generating a report comprising the determined transaction information.

16 . The mobile device of claim 1 , wherein the budgeting application is integrated with the digital wallet module.

17 . The mobile device of claim 1 , wherein the payment credential comprises at least one of a bank card, a credit card, a debit card, a travel card, a temporary card, or a token associated with a financial account.

18 . The mobile device of claim 1 , wherein the digital wallet module when executed further causes the processor to:
generate an image of a check, wherein the image of the check is generated using the determined transaction information; and enable the user to select and use the image of the check as a second payment credential for a second transaction.

19 . A method for reducing digital wallet exposure, whereby a processor determines a potential exposure of a payment credential in a digital wallet and initiates exposure reduction measures to reduce potential exposure to other payment credentials in the digital wallet, the method comprising:
receiving a request from a user to perform a transaction; in response to the request, conducting the transaction using a payment credential associated with the digital wallet; determining transaction information associated with the conducted transaction; and exporting, from the digital wallet to a budgeting application, some or all of the determined transaction information.

20 . A computer program product for reducing digital wallet exposure, whereby the computer program product determines a potential exposure of a payment credential in a digital wallet and initiates exposure reduction measures to reduce potential exposure to other payment credentials in the digital wallet, the computer program product comprising a non-transitory computer-readable medium comprising code causing a first apparatus to:
receive a request from a user to perform a transaction; in response to the request, conduct the transaction using a payment credential associated with the digital wallet; determine transaction information associated with the conducted transaction; and export, from the digital wallet to a budgeting application, some or all of the determined transaction information.

Assignees

• Bank Of America

Inventors

• Kurian Manu Jacob

Classifications

• G06Q20/40

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title

• G06Q20/36 Primary

  using electronic wallets or electronic money safes · CPC title

• G06Q40/00 Primary

  Finance; Insurance; Tax strategies; Processing of corporate or income taxes · CPC title

• G06Q20/363

  with the personal data of a user · CPC title

• G06Q20/322

  Aspects of commerce using mobile devices [M-devices] · CPC title