Methods, systems and computer readable media for utilizing payment card transaction data to conduct product price comparisons

• US 10,102,537 B2
• Filed: 08/25/2014
• Issued: 10/16/2018
• Est. Priority Date: 08/25/2014
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Pitz, Cindi, Vaidya, Roopa A.
• Primary Examiner(s): Stanford, Christopher
• Application Number:
  US14/467,790
• Publication Number:
  US 20160055502A1
• Time in Patent Office: 1,513 Days
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors

Abstract

Methods, systems, and computer readable media for utilizing payment card transaction data to conduct product price comparisons are disclosed. In one example, the method includes receiving product selection information associated with a designated product from a user selection device and receiving geographic location information associated with the user selection device. The method also utilizing the product selection information and the geographic location information to identify merchant entities that have conducted sales transactions of the designated product within an area specified by the geographic location information and providing, to the user selection device, merchant comparison data that includes the identified merchant entities and the sales transaction prices of the designated product.

Claims

1. A method for utilizing payment card transaction data to conduct product price comparisons, the method comprising:

extracting, by a transaction network gateway, payment card transaction data from payment authorization request messages sent by identified merchant entities to issuer entities of payment cards used to conduct sales transactions;

storing, by the transaction network gateway, the extracted payment card transaction data in a payment card transaction data repository server;

receiving, by a processing server, product selection information associated with a designated product from a user selection device;

receiving, by the processing server, geographic location information associated with the user selection device;

utilizing, by the processing server, the product selection information, a specified time period designated via the user selection device, and the geographic location information to query the payment card transaction data repository server hosted by a payment card system to obtain the payment card transaction data that is stored in the payment card transaction data repository server and that identifies merchant entities that have conducted sales transactions of the designated product within an area specified by the geographic location information and during the specified time period, wherein the payment card transaction data indicates the sales transactions conducted between the merchant entities and payment card users of the payment card system and includes purchase price data of the designated product; and

providing, to the user selection device by the processing server, merchant comparison data that is generated by the processing server using the payment card transaction data and includes the identified merchant entities and prices of the sales transactions of the designated product sold by the identified merchant entities during the specified time period.

2. The method of claim 1 wherein receiving product selection information includes receiving either a universal product code (UPC) identifier or a product description input of the designated product from the user selection device.

3. The method of claim 1 wherein receiving geographic location information includes receiving global positioning system (GPS) information from the user selection device or receiving input specifying an area identifier from the user selection device.

4. The method of claim 1 comprising sending, to the user selection device, travel directions to a selected one of the identified merchant entities from a current location of the user selection device.

5. The method of claim 1 wherein the merchant comparison data includes, for each of the identified merchant entities, at least one of a merchant name, a merchant store address, a merchant phone number, a merchant email address, a merchant website address, and a sales transaction price corresponding to the designated product.

6. The method of claim 1 comprising utilizing the product selection information to query a transaction data repository to obtain merchant identifiers corresponding to the merchant entities.

7. The method of claim 6 wherein utilizing the product selection information further comprises using the product selection information to query a local UPC data repository to obtain payment card transaction identifiers that are used to obtain the merchant identifiers in the transaction data repository.

8. The method of claim 6 comprising using the merchant identifiers to query a merchant entity database to obtain corresponding merchant location information for each of the merchant entities.

9. The method of claim 8 wherein a merchant entity is included in the merchant comparison data if the merchant location information associated with the merchant entity comports with the received geographic location information.

10. A system for utilizing payment card transaction data to conduct product price comparisons, the system comprising:

a merchant data repository configured to store information associated with a plurality of merchant entities;

a payment card transaction data repository server configured to store payment card transaction data;

a transaction network gateway configured to extract payment card transaction data from payment authorization request messages sent by identified merchant entities to issuer entities of payment cards used to conduct sales transactions and to store the extracted payment card transaction data in the payment card transaction data repository server; and

a processing server configured to;

receive product selection information associated with a designated product from a user selection device;

receive geographic location information associated with the user selection device;

utilize the product selection information, a specified time period designated via the user selection device, and the geographic location information to query the payment card transaction data repository server hosted by a payment card system to obtain the payment card transaction data that is stored in the payment card transaction data repository server and that identifies merchant entities that have conducted sales transactions of the designated product within an area specified by the geographic location information and during the specified time period, wherein the payment card transaction data indicates the sales transactions conducted between the merchant entities and payment card users of the payment card system and includes purchase price data of the designated product; and

provide merchant comparison data that is generated by the processing server using the payment card transaction data and includes the identified merchant entities and prices of the sales transactions of the designated product sold by the identified merchant entities during the specified time period to the user selection device.

11. The system of claim 10 wherein the processing server is further configured to receive either a universal product code (UPC) identifier or a product description input of the designated product from the user selection device.

12. The system of claim 10 wherein the processing server is further configured to receive global positioning system (GPS) information from the user selection device or receiving input specifying an area identifier from the user selection device.

13. The system of claim 10 wherein the processing server is further configured to send, to the user selection device, travel directions to a selected one of the identified merchant entities from a current location of the user selection device.

14. The system of claim 10 wherein the merchant comparison data includes, for each of the identified merchant entities, at least one of a merchant name, a merchant store address, a merchant phone number, a merchant email address, a merchant website address, and a sales transaction price corresponding to the designated product.

15. The system of claim 10 wherein the processing server is further configured to utilize the product selection information to query a transaction data repository to obtain merchant identifiers corresponding to the merchant entities.

16. The system of claim 15 wherein the processing server is further configured to use the product selection information to query a local UPC data repository to obtain payment card transaction identifiers that are used to obtain the merchant identifiers in the transaction data repository.

17. The system of claim 15 wherein the processing server is further configured to use the merchant identifiers to query a merchant entity database to obtain corresponding merchant location information for each of the merchant entities.

18. The system of claim 17 wherein a merchant entity is included in the merchant comparison data if the merchant location information associated with the merchant entity comports with the received geographic location information.

19. A non-transitory computer readable medium having stored thereon executable instructions which, when executed by a processor of a computer, cause the computer to perform steps comprising:

extracting, by a transaction network gateway, payment card transaction data from payment authorization request messages sent by identified merchant entities to issuer entities of payment cards used to conduct sales transactions;

storing, by the transaction network gateway, the extracted payment card transaction data in a payment card transaction data repository server;

receiving, by a processing server, product selection information associated with a designated product from a user selection device;

receiving, by the processing server, geographic location information associated with the user selection device;

utilizing, by the processing server, the product selection information, a specified time period designated via the user selection device, and the geographic location information to query the payment card transaction data repository server hosted by a payment card system to obtain the payment card transaction data that is stored in the payment card transaction data repository server and that identifies merchant entities that have conducted sales transactions of the designated product within an area specified by the geographic location information and during the specified time period, wherein the payment card transaction data indicates the sales transactions conducted between the merchant entities and payment card users of the payment card system and includes purchase price data of the designated product; and

providing, to the user selection device by the processing server, merchant comparison data that is generated by the processing server using the payment card transaction data and includes the identified merchant entities and prices of the sales transactions of the designated product sold by the identified merchant entities during the specified time period.

20. The computer readable medium of claim 19 comprising sending, to the user selection device, travel directions to a selected one of the identified merchant entities from a current location of the user selection device.