Selecting a preferred payment instrument based on a merchant category

• US 10,185,954 B2
• Filed: 03/16/2016
• Issued: 01/22/2019
• Est. Priority Date: 07/05/2012
• Status: Active Grant

• Current Assignee: Google LLC (Alphabet Inc.)
• Original Assignee: Google LLC (Alphabet Inc.)
• Inventors: Mizhen, Boris, Curtis, Kendra Shannon
• Primary Examiner(s): Allen, William J
• Application Number:
  US15/072,191
• Publication Number:
  US 20160196549A1
• Time in Patent Office: 1,042 Days
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders

Abstract

The invention provides a computer-implemented method to select a preferred card for a purchase based on a merchant category. In the exemplary method, the computer associates a plurality of financial accounts with an account of a user; associates a merchant category with a financial account associated with the user account; and receives data from a transaction. The computer can maintain a database of merchant categories; determine the category of the merchant based on the data associated with the transaction; and extract data to identify the merchant, such as merchant name, address, or telephone number. The computer can determine the geo-location of the user device and determine the merchant identify from the location. The computer can determine a merchant category of the merchant from the merchant identity; select the financial account associated with the merchant category of the merchant; and communicate the financial account selected to conduct the transaction.

Claims

1. A computer-implemented method to determine a merchant category for a merchant and to select a payment instrument for a purchase based on the merchant category, comprising:

associating, by a computer, a plurality of financial accounts with a user account of a user, the user account being maintained by the computer;

for one or more of the financial accounts associated with the user account, associating, by the computer, one of a plurality of merchant categories with the respective financial account;

receiving, by the computer from a user computing device, data from a transaction of the user account with a merchant, the transaction being initiated with a communication between a point of sale terminal associated with the merchant and a payment application on the user computing device;

determining, by the computer, a merchant category of the merchant by;

identifying, by the computer, one or more products associated with the transaction based on an identification number associated with each of the one or more products in the transaction data;

comparing, by the computer, the associated products with products associated with other merchants in a category database, the category database being stored on a data storage unit associated with the computer and accessed by the computer; and

determining, by the computer, that the merchant is associated with the merchant category based on a similarity of the products associated with the merchant and the products associated with the other merchants associated with the merchant category in the category database;

selecting, by the computer, a particular financial account of the financial accounts associated with the merchant category of the merchant with which to conduct the transaction;

communicating, by the computer to the user computing device, the selected particular financial account;

communicating, by the computer to the user computing device, instructions configured to cause the payment application to initiate and cause the selected particular financial account to display via the payment application on the user computing device; and

communicating, by the computer to the user computing device, instructions to cause the user computing device to transmit data associated with the selected particular financial account to the point of sale terminal associated with the merchant to conduct the transaction.

2. The computer-implemented method of claim 1, wherein determining the category of the merchant comprises identifying, by the computer, one of more of the following features of the merchant from the data:

a merchant name;

a merchant address;

a merchant telephone number; and

a merchant store number.

3. The computer-implemented method of claim 1, wherein the transaction data comprises location data identifying a location of the user computing device, and wherein determining the category of the merchant based on location data comprises:

extracting, by the computer, the location data identifying the location of the user computing device; and

determining, by the computer, the identity of the merchant associated with the location of the user computing device.

4. The computer-implemented method of claim 1, wherein the category database comprises merchant names, merchant addresses, merchant phone numbers, merchant product offerings, merchant category codes, and merchant geo-locations.

5. A computer program product, comprising:

a non-transitory computer-readable storage device having computer-executable program instructions embodied thereon that when executed by a computer cause the computer to select a payment instrument for a purchase based on a merchant category, the computer-executable program instructions comprising;

computer-executable program instructions to associate a plurality of financial accounts with a user account of a user, the user account being maintained by the computer;

computer-executable program instructions to associate, for one or more of the financial accounts associated with the user account, one of a plurality of merchant categories with the respective financial account in a category database;

computer-executable program instructions to receive, from a user computing device, data from a transaction of the user account with a merchant;

computer-executable program instructions to determine a merchant category of the merchant by;

receiving data from a plurality of accounts of other users;

determining financial accounts of the accounts of other users that are in common with the user account;

determining merchant categories associated with the common financial accounts of the user account and the other user accounts; and

selecting a particular merchant category that is associated with the greatest number of the financial accounts of the accounts of other users that are in common with the user account;

computer-executable program instructions to select one of the financial accounts associated with the selected merchant category of the merchant with which to conduct the transaction;

computer-executable program instructions to communicate the selected financial account to the user computing device to conduct the transaction;

computer-executable program instructions to communicate program instructions to the user computing device configured to cause the payment application to initiate and cause the selected financial account to display via the payment application on the user computing device; and

computer-executable program instructions to communicate, to the user computing device, instructions configured to cause the user computing device to transmit data associated with the selected financial account to the point of sale terminal associated with the merchant.

6. The computer program product of claim 5, wherein determining the category of the merchant comprises identifying, by the computer, one of more of the following features of the merchant from the data:

a merchant name;

a merchant address;

a merchant telephone number; and

a merchant store number.

7. The computer program product of claim 5, wherein the transaction data comprises identification data identifying a merchant, and wherein determining the category of the merchant from the transaction data comprises:

extracting an identification of the merchant from the data from the transaction;

locating the identified merchant in the category database; and

determining the category associated with the merchant in the database.

8. The computer program product of claim 5, wherein the category database comprises merchant names, merchant addresses, merchant phone numbers, merchant product offerings, merchant category codes, and merchant geo-locations.

9. A system to select a payment instrument for a purchase based on a merchant category, comprising:

a storage resource;

a network module;

a processor communicatively coupled to the storage resource and the network module, wherein the processor executes application code instructions that are stored in the storage resource to cause the system to;

associate a plurality of financial accounts with a user account of a user, the user account being maintained by the computer;

associate, for one or more of the financial accounts associated with the user account, one of a plurality of merchant categories with the respective financial account in a category database;

receive, from a user computing device, data from a transaction of the user account with a merchant;

determine a merchant category of the merchant by;

identifying one or more products associated with the transaction;

comparing the associated products with a list of products associated with other merchants in the category database; and

determining that the merchant is associated with a category of merchants based on a similarity of the products associated with the merchant and the products associated with the merchants associated with the category;

select one of the financial accounts associated with the determined merchant category of the merchant with which to conduct the transaction;

communicate instructions configured to cause the user computing device to initiate a payment application and to display the selected financial account via the payment application on the user computing device; and

communicate, to the user computing device, instructions configured to cause the user computing device to transmit data associated with the selected financial account to a point of sale terminal associated with the merchant;

a user computing device storage resource;

a user computing device network module; and

a user computing device processor communicatively coupled to the user computing device storage resource and the user computing device network module, wherein the processor executes application code instructions that are stored in the user computing device storage resource to cause the system to;

initiate the payment application and display the selected financial account via the payment application based on the received instructions; and

transmit data associated with the selected financial account to the point of sale terminal associated with the merchant based on the received instructions.

10. The system of claim 9, wherein determining the category of the merchant comprises identifying, by the computer, one of more of the following features of the merchant from the data:

a merchant name;

a merchant address;

a merchant telephone number; and

a merchant store number.

11. The system of claim 9, wherein the transaction data comprises location data identifying a location of the user computing device, and wherein determining the category of the merchant from the transaction data comprises instructions further causing the system to:

extract the location data identifying the location of the user computing device;

determine the identity of the merchant associated with the location of the user computing device;

locate the identified merchant in the category database; and

determine the category associated with the merchant in the database.

12. The system of claim 9, wherein the transaction data comprises identification data identifying a merchant, and wherein determining the category of the merchant from the transaction data comprises:

extracting an identification of the merchant from the data from the transaction;

locating the identified merchant in the category database; and

determining the category associated with the merchant in the database.

13. The system of claim 9, wherein the category database comprises merchant names, merchant addresses, merchant phone numbers, merchant product offerings, merchant category codes, and merchant geo-locations.