System and method for setting a hot product alert on transaction data
First Claim
1. A method for using an automated transaction rule comprising at least one threshold quantity criterion to monitor transaction data to alert a user when a selected predetermined number of a specific product or type of product has been sold within a selected time frame, the method performed by a processor executing operations, in accordance with instructions embodied in a memory, the method comprising:
- receiving raw transaction data from a transaction concentrator of a payment card system that is communicatively connected to a plurality of point of sale devices for the payment card system and is configured to generate the raw transaction data, the raw transaction data including a plurality of product identifiers for a specific product or type of product sold during the payment card transaction, a time of sale, and confidential payment cardholder information;
storing the raw transaction data in a transaction database of the payment card system, wherein the transaction database is not accessible via a website over the Internet;
filtering out personal cardholder information from the raw transaction data to yield filtered information;
storing the filtered information in a web accessible filtered transaction database, wherein the filtered information is directly accessible via a website over the Internet;
providing the website interface for a user device, wherein the website interface is configured to allow a user device to generate and submit the automated transaction rule with predefined criteria,receiving from the user device, via the website, the automated transaction rule configured to define a product sales volume alert, wherein the transaction rule comprises at least one product identifier of the plurality of product identifiers, a time frame, and a threshold quantity of units of product associated with the at least one product identifier for the at least one threshold quantity criterion;
programming the processor with the automated transaction rule;
scanning the filtered transaction database a first time for transactions that meet the automated transaction rule during the time frame, to determine from the filtered transaction data, an actual quantity of units of product sold that satisfy the transaction rule;
comparing the actual quantity to the threshold quantity;
generating an alert when the actual quantity exceeds the threshold quantity; and
transmitting the alert to the user device,wherein the processor is configured to generate at least one second alert when a quantity of units of product sold does not meet the at least one threshold quantity criterion within a predefined time period after the automated transaction rule is received,wherein the at least one threshold quantity criterion for the second alert includes a criterion selected from;
the threshold quantity for the automated transaction rule generated by the user device; and
a threshold quantity generated by the system.
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Accused Products
Abstract
A system and a method for determining when a predetermined number of a specific product or of a type of product has been sold so that an alert can be generated when the number sold exceeds the predetermined number. Transaction rules can be set to monitor transaction data in a database to achieve this result. The transaction rules can be set for a generic product, for a specific product, or to exclude certain products. The system and the method issue an additional alert when data in a database indicates that the number of a specific product or of a type of product being sold in a selected time frame is below the selected predetermined number or another selected predetermined, for a selected period of time.
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Citations
21 Claims
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1. A method for using an automated transaction rule comprising at least one threshold quantity criterion to monitor transaction data to alert a user when a selected predetermined number of a specific product or type of product has been sold within a selected time frame, the method performed by a processor executing operations, in accordance with instructions embodied in a memory, the method comprising:
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receiving raw transaction data from a transaction concentrator of a payment card system that is communicatively connected to a plurality of point of sale devices for the payment card system and is configured to generate the raw transaction data, the raw transaction data including a plurality of product identifiers for a specific product or type of product sold during the payment card transaction, a time of sale, and confidential payment cardholder information; storing the raw transaction data in a transaction database of the payment card system, wherein the transaction database is not accessible via a website over the Internet; filtering out personal cardholder information from the raw transaction data to yield filtered information; storing the filtered information in a web accessible filtered transaction database, wherein the filtered information is directly accessible via a website over the Internet; providing the website interface for a user device, wherein the website interface is configured to allow a user device to generate and submit the automated transaction rule with predefined criteria, receiving from the user device, via the website, the automated transaction rule configured to define a product sales volume alert, wherein the transaction rule comprises at least one product identifier of the plurality of product identifiers, a time frame, and a threshold quantity of units of product associated with the at least one product identifier for the at least one threshold quantity criterion; programming the processor with the automated transaction rule; scanning the filtered transaction database a first time for transactions that meet the automated transaction rule during the time frame, to determine from the filtered transaction data, an actual quantity of units of product sold that satisfy the transaction rule; comparing the actual quantity to the threshold quantity; generating an alert when the actual quantity exceeds the threshold quantity; and transmitting the alert to the user device, wherein the processor is configured to generate at least one second alert when a quantity of units of product sold does not meet the at least one threshold quantity criterion within a predefined time period after the automated transaction rule is received, wherein the at least one threshold quantity criterion for the second alert includes a criterion selected from; the threshold quantity for the automated transaction rule generated by the user device; and a threshold quantity generated by the system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A system including automated transaction rules comprising at least one threshold quantity criterion configured to monitor transaction data to alert a user when a selected predetermined number of a specific product or type of product has been sold within a selected time frame, the system comprising:
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a plurality of point of sale devices for a payment card system, wherein each point of sale device is configured to obtain raw transaction data from a payment card transaction, the raw transaction data including a plurality of product identifiers for a specific product or type of product sold during the payment card transaction, a time of sale, and confidential payment cardholder information; a transaction concentrator of the payment card system communicatively connected to each point of sale device and receiving the raw transaction data therefrom; a transaction database; a web-accessible filtered transaction database, wherein the filtered information is directly accessible via a website over the Internet; and a processor and a memory with instructions that are readable by the processor and cause the processor to; store the raw transaction data in a transaction database; filter out personal cardholder information from the raw transaction data to yield filtered information; store the filtered information in the filtered transaction database; receive a transaction rule from a user device, wherein the transaction rule comprises at least one product identifier of the plurality of product identifiers and a time frame, to define a sales volume; receive, from the user device, a criterion for a threshold quantity of units of product associated with the at least one product identifier; scan the filtered transaction data a first time for transactions that meet the automated transaction rule during the time frame, to determine from the filtered transaction data, an actual quantity of units of product sold that satisfy the transaction rule; compare the actual quantity to the threshold quantity; generate an alert when the actual quantity exceeds the threshold quantity; and transmit the alert to the user device, wherein the system is configured to generate a second alert when a quantity of units of product sold does not meet the threshold quantity of products sold within a predefined time period after the first time period, wherein the at least one threshold quantity criterion for the second alert includes a criterion selected from; the threshold quantity for the automated transaction rule generated by the user device; and a threshold quantity generated by the system. - View Dependent Claims (14, 15, 16, 17, 18, 19, 21)
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20. A non-transitory storage medium comprising instructions for using automated transaction rules to monitor transaction data to alert a user when a selected predetermined number of a specific product or type of product has been sold within a selected time frame, the instructions readable by a processor and cause the processor to:
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receive raw transaction data from a transaction concentrator of a payment card system that is communicatively connected to a plurality of point of sale devices for the payment card system, the raw transaction data including a plurality of product identifiers for a specific product or type of product sold during the payment card transaction, a time of sale, and confidential payment cardholder information; store the raw transaction data in a transaction database of the payment card system, wherein the transaction database is not accessible via a website over the Internet; filter out personal cardholder information from the raw transaction data to yield filtered information; store the filtered information in a web accessible filtered transaction database, wherein the filtered information is directly accessible via a website over the Internet; deleting, from the filtered transaction database, filtered transaction data for that is no longer current based on a predefined time after a time of sale of the product; receive, via the website, a transaction rule from a user device, wherein the transaction rule comprises at least one product identifier of the plurality of product identifiers and a time frame, to define a sales volume; receive, from the user device, a criterion for a threshold quantity of units of product associated with the at least one product identifier; scan the filtered transaction data a first time for transactions that meet the transaction rule during the time frame, to determine from the filtered transaction data, an actual quantity of units of product sold that satisfy the transaction rule; compare the actual quantity to the threshold quantity; generate an alert when the actual quantity exceeds the threshold quantity, wherein the alert is at least one alert selected from the group consisting of; a short message service (SMS) message, an e-mail, a text message, and a voice mail; and transmit the alert to the user device, wherein the processor is configured to generate a second alert when a quantity of units of product sold does not meet the threshold quantity of products sold within a predefined time period after the time frame.
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Specification