Determining pricing information from merchant data

• US 10,339,548 B1
• Filed: 05/28/2014
• Issued: 07/02/2019
• Est. Priority Date: 03/24/2014
• Status: Active Grant

• Current Assignee: Block, Inc. (f/k/a Square, Inc.)
• Original Assignee: Block, Inc. (f/k/a Square, Inc.)
• Inventors: Kumar, Abhay, Yan, Rong, Ng, Mason, Perrone, Gian, Leduc, Mai
• Primary Examiner(s): Gills, Kurtis
• Application Number:
  US14/289,467
• Time in Patent Office: 1,861 Days
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0253 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0264 based upon schedule
• CPC Class Codes: G06Q 30/0268 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/0631 Item recommendations

Abstract

A service provider may receive item price information and/or point of sale (POS) transaction information from a plurality of merchant devices associated with a plurality of merchants. The service provider may categorize the plurality of merchants according to the types of items offered by the respective merchants, and may further categorize the merchants according to the locations at which they conduct business. The service provider may subsequently determine a price recommendation or other pricing information for a particular item offered by a particular merchant. A merchant device of the particular merchant may present the pricing information in a user interface that enables the merchant to view projected sales at various different price points. Further, the merchant may be able to specify one or more factors used for determining the recommend price, such as a desired business model, a desired clientele, a desired profit margin, or the like.

Claims

1. A system implementing a payment service for communicating over one or more networks with a plurality of point of sale (POS) devices associated with a plurality of merchants, the system comprising:

one or more processors; and

one or more computer-readable media storing instructions executable by the one or more processors, wherein the instructions program the one or more processors to;

receive, from the plurality of POS devices executing respective instances of a merchant application, POS transaction information for a plurality of POS transactions occurring at a plurality of POS transaction locations;

associate the POS transaction information with individual merchant profiles corresponding to respective POS devices from which the POS transaction information was received;

associate the individual merchant profiles with at least one merchant category of a plurality of merchant categories, wherein the plurality of merchant categories are based at least in part on items offered via the respective POS devices;

associate the individual merchant profiles with one or more location categories based at least in part on the POS transaction locations associated with the respective POS devices, wherein the one or more location categories include a type of venue in which a POS transaction occurs;

securely store the individual merchant profiles in a database associated with the payment service;

receive, from a particular POS device associated with a particular merchant profile, information related to a particular item;

determine a merchant category associated with the particular merchant profile;

determine, based at least in part on a location of the particular POS device, at least one location category associated with the particular merchant profile;

determine a subset of the merchant profiles, wherein the merchant profiles in the subset are associated with at least one of a same merchant category or a same location category as the particular merchant profile;

determine pricing information for the particular item from the POS transaction information associated with the subset of the merchant profiles, wherein the pricing information includes a recommended price for the particular item;

send the pricing information to the particular POS device;

receive, from the particular POS device, an indication of a selection at the particular POS device of the recommended price;

receive, from the particular POS device, an indication of a transaction with a customer at the particular POS device, wherein the transaction comprises at least a sale of the particular item; and

process a payment for the transaction, wherein the payment includes funds associated with the particular item and corresponding to the recommended price.

2. The system as recited in claim 1, wherein the instructions further program the one or more processors to:

associate individual POS transactions from the POS transaction information with a plurality of respective buyer profiles, wherein individual buyer profiles include respective buyer information and information regarding at least one POS transaction associated with the respective buyer information; and

determine a subset of the buyer profiles that each include information regarding one or more POS transactions associated with at least one of the particular merchant profile or the subset of merchant profiles for acquiring the particular item;

wherein the determining the pricing information is based at least in part on prices paid for the particular item as indicated in the information regarding the one or more POS transactions included in the subset of buyer profiles.

3. The system as recited in claim 1, wherein the instructions further program the one or more processors to determine the recommended price based on one or more factors comprising at least one of:

a cost of the particular item associated with the particular merchant profile;

a specified profit margin associated with the particular merchant profile;

at least one specified buyer characteristic associated with the particular merchant profile;

or

an expressed or implied business model associated with the particular merchant profile.

4. The system as recited in claim 1, wherein:

the pricing information indicates prices of items previously selected through respective POS devices associated with the individual merchant profiles; and

the POS transaction information indicates, for individual POS transactions of a plurality of POS transactions, at least one item acquired during each POS transaction and a price paid for acquiring the at least one item.

24. The system as recited in claim 1, wherein the type of venue in which a POS transaction occurs is at least one of:

a transportation hub;

a shopping area;

a sports venue;

or

an outdoor event.

5. A method comprising:

receiving, by a service computing device associated with a payment service, from a plurality of point of sale (POS) devices associated with a plurality of respective merchant profiles and executing respective instances of a merchant application, POS transaction information, the payment service being configured to communicate with the plurality of POS devices;

receiving, from a POS device associated with a particular merchant profile, a request for information regarding pricing of a particular item;

determining, from the particular merchant profile, a location of the POS device;

determining a subset of the plurality of merchant profiles, wherein each of the merchant profiles in the subset of merchant profiles are associated with a location that is within a predetermined proximity to the location of the POS device;

associating the POS transaction information with a plurality of buyer profiles, wherein individual buyer profiles include buyer information and information regarding at least one POS transaction associated with the buyer information;

determining a subset of the buyer profiles that include information regarding one or more POS transactions for acquiring the particular item;

determining pricing information for the particular item, based at least in part on the POS transaction information associated with the subset of merchant profiles and on the information regarding one or more POS transactions for acquiring the particular item included in the subset of the buyer profiles; and

sending the pricing information to the POS device associated with the particular merchant profile.

6. The method as recited in claim 5, further comprising:

associating the POS transaction information with respective merchant profiles corresponding to respective POS devices from which the POS transaction information was received,

wherein the merchant profiles in the subset of merchant profiles are similar to the particular merchant profile with respect to types of items offered.

7. The method as recited in claim 6, wherein the determining the subset of merchant profiles further comprises:

associating each of the plurality of merchant profiles and the particular merchant profile with at least one merchant category of a plurality of merchant categories, wherein the merchant categories are based at least in part on the items offered through the respective POS devices corresponding to the respective merchant profiles;

wherein determining the subset of the merchant profiles is based at least in part on the merchant profiles in the subset being associated with a same merchant category as the particular merchant profile.

8. The method as recited in claim 6, further comprising:

associating each of the plurality of merchant profiles and the particular merchant profile with at least one location category, wherein a location category indicates at least one of a geographic region, a portion of a geographic region, or a defined physical area; and

wherein the determining the subset of the merchant profiles is based at least in part on the merchant profiles in the subset being associated with a same location category as the particular merchant profile.

9. The method as recited in claim 5, wherein the determining the pricing information for the particular item further comprises determining at least one of:

a highest price at which the particular item is offered;

a lowest price at which the particular item is offered;

a median price at which the particular item is offered;

or

an average price at which the particular item is offered.

10. The method as recited in claim 5, wherein:

determining the pricing information for the particular item further comprises determining a recommended price for the particular item based at least in part on information received from the POS device associated with the particular merchant profile; and

determining the recommended price for the particular item further comprises determining the recommended price based at least in part on at least one of;

a cost of the particular item associated with the particular buyer profile;

or

a specified profit margin associated with the particular buyer profile.

11. The method as recited in claim 5, further comprising determining the subset of buyer profiles based on at least one common characteristic, wherein the at least one common characteristic is determined based on at least one of:

buyer residence information;

buyer age;

buyer sex;

buyer affluence;

buyer ethnicity;

buyer language;

buyer education;

buyer marital status;

buyer occupation;

buyer religion;

buyer political affiliation;

or buyer association membership.

12. The method as recited in claim 5, further comprising associating the POS transaction information with the respective buyer profiles based at least in part on determining that buyer information included with the POS transaction information matches buyer information in the respective buyer profiles with a level of confidence that exceeds a threshold level of confidence.

26. The method as recited in claim 5, further comprising:

receiving, from the POS device, an indication of a transaction with a customer at the POS device, wherein the transaction comprises at least a sale of the particular item; and

processing a payment for the transaction, wherein the payment includes funds associated with the particular item and corresponding to the pricing information.

13. A method comprising:

receiving, by a service computing device associated with a payment service and from a plurality of point of sale (POS) devices executing respective instances of a merchant application, POS transaction information for a plurality of POS transactions occurring at a plurality of POS transaction locations, the payment service being configured to communicate with the plurality of POS devices;

associating, by the service computing device, the POS transaction information with individual merchant profiles corresponding to respective POS devices from which the POS transaction information was received;

associating, by the service computing device, the individual merchant profiles with at least one merchant category of a plurality of merchant categories, wherein the merchant categories are based at least in part on the items offered through the respective POS devices corresponding to the individual merchant profiles;

associating, by the service computing device, the individual merchant profiles with one or more location categories based at least in part on the POS transaction locations associated with the respective POS devices, wherein the one or more location categories include a type of venue in which a POS transaction occurs;

receiving, from a particular POS device associated with a particular merchant profile, information related to a particular item;

determining, by the service computing device, a merchant category associated with the particular merchant profile;

determining, based at least in part on a location of the particular POS device, at least one location category associated with the particular merchant profile;

determining a subset of the merchant profiles, wherein the merchant profiles in the subset are associated with at least one of a same merchant category or a same location category as the particular merchant profile;

determining pricing information for the particular item from the POS transaction information associated with the subset of the merchant profiles, wherein the pricing information includes a recommended price for the particular item;

sending the pricing information to the particular POS device;

receiving, from the particular POS device, an indication of a selection at the particular POS device of the recommended price;

receiving, from the particular POS device, an indication of a particular POS transaction with a customer at the particular POS device, wherein the particular POS transaction comprises at least a sale of the particular item; and

processing a payment for the transaction, wherein the payment includes funds associated with the particular item and corresponding to the recommended price.

14. The method as recited in claim 13, further comprising:

associating individual POS transactions from the POS transaction information with a plurality of respective buyer profiles, wherein individual buyer profiles include respective buyer information and information regarding at least one POS transaction associated with the respective buyer information; and

determining a subset of the buyer profiles that each include information regarding one or more POS transactions associated with at least one of the particular merchant profile or the subset of merchant profiles for acquiring the particular item;

wherein the determining the pricing information is based at least in part on prices paid for the particular item as indicated in the information regarding the one or more POS transactions included in the subset of buyer profiles.

15. The method as recited in claim 13, further comprising:

determining the recommended price based on one or more factors comprising at least one of;

a cost of the particular item associated with the particular merchant profile;

a specified profit margin associated with the particular merchant profile;

at least one specified buyer characteristic associated with the particular merchant profile;

or

an expressed or implied business model associated with the particular merchant profile.

16. The method as recited in claim 13, wherein:

the pricing information indicates prices of items previously selected through respective POS devices associated with the individual merchant profiles; and

the POS transaction information indicates, for individual POS transactions of a plurality of POS transactions, at least one item acquired during each POS transaction and a price paid for acquiring the at least one item.

25. The method as recited in claim 13, wherein the type of venue in which a POS transaction occurs is at least one of:

a transportation hub;

a shopping area;

a sports venue;

or

an outdoor event.

28. The method as recited in claim 13, wherein the determining the pricing information for the particular item further comprises determining at least one of:

a highest price at which the particular item is offered;

a lowest price at which the particular item is offered;

a median price at which the particular item is offered;

or

an average price at which the particular item is offered.

17. One or more non-transitory computer-readable media maintaining instructions that, when executed by one or more processors of a service computing device associated with a payment service that is configured to communicate with a plurality of point of sale (POS) devices, program the one or more processors to perform operations comprising:

receiving from the plurality of POS devices associated with a plurality of respective merchant profiles and executing respective instances of a merchant application, POS transaction information;

receiving, from a POS device associated with a particular merchant profile, a request for information regarding pricing of a particular item;

determining, from the particular merchant profile, a location of the POS device;

determining a subset of the plurality of merchant profiles, wherein each of the merchant profiles in the subset of merchant profiles are associated with a location that is within a predetermined proximity to the location of the POS device, wherein determining the subset of the plurality of merchant profiles comprises;

associating each of the plurality of merchant profiles and the particular merchant profile with at least one merchant category of a plurality of merchant categories, wherein the merchant categories are based at least in part on the items offered through the respective POS devices corresponding to the respective merchant profiles; and

determining the subset of the merchant profiles based at least in part on the merchant profiles in the subset being associated with a same merchant category as the particular merchant profile;

determining pricing information for the particular item, at least in part, from the POS transaction information associated with the subset of merchant profiles;

sending the pricing information to the POS device associated with the particular merchant profile;

associating the at least one of the pricing information or the POS transaction information with respective merchant profiles corresponding to respective POS devices from which the at least one of the pricing information or the POS transaction information was received; and

wherein the merchant profiles in the subset are similar to the particular merchant profile with respect to types of items offered.

18. The one or more non-transitory computer-readable media as recited in claim 17, wherein the operations further comprise:

associating each of the plurality of merchant profiles and the particular merchant profile with at least one location category, wherein a location category indicates at least one of a geographic region, a portion of a geographic region, or a defined physical area;

wherein determining the subset of the merchant profiles includes determining the subset of merchant profiles based at least in part on the merchant profiles in the subset being associated with a same location category as the particular merchant profile.

19. The one or more non-transitory computer-readable media as recited in claim 17, wherein the determining the pricing information for the particular item comprises determining at least one of:

a highest price at which the particular item is offered;

a lowest price at which the particular item is offered;

a median price at which the particular item is offered;

or

an average price at which the particular item is offered.

20. The one or more non-transitory computer-readable media as recited in claim 17, wherein:

determining the pricing information for the particular item comprises determining a recommended price for the particular item based at least in part on information received from the POS device associated with the particular merchant profile; and

determining the recommended price for the particular item comprises determining the recommended price based at least in part on at least one of;

a cost of the particular item associated with a particular buyer profile;

or

a specified profit margin associated with the particular buyer profile.

21. The one or more non-transitory computer-readable media as recited in claim 17, wherein the operations further comprise:

associating the POS transaction information with a plurality of respective buyer profiles, wherein individual buyer profiles include respective buyer information and information regarding at least one POS transaction associated with the respective buyer information; and

determining a subset of the buyer profiles that include information regarding one or more POS transactions for acquiring the particular item;

wherein determining the pricing information is based, at least in part, on the information regarding one or more POS transactions for acquiring the particular item included in the subset of the buyer profiles.

22. The one or more non-transitory computer-readable media as recited in claim 21, wherein determining the subset of buyer profiles includes determining the subset of buyer profiles based on at least one common characteristic, wherein the at least one common characteristic is determined based on at least one of:

buyer residence information;

buyer age;

buyer sex;

buyer affluence;

buyer ethnicity;

buyer language;

buyer education;

buyer marital status;

buyer occupation;

buyer religion;

buyer political affiliation;

or buyer association membership.

23. The one or more non-transitory computer-readable media as recited in claim 21, wherein associating the POS transaction information includes associating the POS transaction information with the respective buyer profiles based at least in part on determining that buyer information included with the POS transaction information matches buyer information in the respective buyer profiles with a level of confidence that exceeds a threshold level of confidence.

27. The one or more non-transitory computer-readable media as recited in claim 17, the operations further comprising:

receiving, from the POS device, an indication of a transaction with a customer at the POS device, wherein the transaction comprises at least a sale of the particular item; and

processing a payment for the transaction, wherein the payment includes funds associated with the particular item and corresponding to the pricing information.