Method and system for monitoring electronic transactions
First Claim
1. A method for monitoring costs associated with at least one transaction, comprising:
- receiving a set of data relating to at least one transaction;
identifying the cost of the at least one transaction based on said set of data; and
generating an alert based upon a variation of the cost of the transaction as compared to a predefined target transaction cost.
27 Assignments
0 Petitions
Accused Products
Abstract
A method and system for monitoring electronic transactions, such as credit card transactions, to determine whether associated transaction costs, such as interchange fees, are being properly qualified. This is accomplished by monitoring for a “spike” in interchange qualifications and generating an alert when one or more spikes are detected. Spikes in interchange qualifications are defined as a variation in interchange qualifications compared with an historical level. The method and system may also monitor changes in cost or efficiency for other types of transactions in which the cost or efficiency of the transaction is based directly upon one or more variables.
97 Citations
94 Claims
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1. A method for monitoring costs associated with at least one transaction, comprising:
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receiving a set of data relating to at least one transaction;
identifying the cost of the at least one transaction based on said set of data; and
generating an alert based upon a variation of the cost of the transaction as compared to a predefined target transaction cost. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for monitoring costs associated with a plurality of transactions completed during a period of time, comprising:
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receiving historical qualification cost data relating to costs associated with processing transactions completed before a period of time, wherein the historical data is associated with a plurality of level codes;
receiving current qualification cost data relating to costs associated with processing transactions completed during the period of time, wherein the historical data is associated with a plurality of level codes; and
comparing historical qualification cost data with current qualification cost data for at least one of the level codes to determine whether current transaction costs as compared to historical transaction costs varies by more than a predetermined threshold for at least one of the level codes. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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34. A method for monitoring efficiency associated with at least one transaction, comprising:
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receiving a set of data relating to at least one transaction;
identifying the efficiency of the at least one transaction based on said set of data; and
generating an alert based upon a variation of the efficiency of the transaction as compared to a predefined target transaction efficiency. - View Dependent Claims (35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47)
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48. A system for monitoring costs associated with at least one transaction, comprising:
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at least one storage device for receiving a set of data relating to at least one transaction; and
at least one processor for identifying the cost of the at least one transaction based on said set of data, and for generating an alert based upon a variation of the cost of the transaction as compared to a predefined target transaction cost. - View Dependent Claims (49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62)
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63. A system for monitoring costs associated with a plurality of transactions completed during a period of time, comprising:
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at least one storage device for receiving historical qualification cost data relating to costs associated with processing transactions completed before a period of time, wherein the historical data is associated with a plurality of level codes, and for receiving current qualification cost data relating to costs associated with processing transactions completed during the period of time, wherein the historical data is associated with a plurality of level codes; and
at least one processor for comparing historical qualification cost data with current qualification cost data for each of the level codes to determine whether current transaction costs as compared to historical transaction costs varies by more than a predetermined threshold for at least one of the level codes. - View Dependent Claims (64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80)
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81. A system for monitoring efficiency associated with at least one transaction, comprising:
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at least one storage device for receiving a set of data relating to at least one transaction; and
at least one processor for identifying the efficiency of the at least one transaction based on said set of data, and for generating an alert based upon a variation of the efficiency of the transaction as compared to a predefined target transaction efficiency. - View Dependent Claims (82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93, 94)
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Specification