Dynamic aggregation of payment transactions

• US 20060273152A1
• Filed: 06/07/2005
• Published: 12/07/2006
• Est. Priority Date: 06/07/2005
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Fields, Helen
• Granted Patent: US 7,665,658 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A transaction aggregation method that includes the steps of receiving user data and a current transaction amount associated with a current transaction, and retrieving a reliability score for the user with the user data, and calculating an aggregation threshold based on the reliability score. The method also includes updating an aggregated transaction amount by adding the current transaction amount to a previously aggregated transaction amount from previous transactions, and comparing the updated aggregated amount with the aggregation threshold, where the current transaction is aggregated with the previous transactions when the updated aggregated amount is less than the aggregation threshold.

Claims

1. A transaction aggregation method comprising:

receiving user data and a current transaction amount associated with a current transaction;

retrieving a reliability score for the user with the user data, and calculating an aggregation threshold based on the reliability score;

updating an aggregated transaction amount by adding the current transaction amount to a previously aggregated transaction amount from previous transactions; and

comparing the updated aggregated amount with the aggregation threshold, wherein the current transaction is aggregated with the previous transactions when the updated aggregated amount is less than the aggregation threshold.

2. The transaction aggregation method of claim 1, wherein the reliability score is determined by:

assigning a value to a component of the user data; and

combining the value with values of other components of the user data to generate the reliability score.

3. The transaction aggregation method of claim 1, wherein the current transaction is processed as an unaggreaged transaction when the updated aggregated amount is greater than the aggregation threshold.

4. The transaction aggregation method of claim 1, wherein the user data comprises an email address, an IP address, a user name, a user address, a user age, a user'"'"'s financial condition, a user'"'"'s successful transaction history, or a user'"'"'s unsuccessful transaction history.

5. The transaction aggregation method of claim 1, wherein the determination of the reliability score is also based on transaction data.

6. The transaction aggregation method of claim 4, wherein the transaction data comprises information about transaction location, transaction venue, transaction item, transaction payment channel, or transaction discounts.

7. The transaction aggregation method of claim 1, wherein the determination of the reliability score comprises:

generating a raw reliability score from one or more components of the user data; and

adjusting the raw reliability score with an adjustment factor to produce the reliability score.

8. The transaction aggregation method of claim 7, wherein the adjustment factor is set manually by a merchant involved in the current transaction.

9. The transaction aggregation method of claim 1, wherein the calculation of the aggregation threshold is also based on a loyalty factor.

10. The transaction aggregation method of claim 9, wherein the calculation of the aggregation threshold comprises:

calculating an preliminary aggregation threshold based on the reliability score; and

multiplying the preliminary aggregation threshold by the loyalty factor to produce the aggregation threshold.

11. A method of selecting a transaction for aggregation with other transactions, the method comprising:

comparing a transaction amount associated with the transaction with a threshold amount, wherein the transaction is processed as an unaggregated transaction when the transaction amount exceeds the threshold amount, and wherein the transaction is aggregated with one or more other transactions into an aggregated transaction when the transaction amount is less than the threshold amount; and

comparing an aggregated amount for the aggregated transaction with an aggregation threshold, wherein one or more additional transactions may be added to the aggregated transaction when the aggregated amount is less than the aggregation threshold, and wherein the aggregated transaction is processed when the aggregated amount exceeds the aggregation threshold, and

wherein the aggregation threshold is calculated based on a reliability score that is retrieved from data about a user who has initiated the transaction.

12. A transaction aggregation system comprising:

an input to enter an identity of a user associated with a current transaction;

a memory to store user data associated with the identity, and current transaction amount for the current transaction, wherein the user data is used to determine a reliability score for the user; and

a processor to calculate an aggregation threshold based on the reliability score, and to update an aggregated transaction amount by adding the current transaction amount to a previously aggregated transaction amount from previous transactions, wherein the updated transaction amount is compared with the aggregation threshold, and the current transaction is aggregated with the previous transactions when the updated aggregated amount is less than the aggregation threshold.

13. The transaction aggregation system of claim 12, wherein the current transaction is processed as an unaggregated transaction when the updated aggregated amount is greater than the aggregation threshold.

14. The transaction aggregation system of claim 12, wherein the user data stored in the memory is selected from the group consisting of an email address, an IP address, a user name, a user address, a user age, a user'"'"'s financial condition, a user'"'"'s successful transaction history, and a user'"'"'s unsuccessful transaction history.

15. The transaction aggregation system of claim 12, wherein the memory stores transaction data, and the transaction data is also used to determine the reliability score.

16. The transaction aggregation system of claim 15, wherein the transaction data comprises information about transaction location, transaction venue, transaction item, transaction payment channel, or transaction discounts.

17. A transaction aggregation network comprising:

a first node where an identity of a user conducting a current transaction on the network is input;

a second node where user data associated with the identity of the user is stored, wherein the user data is used to retrieve a reliability score for the user; and

a third node where an aggregation threshold based on the reliability score is calculated, and an updated aggregated transaction amount is generated by adding a current transaction amount to a previously aggregated transaction amount from previous transactions, wherein the updated transaction amount is compared with the aggregation threshold, and the current transaction is added to the previous transactions to form an aggregated transaction when the updated aggregated amount is less than the aggregation threshold.

18. The transaction aggregation network of claim 17, wherein the network comprises a fourth node comprising a financial data network where the aggregated transaction is sent to be processed.

19. The transaction aggregation network of claim 18, wherein aggregated transaction data is sent between the third node and the fourth node over the Internet.

20. The transaction aggregation network of claim 19, wherein the aggregated transaction data is encrypted.