Method and system for manipulating purchase information

• US 20070055597A1
• Filed: 03/16/2006
• Published: 03/08/2007
• Est. Priority Date: 09/08/2005
• Status: Abandoned Application

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Ciurea, Peter, Patel, Karteek, Suarez, Sarah
• Application Number:
  US11/378,215
• Publication Number:
  US 20070055597A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method and system for generating customized categories for financial transaction reports associated with portable consumer devices is disclosed. In one embodiment, a financial transaction reporting system is configured to track and output a user'"'"'s financial transactions associated with the user'"'"'s portable consumer device for both credit and debit transactions. The system and method automatically assigns financial transactions associated with their credit and/or debit cards with a transaction category such as business, travel, meals and entertainment, etc. based on predefined and/or user-defined merchant categorization codes. The user on a server is provided with the capability to customize the merchant categorization codes and the content of reports derived from the user'"'"'s financial transactions. The user may customize the report content to specific transaction categories, sub-categories, and time periods.

Claims

1. A method comprising:

receiving at a server, purchase information relating to multiple purchase transactions made using one or more portable consumer devices;

assigning each purchase to a transaction category within a plurality of transaction categories, wherein each purchase is associated with a merchant classification code;

customizing the transaction categories; and

creating a report showing purchases made under the customized transaction categories.

2. The method of claim 1, wherein the customized transaction categories are customized by the server after a user selects the customized transaction categories from a list of pre-defined transaction categories.

3. The method of claim 1, wherein the customized transaction categories are specifically named by a user.

4. The method of claim 1, wherein the one or more portable consumer devices includes credit and debit devices, wherein the purchases include debit and credit devices transactions in the same report.

5. The method of claim 1, wherein if no merchant classification code is available then providing a default merchant classification code.

6. The method of claim 1, wherein assigning the purchases with a transaction category comprises moving purchases from a current transaction category to another transaction category specifically named or selected by a user.

7. The method of claim 1, wherein assigning the purchases with a transaction category comprises adding a new transaction category specifically named by a user.

8. A computer readable medium, computational apparatus, or server computer comprising computer code for performing the method of claims 1.

9. A method comprising:

receiving at a server, registrations for one or more portable consumer devices;

receiving purchase information for the one or more portable consumer devices;

associating a transaction category to at least some of the purchase information, wherein the transaction category is derived from the purchase information; and

generating a report including the purchase information for the one or more consumer devices,

wherein different users are able to register a specific number of portable consumer devices and generate reports only with respect to those registered portable consumer devices.

10. The method of claim 9, wherein the one or more portable consumer devices include credit and debit cards.

11. The method of claim 9, wherein the report includes both debit and credit device purchases on the same report.

12. A computer readable medium comprising code for performing the method of claim 9.

13. A financial tracking and reporting system, the system comprising:

a financial data input system capable of receiving financial transactions from portable consumer devices;

a data categorization system capable of categorizing at least some of the financial transactions into one of a plurality of transaction categories based on a merchant classification code, wherein the data categorization system is capable of customizing the transaction categories in response to a user input; and

a transaction reporting system capable of generating financial reports using at least some categorized financial transactions.

14. The system of claim 13, wherein the portable consumer devices comprise credit devices and debit devices.

15. The system of claim 13, wherein the data categorization system categories the financial transactions using a list of pre-defined transaction categories.

16. The system of claim 13, wherein the user input comprises customized categories specifically named by a user.

17. The system of claim 13, wherein the data categorization system categories the financial transactions by moving the financial transactions from one transaction category to another transaction category specifically named or selected by a user.

18. The system of claim 13, wherein the data categorization system categories the financial transactions by adding a user-defined transaction category.

19. The system of claim 13, wherein the data categorization system generates reports based on transaction categories specifically named or selected by a user.

20. The system of claim 13, wherein the data categorization system generates reports based on one or more time periods specifically named or selected by a user.

21. The system of claim 13, further comprising a portable consumer device registration system capable of registering credit and debit cards specifically named by a user.