Merchant integrated subscription model

• US 20070226097A1
• Filed: 03/27/2006
• Published: 09/27/2007
• Est. Priority Date: 03/27/2006
• Status: Abandoned Application

• Current Assignee: Capital One Financial Corporation
• Original Assignee: Capital One Financial Corporation
• Inventors: Keechle, Alexander
• Application Number:
  US11/389,108
• Publication Number:
  US 20070226097A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• 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
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system, method, and computer program product for integrating one or more purchase transactions by one or more customers with a merchant and a financial institution is provided. A financial institution may provide an integrated subscription service to subscribing merchants. The integrated subscription service allows the merchant, financial institution, or another party to select a marketing plan for the merchant in order to attract customers. Those customers may then use a financial account of the financial institution to aid in the purchase of goods and/or services from the merchant. The financial institution may then compensate the merchant for these purchase transactions.

Claims

1. A method for providing integrated subscription services, comprising:

subscribing, by a merchant, to an integrated subscription plan offered by a financial institution that provides an incentive to the merchant for using a financial service offered by the financial institution in completing purchase transactions;

marketing, by the financial institution, the merchant to one or more potential customers based on the integrated subscription plan;

completing a purchase transaction between a first customer and the merchant, wherein the first customer is included in the one or more potential customers and the purchase transaction is completed using a financial account offered by the financial institution; and

providing compensation from the financial institution to the merchant based on the completed purchase transaction.

2. The method of claim 1, wherein subscribing further comprises:

making a payment by the merchant to the financial institution; and

selecting a method of marketing to the one or more potential customers.

3. The method of claim 2, wherein the method of marketing further comprises one or more of the following:

sending, to the one or more potential customers, respective pre-approval letters for pre-approved financial accounts;

sending, to the one or more potential customers, blank check packages that include advertisements promoting the merchant;

sending, to the one or more potential customers, general media advertisements promoting the merchant; and

adding the merchant to one or more cross-sell letters provided by the financial institution.

4. The method of claim 1, wherein marketing further comprises one or more of the following:

sending, to the one or more potential customers, respective pre-approval letters for pre-approved financial accounts;

sending, to the one or more potential customers, blank check packages that include advertisements promoting the merchant;

sending, to the one or more potential customers, general media advertisements promoting the merchant; and

adding the merchant to one or more cross-sell letters provided by the financial institution.

5. The method of claim 4, wherein the marketing is performed using one or more of the following:

electronic communications, voice communications, radio communications, satellite communications, and paper-based delivery communications.

6. The method of claim 1 wherein marketing further comprises selecting one or more criteria associated with the subscription and using the one or more criteria to determine the one or more potential customers.

7. The method of claim 6, wherein the one or more criteria comprise at least one of the following:

a merchant location, merchant demographics, price of the merchant'"'"'s goods, type of the merchant'"'"'s goods, customer location, customer demographics, customer financial status, and customer purchase history.

8. The method of claim 1, wherein providing compensation further comprises at least one of:

paying a commission to the merchant, and waiving a subscription fee owed to the financial institution by the merchant.

9. The method of claim 8, wherein the commission is a fee based on one or more of the following:

a number of purchase transactions completed between the merchant and one or more customers using respective financial accounts offered by the financial institution;

an amount of sales completed by the merchant using one or more financial accounts of the financial institution;

the type of financial account offered by the financial institution and used for the completed purchase transaction, and

a method of marketing used to market the merchant to the one or more customers.

10. The method of claim 9, wherein the commission is a fee paid for each purchase transaction completed using a financial account offered by the financial institution.

11. The method of claim 9, wherein the type of financial account further comprises a type of loan.

12. The method of claim 11, wherein the type of loan further comprises at least one of a pre-approved loan, an above-average interest rate loan, a below-average interest rate loan, market interest rate loan, a zero-interest loan, and a loan obtained via a cross-sell letter.

13. The method of claim 1, wherein subscribing further comprises making a payment by the merchant to the financial institution, and wherein the financial institution guarantees to refund part or all of the payment if the merchant does not complete a threshold amount of sales in a particular time period.

14. The method of claim 13, wherein the threshold amount of sales is based on at least one of a threshold monetary value and a threshold number of purchase transactions.

15. The method of claim 1, wherein the merchant is a dealer in vehicles, the completed purchase transaction is the purchase of a vehicle, and the merchant is provided compensation from the financial institution based at least in part on the purchase of the vehicle.

16. The method of claim 1, further comprising:

subscribing, by one or more additional merchants, to one or more respective integrated subscription plans offered by the financial institution.

17. A system for integrating one or more purchase transactions by one or more customers with a merchant and a financial institution, comprising:

a host computer system;

a storage unit associated with the host computer system, the storage unit configured to store at least an indication of the merchant'"'"'s subscription to an integrated subscription plan offered by the financial institution and an indication of one or more completed purchase transactions between a first customer and the merchant for one or more goods or services offered by the merchant; and

a distribution unit associated with the host computer system, the distribution unit configured to distribute marketing information from the financial institution to one or more potential customers, the marketing information marketing the merchant to the one or more potential customers,

wherein the first customer is included in the one or more potential customers and the one or more completed purchase transactions are made using one or more financial services offered by the financial institution, and

wherein compensation is provided from the financial institution to the merchant based on the one or more completed purchase transactions.

18. The system of claim 17, wherein the merchant'"'"'s subscription to the integrated subscription plan offered by the financial institution further comprises:

a payment made by the merchant to the financial institution; and

a selected method of marketing to the one or more potential customers.

19. The system of claim 18, wherein the selected method of marketing further comprises one or more of the following:

sending, to the one or more potential customers, respective pre-approval letters for pre-approved financial accounts;

sending, to the one or more potential customers, blank check packages that include advertisements promoting the merchant;

sending, to the one or more potential customers, general media advertisements promoting the merchant; and

adding the merchant to one or more cross-sell letters provided by the financial institution.

20. The method of claim 17, wherein the marketing information further comprises one or more of the following:

respective pre-approval letters sent to the one or more potential customers for pre-approved financial accounts;

blank check packages sent to the one or more potential customers that include advertisements promoting the merchant;

general media advertisements promoting the merchant, sent to the one or more potential customers; and

one or more cross-sell letters provided by the financial institution that identify the merchant.

21. The system of claim 20, wherein the marketing information is distributed using one or more of the following:

electronic communications, voice communications, radio communications, satellite communications, and paper-based delivery communications.

22. The system of claim 17 wherein the marketing information further comprises one or more selected criteria associated with the subscription and the host computer system uses the one or more selected criteria to determine the one or more potential customers.

23. The system of claim 22, wherein the one or more criteria comprise at least one of the following:

merchant location, merchant demographics, price of the merchant'"'"'s goods, type of the merchant'"'"'s goods, customer location, customer demographics, customer financial status, and customer purchase history.

24. The system of claim 17, wherein the compensation further comprises at least one of:

a commission paid to the merchant, and a waiver of a subscription fee owed to the financial institution by the merchant.

25. The system of claim 24, wherein the commission is a fee based on one or more of the following:

a number of purchase transactions completed between the merchant and one or more customers using respective financial accounts offered by the financial institution;

an amount of sales completed by the merchant using one or more financial accounts of the financial institution;

the type of financial account offered by the financial institution and used for the completed purchase transaction, and

a method of marketing used to market the merchant to the one or more customers.

26. The system of claim 25, wherein the commission is a fee paid for each purchase transaction completed using a financial account offered by the financial institution.

27. The system of claim 25, wherein the type of financial account further comprises a type of loan.

28. The system of claim 27, wherein the type of loan further comprises at least one of a pre-approved loan, an above-average interest rate loan, a below-average interest rate loan, market interest rate loan, a zero-interest loan, and a loan obtained via a cross-sell letter.

29. The system of claim 17, wherein the integrated subscription plan offered by the financial institution further comprises a payment made by the merchant to the financial institution, and a guarantee by the financial institution to refund part or all of the payment if the merchant does not complete a threshold amount of sales in a particular time period.

30. The system of claim 29, wherein the threshold amount of sales is based on at least one of a threshold monetary value and a threshold number of purchase transactions.

31. The system of claim 30, wherein the merchant is a dealer in vehicles, the completed purchase transaction is the purchase of a vehicle, and the compensation provided from the financial institution to the merchant is based at least in part on the purchase of the motorized vehicle.

32. The system of claim 17, wherein the storage unit is further configured to store an indication of a subscription by one or more additional merchants to a respective integrated subscription plan offered by the financial institution.

33. A computer program product embodied in a computer-readable medium, the computer program product performing, when executed by a processor, a method for integrating one or more purchase transactions by one or more customers with a merchant and a financial institution, the computer program product further comprising:

a first program code portion executed by the processor to enable the merchant to subscribe to an integrated subscription plan offered by the financial institution;

a second program code portion executed by the processor to enable the merchant to indicate to the financial institution to market the merchant to one or more potential customers;

a third program code portion executed by the processor to indicate a completion of one or more purchase transactions between a first customer and the merchant for one or more goods or services offered by the merchant, wherein the first customer is included in the one or more potential customers, and wherein the one or more purchase transactions are made using a financial service offered by the financial institution; and

a fourth program code portion executed by the processor to enable the financial institution to provide compensation to the merchant based on the one or more completed purchase transactions.