METHOD AND APPARATUS FOR RECOMMENDING A PAYMENT METHOD IN A TRANSACTION

• US 20090018923A1
• Filed: 07/13/2007
• Published: 01/15/2009
• Est. Priority Date: 07/13/2007
• Status: Abandoned Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Walker, Keith Raymond, Chen, Yen-Fu, Morgan, Fabian F., Eagle, Sarah Vijoya White
• Application Number:
  US11/777,665
• Publication Number:
  US 20090018923A1
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• 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

Abstract

The illustrative embodiments described herein provide a computer-implemented methods apparatus, and computer program product for recommending a payment method in a transaction. The process generates a user profile based on user information. The process receives data regarding incentives available for using a set of payment methods to form incentive policy data. The process identifies a set of parameters associated with the transaction. The process generates a set of recommended payment methods in the set of payment methods using the user profiles the incentive policy data, and the set of parameters to form a recommendation. The set of recommended payment methods are recommended to complete the transaction. The process provides the recommendation to a user.

Claims

1. A computer-implemented method for recommending a payment method in a transaction, comprising:

generating a user profile based on user information, wherein the user information is associated with a user;

receiving data regarding incentives available for using a set of payment methods to form incentive policy data;

identifying a set of parameters associated with the transaction;

generating a set of recommended payment methods in the set of payment methods using the user profile, the incentive policy data, and the set of parameters to form a recommendation, wherein the set of recommended payment methods are recommended to complete the transaction; and

providing the recommendation to the user.

2. The computer-implemented method of claim 1, wherein the set of recommended payment methods includes an identification of the incentives available for using each recommended payment method in the set of recommended payment methods.

3. The computer-implemented method of claim 1, wherein the recommendation includes a ranking of each payment method in the set of recommended payment methods, and wherein the ranking ranks each payment method in the set of recommended payment methods in accordance with the incentives available for using each payment method in the set of recommended payment methods.

4. The computer-implemented method of claim 1, wherein the set of payment methods is a set of credit cards.

5. The computer-implemented method of claim 1, wherein the set of parameters includes a type of business associated with the transaction.

6. The computer-implemented method of claim 1, wherein the set of parameters includes a location of the transaction.

7. The computer-implemented method of claim 1, wherein the set of payment methods includes at least one of a debit card, a gift card, and a store specific credit card.

8. The computer-implemented method of claim 1, wherein the user information is provided by the user in a registration process.

9. The computer-implemented method of claim 1, further comprising:

receiving data associated with the transaction to form transaction data, wherein identifying the set of parameters associated with the transaction is performed using the transaction data.

10. The computer-implemented method of claim 1, wherein the recommendation is generated in an off-line mode.

11. The computer-implemented method of claim 1, wherein providing the recommendation to a user further comprises:

providing the recommendation in response to receiving authentication data.

12. The computer-implemented method of claim 11, wherein the authentication data is a personal identification number.

13. A computer program product in a computer-readable medium for recommending a payment method in a transaction, the computer program product comprising:

computer-usable program code for generating a user profile based on user information, wherein the user information is associated with a user;

computer-usable program code for receiving data regarding incentives available for using a set of payment methods to form incentive policy data;

computer-usable program code for identifying a set of parameters associated with the transaction;

computer-usable program code for generating a set of recommended payment methods in the set of payment methods using the user profile, the incentive policy data, and the set of parameters to form a recommendation, wherein the set of recommended payment methods are recommended to complete the transaction; and

computer-usable program code for providing the recommendation to the user.

14. The computer program product of claim 13, wherein the set of recommended payment methods includes an identification of the incentives or rewards available for using each recommended payment method in the set of recommended payment methods.

15. The computer program product of claim 13, wherein the recommendation includes a ranking of each payment method in the set of recommended payment methods, and wherein the ranking ranks each payment method in the set of recommended payment methods in accordance with the incentives or rewards available for using each payment method in the set of recommended payment methods.

16. The computer program product of claim 13, wherein the set of payment methods is a set of credit cards.

17. A system for recommending a payment method in a transaction, the system comprising:

a user profiler, wherein the user profiler generates a user profile based on user information, and wherein the user information is associated with a user;

an incentive policy database, wherein the incentive policy database receives data regarding incentives available for using a set of payment methods to form incentive policy data;

a transaction parameter identifier, wherein the transaction parameter identifier identifies a set of parameters associated with the transaction; and

a recommendation engine, wherein the recommendation engine generates a set of recommended payment methods in the set of payment methods using the user profile, the incentive policy data, and the set of parameters to form a recommendation, wherein the set of recommended payment methods are recommended to complete the transaction.

18. The system of claim 17, wherein the recommendation engine provides the recommendation to the user.

19. The system of claim 17, wherein the set of payment methods is a set of credit cards.