MOBILE WALLET PAYMENT VEHICLE PREFERENCES

• US 20120197691A1
• Filed: 01/31/2011
• Published: 08/02/2012
• Est. Priority Date: 01/31/2011
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Grigg, David M., Keller, Marc B.
• Application Number:
  US13/017,997
• Publication Number:
  US 20120197691A1
• Time in Patent Office: Days
• US Class Current: 705/14.1
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: H04L 67/306 User profiles
• CPC Class Codes: H04W 4/80 Services using short range communication, e.g. near-field communication [NFC], radio-frequency identification [RFID] or low energy communication

Abstract

In general, apparatuses, methods and computer program products for making contactless financial transactions utilizing a mobile wallet are disclosed. Particularly, a mobile wallet application is disclosed that utilizes, at least in part, user specific data to generate a payment vehicle recommendation for different transactions. The user specific data may include the active user profile, prior payment vehicle usage, user preferences for the type of transaction, user location, rewards programs associated with use of one or more payment vehicles, or the like, or combinations thereof.

Claims

1. A mobile device for making a financial transaction comprising:

a memory device;

a user interface configured to present information to a user;

a communication device;

a processing device operatively coupled to the memory device and the communication device; and

a mobile wallet application configured to;

display, via the user interface, a menu, the menu comprising options selectable to the user, the options comprising multiple payment vehicles;

generate a payment vehicle recommendation, the recommendation generated based, at least in part, on user specific data;

present the generated payment vehicle recommendation to the user;

receive input instructions from the user to transmit payment vehicle data to an external apparatus; and

transmit the payment vehicle data wirelessly to the external apparatus.

2. The mobile device of claim 1, wherein the mobile device is a mobile phone.

3. The mobile device of claim 1, wherein the payment vehicle recommendation is presented to the user in the form of an automatically selected payment vehicle or an ordered list of payment vehicles arranged with the highest recommended payment vehicle presented first or at the top of the list.

4. The mobile device of claim 1, wherein the payment vehicle recommendation is presented to the user in the form of a prompt to the user identifying the recommended payment vehicle and presenting information to the user relating to the reason the recommended payment vehicle was selected.

5. The mobile device of claim 1, wherein the user specific data comprises the active user profile, prior payment vehicle usage, user preferences for the type of transaction, user location, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

6. The mobile device of claim 5, wherein the user specific data comprises the active user profile.

7. The mobile device of claim 6, wherein the mobile device comprises more than one user profile and the generated payment vehicle recommendation may differ depending on the user, the recommendation generated based, at least in part, on the active user'"'"'s user specific data.

8. The mobile device of claim 7, wherein the mobile wallet application is further configured to generate financial planning data specific to one or more user profiles, the financial planning data comprising a spending summary over a user-defined time period.

9. The mobile device of claim 5, wherein the user specific data comprises prior payment vehicle usage.

10. The mobile device of claim 9, wherein the mobile wallet application is further configured to record user transaction data in the memory device for some or all transactions, the user transaction data being utilized in the generation of payment vehicle recommendations for future transactions.

11. The mobile device of claim 5, wherein the user specific data comprises user preferences for the type of transaction.

12. The mobile device of claim 11, wherein the mobile wallet application is further configured to receive preference input from the user, the preference input comprising preferred payment vehicles for a plurality of types of transactions.

13. The mobile device of claim 12, wherein the types of transactions comprise grocery transactions, convenience/fuel transactions, restaurant transactions, or combinations thereof.

14. The mobile device of claim 5, wherein the user specific data comprises the user location.

15. The mobile device of claim 14, wherein the user location is determined by a global positioning system (GPS).

16. The mobile device of claim 15, wherein the mobile wallet application is further configured to record user location data in the memory device for some or all transactions, the user location data being utilized in the generation of payment vehicle recommendations for future transactions.

17. The mobile device of claim 14, wherein the user location is determined by wireless communication between the mobile device and an external device, the external device communicating user location data to the mobile device.

18. The mobile device of claim 5, wherein the user specific data comprises rewards programs associated with use of one or more payment vehicles.

19. The mobile device of claim 1, wherein the external apparatus is a terminal configured for contactless transactions.

20. The mobile device of claim 1, wherein the mobile device is configured to be capable of near field communication (NFC).

21. The mobile device of claim 1, wherein the external apparatus is a contactless payment terminal.

22. A method for making a financial transaction comprising:

executing, on a mobile device comprising a memory device, a user interface, a communication device, and a processing device, a mobile wallet application, the mobile wallet application comprising a menu of options selectable to a user, the options comprising multiple payment vehicles;

generating a payment vehicle recommendation, the recommendation generated based, at least in part, on user specific data; and

transmitting payment vehicle data wirelessly to an external apparatus.

23. The method of claim 22, wherein the mobile device is a mobile phone.

24. The method of claim 22, wherein the payment vehicle recommendation is presented to the user, via the user interface, in the form of an automatically selected payment vehicle or an ordered list of payment vehicles arranged with the highest recommended payment vehicle presented first or at the top of the list.

25. The method of claim 22, wherein the payment vehicle recommendation is presented to the user, via the user interface, in the form of a prompt to the user identifying the recommended payment vehicle and presenting information to the user relating to the reason the recommended payment vehicle was selected.

26. The method of claim 22, wherein the user specific data comprises the active user profile, prior payment vehicle usage, user preferences for the type of transaction, user location, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

27. The method of claim 26, wherein the user specific data comprises the active user profile.

28. The method of claim 27, wherein the mobile device comprises more than one user profile and the generated payment vehicle recommendation may differ depending on the user, the recommendation generated based, at least in part, on the active user'"'"'s user specific data.

29. The method of claim 28, further comprising generating financial planning data specific to one or more user profiles, the financial planning data comprising a spending summary over a user-defined time period.

30. The method of claim 26, wherein the user specific data comprises prior payment vehicle usage.

31. The method of claim 30, further comprising recording user transaction data in the memory device for some or all transactions, the user transaction data being utilized in the generation of payment vehicle recommendations for future transactions.

32. The method of claim 26, wherein the user specific data comprises user preferences for the type of transaction.

33. The method of claim 32, further comprising inputting user preference information into the mobile device, the user preference information comprising preferred payment vehicles for a plurality of types of transactions.

34. The method of claim 33, wherein the types of transactions comprise grocery transactions, convenience/fuel transactions, restaurant transactions, or combinations thereof.

35. The method of claim 26, wherein the user specific data comprises the user location.

36. The method of claim 35, wherein the user location is determined by a global positioning system (GPS).

37. The method of claim 36, further comprising recording user location data in the memory device for some or all transactions, the user location data being utilized in the generation of payment vehicle recommendations for future transactions.

38. The method of claim 35, wherein the user location is determined by wireless communication between the mobile device and an external device, the external device communicating user location data to the mobile device.

39. The method of claim 26, wherein the user specific data comprises rewards programs associated with use of one or more payment vehicles.

40. The method of claim 22, wherein the external apparatus is a terminal configured for contactless transactions.

41. The method of claim 22, wherein the mobile device is configured to be capable of near field communication (NFC).

42. The method of claim 22, wherein the external apparatus is a contactless payment terminal.

43. A computer program product for making a financial transaction via a mobile device, the computer program product comprising a non-transitory computer-readable medium comprising computer program code instructions for:

executing, on a mobile device, a mobile wallet application configured to present a menu of options selectable to a user, the options comprising multiple payment vehicles;

generating a payment vehicle recommendation, the recommendation being generated based, at least in part, on user specific data;

presenting the generated payment vehicle recommendation to the user; and

transmitting payment vehicle data wirelessly from the mobile device to an external apparatus.

44. The computer program product of claim 43, wherein the mobile device is a mobile phone.

45. The computer program product of claim 43, wherein the payment vehicle recommendation to the user is presented in the form of an automatically selected payment vehicle or an ordered list of payment vehicles arranged with the highest recommended payment vehicle presented first or at the top of the list.

46. The computer program product of claim 43, wherein the payment vehicle recommendation to the user is presented in the form of a prompt to the user identifying the recommended payment vehicle and presenting information to the user relating to the reason the recommended payment vehicle was selected.

47. The computer program product of claim 43, wherein the user specific data comprises the active user profile, prior payment vehicle usage, user preferences for the type of transaction, user location, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

48. The computer program product of claim 47, wherein the user specific data comprises the active user profile.

49. The computer program product of claim 48, wherein the payment vehicle recommendation is generated for more than one user profile within the mobile device, wherein the payment vehicle recommendation may differ depending on the user, the recommendation generated based, at least in part, on the active user'"'"'s user specific data.

50. The computer program product of claim 49, wherein the computer-readable medium further comprises computer program code instructions for generating financial planning data specific to one or more user profiles, the financial planning data comprising a spending summary over a user-defined time period.

51. The computer program product of claim 47, wherein the user specific data comprises prior payment vehicle usage.

52. The computer program product of claim 51, wherein the computer-readable medium further comprises computer program code instructions for recording user transaction data in a memory device for some or all transactions, the user transaction data being utilized in the generation of payment vehicle recommendations for future transactions.

53. The computer program product of claim 47, wherein the user specific data comprises user preferences for the type of transaction.

54. The computer program product of claim 53, wherein the computer-readable medium further comprises computer program code instructions for receiving user preference input, the user preference input comprising preferred payment vehicles for a plurality of types of transactions.

55. The computer program product of claim 54, wherein the types of transactions comprise grocery transactions, convenience/fuel transactions, restaurant transactions, or combinations thereof.

56. The computer program product of claim 47, wherein the user specific data comprises the user location.

57. The computer program product of claim 56, wherein the user location is determined by a global positioning system (GPS).

58. The computer program product of claim 57, wherein the computer-readable medium further comprises computer program code instructions for recording user location data in a memory device for some or all transactions, the user location data being utilized in the generation of payment vehicle recommendations for future transactions.

59. The computer program product of claim 56, wherein the user location is determined by wireless communication between the mobile device and an external device, the external device communicating user location data to the mobile device.

60. The computer program product of claim 47, wherein the user specific data comprises rewards programs associated with use of one or more payment vehicles.

61. The computer program product of claim 43, wherein the external apparatus is a terminal configured for contactless transactions.

62. The computer program product of claim 43, wherein the mobile device is configured to be capable of near field communication (NFC).

63. The computer program product of claim 43, wherein the external apparatus is a contactless payment terminal.