SYSTEMS AND METHODS FOR DETERMINING CONSUMER PURCHASING BEHAVIOR
First Claim
1. A system for determining the purchasing behavior of a customer, comprising:
- a memory storing instructions; and
a processor configured to execute the instructions to;
receive first transaction information relating to a first purchase transaction made by a user using an account provided by a financial service provider;
identify a first merchant associated with the first purchase transaction based on the received first transaction information;
receive second transaction information relating to at least one additional purchase transaction made by the user using the financial service account;
identify at least one other merchant associated with the at least one additional purchase transaction based on the received second transaction information;
generate a report for the first merchant based on the received second transaction information, wherein the report comprises;
a list of co-occurring merchants, andco-occurrence scores for each of the co-occurring merchants on the list; and
provide the report to the first merchant.
2 Assignments
0 Petitions
Accused Products
Abstract
Systems and methods are disclosed for analyzing and predicting spending behaviors of consumers. A financial service system configures a financial service account for a user associated with a merchant. The financial service system, after receiving notification of purchase transactions made by the user with the account, may collect information relating to the transactions. The financial service system may determine other merchants that “co-occur” with the first merchant—in other words, where else are the first merchant'"'"'s customers shopping and who are their true competitors? The financial service system may then compile this data and provide it to the merchant, who may modify their business practices based on the information.
27 Citations
20 Claims
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1. A system for determining the purchasing behavior of a customer, comprising:
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a memory storing instructions; and a processor configured to execute the instructions to; receive first transaction information relating to a first purchase transaction made by a user using an account provided by a financial service provider; identify a first merchant associated with the first purchase transaction based on the received first transaction information; receive second transaction information relating to at least one additional purchase transaction made by the user using the financial service account; identify at least one other merchant associated with the at least one additional purchase transaction based on the received second transaction information; generate a report for the first merchant based on the received second transaction information, wherein the report comprises; a list of co-occurring merchants, and co-occurrence scores for each of the co-occurring merchants on the list; and provide the report to the first merchant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for determining the purchasing behavior of a customer, comprising:
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receiving, via one or more processors, first transaction information relating to a first purchase transaction made by a user using an account provided by a financial service provider; identifying a first merchant associated with the first purchase transaction based on the received first transaction information; receiving, via the one or more processors, second transaction information relating to at least one additional purchase transaction made by the user using the financial service account; identifying at least one other merchant associated with the at least one additional purchase transaction based on the received second transaction information; generating, via the one or more processors, a report for the first merchant based on the received second transaction information, wherein the report comprises; a list of co-occurring merchants, and co-occurrence scores for each of the co-occurring merchants on the list; and providing the report to the first merchant. - View Dependent Claims (11, 12, 13, 14, 15)
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16. A method for determining the purchasing behavior of a customer, comprising:
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transmitting, via one or more processors, first transaction information to a financial service system relating to a first purchase made by a user using an account provided by the financial service system; receiving, via the one or more processors, information from the financial service system comprising the identity of at least one other merchant associated with at least one additional purchase transaction made by the user based on second transaction information; modifying one or more business practices based on the information received from the financial service system; and monitoring sales subsequent to the business practice modification. - View Dependent Claims (17, 18, 19, 20)
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Specification