MOBILE WALLET PAYMENT VEHICLE PREFERENCES

• US 20150081540A1
• Filed: 11/25/2014
• Published: 03/19/2015
• Est. Priority Date: 01/31/2011
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Grigg, David M., Keller, Marc B.
• Granted Patent: US 9,830,590 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• 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 purchase, the mobile device comprising:

a memory device;

a positioning system 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;

determine a location of the user making a current purchase using the positioning system device;

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

generate a payment vehicle recommendation, the recommendation generated based, at least in part, on prior payment vehicle usage by the user to make a prior purchase at the location at a previous time to the current purchase;

present the generated payment vehicle recommendation to the user, wherein the payment vehicle recommendation is presented to the user in the form of a prompt to the user identifying the recommended payment vehicle;

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 to complete the purchase.

2. The mobile device of claim 1, wherein user specific data for the mobile device comprises an active user profile, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

3. The mobile device of claim 1, wherein the mobile wallet application is further configured to:

determine more than one user profile for the mobile device;

determine an active user of the mobile device selected from the more than one user profile; and

generate the payment vehicle recommendation based on prior payment vehicle usage by the active user to make a prior purchase at the location at a previous time to the current purchase.

4. The mobile device of claim 3, wherein the mobile wallet application is further configured to generate a spending summary over a user-defined time period for the active user.

5. The mobile device of claim 1, 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.

6. The mobile device of claim 5, 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.

7. The mobile device of claim 1, wherein the positioning system device determines the location by wireless communication between the mobile device and an external device, the external device communicating user location data to the mobile device.

8. A method for making a purchase, the method 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 by a user, the options comprising multiple payment vehicles;

determining a location of the user making a current purchase using a positioning system device;

generating a payment vehicle recommendation, the recommendation generated based, at least in part, on prior payment vehicle usage by the user to make a prior purchase at the location at a previous time to the current purchase, 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

transmitting payment vehicle data wirelessly to an external apparatus to complete the purchase.

9. The method of claim 8, wherein user specific data for the mobile device comprises an active user profile, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

10. The method of claim 8, wherein the method further comprises

determining more than one user profile for the mobile device;

determining an active user of the mobile device selected from the more than one user profile; and

generating the payment vehicle recommendation based on prior payment vehicle usage by the active user to make a prior purchase at the location at a previous time to the current purchase.

11. The method of claim 10, further comprising generating a spending summary over a user-defined time period for the active user.

12. The method of claim 8, 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.

13. The method of claim 8, 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.

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

determining a location of the user making a current purchase using a positioning system device;

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

generating a payment vehicle recommendation, the recommendation being generated based, at least in part, on prior payment vehicle usage by the user to make a prior purchase at the location at a previous time to the current purchase;

presenting the generated payment vehicle recommendation to the user, 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

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

15. The computer program product of claim 14, wherein user specific data for the mobile device comprises an active user profile, rewards programs associated with use of one or more payment vehicles, or combinations thereof.

16. The computer program product of claim 14, wherein the non-transitory computer-readable medium further comprises computer program code instructions for:

determining more than one user profile for the mobile device;

determining an active user of the mobile device selected from the more than one user profile; and

generating the payment vehicle recommendation based on prior payment vehicle usage by the active user to make a prior purchase at the location at a previous time to the current purchase.

17. The computer program product of claim 16, wherein the computer-readable medium further comprises computer program code instructions for generating a spending summary over a user-defined time period for the active user.

18. The computer program product of claim 16, 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.

19. The computer program product of claim 16, 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.

20. The computer program product of claim 16, wherein the positioning system device determines the location by wireless communication between the mobile device and an external device, the external device communicating user location data to the mobile device.