METHODS AND SYSTEMS FOR APPROVAL OF CREDIT

• US 20150228017A1
• Filed: 02/09/2015
• Published: 08/13/2015
• Est. Priority Date: 02/12/2014
• Status: Abandoned Application

• Current Assignee: Fuel Signal
• Original Assignee: Fuel Signal
• Inventors: Moledina, Ahmed, Momin, Zulfiqar N.
• Application Number:
  US14/617,382
• Publication Number:
  US 20150228017A1
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

Embodiments disclosed herein provide systems and methods for approving financial credit to purchase goods and/or services carried by a gas retailer. In embodiments, the approval of financial credit may be triggered responsive to an initiator action associated with a fuel level in a vehicle being triggered.

Claims

1. A system for approving a financial transaction at a gas retailer, the system comprising:

a vehicle metric processing device configured to receive metrics associated with a vehicle and determine an initiator triggering event, the metrics including a current level of fuel within the vehicle and a maximum level of fuel for the vehicle;

a distance processing device configured to determine an amount of fuel required for the vehicle to arrive at the gas retailer;

a fuel price module configured to determine a price for a transaction at the gas retailer, the price for the transaction being based on the current level of fuel within the vehicle, the maximum level of fuel for the vehicle, the amount of fuel required for the vehicle to arrive at the gas retailer, and a fuel price at the gas retailer;

a bidding processing device configured to receive bids for the price of the transaction at the gas retailer from at least one financial institution; and

a prepay processing device configured to select a bid for the price of the transaction to complete the transaction, wherein the financial institution associated with the selected bid completes the transaction.

2. The system of claim 1, wherein the selected bid being includes a lowest percentage associated with the price for the transaction.

3. The system of claim 1, further including:

a plurality of methods of payments associated with a user of the vehicle, each of the plurality of methods of payments being linked to a financial institution, wherein the bids are received from the financial institutions associated with the methods of payments.

4. The system of claim 1, wherein when a first financial institution sets a first bid associated with a first gas retailer and a second bid associated with a second gas retailer, wherein the first financial institution is associated with the first gas retailer.

5. The system of claim 4, wherein the first bid is a lower percentage than the second bid.

6. The system of claim 1, wherein the bid is selected before the vehicle arrives at the gas retailer.

7. The system of claim 1, wherein the bids are received responsive to the triggering event, the triggering event being associated with when a current level of fuel within the vehicle is below a fuel threshold.

8. The system of claim 1, wherein a coupon is communicated to the user, an amount of the coupon is based on the selected bid and the price of the transaction.

9. The system of claim 8, wherein when the percentage associated with the selected bid is lowered and the price of the transaction is increased, the amount of the coupon increases.

10. The system of claim 1, further including:

a profile processing device configured to store a profile, the profile including methods of payments linked to different financial institutions, preselected fuel types, and preselected gas retailers.

11. A method for approving a financial transaction at a gas retailer, the system comprising:

receiving, at a vehicle metric processing device over a network, metrics associated with a vehicle, the metrics including a current level of fuel within the vehicle and a maximum level of fuel for the vehicle;

determining an triggering event;

determining an amount of fuel required for the vehicle to arrive at the gas retailer;

determining a price for a transaction at the gas retailer, the price for the transaction being based on the current level of fuel within the vehicle, the maximum level of fuel for the vehicle, the amount of fuel required for the vehicle to arrive at the gas retailer, and a fuel price at the gas retailer;

receiving, over the network, at least one bid for the price of the transaction at the gas retailer from at least one financial institution

selecting a bid for the price of the transaction to complete the transaction, wherein the financial institution associated with the selected bid completes the transaction.

12. The method of claim 11, wherein the selected bid includes a lowest percentage associated with the price for the transaction.

13. The method of claim 11, further including:

determining a plurality of methods of payments associated with a user of the vehicle, each of the plurality of methods of payments being linked to a financial institution, wherein the bids are received from the financial institutions associated with the methods of payments.

14. The method of claim 11, further including:

receiving a first bid from a first financial institution, the first being associated with a first gas retailer;

receiving a second bid from the first financial institution, the second being associated with a second gas retailer, wherein the first financial institution is associated with the first gas retailer.

15. The method of claim 14, wherein the first bid is a lower percentage than the second bid.

16. The method of claim 11, wherein the bid is selected before the vehicle arrives at the gas retailer.

17. The method of claim 11, wherein the bids are received responsive to the triggering event, the triggering event being associated with when a current level of fuel within the vehicle is below a fuel threshold.

18. The method of claim 11, further including:

communicating a coupon to the user, an amount of the coupon is based on the selected bid and the price of the transaction.

19. The system of claim 18, wherein when the percentage associated with the selected bid is lowered and the price of the transaction is increased, the amount of the coupon increases.

20. The method of claim 11, further including:

storing a profile, the profile including methods of payments linked to different financial institutions, preselected fuel types, and preselected gas retailers.