PREDICTING LOCATION BASED ON PAYMENT CARD USAGE
First Claim
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1. A system for predicting a present or future location of a cardholder who has made one or more payment card transactions, comprising:
- an electronic storage device having a database of the payment card transactions stored therein;
an access path for allowing access to data concerning the payment card transactions in the database, the data concerning the payment card transactions including when and where point of sale transactions have taken place; and
a processor for conducting a process to analyze the data concerning the payment card transactions, the processor being programmed with logic that provides a prediction of where the cardholder will be located at a present or a selected future time based on the payment card transactions.
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Abstract
A system and a method for predicting the location of a person using prior point of sale transaction data are disclosed. Historical purchase data is used to develop logic for predicting a present or future location at any given time of the cardholder. The logic can be tested against transaction data to qualify its accuracy. Statistical techniques are used to develop the logic with a sample of payment cardholders during an analytical phase. The logic can be applied to a broader universe of cardholders to ascertain a higher level of confidence that can be assigned to the prediction.
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Citations
20 Claims
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1. A system for predicting a present or future location of a cardholder who has made one or more payment card transactions, comprising:
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an electronic storage device having a database of the payment card transactions stored therein; an access path for allowing access to data concerning the payment card transactions in the database, the data concerning the payment card transactions including when and where point of sale transactions have taken place; and a processor for conducting a process to analyze the data concerning the payment card transactions, the processor being programmed with logic that provides a prediction of where the cardholder will be located at a present or a selected future time based on the payment card transactions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for predicting the present or future location of a cardholder who has made payment card transactions, comprising:
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storing in an electronic storage device having a database, data concerning the payment card transactions; accessing the data concerning the payment card transactions in the database, wherein the accessed data includes data of the time when point of sale transactions took place; and analyzing the accessed data with a processor in accordance with a programmed logic to predict the present or future location where the cardholder will be at the present or selected future time, respectively, based on the payment card transactions. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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20. A computer readable non-transitory storage medium storing instructions of a computer program which when executed by a computer system results in performance of steps of a method for predicting the location of a cardholder who has made payment card transactions, comprising:
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storing in an electronic storage device having a database with data concerning the transactions; accessing the data concerning the transactions in the database, the accessed data including data on when point of sale transactions have taken place; and analyzing the accessed data with a processor in accordance with a programmed logic to predict the present or future location of the cardholder at a selected time, wherein the selected time is the present time or any desired future time, based on the payment card transactions.
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Specification