Method and system for offering a credit product by a credit issuer to a consumer at a point-of-sale

• US 9,412,132 B2
• Filed: 04/04/2014
• Issued: 08/09/2016
• Est. Priority Date: 01/09/2007
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Inventors: Keithley, Thomas H.
• Primary Examiner(s): Chang, Edward
• Application Number:
  US14/245,964
• Publication Number:
  US 20140279118A1
• Time in Patent Office: 858 Days
• Field of Search: 705/14, 705/39, 705/35
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method for offering at least one credit product by at least one credit issuer to a consumer at a point-of-sale between a merchant and the consumer. The method includes the steps of: providing a credit issuer data set including a plurality of data fields to a central database; initiating a transaction between the consumer and the merchant at the point-of-sale; offering, to the consumer at the point-of-sale, the at least one credit product; and presenting, to the consumer at the point-of-sale, at least one data field in the credit issuer data set. The at least one data field presented to the consumer is populated with data directed to the credit product, the credit issuer, or any combination thereof. An apparatus and system are also disclosed.

Claims

1. A consumer device comprising:

a communication module configured to communicate with a central database and a merchant online location;

a non-transitory memory storing instructions;

a display; and

one or more hardware processors coupled to the non-transitory memory and configured to read the instructions from the non-transitory memory to cause the consumer device to perform operations comprising;

initiating, via the communication module, a transaction for a consumer on the consumer device at the merchant online location; and

presenting, using an interactive interface of the display, one or more credit products to the consumer on the consumer device at the merchant online location during the transaction, the one or more credit products being transmitted from the central database,

wherein the transmission of the one or more credit products causes the merchant online location, via the interactive interface, to present the one or more credit products without redirecting the consumer from the merchant online location to a third party site during the transaction to present the one or more credit products, receive an application from the consumer for at least one of the one or more credit products, and consummate the transaction.

2. The consumer device of claim 1, wherein the operations further comprise:

receiving a selected credit product from among the one or more credit products for the application, via the interactive interface;

transmitting, via the communication module, the application identifying the selected credit product to the merchant for transmission to a credit issuer of the selected credit product; and

receiving, via the communication module from the merchant, acknowledgment that the application was successful and that the transaction has been processed using the selected credit product.

3. The consumer device of claim 1, wherein a credit issuer is allowed to maintain control over data related to the one or more credit products while allowing the merchant to retain the interaction with the consumer.

4. The consumer device of claim 1, wherein the display displays pre-population of consumer data during the application for the one or more credit products of a consumer-credit issuer transaction.

5. The consumer device of claim 1, wherein the communication module is configured to receive a credit issuer data set comprising multiple data fields from the merchant while at the point of sale website of the merchant during the transaction.

6. The consumer device of claim 5, wherein the display presents the multiple data fields to the consumer at the merchant online location during the transaction, wherein the multiple data fields are populated with data directed to at least one of the one or more credit products and a credit issuer.

7. The consumer device of claim 5, wherein the display presents information including the multiple data fields to the consumer via the interactive interface on the consumer device.

8. The consumer device of claim 5, wherein the communication module is further configured to receive an updated credit issuer data set, the updated credit issuer data set being sent from at least one credit issuer is received to the central database for release to the merchant and eventually the consumer.

9. The consumer device of claim 1, wherein the operations further comprise processing consumer inputs received via the interactive interface.

10. The consumer device of claim 1, wherein the display displays a credit issuer data set comprising multiple data fields, wherein the data fields are populated with data reflecting one or more offers for the one or more credit products to the consumer.

11. The consumer device of claim 1, wherein the display presents result data to the consumer, wherein the result data further comprises an indication of success of establishment of the one or more credit products, or an indication that the one or more credit products has been activated and has been used in connection with the transaction.

12. The consumer device of claim 1, wherein the consumer, the merchant, or one or more credit issuers are verified or authenticated.

13. The consumer device of claim 1, wherein the operations further comprise at least one of:

transmitting authentication information, via the communication module to the merchant for transmission to the central database, and receiving confirmation of consumer authentication; and

transmitting consumer verification information, via the communication module to the merchant for transmission to the central database, and receiving verification of the consumer based on the transmitted verification information.

14. A method comprising:

receiving, by a processor of a central system, a transaction request for a transaction from a merchant online location for a consumer at a consumer device accessing the merchant online location;

accessing by the processor, one or more credit products available for presentation to consumers;

transmitting, by the processor, the one or more credit products to the merchant online location for presentation to the consumer via the accessing consumer device during the transaction,

wherein transmission of the one or more credit products causes the merchant online location to present the one or more credit products to the consumer from the merchant online location via the accessing consumer device and receive consumer input in response to the presenting without redirecting the consumer from the merchant online location to a third party site during the transaction;

receiving, by the processor, the consumer input from the merchant online location in response to the merchant online location receiving the consumer input from the consumer; and

processing, by the processor, the consumer input comprising an application for at least one of the one or more credit products, and a remaining portion of the transaction, such that the merchant retains interaction with the consumer without redirecting the consumer to the third party site during the transaction.

15. The method of claim 14, further comprising processing the transaction using the one or more credit products.

16. The method of claim 14, further comprising allowing a credit issuer to maintain control over data related to the one or more credit products while allowing the merchant to retain the interaction with the consumer.

17. The method of claim 14, further comprising allowing pre-population of consumer data during the application for the one or more credit products of a consumer-credit issuer transaction.

18. The method of claim 14, further comprising presenting multiple data fields to the consumer at the point of sale during the transaction, wherein the multiple data fields are populated with data directed to at least one of the one or more credit products and a credit issuer.

19. The method of claim 14, further comprising receiving an updated credit issuer data set from at least one credit issuer for release to the merchant and eventually the consumer.

20. A central system comprising:

a non-transitory memory storing a central database that communicates with a merchant'"'"'s point of sale, an interactive interface of a consumer device that accepts consumer input data, and at least one credit issuer server, wherein the central database is adapted to receive credit issuer data; and

one or more hardware processors coupled to the non-transitory memory storing the central database and configured to read instructions from the non-transitory memory to cause the system to perform operations comprising;

receiving, from the merchant'"'"'s point of sale, a transaction request for a transaction for a consumer accessing the merchant'"'"'s point of sale;

accessing, from the central database, one or more credit products based on the credit issuer data;

transmitting the one or more credit products to the merchant'"'"'s point of sale for presentation to the consumer at the merchant'"'"'s point of sale via the interactive interface during the transaction,

wherein the transmission of the one or more credit products causes the merchant'"'"'s point of sale to present the one or more credit products to the consumer from the merchant'"'"'s point of sale via the interactive interface of the consumer device and receive consumer input in response to the presenting without redirecting the consumer from the merchant'"'"'s point of sale to a third party site during the transaction; and

processing the consumer input comprising an application for at least one of the one or more credit products, and a remaining portion of the transaction, such that the merchant retains interaction with the consumer via the interactive interface without redirecting the consumer to the third party site during the transaction.