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

• US 9,684,931 B2
• Filed: 08/08/2016
• Issued: 06/20/2017
• 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:
  US15/231,203
• Publication Number:
  US 20160350852A1
• Time in Patent Office: 316 Days
• Field of Search: 705 39, 705 35
• 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 computer system, comprising:

a non-transitory memory; and

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

in response to receiving information associated with a third-party credit product, updating a central database to include the information;

in response to the updating;

providing an online merchant site with access, via a secure network, to the information in the central database associated with the third-party credit product, wherein the central database is maintained separate from the online merchant site and one or more servers associated with the third-party, and wherein the online merchant site does not have access to the one or more servers; and

causing the third-party credit product to be presented to a user via a user device involved in a transaction associated with the online merchant site without redirecting the user device away from the online merchant site;

receiving a response indicating whether the third-party credit product has been selected; and

processing the response and a remaining portion of the transaction without redirecting the user device away from the online merchant site.

2. The computer system of claim 1, wherein the operations further comprise:

providing the third party with control over data related to the third-party credit product while providing the online merchant site with control to retain interaction at the online merchant site with the user during the transaction.

3. The computer system of claim 1, wherein the providing an online merchant site with access to the information is in response to receiving, from the online merchant site, a request for the transaction.

4. The computer system of claim 1, wherein the operations further comprise:

receiving, from the one or more servers, updated data relating to one or more aspects of the third-party credit product; and

updating a record in a central database maintained by the computer system for the third-party credit product.

5. The computer system of claim 4, wherein the operations further comprise:

transmitting the updated record to a merchant copy database maintained by the online merchant site; and

periodically updating third-party credit product data in the merchant copy database according to a specified schedule.

6. The computer system of claim 1, wherein the processing further comprises:

pre-populating user data into one or more fields of an application for the third-party credit product, wherein the user data is obtained from the transaction associated with the online merchant site; and

providing the pre-populated application to the online merchant site for presentation to the user via the user device.

7. The computer system of claim 6, wherein the operations further comprise:

receiving a completed application based on the pre-populated application after completion by the user via the user device; and

processing the completed application to approve or deny provision of the third-party credit product.

8. A method, comprising:

in response to receiving information associated with a third-party credit product, updating a central database to include the information;

in response to the updating;

providing an online merchant site with access, via a secure network, to the information in the central database associated with the third-party credit product, wherein the central database is maintained separate from the online merchant site and one or more servers associated with the third-party, and wherein the online merchant site does not have access to the one or more servers; and

causing the third-party credit product to be presented to a user via a computing device involved in a transaction associated with the online merchant site without redirecting the user device away from the online merchant site;

receiving a response indicating whether the third-party credit product has been selected; and

processing the response and a remaining portion of the transaction without redirecting user device away from the online merchant site.

9. The method of claim 8, further comprising:

pre-populating user data into one or more fields of an application for the third-party credit product, wherein the user data is obtained from the transaction associated with the online merchant site; and

providing the pre-populated application to the online merchant site for presentation to the user via the user device.

10. The method of claim 9, further comprising:

receiving a completed application based on the pre-populated application after completion by the user via the user device; and

processing the completed application to approve or deny provision of the third-party credit product.

11. The method of claim 8, further comprising:

receiving, from the one or more servers, updated data relating to one or more aspects of the third-party credit product; and

updating a record in a central database maintained by the computer system for the third-party credit product.

12. The method of claim 11, further comprising:

transmitting the updated record to a merchant copy database maintained by the online merchant site; and

periodically updating third-party credit product data in the merchant copy database according to a specified schedule.

13. The method of claim 12, wherein the providing an online merchant site with access to the information is in response to receiving, from the online merchant site, a request for the transaction.

14. The method of claim 8, further comprising providing the third party with control over data related to the third-party credit product while providing the online merchant site with control to retain interaction at the online merchant site with the user during the transaction.

15. A non-transitory machine-readable medium having stored thereon machine-readable instructions executable to cause a machine to perform operations comprising:

in response to receiving information associated with a third-party credit product, updating a central database to include the information;

in response to the updating;

providing an online merchant site with access, via a secure network, to the information in the central database associated with the third-party credit product, wherein the central database is maintained separate from the online merchant site and one or more servers associated with the third-party, and wherein the online merchant site does not have access to the one or more servers; and

causing the third-party credit product to be presented to a user via a user device involved in a transaction associated with the online merchant site without redirecting the user device away from the online merchant site;

receiving, from the online merchant site, a response indicating whether the third-party credit product has been selected; and

processing the response without redirecting the user device away from the online merchant site.

16. The non-transitory machine-readable medium of claim 15, wherein the operations further comprise:

allowing the third party to maintain control over data related to the third-party credit product while allowing the online merchant site to retain interaction at the online merchant site with the user during the transaction.

17. The non-transitory machine-readable medium of claim 15, wherein the operations further comprise:

pre-populating user data into one or more fields of an application for the third-party credit product, wherein the user data is obtained from the transaction associated with the online merchant site; and

providing the pre-populated application to the online merchant site for presentation to the user via the user device.

18. The non-transitory machine-readable medium of claim 17, wherein the operations further comprise:

receiving a completed application based on the pre-populated application after completion by the user via the user device; and

processing the completed application to approve or deny provision of the third-party credit product.

19. The non-transitory machine-readable medium of claim 18, wherein the processing the response and the remaining portion of the transaction further comprises:

processing the transaction using the third-party credit product.

20. The non-transitory machine-readable medium of claim 15, wherein the operations further comprise:

receiving, from the one or more servers, updated data relating to one or more aspects of the third-party credit product; and

updating a record in a central database maintained by the machine for the third-party credit product.