Methods and systems for managing consumer savings with credit card transactions

• US 9,824,393 B2
• Filed: 12/27/2013
• Issued: 11/21/2017
• Est. Priority Date: 12/27/2013
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Joseph, Gausper
• Primary Examiner(s): Frenel, Vanel
• Application Number:
  US14/142,395
• Publication Number:
  US 20150186990A1
• Time in Patent Office: 1,425 Days
• Field of Search: 705 16, 705 39, 705 40, 705 38, 705 35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

In one aspect, a computer-implemented method for managing consumer savings initiated from a payment card transaction is included. The payment card transaction involves a cardholder and a payment card of the cardholder. The method uses a computer device in communication with an issuing bank. The computer device includes a memory. The method includes receiving, by the computer device, transaction data associated with the payment card transaction. The transaction data separately identifies a payment amount and a savings amount. The savings amount is an amount the cardholder selects to save. The method also includes identifying, by the computer device, a savings account number associated with the cardholder. The method further includes transmitting the savings amount and the savings account number to the issuing bank for recording as a savings accrual for the cardholder. The issuing bank is the issuer of the payment card.

Claims

1. A computer-implemented method for managing consumer savings initiated from a payment card transaction for a purchase made by a cardholder at a merchant point of sale (POS) device using a payment card associated with a payment card account, the method using a savings management computer device in communication with an issuing bank, the savings management computer device in communication with a memory device, said method comprising:

receiving, by the savings management computer device from a payment processing network, a transaction data message associated with the payment card transaction initiated by the cardholder at the POS device, the transaction data message generated by the POS device and including a transaction amount, a purchase amount having a corresponding purchase code, and a savings amount having a corresponding savings code, the transaction amount equaling the purchase amount and the savings amount;

identifying, by the savings management computer device, the savings amount from the transaction data message generated by the POS device, the savings amount being entered by the cardholder at the POS device;

querying the memory device, by the savings management computer device, for a savings account number associated with the cardholder using the transaction data message;

determining, by the savings management computer device, that a savings account is not associated with the payment card account;

electronically generating, by the savings management computer device, a savings account number by one of (i) selecting an account number from a predefined pool of account numbers and (ii) generating an account number using a predefined format;

generating an account creation request message by the savings management computer device, the account creation request message including the generated savings account number, the account creation request message configured to cause the issuing bank computing device to create a savings account at the issuing bank with the savings account number assigned thereto; and

transmitting the account creation request message and the savings amount to the issuing bank for creating the savings account and recording as a savings accrual for the cardholder the savings amount within the savings account, wherein the issuing bank is the issuer of the payment card.

2. The method of claim 1, wherein receiving the transaction data message further comprises receiving the transaction data message from a source device that includes at least one of a point of interaction computing device and a merchant bank computing device, wherein the source device prompts the cardholder to input the savings amount.

3. The method of claim 1 further comprising:

recording, in the memory device, the savings amount as a savings accrual for the cardholder;

generating a total savings amount from a plurality of savings amounts; and

transmitting the total savings amount to the issuing bank.

4. The method of claim 1, wherein receiving the transaction data message further comprises receiving the transaction data message from a merchant bank, wherein the transaction data message further includes a first code associated with the purchase amount and a second code associated with the savings amount, wherein the first code is different than the second code.

5. The method of claim 1 further comprising:

determining that the payment card does not have an associated savings account at the issuing bank; and

transmitting an account creation request to the issuing bank on behalf of the cardholder, the account creation request results in the creation of the associated savings account at the issuing bank.

6. The method of claim 1, further comprising:

computing, by the savings management computer device, a savings amount in excess of the purchase amount using at least one of (i) a predefined savings amount configured by the cardholder, (ii) a predefined percentage of the purchase amount configured by the cardholder, wherein the payment processing network includes at least a payment processor and the point of sale (POS) device, wherein receiving the transaction data message associated with the payment card transaction further comprises determining that the cardholder has inputted the savings amount at the POS device at the time of the payment card transaction in lieu of applying the predefined savings amount or the predefined percentage of the savings amount, and (iii) a one-time savings amount entered at the POS device by the cardholder.

7. The method of claim 1, further comprising:

causing the savings amount to bypass payment authorization processing; and

transmitting the savings amount to the issuing bank for accrual on behalf of the cardholder.

8. A savings management computer device for managing consumer savings initiated from a payment card transaction for a purchase made by a cardholder at a merchant point of sale (POS) device using a payment card associated with a payment card account, said savings management computer device comprising a processor communicatively coupled to a memory device, said savings management computer device in communication with an issuing bank, said savings management computer device programmed to:

receive, from a payment processing network, a transaction data message associated with the payment card transaction initiated by the cardholder at the POS device, the transaction data message including a transaction amount generated by the POS device and including a transaction amount, a purchase amount having a corresponding purchase code, and a savings amount having a corresponding savings code, the transaction amount equaling the purchase amount and the savings amount;

identify the savings amount from the transaction data message generated by the POS device, the savings amount being entered by the cardholder at the POS device;

query the memory device for a savings account number associated with the cardholder using the transaction data message;

determine that a savings account is not associated with the payment card account;

electronically generate a savings account number by one of (i) selecting an account number from a predefined pool of account numbers and (ii) generating an account number using a predefined format;

generate an account creation request message by the savings management computer device, the account creation request message including the generated savings account number, the account creation request message configured to cause the issuing bank computing device to create a savings account at the issuing bank with the savings account number assigned thereto; and

transmit the account creation request message and the savings amount to the issuing bank for creating the savings account and recording as a savings accrual for the cardholder the savings amount within the savings account, wherein the issuing bank is the issuer of the payment card.

9. The computing device of claim 8, wherein receiving the transaction data message further comprises receiving the transaction data message from a source device that includes at least one of a point of interaction computing device and a merchant bank computing device, wherein the source device prompts the cardholder to input the savings amount.

10. The computing device of claim 8, wherein the computing device is further programmed to:

record, in the memory device, the savings amount as a savings accrual for the cardholder;

generate a total savings amount from a plurality of savings amounts; and

transmit the total savings amount to the issuing bank.

11. The computing device of claim 8, wherein receiving the transaction data message further comprises receiving the transaction data message from a merchant bank, wherein the transaction data message further includes a first code associated with the purchase amount and a second code associated with the savings amount, wherein the first code is different than the second code.

12. The computing device of claim 8, wherein the computing device is further programmed to:

determine that the payment card does not have an associated savings account at the issuing bank; and

transmit an account creation request to the issuing bank on behalf of the cardholder, the account creation request results in the creation of the associated savings account at the issuing bank.

13. The computing device of claim 8, wherein the computing device is further programmed to compute a savings amount in excess of the purchase amount using at least one of (i) a predefined savings amount configured by the cardholder, (ii) a predefined percentage of the purchase amount configured by the cardholder, and wherein the payment processing network includes at least a payment processor and the point of sale (POS) device, wherein receiving the transaction data message associated with the payment card transaction further comprises determining that the cardholder has inputted the savings amount at the POS device at the time of the payment card transaction in lieu of applying the predefined savings amount or the predefined percentage of the savings amount, and (iii) a one-time savings amount entered at the POS device by the cardholder.

14. The computing device of claim 8, wherein the computing device is further programmed to:

cause the savings amount to bypass payment authorization processing; and

transmit the savings amount to the issuing bank for accrual on behalf of the cardholder.

15. At least one non-transitory computer-readable storage media having computer-executable instructions embodied thereon, wherein when executed by at least one processor, the computer-executable instructions cause the processor to:

receive a transaction data message associated with the payment card transaction initiated by the cardholder at the POS device, the transaction data message including a transaction amount generated by the POS device and including a transaction amount, a purchase amount having a corresponding purchase code, and a savings amount having a corresponding savings code, the transaction amount equaling the purchase amount and the savings amount;

identify the savings amount from the transaction data message generated by the POS device, the savings amount being entered by the cardholder at the POS device;

query the memory device for a savings account number associated with the cardholder using the transaction data message;

determine that a savings account is not associated with the payment card account;

electronically generate a savings account number by one of (i) selecting an account number from a predefined pool of account numbers and (ii) generating an account number using a predefined format;

generate an account creation request message by the savings management computer device, the account creation request message including the generated savings account number, the account creation request message configured to cause the issuing bank computing device to create a savings account at the issuing bank with the savings account number assigned thereto; and

transmit the account creation request message and the savings amount to the issuing bank for creating the savings account and recording as a savings accrual for the cardholder the savings amount within the savings account, wherein the issuing bank is the issuer of the payment card.

16. The computer-readable storage media of claim 15, wherein receiving the transaction data message further comprises receiving the transaction data message from a source device that includes at least one of a point of interaction computing device and a merchant bank computing device, wherein the source device prompts the cardholder to input the savings amount.

17. The computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the processor to:

record, in the memory device, the savings amount as a savings accrual for the cardholder;

generate a total savings amount from a plurality of savings amounts; and

transmit the total savings amount to the issuing bank.

18. The computer-readable storage media of claim 15, wherein receiving the transaction data message further comprises receiving the transaction data message from a merchant bank, wherein the transaction data message further includes a first code associated with the purchase amount and a second code associated with the savings amount, wherein the first code is different than the second code.

19. The computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the processor to:

determine that the payment card does not have an associated savings account at the issuing bank; and

transmit an account creation request to the issuing bank on behalf of the cardholder, the account creation request results in the creation of the associated savings account at the issuing bank.

20. The computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the processor to compute a savings amount in excess of the purchase amount using at least one of (i) a predefined savings amount configured by the cardholder, (ii) a predefined percentage of the purchase amount configured by the cardholder, and wherein the payment processing network includes at least a payment processor and the point of sale (POS) device, wherein receiving the transaction data message associated with the payment card transaction further comprises determining that the cardholder has inputted the savings amount at the POS device at the time of the payment card transaction in lieu of applying the predefined savings amount or the predefined percentage of the savings amount, and (iii) a one-time savings amount entered at the POS device by the cardholder.

21. The computer-readable storage media of claim 15, wherein the computer-executable instructions further cause the processor to:

cause the savings amount to bypass payment authorization processing; and

transmit the savings amount to the issuing bank for accrual on behalf of the cardholder.