Methods and apparatus for use in association with payment card accounts

• US 20080215470A1
• Filed: 03/02/2007
• Published: 09/04/2008
• Est. Priority Date: 03/02/2007
• Status: Abandoned Application

• Current Assignee: General Electric Capital Corporation (General Electric Company)
• Original Assignee: General Electric Capital Corporation (General Electric Company)
• Inventors: Shen, Fuchu, Sengupta, Sabyaschi
• Application Number:
  US11/713,223
• Publication Number:
  US 20080215470A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

In one aspect, a method includes: receiving data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business; providing data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic; determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the lo plurality of possible payment card accounts; and selecting one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.

Claims

1. A method comprising:

receiving data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business;

providing data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic;

determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts; and

selecting one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.

2. The method of claim 1 wherein each of the plurality of estimates comprises an estimate indicative of sales that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts.

3. The method of claim 2 wherein selecting one of the plurality of possible payment card accounts comprises:

identifying one of the plurality of estimates of sales that has a greatest magnitude;

selecting a possible payment card account associated with the estimate that has the greatest magnitude.

4. The method of claim 1 further comprising offering a payment card account to the customer, the payment card account having the at least one characteristic of the selected one of the plurality of possible payment card accounts.

5. The method of claim 1 further comprising establishing a payment card account for the customer, the payment card account having the at least one characteristic of the selected one of the plurality of possible payment card accounts.

6. The method of claim 1 further comprising changing a payment card account of the customer to have the at least one characteristic of the selected one of the plurality of possible payment card accounts.

7. The method of claim 1 further comprising:

providing data indicative of a plurality of types of communication;

selecting at least one of the plurality of types of communication;

informing the customer of the selected one of the plurality of possible payment card accounts using the at least one selected type of communication.

8. The method of claim 1 wherein at least one of the plurality of possible payment card accounts comprises a possible private label credit card account, a possible dual card account or a possible co-brand credit card account.

9. The method of claim 1 wherein the at least one characteristic of the selected one of the plurality of possible payment card accounts comprises:

a credit limit; and

an interest rate.

10. The method of claim 1 wherein determining a plurality of estimates comprises:

providing at least one model based at least in part on historical data for a plurality of accounts of a plurality of customers; and

determining the plurality of estimates using the at least one model.

11. The method of claim 1 wherein determining a plurality of estimates comprises:

classifying the customer based at least in part on criteria defining a plurality of classifications;

providing a plurality of models, each associated with a respective one of the plurality of classifications; and

and determining the plurality of estimates using a model of the plurality of models that is associated with the classification of the customer.

12. The method of claim 1 further comprising determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the financial institution if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts.

13. The method of claim 12 wherein each of the plurality of estimates indicative of a financial metric that would be realized by the financial institution if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts comprises:

an estimate indicative of profit that would be realized by the financial institution if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts.

14. The method of claim 13 wherein selecting one of the plurality of possible payment card accounts comprises not selecting a possible payment card account associated with an estimate of profit that has a greatest magnitude among the plurality of estimates of profit.

15. The method of claim 13 wherein selecting one of the plurality of possible payment card accounts comprises selecting a possible payment card account associated with an estimate of profit that has a magnitude less than or equal to zero.

16. The method of claim 12 wherein each of the plurality of estimates indicative of a financial metric that would be realized by the financial institution if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts comprises:

an estimate indicative of loss that would be realized by the financial institution if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts.

17. The method of claim 16 wherein selecting one of the plurality of possible payment card accounts comprises not selecting a possible payment card account associated with an estimate of loss that has a smallest magnitude among the plurality of estimates of loss.

18. The method of claim 16 wherein selecting one of the plurality of possible payment card accounts comprises selecting a possible payment card account associated with an estimate of loss that has a magnitude greater than zero.

19. An apparatus comprising:

a processing system to (1) receive data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business, (2) provide data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic, (3) determine a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts, and (4) select one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.

20. Apparatus comprising:

means for receiving data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business;

means for providing data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic;

means for determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts; and

means for selecting one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.

21. A computer program product comprising:

a storage medium having stored thereon instructions that if executed by a machine, result in the following;

receiving data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business;

providing data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic;

determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts; and

selecting one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.

22. A storage medium having stored thereon instructions that if executed by a machine, result in the following:

receiving data indicative of one or more characteristics of a customer having an existing or prospective relationship with a retail business;

providing data indicative of a plurality of possible payment card accounts that are available from a financial institution for customers of the retail business, each of the plurality of possible payment card accounts having at least one characteristic;

determining a plurality of estimates, each of the plurality of estimates being associated with a respective one of the plurality of possible payment card accounts and indicative of a financial metric that would be realized by the retail business if the customer had a payment card account having the at least one characteristic of the associated one of the plurality of possible payment card accounts; and

selecting one of the plurality of possible payment card accounts based at least in part on the estimate associated with the possible payment card account and on selection criteria that includes at least one criteria related to a financial metric of the retail business.