Patent ID: 8930270
Filing Date: 2015-01-06
Classification: G06Q,G07F

Abstract:
1. A computer-implemented method for automatically selecting a payment instrument in an online environment, comprising the steps of: notifying, by a user's Web browser, a merchant application of the user's desire to make a purchase transaction for an offered product or service, said merchant application comprising a merchant's Web page; responsive to said notifying said merchant application, said merchant application sending information of said purchase transaction to a corresponding smart wallet application, said smart wallet application being capable of electronically receiving discount information and having a repository of stored information about one or more payment instruments, said stored information comprising number of and types of payment instruments of the user, discount and incentive information from manufacturers, discount and incentive information from financial instrument companies, types of payment instruments accepted by said merchant, and a predetermined priority with which to rank suggested payment instruments; responsive to receiving said purchase transaction information from said merchant application and using said stored information, said smart wallet application automatically processing said purchase transaction information to determine, rank based on said predetermined priority, and suggest at least one payment instrument from said one or more payment instruments, wherein said suggested at least one payment instrument provides a best value to said user; selecting a payment instrument from said suggested at least one payment instrument; and responsive to a determination that only the selected payment instrument provides a discount to said user, said smart wallet application suggesting bundling multiple purchases and suggesting charging said bundled multiple purchases to said selected payment instrument.