DETERMINING AN OPTIMAL PAYMENT INSTRUMENT BY A CLOUD-ENABLED MOBILE PAYMENT SERVICE
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United States of America Patent
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Issued Date -
Aug 4, 2016
app pub date -
Feb 4, 2015
filing date -
Feb 4, 2015
priority date (Note) -
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Abstract
An approach is provided for determining an optimal payment instrument. A computer in a system configured in one of four predetermined cloud-based models updates a database with details about account balances and rewards provided by a customer's multiple accounts specifying payment instruments. A request is received from a near field communication enabled mobile device to purchase an item from a retailer. The request includes identifications of the retailer and the item. Based on the identifications, details about the account balances and rewards are retrieved from the database. Based on the details about the account balances and rewards, rules are applied and the optimal payment instrument is determined. A display of the optimal payment instrument to the customer is initiated. The optimal payment instrument is selected and a payment for the item by the optimal payment instrument is initiated.
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