Method and system for dynamically adjusting discount rates for a card transaction
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United States of America Patent
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Apr 12, 2011
Grant Date -
Mar 18, 2010
app pub date -
Nov 23, 2009
filing date -
Aug 18, 2003
priority date (Note) -
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Abstract
According to one embodiment, the present invention relates to a method and a system for dynamically adjusting discount rates for a closed loop transaction. A computer implemented method for dynamically adjusting discount rates for a card transaction comprises the steps of identifying credit worthiness of at least one consumer; assigning a credit level to a line of credit associated with a credit product for the at least one consumer wherein the credit product is accepted at an identified one or more merchants; assigning a financing charge to the line of credit; determining a discount rate based at least in part on the credit worthiness of the at least one consumer; and applying the discount rate when at least one transaction is made with the credit product; wherein the applied discount rate is adjusted based on the credit worthiness of the at least one consumer.
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