DETERMINING AN OPTIMAL PAYMENT INSTRUMENT BY A CLOUD-ENABLED MOBILE PAYMENT SERVICE

摘要

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.

主权项

1. A method of determining an optimal payment instrument, the method comprising the steps of:
a cloud-based computer updating a database with details about funds available in multiple accounts of a customer and details about rewards provided by the multiple accounts of the customer, the accounts specifying respective payment instruments; the computer receiving a request from a near field communication enabled mobile device to purchase an item from a retailer, the request including an identification of the retailer and an identification of the item; based on the identifications of the retailer and the item, the computer retrieving the details about the funds and the rewards from the updated database; based on the retrieved details about the funds and the rewards provided by the multiple accounts specifying the payment instruments, the computer applying rules and in response to the step of applying the rules, the computer determining the optimal payment instrument from among the payment instruments; the computer initiating a display of the optimal payment instrument to the customer; and the computer automatically selecting the displayed optimal payment instrument or receiving a manual selection of the displayed optimal payment instrument, and in response to the step of selecting or receiving the selection, the computer initiating a payment for the item by the optimal payment instrument.