System and method of recommending a payment option

Abstract

A computer-implemented method of recommending a payment option includes receiving data of payment options for a user. Data of a prospective purchase to be made by the user is received. At least two of the payment options are available for making the prospective purchase. A classifier determines an available incentive associated with each of the at least two payment options. The classifier applies a value to each of the incentives. The classifier compares the values for each of the incentives. A payment option having the highest corresponding incentive value is identified. The payment option having the highest corresponding incentive value is recommended to the user.

1 - 20 . (canceled) 
     
     
         21 . A computer-implemented method of recommending a payment option, the method comprising:
 receiving data of a plurality of payment options for a user;   receiving data of a prospective purchase to be made by the user, wherein at least two payment options of the plurality of payment options are available for making the prospective purchase;   determining, by a classifier, at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   applying, by the classifier, a value to the at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   comparing, by the classifier, the applied values for the at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   identifying a payment option having a corresponding incentive with the highest applied value;   recommending the identified payment option to the user;   identifying at least one alternative purchase that might be considered by the user based on the data of the prospective purchase, wherein at least one payment option of the plurality of payment options is available for making the at least one alternative purchase;   determining, by the classifier, at least one available incentive associated with the at least one payment option available for making the at least one alternative purchase;   applying, by the classifier, a value to the at least one available incentive associated with the at least one payment option available for making the at least one alternative purchase; and   transmitting a recommendation for the at least one alternative purchase to the user if the value applied to the at least one available incentive associated with the at least one payment option available for making the at least one alternative purchase is higher than any of the applied values for the at least one available incentive associated with each of the at least two payment options of the plurality of payment options, wherein the recommendation for the at least one alternative purchase includes the value applied to the at least one available incentive associated with the at least one payment option available for making the at least one alternative purchase.   
     
     
         22 . The method of  claim 21 , wherein the classifier includes a convolutional neural network (CNN, or ConvNet). 
     
     
         23 . The method of  claim 21 , wherein the classifier includes a Bayesian network. 
     
     
         24 . The method of  claim 21 , wherein the classifier includes a neural tree network. 
     
     
         25 . The method of  claim 21 , wherein the classifier includes a support-vector machine (SVM). 
     
     
         26 . The method of  claim 21 , wherein the plurality of payment options are stored in a digital wallet, an electronic wallet, or a database. 
     
     
         27 . The method of  claim 21 , wherein the incentives include cash back, rewards points, or non-monetary benefits. 
     
     
         28 . The method of  claim 27 , wherein the non-monetary benefits include an additional warranty, theft protection, flight forgiveness, or insurance. 
     
     
         29 . The method of  claim 21 , further including:
 generating a list including the value applied to the at least one available incentive associated with each of the at least two payment options of the plurality of payment options; and   transmitting the generated list to the user.   
     
     
         30 . The method of  claim 21 , wherein the plurality of payment options includes at least one credit card, at least one debit card, at least one prepaid card, at least one gift card, at least one bank card, at least one virtual card, at least one membership card, or at least one membership account. 
     
     
         31 . The method of  claim 21 , wherein the plurality of payment options includes at least one cryptocurrency. 
     
     
         32 . The method of  claim 31 , wherein the cryptocurrency is configured to be authenticated using a blockchain. 
     
     
         33 . The method of  claim 21 , further including providing a list of payment options in order of priority based on at least one predetermined priority convention provided by the user. 
     
     
         34 . The method of  claim 21 , further including:
 identifying a new payment option not included in the plurality of payment options for the user; and   recommending signing up for the new payment option to the user.   
     
     
         35 . The method of  claim 34 , wherein the new payment option includes at least one incentive that will become available on a future date. 
     
     
         36 . The method of  claim 21 , further including
 receiving at least one value preference from the user; and   increasing at least one value applied by the classifier based on the at least one value preference received from the user.   
     
     
         37 . The method of  claim 21 , further including:
 determining an amount of incentives previously accrued for each payment option of the plurality of payment options;   generating a list including the determined amount of incentives previously accrued for each payment option of the plurality of payment options; and   transmitting the generated list to the user.   
     
     
         38 . A computer-implemented method of recommending a payment option, the method comprising:
 receiving data of a plurality of payment options for a user;   receiving data of a prospective purchase to be made by the user, wherein at least two payment options of the plurality of payment options are available for making the prospective purchase;   determining, by a classifier, at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   applying, by the classifier, a value to the at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   comparing, by the classifier, the applied values for the at least one available incentive associated with each of the at least two payment options of the plurality of payment options;   identifying a payment option having a corresponding incentive with the highest applied value;   identifying a redemption platform for redeeming the corresponding incentive with the highest applied value; and   recommending the identified payment option and the identified redemption platform to the user.   
     
     
         39 . The method of  claim 38 , wherein the redemption platform is identified based on maximizing the corresponding incentive by determining a maximum received value for the corresponding incentive. 
     
     
         40 . The method of  claim 39 , further including:
 generating a list including the value applied to the at least one available incentive associated with each of the at least two payment options of the plurality of payment options, wherein the generated list includes the identified redemption platform; and   transmitting the generated list to the user.