SYSTEM AND METHOD FOR MANAGING TRANSACTIONS WITH A PORTABLE COMPUTING DEVICE
A method and system include verifying credentials for gaining access to a central mobile payment controller using the portable computing device (“PCD”). The central mobile payment controller may receive a merchant identifier corresponding to a vending machine and then it may compare the merchant identifier against loyalty account data stored in a database. The central mobile payment controller through a tender steering module may determine if a profile of the portable computing device is associated with a merchant branded payment account and/or with a merchant branded stored value account. The central mobile payment controller may produce a message that lists one or more preferred payment options in a ranked fashion that may favor a merchant based on interchange rates for completing a transaction at the vending machine.
1 . A method for managing transactions with a portable computing device, the method comprising:
verifying credentials for gaining access to a central mobile payment controller;
receiving a merchant identifier corresponding to a vending machine from a computer communications network;
determining if a profile of the portable computing device is associated with a merchant branded payment account;
determining if the profile of the portable computing device is associated with a merchant branded stored value account; and
generating a message that lists one or more preferred payment options in a ranked fashion that may favor a merchant for completing a transaction at the vending machine.
2 . The method of claim 1 , further comprising: automatically preparing an offer for a merchant branded payment account.
3 . The method of claim 2 , further comprising: executing one or more business rules for preparing offers associated with a merchant branded account.
4 . The method of claim 1 , further comprising: executing one or more rules for generating offers based on an association of a loyalty program and a number of transactions with one or more vending machines owned by the merchant.
5 . The method of claim 1 , wherein the one or more preferred payment options comprises account information corresponding to at least one of a credit card account, a debit card account, a checking account, a savings account, and a stored value account.
6 . The method of claim 1 , further comprising: comparing one or more payment options and their corresponding interchange rates to a final purchase price of a transaction.
7 . The method of claim 1 , further comprising: re-ordering the payment options by payment account types.
8 . The method of claim 1 , further comprising: displaying the one or more preferred payment options in a ranked fashion that may favor a merchant on a display device of the personal computing device.
9 . The method of claim 1 , further comprising: displaying merchant branded gift card accounts and merchant branded payment accounts in earlier slots of a ranked list on a display device.
10 . The method of claim 1 , further comprising determining a benefits level of a payment account by reviewing at least the first six digits of the payment account.
11 . A computer system for managing transactions with a portable computing device, the system comprising:
a processor operable for:
verifying credentials for gaining access to a central mobile payment controller;
receiving a merchant identifier corresponding to a vending machine from a computer communications network;
determining if a profile of the portable computing device is associated with a merchant branded payment account;
determining if the profile of the portable computing device is associated with a merchant branded stored value account; and
generating a message that lists one or more preferred payment options in a ranked fashion that may favor a merchant for completing a transaction at the vending machine.
12 . The system of claim 11 , wherein the processor is further operable for automatically preparing an offer for a merchant branded payment account.
13 . The system of claim 12 , wherein the processor is further operable for executing one or more business rules for preparing offers associated with a merchant branded account.
14 . The system of claim 11 , wherein the processor operable for executing one or more rules for generating offers based on an association of a loyalty program and a number of transactions with one or more vending machines owned by the merchant.
15 . The system of claim 11 , wherein the one or more preferred payment options comprises account information corresponding to at least one of a credit card account, a debit card account, a checking account, a savings account, and a stored value account.
16 . The system of claim 11 , wherein the processor operable comparing one or more payment options and their corresponding interchange rates to a final purchase price of a trans action.
17 . The system of claim 11 , wherein the processor is further operable for re-ordering the payment options by payment account types.
18 . The system of claim 11 , wherein the processor is further operable for displaying the one or more preferred payment options in a ranked fashion that may favor a merchant on a display device of the personal computing device.
19 . The system of claim 11 , wherein the processor is further operable for displaying merchant branded gift card accounts and merchant branded payment accounts in earlier slots of a ranked list on a display device.
20 . The system of claim 11 , wherein the processor is further operable for determining a benefits level of a payment account by reviewing at least the first six digits of the payment account.
21 . A computer system for managing transactions with a portable computing device, the system comprising:
means for verifying credentials for gaining access to a central mobile payment controller;
means for receiving a merchant identifier corresponding to a vending machine from a computer communications network;
means for determining if a profile of the portable computing device is associated with a merchant branded payment account;
means for determining if the profile of the portable computing device is associated with a merchant branded stored value account; and
means for generating a message that lists one or more preferred payment options in a ranked fashion that may favor a merchant for completing a transaction at the vending machine.
22 . The system of claim 21 , further comprising means for automatically preparing an offer for a merchant branded payment account.
23 . The system of claim 22 , further comprising means for executing one or more business rules for preparing offers associated with a merchant branded account.
24 . The system of claim 21 , further comprising means for executing one or more rules for generating offers based on an association of a loyalty program and a number of transactions with one or more vending machines owned by the merchant.
25 . The system of claim 21 , wherein the one or more preferred payment options comprises account information corresponding to at least one of a credit card account, a debit card account, a checking account, a savings account, and a stored value account.
26 . The method of claim 21 , wherein the means for comparing one or more payment options and their corresponding interchange rates to a final purchase price of a transaction.
27 . The system of claim 21 , further comprising means for re-ordering the payment options by payment account types.
28 . The system of claim 21 , further comprising means for displaying the one or more preferred payment options in a ranked fashion that may favor a merchant on a display device of the personal computing device.
29 . The system of claim 21 , further comprising: means for displaying merchant branded gift card accounts and merchant branded payment accounts in earlier slots of a ranked list on a display device.
30 . The system of claim 21 , further comprising means for determining a benefits level of a payment account by reviewing at least the first six digits of the payment account.
31 . A computer program product comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code adapted to be executed to implement a method for managing transactions with a portable computing device, said method comprising:
verifying credentials for gaining access to a central mobile payment controller;
receiving a merchant identifier corresponding to a vending machine from a computer communications network;
determining if a profile of the portable computing device is associated with a merchant branded payment account;
determining if the profile of the portable computing device is associated with a merchant branded stored value account; and
generating a message that lists one or more preferred payment options in a ranked fashion that may favor a merchant for completing a transaction at the vending machine.
32 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
automatically preparing an offer for a merchant branded payment account.
33 . The computer program product of claim 32 , wherein the program code implementing the method further comprises:
executing one or more business rules for preparing offers associated with a merchant branded account.
34 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
executing one or more rules for generating offers based on an association of a loyalty program and a number of transactions with one or more vending machines owned by the merchant.
35 . The computer program product of claim 31 , wherein the one or more preferred payment options comprises account information corresponding to at least one of a credit card account, a debit card account, a checking account, a savings account, and a stored value account.
36 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
comparing one or more payment options and their corresponding interchange rates to a final purchase price of a transaction.
37 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
re-ordering the payment options by payment account types.
38 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
displaying the one or more preferred payment options in a ranked fashion that may favor a merchant on a display device of the personal computing device.
39 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
displaying merchant branded gift card accounts and merchant branded payment accounts in earlier slots of a ranked list on a display device.
40 . The computer program product of claim 31 , wherein the program code implementing the method further comprises:
determining a benefits level of a payment account by reviewing at least the first six digits of the payment account.