Post-purchase credit offer and tender switch

1. A computer-implemented method comprising:

detecting completion of a transaction at a retailer, wherein when the transaction is completed at the retailer, transaction information is submitted and the transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided;

receiving the transaction information associated with the transaction, wherein the transaction information specifies a selected payment instrument and contact information for a customer corresponding to the transaction;

receiving input corresponding to a selection of payment information associated with the selected payment instrument;

generating a determination using the payment information and the contact information;

training a machine learning algorithm using sample transaction data, wherein training includes identifying one or more recipients for offers to switch transactions to a preferred payment instrument while the transactions are held as pending transactions;

using the machine learning algorithm to generate an offer to switch the transaction from the selected payment instrument to the preferred payment instrument while the transaction is held as the pending transaction, wherein the offer to switch is from the selected payment instrument to the preferred payment instrument;

receiving a request to switch the transaction from the selected payment instrument to the preferred payment instrument;

switching the transaction to the preferred payment instrument from the selected payment instrument, wherein switching the transaction causes the authorization for fulfillment of the transaction to be provided; and

completing the transaction using the preferred payment instrument, wherein the transaction is changed from the pending transaction to a completed transaction, and wherein the completed transaction is used to train the machine learning algorithm.

2. The computer-implemented method of claim 1 , wherein the offer further includes an application for a new line of credit associated with the preferred payment instrument, wherein the application is included as a result of determining that payment instruments previously issued to the customer do not include the preferred payment instrument.

3. The computer-implemented method of claim 1 , wherein the offer specifies one or more incentives for switching the transaction from the selected payment instrument to the preferred payment instrument for the transaction while the transaction is held as the pending transaction.

4. The computer-implemented method of claim 1 , further comprising determining available credit for the preferred payment instrument, wherein the available credit is used to generate the offer.

5. The computer-implemented method of claim 1 , wherein the offer is generated subject to an expiration, wherein the offer is rescinded as a result of the expiration.

6. The computer-implemented method of claim 1 , wherein the offer includes an option to split the transaction between the selected payment instrument and the preferred payment instrument while the transaction is held as the pending transaction.

7. The computer-implemented method of claim 1 , further comprising:

receiving an application for a new line of credit associated with the preferred payment instrument;

generating another determination as to whether the customer is approved for the new line of credit, wherein the other determination is based on an evaluation of the application; and

generating the offer to switch from the selected payment instrument to the preferred payment instrument based on the other determination.

8. A system, comprising:

one or more processors; and

memory storing thereon instructions that, as a result of being executed by the one or more processors, cause the system to:

detect completion of a transaction at a retailer, wherein when the transaction is completed at the retailer, transaction information is submitted and the transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided

receive the transaction information associated with the transaction, wherein the transaction information specifies a selected payment instrument and contact information for a customer corresponding to the transaction;

receive input corresponding to a selection of payment information associated with the selected payment instrument;

generate a determination using the payment information and the contact information;

train a machine learning algorithm using sample transaction data, wherein training includes identifying one or more recipients for offers to switch transactions to a preferred payment instrument while the transactions are held as pending transactions;

use the machine learning algorithm to generate an offer to switch the transaction from the selected payment instrument to the preferred payment instrument while the transaction is held as the pending transaction, wherein the offer to switch is from the selected payment instrument to the preferred payment instrument;

receive a request to switch the transaction from the selected payment instrument to the preferred payment instrument while the transaction is held as the pending transaction;

switch the transaction to the preferred payment instrument from the selected payment instrument, wherein switching the transaction causes the authorization for fulfillment of the transaction to be provided; and

complete the transaction using the preferred payment instrument, wherein the transaction is changed from the pending transaction to a completed transaction, and wherein the completed transaction is used to train the machine learning algorithm.

9. The system of claim 8 , wherein the offer is generated subject to an expiration, wherein the offer is automatically rescinded as a result of the expiration.

10. The system of claim 8 , wherein the offer further includes an application for a new line of credit associated with the preferred payment instrument, wherein the application is included as a result of determining that payment instruments previously issued to the customer do not include the preferred payment instrument.

11. The system of claim 8 , wherein the offer specifies one or more incentives for switching the transaction from the selected payment instrument to the preferred payment instrument for the transaction while the transaction is held as the pending transaction.

12. The system of claim 8 , wherein the instructions further cause the system to determine available credit for the preferred payment instrument, wherein the available credit is used to generate the offer.

13. The system of claim 8 , wherein the instructions further cause the system to:

receive an application for a new line of credit associated with the preferred payment instrument;

generate another determination as to whether the customer is approved for the new line of credit, wherein the other determination is based on an evaluation of the application; and

generate the offer to switch from the selected payment instrument to the preferred payment instrument based on the other determination.

14. The system of claim 8 , wherein the offer includes an option to split the transaction between the selected payment instrument and the preferred payment instrument while the transaction is held as the pending transaction.

15. A non-transitory, computer-readable storage medium storing thereon executable instructions that, as a result of being executed by one or more processors of a computer system, cause the computer system to:

detect completion of a transaction at a retailer, wherein when the transaction is completed at the retailer, transaction information is submitted and the transaction is held as a pending transaction until authorization for fulfillment of the transaction is provided;

receive the transaction information associated with the transaction, wherein the transaction information specifies a selected payment instrument and contact information for a customer corresponding to the transaction;

receive input corresponding to a selection of payment information associated with the selected payment instrument;

generate a determination using the payment information and the contact information;

train a machine learning algorithm using sample transaction data, wherein training includes identifying one or more recipients for offers to switch transactions to a preferred payment instrument while the transactions are held as pending transactions;

use the machine learning algorithm to generate an offer to switch the transaction from the selected payment instrument to the preferred payment instrument while the transaction is held as the pending transaction, wherein the offer to switch is from the selected payment instrument to the preferred payment instrument;

receive a request to switch the transaction from the selected payment instrument to the preferred payment instrument while the transaction is held as the pending transaction;

switch the transaction to the preferred payment instrument from the selected payment instrument, wherein switching the transaction causes the authorization for fulfillment of the transaction to be provided; and

complete the transaction using the preferred payment instrument, wherein the transaction is changed from the pending transaction to a completed transaction, and wherein the completed transaction is used to train the machine learning algorithm.

16. The non-transitory, computer-readable storage medium of claim 15 , wherein the offer further includes an application for a new line of credit associated with the preferred payment instrument, wherein the application is included as a result of determining that payment instruments previously issued to the customer do not include the preferred payment instrument.

17. The non-transitory, computer-readable storage medium of claim 15 , wherein the offer specifies one or more incentives for switching the transaction from the selected payment instrument to the preferred payment instrument for the transaction while the transaction is held as the pending transaction.

18. The non-transitory, computer-readable storage medium of claim 15 , wherein the offer is generated subject to an expiration, wherein the offer is rescinded as a result of the expiration.

19. The non-transitory, computer-readable storage medium of claim 15 , wherein the offer includes an option to split the transaction between the selected payment instrument and the preferred payment instrument while the transaction is held as the pending transaction.

20. The non-transitory, computer-readable storage medium of claim 15 , wherein the executable instructions further cause the computer system to determine available credit for the preferred payment instrument, wherein the available credit is used to generate the offer.

21. The non-transitory, computer-readable storage medium of claim 15 , wherein the executable instructions further cause the computer system to:

receive an application for a new line of credit associated with the preferred payment instrument;

generate another determination as to whether the customer is approved for the new line of credit, wherein the other determination is based on an evaluation of the application; and

generate the offer to switch from the selected payment instrument to the preferred payment instrument based on the other determination.