17839585. CALCULATING RETURN WINDOW simplified abstract (Capital One Services, LLC)

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CALCULATING RETURN WINDOW

Organization Name

Capital One Services, LLC

Inventor(s)

Leeyat Bracha Tessler of Arlington VA (US)

Abdelkader M'Haamed Benkreira of Washington DC (US)

Shabnam Kousha of Washington DC (US)

CALCULATING RETURN WINDOW - A simplified explanation of the abstract

This abstract first appeared for US patent application 17839585 titled 'CALCULATING RETURN WINDOW

Simplified Explanation

The disclosed embodiments of this patent application relate to systems and methods for facilitating product returns. Here is a simplified explanation of the abstract:

  • The patent application describes a system that helps users return products they have purchased from a merchant.
  • The system uses transaction data to determine the specific product purchased by the user.
  • It predicts the return window for the product by analyzing data from merchant websites, industry standards, and transaction data.
  • The system also predicts the likelihood that a product will be returned based on the transaction data.
  • If a product is identified as a potential candidate for return, the user is notified of the return window and a confidence score associated with it.
  • The system can also determine or infer the timeliness of refunds based on transaction data and inform the user.
  • It continuously monitors transaction data and alerts the user if they do not receive the expected credit within a predetermined time.

Potential applications of this technology:

  • E-commerce platforms can use this system to provide a better return experience for their customers.
  • Retailers can use the system to proactively notify customers about return windows and refund timeliness.
  • Customers can benefit from this system by having a more streamlined and efficient return process.

Problems solved by this technology:

  • This system addresses the challenge of accurately predicting return windows for products, which can vary depending on various factors.
  • It helps users avoid the inconvenience of missing return windows or experiencing delays in receiving refunds.

Benefits of this technology:

  • Users can have a better understanding of the return window for their purchased products and the likelihood of returns.
  • The system provides users with confidence scores, allowing them to make informed decisions about returning products.
  • Users are alerted if they do not receive the expected credit within a specified time, ensuring a timely resolution to return issues.


Original Abstract Submitted

Disclosed embodiments pertain to systems and methods of facilitating product return. A product purchased by a user from a merchant can be determined from transaction data of the user. A return window for the product can be predicted from one or more of data from merchant websites, industry standards, or transaction data. Further, the likelihood that a product is a candidate for return can be predicted based on the transaction data. If the product is determined to be a candidate for return, the user can be notified of the return window for the product and a confidence score associated with the window. Refund timeliness can also be determined or inferred based on transaction data and provided to the user. Subsequently, transaction data can be monitored, and the user can be alerted if credit is not received after a predetermined time or the credit is less than expected.

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