18243596. TRANSACTION AND RECEIPT BASED ALERT AND NOTIFICATION SYSTEM AND TECHNIQUES simplified abstract (Capital One Services, LLC)
TRANSACTION AND RECEIPT BASED ALERT AND NOTIFICATION SYSTEM AND TECHNIQUES
Organization Name
Inventor(s)
Latika Gulati of Annandale VA (US)
Joshua Edwards of Philadelphia PA (US)
Lukiih Cuan of Washington DC (US)
TRANSACTION AND RECEIPT BASED ALERT AND NOTIFICATION SYSTEM AND TECHNIQUES - A simplified explanation of the abstract
This abstract first appeared for US patent application 18243596 titled 'TRANSACTION AND RECEIPT BASED ALERT AND NOTIFICATION SYSTEM AND TECHNIQUES
Simplified Explanation
The abstract describes a sales notification application that can provide users with information about better prices for products. Here are the key points:
- The application obtains product information from purchase receipts uploaded by mobile devices.
- It determines similarities between the product information from different purchases.
- The application aggregates the product information based on these similarities.
- Users can provide a selected product and its purchase location for comparison to the aggregated information.
- The application outputs a comparison result to the sales notification application.
- Users can use a payment card enabled by the application to purchase the selected product.
Potential Applications
- Retail: This technology can be used by retailers to provide customers with notifications about better prices for products they have purchased before, encouraging repeat purchases.
- Price Comparison: The application can be used as a price comparison tool, helping users find the best deals for products they are interested in.
- Personal Finance: Users can use the application to track their spending and make informed decisions about future purchases.
Problems Solved
- Lack of Price Awareness: The application solves the problem of users not being aware of better prices for products they have purchased before.
- Time-consuming Price Comparison: Users can save time by using the application to compare prices instead of manually searching for the best deals.
- Impulse Purchases: The application helps users make more informed purchasing decisions by providing them with information about better prices.
Benefits
- Cost Savings: Users can save money by being notified about better prices for products they have purchased before.
- Convenience: The application provides users with a convenient way to compare prices and make informed purchasing decisions.
- Personalization: The application tailors the notifications and recommendations based on the user's previous purchases, providing a personalized shopping experience.
Original Abstract Submitted
Examples are described that enable a sales notification application executing on the mobile device to provide an indication of a better price for a product. In the examples, product information may be obtained from product purchase receipts uploaded by mobile devices executing an instance of a sales notification application. Similarities may be determined between the product information received from each product purchase of the plurality of product purchases. The product information from each of the uploaded receipts may be aggregated based on the determined similarity between the product information. A selected product and a location at which the selected product has been purchased previously may be received for comparison to the aggregated information in a product purchase database. A comparison result may be output to the sales notification application. A payment card may be enabled to purchase the selected product.
