Patents Assigned to Discover Financial Services LLC
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Publication number: 20150269552Abstract: This disclosure describes systems and methods for disbursing funds to multiple parties. The system allows a payment processing system to distribute funds to multiple parties. The disbursement amounts are contained in a disbursement file. Disbursements can be made as a percentage of revenue of a particular transaction.Type: ApplicationFiled: March 21, 2014Publication date: September 24, 2015Applicant: Discover Financial Services LLCInventors: James Michael TEKULVE, Scott Michael DEBOARD, Joseph SungChul KIM, Mark Alan OTTO, Catherine Virginia MADISON
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Publication number: 20140279391Abstract: Systems and methods are provided that cause a single user interface to be accessible by an account manager, where the single user interface is capable of displaying biographical information about a customer, displaying financial history and information about the customer, displaying a credit bureau summary portion, integrating additional calculators into the user interface, providing an offer result history, providing a banking information indicator, creating decision fields in the user interface that utilize new data sources, and/or providing the ability to present dynamic scripting to the account manager based on account attributes and other attributes and data.Type: ApplicationFiled: March 15, 2013Publication date: September 18, 2014Applicant: Discover Financial Services LLCInventors: Suzanne Gallo, Daniel Roland, Shilpa Wadhera, Alfredo Osorio
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Publication number: 20140172507Abstract: A method for predictive modeling of merchant attrition in a payment network. The method includes registering a plurality of merchants in the payment network, each merchant associated with at least one merchant acquirer; standardizing merchant registration information for the plurality of merchants to identify duplicate entries; assigning a unique merchant identification to each merchant; receiving transactional data from at least one merchant, the transactional data including at least a transaction amount and a transaction date; building a time series data set for the merchant from the transactional data; determining a merchant category for the merchant based on the primary industry group in which the merchant operates; and calculating a probability for the merchant to switch to a different acquirer based on one of a plurality of attrition models.Type: ApplicationFiled: December 17, 2012Publication date: June 19, 2014Applicant: DISCOVER FINANCIAL SERVICES LLCInventor: Girish Menon
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Patent number: 8620731Abstract: An inverted tier award system for financial alternatives to currency is presented, wherein a consumer using the financial alternative to currency is rewarded based on the purchases made by the consumer within a given time frame. Award rates can vary based on the total value of purchases made within a given time frame, with higher award rates assigned to lower value ranges to motivate those consumers to increase their purchases made using the financial alternative to currency. Additionally, higher award rates at lower value ranges can increase consumer loyalty and provide consumers access to their awards more quickly and more often. The award rates or award access can be modified to achieve greater profitability or to further other goals of the implementing organization.Type: GrantFiled: November 3, 2003Date of Patent: December 31, 2013Assignee: Discover Financial Services LLCInventor: David W. Nelms
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Patent number: 7890421Abstract: Ways are provided to allow a credit card issuing financial institution and the card member to customize a credit card account by defining an unlimited number of special-purpose lines of credit, while maintaining the overall risk at or below the overall line of credit. The individual specialized lines of credit share the overall line of credit, where the total amount of credit actually extended to the card member based on one or more of the specialized lines of credit is limited by the overall line of credit. To provide flexibility in allocating credit toward a plurality of different expenses, the sum of all of the individual lines of credit is preferably greater than the overall line of credit. Therefore, numerous special-purpose lines of credit are created for promotional, budgetary, fraud prevention, or other purposes, without negatively affecting the consumer's credit profile and/or credit score.Type: GrantFiled: November 7, 2007Date of Patent: February 15, 2011Assignee: Discover Financial Services LLCInventors: Nicholas Peter Dumas-Brown, Jeffrey Thomas Bielski
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Publication number: 20100082418Abstract: A cash rebate award system with increased payout options is presented, wherein a consumer using a financial alternative to currency is rewarded based on the purchases made by the consumer within a given time frame, and is allowed to electronically transfer the award into any number of banking or investment accounts. A standard electronic currency transfer system, such as the ABA routing number system, or the ACH routing system, can be used so as not to limit the accounts into which the consumer can transfer their award. Consumers can also choose to transfer their award to multiple accounts, or accounts belonging to others, such as family or charities. Account information can also be saved for more efficient subsequent transfers, and automated transfers can also be set up by the consumer.Type: ApplicationFiled: December 7, 2009Publication date: April 1, 2010Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Julie Anne Loeger, Vicki Ann Smith-Doyle
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Patent number: 7630935Abstract: A cash rebate award system with increased payout options is presented, wherein a consumer using a financial alternative to currency is rewarded based on the purchases made by the consumer within a given time frame, and is allowed to electronically transfer the award into any number of banking or investment accounts. A standard electronic currency transfer system, such as the ABA routing number system, or the ACH routing system, can be used so as not to limit the accounts into which the consumer can transfer their award. Consumers can also choose to transfer their award to multiple accounts, or accounts belonging to others, such as family or charities. Account information can also be saved for more efficient subsequent transfers, and automated transfers can also be set up by the consumer.Type: GrantFiled: November 3, 2003Date of Patent: December 8, 2009Assignee: Discover Financial Services LLCInventors: Julie Anne Loeger, Vicky Ann Smith-Doyle
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Publication number: 20090177488Abstract: Systems and methods are disclosed for settling health care claims as part of a claim adjudication process. A standard financial transaction network is used to settle the portion of the claim not covered by insurance. Eligibility checks are also disclosed that make use of the financial transaction network to determine whether a patient has sufficient funds in a financial account to cover his portion of health care related expenses. The eligibility checks can be combined with the settlement process.Type: ApplicationFiled: January 9, 2008Publication date: July 9, 2009Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Judith UNLAND, Mike KNAUFF
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Patent number: 7549244Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: GrantFiled: November 5, 2007Date of Patent: June 23, 2009Assignee: Discover Financial Services LLCInventors: David W. Nelms, Betty M. Schick, Kimberly S. Wilson, Roger C. Hochschild
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Publication number: 20090119202Abstract: Ways are provided to allow a credit card issuing financial institution and the card member to customize a credit card account by defining an unlimited number of special-purpose lines of credit, while maintaining the overall risk at or below the overall line of credit. The individual specialized lines of credit share the overall line of credit, where the total amount of credit actually extended to the card member based on one or more of the specialized lines of credit is limited by the overall line of credit. To provide flexibility in allocating credit toward a plurality of different expenses, the sum of all of the individual lines of credit is preferably greater than the overall line of credit. Therefore, numerous special-purpose lines of credit are created for promotional, budgetary, fraud prevention, or other purposes, without negatively affecting the consumer's credit profile and/or credit score.Type: ApplicationFiled: November 7, 2007Publication date: May 7, 2009Applicant: Discover Financial Services LLCInventors: Nicholas Peter Dumas-Brown, Jeffrey Thomas Bielski
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Publication number: 20090083065Abstract: Transaction network operators can facilitate transactions of healthcare related goods via customers' tax-advantaged accounts, but without subjecting themselves to privacy regulations. Authorization for healthcare related purchases, including both price information and product information, is passed over PBM networks or other networks that already are regulation-compliant, while other purchase requests pass over existing payment card transaction networks. The PBM network divorces product information from the payment information, confirms eligibility, and passes the payment information to the general transaction network operator, indicating those funds are to come from the customer's tax-advantaged account. The network operator marries the payment information from the PBM with the other transaction information from the payment card network, withdraws appropriate funds from the tax-advantaged account, and notifies the merchant the amount that has been withdrawn from the tax-advantaged account.Type: ApplicationFiled: September 24, 2007Publication date: March 26, 2009Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Judith UNLAND, Mike KNAUFF
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Publication number: 20080255986Abstract: Techniques are described for targeting customers with offers for pre-approved credit. The techniques can be employed while the customer is engaged in a business transaction at a merchant's point-of-sale by pre-screening for creditworthiness using basic customer information known to the merchant. The pre-screening can be performed on behalf of a single lender or in a cascading fashion on behalf of multiple lenders should the customer fail initial pre-screens. Additionally, techniques are described for using a cascading approach on customer-initiated credit applications, such that an applicant declined credit from one lender is automatically considered for credit from another lender via an arrangement between the lenders.Type: ApplicationFiled: April 12, 2007Publication date: October 16, 2008Applicant: Discover Financial Services LLCInventors: Mark Scarborough, Hoan Wagner, Jerry Young, Jonas Ng
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Publication number: 20080103968Abstract: Systems and methods are described for redeeming rewards at a merchant's point-of-sale. The reward redemption takes place in real time and can be accomplished without the active participation of the merchant. A single credit card with no additional information may be used with a single swipe from the consumer to access both credit and rewards accounts, such that a single authorization request is made to encompass both rewards and credit. Merchants can be fully compensated for transactions by the issuer despite the customer's choice to redeem rewards.Type: ApplicationFiled: October 31, 2006Publication date: May 1, 2008Applicant: Discover Financial Services LLCInventors: Maureen J. Bies, Bradford P. Hawley
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Publication number: 20080082407Abstract: Systems and methods are described whereby credit card customers can receive predictable rewards that serve as incentives to manage their credit card debt payments wisely. In particular, credit card holders receive rewards when making several consecutive timely payments. Cardholders also receive rewards when, in a given timeframe, they make some predetermined number of payments above the amount of the minimum payment due. The rewards may be processed in any of several ways chosen by the customer. The rewards' value may be arbitrary (dynamic or static), or based on account variables, such as the amount of interest due on the credit card account.Type: ApplicationFiled: September 15, 2006Publication date: April 3, 2008Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Margaret H. Georgiadis, Anas Osman, Kelly J. Tufts
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Publication number: 20080059369Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: ApplicationFiled: November 5, 2007Publication date: March 6, 2008Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: David Nelms, Betty Schick, Kimberly Wilson, Roger Hochschild
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Patent number: 7290364Abstract: A non-rectangular or asymmetrically shaped credit card or phone card with an associated case or holder. The card has a configuration that complements the configuration of the case so that the card is easily removed from the holder for access, yet is maintained inside the case in a covered position and is protected from abuse. The case is designed to be light-weight and easily carried and to serve as a device to carry the card in a safe and convenient manner outside of a wallet or purse. Alternatively, the card may be in an I-shape or square shape configuration.Type: GrantFiled: February 27, 2002Date of Patent: November 6, 2007Assignee: Discover Financial Services LLCInventors: David W. Nelms, Betty M. Schick, Kimberly S. Wilson, Roger C. Hochschild
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Publication number: 20070136135Abstract: A series of time-bounded bonus rewards programs is disclosed for offering by a financial institution. Consumers enroll in each program and are thereafter provided bonus rewards on consumer purchases with a credit card on goods and services from one or more select merchant categories until the program's expiration. These bonus rewards are in addition to or in place of standard rewards the financial institution offers its customers. The selected merchant categories of the bonus rewards programs are relevant to the consumer in the given time frame in that they provide goods and services according to consumers' needs for that time of year. Incentives are thus provided to consumers to increase their use of the financial institution's credit card by providing bonus rewards on purchases that fit consumers' needs within the time frame of the program.Type: ApplicationFiled: December 13, 2006Publication date: June 14, 2007Applicant: DISCOVER FINANCIAL SERVICES LLCInventors: Julie Loeger, Margaret Georgiadis
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Patent number: 7204366Abstract: A credit card case or fob with an integrated quick-release latch is provided that may be unclipped readily from a key loop, key chain or other device. The quick-release credit card case includes upper and lower cover portions and a pivot member for connecting the upper and lower cover portions. The pivot member is adapted to have at least one card mounted thereon so as to permit pivotal rotation of the card relative to the upper and lower cover portions. The upper and lower cover portions each have a slot in an outer surface thereof at mateably aligned locations to permit insertion of a key chain loop therein. A latch mounted on at least one of the cover portions is selectively movable to alternate positions exposing the radially outwardly facing opening of the slot in said cover portions and closing said radially outwardly facing opening of the slot in said cover portions.Type: GrantFiled: October 9, 2003Date of Patent: April 17, 2007Assignee: Discover Financial Services LLCInventors: David W. Nelms, Rodney A. Dawson
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Patent number: D545361Type: GrantFiled: October 6, 2005Date of Patent: June 26, 2007Assignee: Discover Financial Services LLCInventors: Lien D. Boland, Keith Alsberg