Patents by Inventor Philip G. Heasley

Philip G. Heasley has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Method and system for dynamically adjusting discount rates for a card transaction
    Patent number: 7925583
    Abstract: According to one embodiment, the present invention relates to a method and a system for dynamically adjusting discount rates for a closed loop transaction. A computer implemented method for dynamically adjusting discount rates for a card transaction comprises the steps of identifying credit worthiness of at least one consumer; assigning a credit level to a line of credit associated with a credit product for the at least one consumer wherein the credit product is accepted at an identified one or more merchants; assigning a financing charge to the line of credit; determining a discount rate based at least in part on the credit worthiness of the at least one consumer; and applying the discount rate when at least one transaction is made with the credit product; wherein the applied discount rate is adjusted based on the credit worthiness of the at least one consumer.
    Type: Grant
    Filed: November 23, 2009
    Date of Patent: April 12, 2011
    Assignee: JPMorgan Chase Bank, N.A.
    Inventors: Philip G. Heasley, Frank J. Partel, Jr.
  • Method and system for dynamically adjusting discount rates for a card transaction
    Patent number: 7624068
    Abstract: According to one embodiment, the present invention relates to a method and a system for dynamically adjusting discount rates for a closed loop transaction. A computer implemented method for dynamically adjusting discount rates for a card transaction comprises the steps of identifying credit worthiness of at least one consumer; assigning a credit level to a line of credit associated with a credit product for the at least one consumer wherein the credit product is accepted at an identified one or more merchants; assigning a financing charge to the line of credit; determining a discount rate based at least in part on the credit worthiness of the at least one consumer; and applying the discount rate when at least one transaction is made with the credit product; wherein the applied discount rate is adjusted based on the credit worthiness of the at least one consumer.
    Type: Grant
    Filed: August 18, 2004
    Date of Patent: November 24, 2009
    Assignee: JPMorgan Chase Bank, N.A.
    Inventors: Philip G. Heasley, Frank J. Partel, Jr.