Bank of America Corporation

Scott A Weigman

Matthew D Murphy

Timothy J Bendel

Georgiana Gormley

Elbert Lee Whitler

Deborah F Wire

Melanie Lynn Alexander

Manoj Govindan

Todd J Worrall

Apparatus and methods for auditing a transaction record are provided. The transaction record may correspond to a credit card transaction. The auditing may include identifying a surcharge violation. The surcharge violation may be an unlawful surcharge. The auditing may identify patterns of double surcharging. Transaction-level auditing may include ensuring that a surcharge is returned upon a product return. A mobile wallet application may allow consumers to access and/or report merchant surcharge compliance activity. Functionality may include surcharge receipt scanning for use in crosschecking authenticity of a consumer report. Additional crosscheck functionality provided by geographic location support. Embodiments may include a registry for merchants that certify their surcharge calculations.

Surcharge violation registry

Methods and apparatus for recovering a transaction cost in connection with a transaction between a customer and a merchant are provided. The transaction cost may be recovered from a transaction that originates at a merchant location associated with a merchant category code. The transaction cost may be recovered from a low-value purchase. A recovery amount associated with the low-value purchase may include a fixed amount. The recovery amount associated with the low-value purchase may include a percentage of the acceptance cost. The recovery amount may be shared among two or more transaction participant. The recovery amount may be dynamically adjusted. Methods and apparatus may include providing adequate notice of changes in the recovery amount. The transaction cost may be recovered utilizing central control over network of merchant locations.

Merchant category code ('MCC') based acceptance cost recovery

Low value based acceptance cost recovery

Methods and apparatus for recovering a transaction cost in connection with a transaction between a customer and a merchant are provided. The transaction cost may be recovered from a selected region within a geographic area. The selected region may be a customer location. The selected region may be a merchant location. The selected region may be any suitable region. The transaction cost may be recovered utilizing central control over network of merchant locations. The transaction cost may be recovered during a selected time. Apparatus may include an application that allows a selection of a time and/or geographic region for recovery of the transaction cost.

Geography based transaction cost recovery

Apparatus and methods for determining a transaction cost recovery amount are provided. The transaction cost recovery amount may be determined for each of a plurality of locations. The locations may include point-of-sale terminals and/or checkout lanes. The transaction cost recovery amount may be determined based on Merchant Category Code ('MCC') information. When a customer leaves a first location associated with a first MCC, the customer may be informed of a transaction cost recovery amount at a second location. The second location may be associated with a second MCC. The transaction cost recovery amount may be determined based on a product inventory. The transaction cost recovery amount may be imposed to maintain an inventory level above a critical level. The transaction cost recovery amount may be based on a decrease and/or increase in an inventory level.

Transaction cost recovery queue management

Goal insurance is provided as a purchasable option to users who wish to have a goal tracking system monitor and enforce their goals. The user may define the goal, a reward to be given upon successful completion of the goal and penalties to be applied if the goal is not met. To avoid penalties, the user may purchase goal insurance that may be used or apply under specified circumstances. Such circumstances may include death, illness, unemployment or the like. Goal information and progress may be monitored by the goal tracking system and may further be published to one or more sites. Other users may contribute to the user's reward or send encouraging remarks. If the user does not purchase goal insurance, the predefined penalties may be applied upon expiration of a goal time period if the user has not achieved their goal.

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Charlotte, NC, United States of America

Scott A Weigman