The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jun. 27, 2017
Filed:
Apr. 20, 2016
Visa International Service Association, San Francisco, CA (US);
Edward Scheidelman, Fairfax, CA (US);
VISA INTERNATIONAL SERVICE ASSOCIATION, San Francisco, CA (US);
Abstract
Combining the natural language processing of product descriptions and statistical analysis of payment data to classify consumers based on products purchased and merchants based on products sold. Systems and methods use natural language processing techniques to interpret the descriptions of item level purchase data to classify products that have been purchased by customers into micro-categories. Statistical deviation methods are applied to the payment data to calculate normalized mean product cost, after removing outliers. After determining the micro-categories of the products purchased and the mean product cost of the purchased products, the system and methods classify consumers and merchants into categories based at least in part on the product micro-categories, mean costs, and relative volume of product types sold by merchants to predict which consumers are likely to purchase from which merchants.