Is a
Patent attributes
Patent Applicant
Current Assignee
Patent Jurisdiction
Patent Number
Patent Inventor Names
Kalyani Iyer0
Mehmet Zahit Guneri0
Michael Ward0
Dennis Jarosch0
Kenji Kaneda0
Date of Patent
September 3, 2019
Patent Application Number
15444898
Date Filed
February 28, 2017
Patent Citations Received
Patent Primary Examiner
Patent abstract
A payment processing system is configured to support purchase transactions generated by merchant point-of-sale (POS) devices. Information regarding the purchase transactions is archived and periodically analyzed using machine learning to create a predictive model relating transaction attributes to bank interchange fees. The predictive model is then used to estimate interchange fees that are later passed on to merchants. This allows more accurate settlement with merchants in situations where reports regarding actual interchange fees are not yet available.
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