US 12,307,434 B2
Systems and methods for dynamically switching payment mechanisms for outgoing payments
Raghu Vudathu, Downingtown, PA (US); Christy Lillie, Ann Arbor, MI (US); Joe Martei, Brooklyn, NY (US); Bodhi Hwang, Forest Hills, NY (US); Justin Dupont, Huntersville, NC (US); and Mark Lanter, Woodside, NY (US)
Assigned to JPMORGAN CHASE BANK, N.A., New York, NY (US)
Filed by JPMORGAN CHASE BANK, N.A., New York, NY (US)
Filed on Nov. 23, 2022, as Appl. No. 18/058,322.
Prior Publication US 2024/0169336 A1, May 23, 2024
Int. Cl. G06Q 20/22 (2012.01); G06Q 20/10 (2012.01)
CPC G06Q 20/227 (2013.01) [G06Q 20/10 (2013.01)] 19 Claims
OG exemplary drawing
 
1. A method for dynamically identifying payment mechanisms for outgoing payments, comprising:
receiving, by a payment mechanism selection computer program, a payment request from an electronic device associated with a payor to pay a payee comprising payment parameters;
presenting, by the payment mechanism selection computer program, a plurality of payment features to the payor electronic device;
receiving, by the payment mechanism computer program and from the payor electronic device, a selection of a subset of the plurality of payment features and a ranking of the payment features in the subset, wherein the subset of the plurality of payment features and the ranking of the payment features in the subset are associated with a payor payment intent;
predicting, by the payment mechanism selection computer program and using a machine learning engine that is trained with historical transactions to identify payment intents from the payment features, a payor payment intent from the selection and the ranking of the subset of payment features;
dynamically disabling, by the payment mechanism selection computer program, selection of one of the plurality of payment features that are inconsistent with the payor payment intent, wherein the one payment feature is dynamically disabled by removing the one payment feature from the presentation of the plurality of payment features, or by graying-out the one payment feature in the presentation of the plurality of payment features where the one payment feature cannot be selected;
identifying, by the payment mechanism selection computer program, a plurality of available payment mechanisms based on the payment parameters;
selecting, by the payment mechanism selection computer program, a selected payment mechanism from the plurality of available payment mechanisms that is consistent with the payor payment intent; and
executing, by the payment mechanism selection computer program, the payment using the selected payment mechanism.