Smart wallet

Abstract

A service provider provides one or more “best” total value suggestions for one or more items specified by a user. The suggestions are based on one or more of user preferences, user location, available funding options, available local merchant incentives, available manufacturer incentives, and local merchants offering the item. In one embodiment, the “best” total value is the lowest price available to the user. The user may make a purchase using a suggestion or a revised suggestion.

1 . A system comprising:
 a memory storing account information for a plurality of users, wherein the account information comprises a user identifier, user preferences, user funding sources, and/or user incentives;   a processor operable to:
 receive an indication of a desire by a user to purchase an item; 
 access, by a payment provider, an account of the user with the payment provider; 
 determine a mix of one or more of a plurality of funding instruments and incentives available to the user for purchase of the item from a specific merchant based on at least one of user preferences, item information, and location of the user; and 
 process the payment using the one or more funding instruments and incentives. 
   
     
     
         2 . The system of  claim 1 , wherein to determine is based in part on the user preferences. 
     
     
         3 . The system of  claim 1 , wherein the plurality of funding instruments comprises one or more of credit cards, debit cards, gift cards, and coupons associated with the user. 
     
     
         4 . The system of  claim 1 , wherein the incentives comprise nonuser specific local merchant incentives and manufacturer incentives. 
     
     
         5 . The system of  claim 1 , wherein the mix results in the lowest price for the item. 
     
     
         6 . The system of  claim 1 , wherein to determine is based, in part, on the location of a user. 
     
     
         7 . The system of  claim 1 , wherein the processor is further operable to determine available manufacturer incentives and local merchant incentives for the item. 
     
     
         8 . The system of  claim 1 , wherein the processor is further operable to receive a revised one or more funding instruments, a revised one or more incentives, or a revised merchant from the user and processing the payment using the revised one or more funding instruments, the revised one or more incentives, or the revised merchant. 
     
     
         9 . A method for performing a payment transaction using a user device, comprising:
 receiving, electronically by a processor of a payment provider, an indication of a desire by a user to purchase an item;   accessing, by the processor, an account of the user with the payment provider;   determining, by the processor, a mix of one or more of a plurality of funding instruments and incentives available to the user for purchase of the item from a specific merchant based on at least one of user preferences, item information, and location of the user; and   processing the payment using the one or more funding instruments and incentives.   
     
     
         10 . The method of  claim 9 , wherein the plurality of funding instruments comprises one or more of credit cards, debit cards, gift cards, and coupons associated with the user. 
     
     
         11 . The method of  claim 9 , wherein the incentives comprise non-user specific local merchant incentives and manufacturer incentives. 
     
     
         12 . The method of  claim 9 , wherein the mix results in the lowest price for the item. 
     
     
         13 . The method of  claim 9 , further comprising determining available manufacturer incentives and local merchant incentives for the item. 
     
     
         14 . A non-transitory machine-readable medium comprising a plurality of machine-readable instructions which when executed by one or more processors of a server are adapted to cause the server to perform a method comprising:
 receiving an indication of a desire by a user to purchase an item;   accessing an account of the user with the payment provider;   determining a mix of one or more of a plurality of funding instruments and incentives available to the user for purchase of the item from a specific merchant based on at least one of user preferences, item information, and location of the user; and   processing the payment using the one or more funding instruments and incentives.   
     
     
         15 . The non-transitory machine-readable medium of  claim 14 , wherein the determining is based in part on the user preferences. 
     
     
         16 . The non-transitory machine-readable medium of  claim 14 , wherein the plurality of funding instruments comprises one or more of credit cards, debit cards, gift cards, and coupons associated with the user. 
     
     
         17 . The non-transitory machine-readable medium of  claim 14 , wherein the incentives comprise non-user specific local merchant incentives and manufacturer incentives. 
     
     
         18 . The non-transitory machine-readable medium of  claim 14 , wherein the mix results in the lowest price for the item. 
     
     
         19 . The non-transitory machine-readable medium of  claim 14 , wherein to determine is based, in part, on the location of a user. 
     
     
         20 . The non-transitory machine-readable medium of  claim 14 , wherein the method further comprises determining available manufacturer incentives and local merchant incentives for the item. 
     
     
         21 . The non-transitory machine-readable medium of  claim 14 , wherein the method further comprises receiving a revised one or more funding instruments, a revised one or more incentives, or a revised merchant from the user and processing the payment using the revised one or more funding instruments, the revised one or more incentives, or the revised merchant. 
     
     
         22 . The non-transitory machine-readable medium of  claim 14 , wherein determining the mix of one or more of a plurality of funding instruments comprises determining which funding instruments were used previously at a specific merchant.