Innovative system for analysing payment means and automatically activating discounts

Abstract

The invention relates to a smart electronic system for automatically managing and activating discounts during payment. The system is based on linking consumer data (such as national identification number, mobile phone number, and bank card or digital wallet details) to central databases of banking and non-banking offers and discounts. An authentication engine matches the consumer data to the databases, then a smart comparison module selects the best available discount. The discount is automatically applied to the payment at points of sale or in electronic payment portals, and the consumer is immediately notified of the discount applied. The system can be integrated with banks, digital wallets, communications companies, loyalty programmes and work places, and also comprises data protection mechanisms using encryption and multifactor authentication. The invention enables maximum benefit from discounts without manual intervention by the consumer, which enhances the payment experience and the effectiveness of commercial offers for banks and businesses.

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