DESC:RELATED APPLICATION

Benefit is claimed to Indian Provisional Application No. 948/CHE/2014 titled “METHOD AND SYSTEM FOR MANAGING DUE PAYMENTS OF A USER” filed on 25th February 2014, which is herein incorporated in its entirety by reference for all purposes.

FIELD OF INVENTION

The present invention generally relates to the field of managing and tracking personal finances and more particularly relates to a method and system for managing due payments using communication device.

BACKGROUND OF THE INVENTION

Payment of bills to various service providers has become a cumbersome process where customers often fail to pay the bill within the specified time. Nowadays, customers receive many SMS’s from banks, DTH operators, LIC, mobile operators to intimate the due amount of the bills. Due to the busy schedule, most of the times the customers tend to forget the payments of the bills in time and end up with heavy penalties. Consequently, CIBIL rating of each individual will get effected which affects possibility of getting a loan approval from the banks.

Hence, there is a need of a method and system for managing the bill due dates and help each individual to organize their finances for avoiding heavy penalties.

SUMMARY

An objective of present invention is to managing due payments using communication device.

One aspect of present invention discloses a method of managing due payments using a communication device. The method comprising identifying one or more messages related to due payment from a plurality of messages received at the communication device, parsing the one or more identified messages by the communication device and generating and storing alert message in the communication device based on the time and geographic location details of the parsed one or more messages. The method of managing due payments using a communication device further comprising popping-up the stored alert message in the communication device at corresponding time and location related to the generated alert, building a database in the communication device using user activities related to payment due dates and online transaction credentials of user and enabling the user to make payment using one touch process on the communication device. The alert generated is corresponding to one message is based on point of interest of user, identified by the communication device.

The method of generating an alert in the communication device comprises method steps of preparing a list of points of interest by the communication device based on location and activity details of the user and filtering one or more points of interest from the list of points of interest corresponding to the identified message for generating an alert.

Another aspect of present invention discloses a system of managing due payments using a communication device. The system comprises a message identifying unit for identifying one or more messages related to due payment from a plurality of messages received at the communication device, a parsing unit for parsing the one or more identified messages by the communication device and an alert generating unit for generating an alert in the communication device based on the time and geographic location details of the parsed one or more messages.

BRIEF DESRIPTION OF THE ACCOMPANYING DRAWINGS

The aforementioned aspects and other features of the present invention will be explained in the following description, taken in conjunction with the accompanying drawings, wherein:

Figure 1 illustrates a schematic representation of generating managing due payments using communication device by generating alert, according to one embodiment of present invention.
Figure 2 is a flow diagram illustrating method of managing due payments using communication device according to one embodiment of present invention.
Figure 3 is a schematic illustration depicting point of interest based on location details of the user, according to one embodiment of present invention.
Figure 4 illustrates a geofencing area and the threshold corresponding to the geofencing area.
Figure 5 is a block diagram illustrating a system for managing due payments using communication device according to one embodiment of present invention

DETAILED DESCRIPTION OF THE INVENTION

The embodiments of the present invention will now be described in detail with reference to the accompanying drawings. However, the present invention is not limited to the embodiments. The present invention can be modified in various forms. Thus, the embodiments of the present invention are only provided to explain more clearly the present invention to the ordinarily skilled in the art of the present invention. In the accompanying drawings, like reference numerals are used to indicate like components.

The specification may refer to “an”, “one” or “some” embodiment(s) in several locations. This does not necessarily imply that each such reference is to the same embodiment(s), or that the feature only applies to a single embodiment. Single features of different embodiments may also be combined to provide other embodiments.

As used herein, the singular forms “a”, “an” and “the” are intended to include the plural forms as well, unless expressly stated otherwise. It will be further understood that the terms “includes”, “comprises”, “including” and/or “comprising” when used in this specification, specify the presence of stated features, integers, steps, operations, elements and/or components, but do not preclude the presence or addition of one or more other features integers, steps, operations, elements, components, and/or groups thereof. It will be understood that when an element is referred to as being “connected” or “coupled” to another element, it can be directly connected or coupled to the other element or intervening elements may be present. Furthermore, “connected” or “coupled” as used herein may include operatively connected or coupled. As used herein, the term “and/or” includes any and all combinations and arrangements of one or more of the associated listed items.

Unless otherwise defined, all terms (including technical and scientific terms) used herein have the same meaning as commonly understood by one of ordinary skill in the art to which this disclosure pertains. It will be further understood that terms, such as those defined in commonly used dictionaries, should be interpreted as having a meaning that is consistent with their meaning in the context of the relevant art and will not be interpreted in an idealized or overly formal sense unless expressly so defined herein.

Figure 1 illustrates a schematic representation 100 of generating managing due payments using communication device by generating alert, according to one embodiment of present invention. The communication device of the user receives SMS and email messages regarding due payments of the user. The communication device includes but not limited to mobile phone, tablet and any communication device. The banks and other service providers intimate the customers regarding the due dates and bill payment details via SMS and/or Emails. The communication device generates an alert message by parsing afore said messages. The alert message according to one embodiment of present invention is based on the due date and location details of the user. In the present invention, the point of interest of the user is continuously monitored and a database is built using the location details. Likewise, the corresponding payment due and different option to make the payments based on the points of interest is also learned continuously by the communication device. Thus, the communication device gives a pop up alert to the user based on the learning performed by the communication device.
Figure 2 is a flow diagram illustrating method 200 of managing due payments using communication device, according to one embodiment of present invention. The communication device of the user receives an incoming message from any bank or service providers in the form of SMS or Email as shown in step 201. Typically the received message of the user includes the payment details, mode of payments and the details of payee. Hence, from the messages related to due payments are identified from the messages received in the communication device of the user at step 202. Further, at step 203, it is determined whether the message is identified as a message related to payment due or not. The identified messages are parsed in order to get the details of the due payment.
Simultaneously, the location identification mechanisms present in the communication device detects the points of interest of the user based on his location as shown at step 205. Further, at step 206, the points of interest of user are filtered from the listed point of interests, for instance, the number of visits of the user at places such as home, office, market place etc. The filtered list of points of interest is also used to generate an alert message corresponding to the payment due at step 207. For example, consider that one of the point of interest of the user is office. Hence, the generated alert message may contain the different payment option that is available near office.
Likewise, each of the location for payment of bills such as banks or ATMs has a geofence location. Afore said goefence location have a pre-defined threshold area around it. The available payment details are fetched from the geofence database at step 209. The location of the user is monitored continuously as shown in step 208. Based on the location of the user and the pending payments, the alert message generated by the user is popped up as shown in step 210.
Figure 3 is a schematic illustration depicting the point of interest based on location details of the user, according to one embodiment of present invention. The figure indicates the geofence location and location history of the user. For instance, according to one exemplary embodiment, the user visits the work place 15 times and home 8 times. The available payment location along with geofence icon is shown in the figure.
For example, the user needs to pay due amount on CITI bank credit card, the method according to one embodiment of present invention queries a list of CITI banks as point of interest (POI) options. Once the list of POI’s is prepared, the user location history is checked and the frequency of his visits to a particular place is determined. Further, the POI is filtered by applying a standard deviation to get the best POI which is closer to his past visited locations.
Similarly, an alert message is also generated for the organizer/memo or Task/events that are stored in communication device by choosing the best POI. Likewise, if user is travelling, then based on the events stored in organizer, the list of POI’s can be generated around his visiting place and can choose it as a best POI to alert the user.
Figure 4illustrates a geofencing area and the threshold corresponding to the geofencing area. Each location can have a pre-defined threshold area based on the requirement of the user. In an exemplary embodiment of present invention, once the user enters the threshold area of the location, a pop up is generated in order to alert the payment option available is that particular area.
Figure 5 is a block diagram illustrating a system for managing due payments using communication device according to one embodiment of present invention. According to one exemplary embodiment of present invention, the system for managing due payments using communication device comprises message identification unit 501, detail extraction unit 502, alert generation unit 503, point of interest identification unit 504, location history 505, geofence database 507 and alert message pop up unit 506.
The message identification unit 501 according to one embodiment of present invention identifies the messages related to payment dues from messages received in the communication device of the user. The messages can be SMS or emails. The message identification unit 501 is coupled with a detail extraction unit 502. The detail extraction unit 502 extracts the detail from the identified messages. An alert message is generated using the extracted details in the alert message generating unit 503 coupled with the detailed extraction unit. The alert message generating unit 503 is connected to a point of interest identification unit 504. The point of interest is identified based on the location history of the user. The location history is stored in the location history database 505. The alert message generating unit 503 is connected to the alert message pop up unit 506. The alert message pop up unit enables the pop up of the alert messages based on the goefence database 507.
Although the invention of the method and system has been described in connection with the embodiments of the present invention illustrated in the accompanying drawings, it is not limited thereto. It will be apparent to those skilled in the art that various substitutions, modifications and changes may be made thereto without departing from the scope and spirit of the invention. ,CLAIMS:
1. A method of managing one or more due payment using a communication device comprising:
identifying one or more messages related to the one or more due payments from a plurality of messages received at the communication device;
parsing the one or more identified messages by the communication device; and
generating and storing one or more alert messages in the communication device based on time and geographic location details of the parsed one or more messages.

2. The method as claimed in claim 1, further comprising:
popping-up the one or more stored alert messages in the communication device at corresponding time and location related to a generated alert.

3. The method as claimed in claim 1, wherein the alert corresponding to one message is based on point of interest of user, identified by the communication device.

4. The method as claimed in claim 2, wherein generating an alert in the communication device comprising:
preparing a list of points of interest by the communication device based on location and activity details of the user; and
filtering one or more points of interest from the list of points of interest corresponding to the identified message for generating an alert.

5. The method as claimed in claim 1, further comprising
building a database in the communication device using user activities related to payment due dates and online transaction credentials of user.

6. The method as claimed in claim 1, further comprising
enabling the user to make payment using one touch process on the communication device.

7. A system of managing one or more due payments using a communication device comprising:
a message identifying unit for identifying one or more messages related to the one or more due payments from a plurality of messages received at the communication device;
a parsing unit for parsing the one or more identified messages by the communication device; and
an alert generating unit for generating an alert in the communication device based on time and geographic location details of the parsed one or more messages.