Mastercard Incorporated
FAIR PRICE ESTIMATOR

Abstract:

A fair price estimator system has a memory device and a processor programmed to receive historical transaction data including historical payment transactions between account holders and merchants. The transaction data includes a merchant name, category code (MCC), and location associated with each of the payment transactions. The processor generates a first subset of data based on predetermined transaction parameters and stores the first subset in the memory device. The processor receives, from a consumer, a first input value including one or more of a merchant name and/or an MCC that are included in the first subset of data, and a second input value including a location identifier. The processor generates a second subset of data from the first subset based on the input values. The processor then determines one or more transaction value properties of the second subset of data and presents to the consumer the one or more transaction value properties.