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Abstract

A system and method for generating a notification of a price change for a transaction and facilitating an associated price adjustment based on electronic image capture of a paper receipt. An image capture system captures an electronic image of a paper transaction receipt, which is transmitted to a data extraction processor that extracts transaction receipt data from the captured electronic image. A unique key is generated that is matched to a transaction record to generate a reliability score for the OCRed image and to authorize price matching. If the price monitoring server identifies that the price of a purchased transaction item has changed, the price monitoring server automatically generates a notification to the user indicating the price change and an email to the customer service department of the merchant from which the transaction item was purchased, requesting a price adjustment that is credited back to the payment instrument.

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