US2013191202A1PendingUtilityA1
Method and system for a reward point exchange with issuer-merchant redemptions
Est. expiryJan 14, 2029(~2.5 yrs left)· nominal 20-yr term from priority
Inventors:Richard Postrel
G06Q 30/0226G06Q 30/02Y02P90/02G06Q 30/0228G06Q 30/0233
69
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Claims
Abstract
An online reward exchange system, including an exchange computer that interoperates with user computers, reward point issuer computers, and merchant computers. The merchants' products may be purchased by a user by requesting via a user computer, merchant's point of sale device, or mobile device an issuer(s) to redeem reward points in exchange for payment to the merchant for the product. The exchange computer manages various transactions such as providing online product catalogs to users that list the merchants products, as well as displaying to the user the reward points he has available in his reward programs with the issuers. Once a user selects a desired product the exchange computer can mediate or manage the purchase transaction in which reward points are redeemed by the selected issuer and consideration is conveyed to the merchant in exchange for the product.
Claims
exact text as granted — not AI-modifiedWhat is claimed is:
1 . A method for operating a reward exchange system comprising:
an exchange computer receiving from a user operating a user computer
a selection of an item to be purchased via the exchange computer from a merchant computer associated with a merchant, and
a selection of a reward account to be used for a reward redemption transaction as payment towards the item from the merchant computer, the reward account stored on an issuer computer associated with an issuer and comprising reward points earned by the user as a result of a transaction previously executed between the user and the issuer; and
the exchange computer executing the reward redemption transaction for the item by redeeming a designated quantity of reward points from the reward account, only if
the merchant has previously agreed to execute reward redemption transactions with the issuer, and
the issuer has previously agreed to execute reward redemption transactions with the merchant.
2 . The method of claim 1 wherein the user computer is a mobile device.
3 . The method of claim 1 wherein the user computer is a smartphone.
4 . The method of claim 1 wherein the user computer is a tablet.
5 . The method of claim 1 wherein the user computer is a laptop computer.
6 . The method of claim 1 wherein the user computer is a desktop computer.
7 . The method of claim 1 in which the exchange computer executes the reward redemption transaction by the steps of:
the exchange computer requesting the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the exchange computer corresponding to the designated quantity of reward points reduced from the reward account; and
the exchange computer conveying consideration to the merchant computer in exchange for the merchant providing to the user the selected item.
8 . The method of claim 1 in which the exchange computer executes the reward redemption transaction by the steps of:
the exchange computer transmitting to the merchant computer an identification of the item selected by the user, an identification of the reward account selected by the user, and the designated quantity of reward points to be redeemed from the reward account; and
the exchange computer instructing the merchant computer to request the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the merchant computer corresponding to the designated quantity of reward points in exchange for the merchant providing to the user the selected item.
9 . The method of claim 1 further comprising the steps of
the exchange computer generating a proposed redemption solution that designates at least one reward program previously registered in the exchange computer by the user and a quantity of reward points to be redeemed for the purchase of the item by the user; and
the exchange computer providing the proposed redemption solution to the user computer;
wherein the exchange computer receives from the user computer the selection of the reward account to be used for the reward redemption transaction to pay for the item from the merchant computer in response to the proposed redemption solution provided by the exchange computer to the user computer.
10 . The method of claim 9 further comprising the exchange computer receiving from the user computer an acceptance of the proposed redemption solution.
11 . The method of claim 9 further comprising the exchange computer receiving from the user computer a modification of the proposed redemption solution.
12 . The method of claim 9 further comprising the exchange computer determining the proposed redemption solution by analyzing each of a plurality of reward accounts previously registered by the user with the exchange computer and with which the merchant has previously agreed to execute reward redemption transactions with the issuer associated with the reward account.
13 . The method of claim 9 further comprising the exchange computer generating the proposed redemption solution by referencing a user profile stored in an associated user profile database that indicates user preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
14 . The method of claim 9 further comprising the exchange computer determining the proposed redemption solution by analyzing prior reward redemptions by the user stored in an associated reward redemption database to ascertain a preferred reward program.
15 . The method of claim 9 further comprising the exchange computer determining the proposed redemption solution by ascertaining by reference to a merchant profile database a preferred redemption partner of the merchant from which the user is making the item purchase,
16 . The method of claim 9 further comprising the exchange computer determining the proposed redemption solution by referencing an exchange rules profile stored in an exchange rules profile database that indicates exchange preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
17 . The method of claim 9 further comprising the exchange computer determining the proposed redemption solution by referencing an issuer rules profile stored in an issuer rules profile database that indicates issuer preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
18 . The method of claim 17 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer before redeeming reward points of issuers other than the primary issuer.
19 . The method of claim 17 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer after redeeming reward points of issuers other than the primary issuer.
20 . The method of claim 17 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer up to a specified amount, after which the points of issuers other than the primary issuer will be redeemed
21 . The method of claim 17 wherein the issuer preferences comprise a preference to redeem the reward points of a issuers other than a primary issuer up to a specified amount, after which the points of the primary issuer will be redeemed.
22 . The method of claim 1 wherein the reward redemption transaction provides full payment for the item.
23 . The method of claim 1 wherein the reward redemption transaction provides partial payment for the item, and wherein additional consideration is made by the user in order to make full payment for the item.
24 . The method of claim 23 wherein the additional consideration is obtained from at least one additional reward redemption transaction executed by the exchange computer in which the exchange computer redeems an additional designated quantity of reward points from an additional reward account associated with an additional issuer, only if
the merchant has previously agreed to execute reward redemption transactions with the additional issuer, and
the additional issuer has previously agreed to execute reward redemption transactions with the merchant.
25 . A reward exchange system comprising an exchange computer programmed to:
receive from a user operating a user computer
a selection of an item to be purchased via the exchange computer from a merchant computer associated with a merchant, and
a selection of a reward account to be used for a reward redemption transaction as payment towards the item from the merchant computer, the reward account stored on an issuer computer associated with an issuer and comprising reward points earned by the user as a result of a transaction previously executed between the user and the issuer; and
execute the reward redemption transaction for the item by redeeming a designated quantity of reward points from the reward account, only if
the merchant has previously agreed to execute reward redemption transactions with the issuer, and
the issuer has previously agreed to execute reward redemption transactions with the merchant.
26 . The reward exchange system of claim 25 wherein the user computer is a mobile device.
27 . The reward exchange system of claim 25 wherein the user computer is a smartphone.
28 . The reward exchange system of claim 25 wherein the user computer is a tablet.
29 . The reward exchange system of claim 25 wherein the user computer is a laptop computer.
30 . The reward exchange system of claim 25 wherein the user computer is a desktop computer.
31 . The reward exchange system of claim 25 in which the exchange computer is programmed to execute the reward redemption transaction by the steps of:
the exchange computer requesting the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the exchange computer corresponding to the designated quantity of reward points reduced from the reward account; and
the exchange computer conveying consideration to the merchant computer in exchange for the merchant providing to the user the selected item.
32 . The reward exchange system of claim 25 in which the exchange computer is programmed to execute the reward redemption transaction by the steps of:
the exchange computer transmitting to the merchant computer an identification of the item selected by the user, an identification of the reward account selected by the user, and the designated quantity of reward points to be redeemed from the reward account; and
the exchange computer instructing the merchant computer to request the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the merchant computer corresponding to the designated quantity of reward points in exchange for the merchant providing to the user the selected item.
33 . The reward exchange system of claim 25 wherein the exchange computer is further programmed to
generate a proposed redemption solution that designates at least one reward program previously registered in the exchange computer by the user and a quantity of reward points to be redeemed for the purchase of the item by the user; and
provide the proposed redemption solution to the user computer;
wherein the exchange computer receives from the user computer the selection of the reward account to be used for the reward redemption transaction to pay for the item from the merchant computer in response to the proposed redemption solution provided by the exchange computer to the user computer.
34 . The reward exchange system of claim 33 wherein the exchange computer is further programmed to receive from the user computer an acceptance of the proposed redemption solution.
35 . The reward exchange system of claim 33 wherein the exchange computer is further programmed to receive from the user computer a modification of the proposed redemption solution.
36 . The reward exchange system of claim 33 wherein the exchange computer is further programmed to generate the proposed redemption solution by analyzing each of a plurality of reward accounts previously registered by the user with the exchange computer and with which the merchant has previously agreed to execute reward redemption transactions with the issuer associated with the reward account.
37 . The reward exchange system of claim 33 further comprising an associated user profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing a user profile stored in the associated user profile database that indicates user preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
38 . The reward exchange system of claim 33 further comprising an associated reward redemption database, wherein the exchange computer is further programmed to generate the proposed redemption solution by analyzing prior reward redemptions by the user stored in the associated reward redemption database to ascertain a preferred reward program.
39 . The reward exchange system of claim 33 further comprising a merchant profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by ascertaining by reference to the merchant profile database a preferred redemption partner of the merchant from which the user is making the item purchase.
40 . The reward exchange system of claim 33 further comprising an exchange rules profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing an exchange rules profile stored in the exchange rules profile database that indicates exchange preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
41 . The reward exchange system of claim 33 further comprising an issuer rules profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing an issuer rules profile stored in the issuer rules profile database that indicates issuer preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
42 . The reward exchange system of claim 41 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer before redeeming reward points of issuers other than the primary issuer.
43 . The reward exchange system of claim 41 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer after redeeming reward points of issuers other than the primary issuer.
44 . The reward exchange system of claim 41 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer up to a specified amount, after which the points of issuers other than the primary issuer will be redeemed.
45 . The reward exchange system of claim 41 wherein the issuer preferences comprise a preference to redeem the reward points of a issuers other than a primary issuer up to a specified amount, after which the points of the primary issuer will be redeemed.
46 . The reward exchange system of claim 25 wherein the exchange computer is programmed to accept the reward redemption transaction as full payment for the item.
47 . The reward exchange system of claim 25 wherein the exchange computer is programmed to
accept the reward redemption transaction as partial payment for the item, and
accept additional consideration made by the user in order to make full payment for the item.
48 . The reward exchange system of claim 47 wherein the exchange computer is programmed to accept additional consideration made by the user in order to make full payment for the item by executing at least one additional reward redemption transaction in which the exchange computer redeems an additional designated quantity of reward points from an additional reward account associated with an additional issuer, only if
the merchant has previously agreed to execute reward redemption transactions with the additional issuer, and
the additional issuer has previously agreed to execute reward redemption transactions with the merchant.
49 . A method for operating a reward exchange system comprising:
an exchange computer receiving from a point of sale device associated with a merchant
a selection of an item to be purchased by a user from the merchant, and
a selection of a reward account to be used for a reward redemption transaction as payment towards the item from the merchant, the reward account stored on an issuer computer associated with an issuer and comprising reward points earned by the user as a result of a transaction previously executed between the user and the issuer; and
the exchange computer executing the reward redemption transaction for the item by redeeming a designated quantity of reward points from the reward account, only if
the merchant has previously agreed to execute reward redemption transactions with the issuer, and
the issuer has previously agreed to execute reward redemption transactions with the merchant.
50 . The method of claim 49 wherein the point of sale device is a cash register terminal.
51 . The method of claim 49 wherein the point of sale device is a kiosk.
52 . The method of claim 49 wherein the point of sale device is a mobile device.
53 . The method of claim 49 in which the exchange computer executes the reward redemption transaction by the steps of:
the exchange computer requesting the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the exchange computer corresponding to the designated quantity of reward points reduced from the reward account; and
the exchange computer conveying consideration to the point of sale device in exchange for the merchant providing to the user the selected item.
54 . The method of claim 49 in which the exchange computer executes the reward redemption transaction by instructing the point of sale device to request the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the point of sale device corresponding to the designated quantity of reward points in exchange for the merchant providing to the user the selected item.
55 . The method of claim 49 further comprising the steps of
the exchange computer generating a proposed redemption solution that designates at least one reward program previously registered in the exchange computer by the user and a quantity of reward points to be redeemed for the purchase of the item by the user; and
the exchange computer providing the proposed redemption solution to the point of sale device;
wherein the exchange computer receives from the point of sale device the selection of the reward account to be used for the reward redemption transaction to pay for the item in response to the proposed redemption solution provided by the exchange computer to the point of sale device.
56 . The method of claim 55 further comprising the exchange computer receiving from the point of sale device an acceptance of the proposed redemption solution.
57 . The method of claim 55 further comprising the exchange computer receiving from the point of sale device a modification of the proposed redemption solution.
58 . The method of claim 55 further comprising the exchange computer determining the proposed redemption solution by analyzing each of a plurality of reward accounts previously registered by the user with the exchange computer and with which the merchant has previously agreed to execute reward redemption transactions with the issuer associated with the reward account.
59 . The method of claim 55 further comprising the exchange computer generating the proposed redemption solution by referencing a user profile stored in an associated user profile database that indicates user preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
60 . The method of claim 55 further comprising the exchange computer determining the proposed redemption solution by analyzing prior reward redemptions by the user stored in an associated reward redemption database to ascertain a preferred reward program.
61 . The method of claim 55 further comprising the exchange computer determining the proposed redemption solution by ascertaining by reference to a merchant profile database a preferred redemption partner of the merchant from which the user is making the item purchase,
62 . The method of claim 55 further comprising the exchange computer determining the proposed redemption solution by referencing an exchange rules profile stored in an exchange rules profile database that indicates exchange preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
63 . The method of claim 55 further comprising the exchange computer determining the proposed redemption solution by referencing an issuer rules profile stored in an issuer rules profile database that indicates issuer preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
64 . The method of claim 63 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer before redeeming reward points of issuers other than the primary issuer.
65 . The method of claim 63 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer after redeeming reward points of issuers other than the primary issuer.
66 . The method of claim 63 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer up to a specified amount, after which the points of issuers other than the primary issuer will be redeemed.
67 . The method of claim 63 wherein the issuer preferences comprise a preference to redeem the reward points of a issuers other than a primary issuer up to a specified amount, after which the points of the primary issuer will be redeemed.
68 . The method of claim 49 wherein the reward redemption transaction provides full payment for the item.
69 . The method of claim 49 wherein the reward redemption transaction provides partial payment for the item, and wherein additional consideration is made by the user in order to make full payment for the item.
70 . The method of claim 69 wherein the additional consideration is obtained from at least one additional reward redemption transaction executed by the exchange computer in which the exchange computer redeems an additional designated quantity of reward points from an additional reward account associated with an additional issuer, only if
the merchant has previously agreed to execute reward redemption transactions with the additional issuer, and
the additional issuer has previously agreed to execute reward redemption transactions with the merchant.
71 . A reward exchange system comprising an exchange computer programmed to:
receive from a point of sale device associated with a merchant
a selection of an item to be purchased by a user from the merchant, and
a selection of a reward account to be used for a reward redemption transaction as payment towards the item from the merchant, the reward account stored on an issuer computer associated with an issuer and comprising reward points earned by the user as a result of a transaction previously executed between the user and the issuer; and
execute the reward redemption transaction for the item by redeeming a designated quantity of reward points from the reward account, only if
the merchant has previously agreed to execute reward redemption transactions with the issuer, and
the issuer has previously agreed to execute reward redemption transactions with the merchant.
72 . The reward exchange system of claim 71 wherein the point of sale device is a cash register terminal.
73 . The reward exchange system of claim 71 wherein the point of sale device is a kiosk.
74 . The reward exchange system of claim 71 wherein the point of sale device is a mobile device.
75 . The reward exchange system of claim 71 in which the exchange computer is programmed to execute the reward redemption transaction by the steps of:
the exchange computer requesting the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the exchange computer corresponding to the designated quantity of reward points reduced from the reward account; and
the exchange computer conveying consideration to the point of sale device in exchange for the merchant providing to the user the selected item.
76 . The reward exchange system of claim 71 in which the exchange computer is programmed to execute the reward redemption transaction by instructing the point of sale device to request the issuer computer to reduce the reward account by the designated quantity of reward points and convey consideration to the point of sale device corresponding to the designated quantity of reward points in exchange for the merchant providing to the user the selected item.
77 . The reward exchange system of claim 71 wherein the exchange computer is further programmed to
generate a proposed redemption solution that designates at least one reward program previously registered in the exchange computer by the user and a quantity of reward points to be redeemed for the purchase of the item by the user; and
provide the proposed redemption solution to the point of sale device;
wherein the exchange computer receives from the point of sale device the selection of the reward account to be used for the reward redemption transaction to pay for the item in response to the proposed redemption solution provided by the exchange computer to the point of sale device.
78 . The reward exchange system of claim 77 wherein the exchange computer is further programmed to receive from the user computer an acceptance of the proposed redemption solution.
79 . The reward exchange system of claim 77 wherein the exchange computer is further programmed to receive from the user computer a modification of the proposed redemption solution.
80 . The reward exchange system of claim 77 wherein the exchange computer is further programmed to generate the proposed redemption solution by analyzing each of a plurality of reward accounts previously registered by the user with the exchange computer and with which the merchant has previously agreed to execute reward redemption transactions with the issuer associated with the reward account.
81 . The reward exchange system of claim 77 further comprising an associated user profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing a user profile stored in the associated user profile database that indicates user preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
82 . The reward exchange system of claim 77 further comprising an associated reward redemption database, wherein the exchange computer is further programmed to generate the proposed redemption solution by analyzing prior reward redemptions by the user stored in the associated reward redemption database to ascertain a preferred reward program.
83 . The reward exchange system of claim 77 further comprising a merchant profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by ascertaining by reference to the merchant profile database a preferred redemption partner of the merchant from which the user is making the item purchase.
84 . The reward exchange system of claim 77 further comprising an exchange rules profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing an exchange rules profile stored in the exchange rules profile database that indicates exchange preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
85 . The reward exchange system of claim 77 further comprising an issuer rules profile database, wherein the exchange computer is further programmed to generate the proposed redemption solution by referencing an issuer rules profile stored in the issuer rules profile database that indicates issuer preferences as to which of a plurality of reward programs is desired to be used for reward redemption.
86 . The reward exchange system of claim 85 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer before redeeming reward points of issuers other than the primary issuer.
87 . The reward exchange system of claim 85 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer after redeeming reward points of issuers other than the primary issuer.
88 . The reward exchange system of claim 85 wherein the issuer preferences comprise a preference to redeem the reward points of a primary issuer up to a specified amount, after which the points of issuers other than the primary issuer will be redeemed.
89 . The reward exchange system of claim 85 wherein the issuer preferences comprise a preference to redeem the reward points of a issuers other than a primary issuer up to a specified amount, after which the points of the primary issuer will be redeemed.
90 . The reward exchange system of claim 71 wherein the exchange computer is programmed to accept the reward redemption transaction as full payment for the item.
91 . The reward exchange system of claim 71 wherein the exchange computer is programmed to
accept the reward redemption transaction as partial payment for the item, and
accept additional consideration made by the user in order to make full payment for the item.
92 . The reward exchange system of claim 91 wherein the exchange computer is programmed to accept additional consideration made by the user in order to make full payment for the item by executing at least one additional reward redemption transaction in which the exchange computer redeems an additional designated quantity of reward points from an additional reward account associated with an additional issuer, only if
the merchant has previously agreed to execute reward redemption transactions with the additional issuer, and
the additional issuer has previously agreed to execute reward redemption transactions with the merchant.Join the waitlist — get patent alerts
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