Systems, methods and devices for conducting transactions with portable electronic devices using virtual points

Abstract

Systems, methods, devices and computer program products are disclosed for conducting transactions using a portable electronic device. A method of executing a software application on a portable electronic device includes: determining, via the portable electronic device, a location of the device; displaying, via the portable electronic device's display, a plurality of merchants within a predetermined proximity of the device's location; receiving, via a user input device, a selection corresponding to at least one of the merchants; displaying, via the display device, a balance of virtual rewards points available for redemption by the user of the device; displaying, via the display device, an exchange value of the virtual rewards points for making a purchase associated with the selected merchant; and, responsive to a purchase request received via the user input device, authorizing deduction of the exchange value from the balance of the virtual rewards points and providing confirmation of the purchase.

What is claimed is: 
     
         1 . A method of executing a software application on a portable electronic device with a display device and a user input device, the method comprising:
 determining, via the portable electronic device, a location of the portable electronic device;   displaying, via the display device, a plurality of merchants within a predetermined proximity of the location of the portable electronic device;   displaying, via the display device, a selection corresponding to at least one of the merchants;   displaying, via the display device, a balance of virtual rewards points available for redemption by a user;   displaying, via the display device, an exchange value of the virtual rewards points for making a purchase associated with the selected at least one merchant; and   in response to a purchase request received via the user input device, authorizing deduction of the exchange value from the balance of the virtual rewards points and providing confirmation of the purchase associated with the selected at least one merchant.   
     
     
         2 . The method of  claim 1 , wherein the purchase includes a card value for a gift card associated with the selected at least one merchant, and wherein the confirmation of the purchase includes confirmation that the card value is added to an account associated with the gift card. 
     
     
         3 . The method of  claim 2 , wherein the account associated with the gift card is a preexisting gift card account associated with the user. 
     
     
         4 . The method of  claim 2 , further comprising receiving, via the user input device, an instruction to deliver the gift card to someone other than the user. 
     
     
         5 . The method of  claim 2 , wherein the gift card is a virtual gift card, and wherein the confirmation of the purchase includes displaying, via the display device of the portable electronic device, a representation of the virtual gift card. 
     
     
         6 . The method of  claim 5 , wherein the purchase further is for a good or a service, or both, from the selected at least one merchant, and wherein the purchase is completed, at least in part, with information transferred at a Point-of-Sale system via the displayed virtual gift card. 
     
     
         7 . The method of  claim 1 , wherein the purchase is for a good or a service, or both, from the selected at least one merchant, and wherein the purchase is completed, at least in part, via the software application on the portable electronic device. 
     
     
         8 . The method of  claim 1 , wherein the displaying the plurality of merchants includes arranging the merchants in a hierarchy based, at least in part, on a distance of each of the merchants from the location of the portable electronic device. 
     
     
         9 . The method of  claim 8 , wherein the displayed hierarchy of merchants is automatically updated in response to a determination that the portable electronic device moved to a new location different from the location. 
     
     
         10 . The method of  claim 1 , wherein the displaying the plurality of merchants includes displaying on a map a respective location of each of the merchants and the location of the portable electronic device relative to the plurality of merchants. 
     
     
         11 . The method of  claim 1 , wherein the displaying the plurality of merchants includes displaying respective distance and location information corresponding to each of the merchants. 
     
     
         12 . The method of  claim 1 , wherein the predetermined proximity within which the merchants are located is selected by the user. 
     
     
         13 . The method of  claim 1 , wherein the plurality of merchants is a subset of a group of participating merchants, the method further comprising:
 receiving, via the user input device, a selection of the group of participating merchants; and   in response to a request received via the user input device, converting a selected number of virtual rewards points into a gift card associated with the selected participating merchant.   
     
     
         14 . The method of  claim 1 , further comprising:
 displaying a plurality of user-selectable purchases; and   receiving, via the user input device, a selection of one of the user selectable purchases, wherein the displayed exchange value corresponds to a respective exchange value of the selected-user selectable purchase.   
     
     
         15 . The method of  claim 1 , wherein the software application is a dedicated mobile device application downloaded via the user to the portable electronic device. 
     
     
         16 . A computer program product for a portable electronic device, the computer program product comprising one or more non-transient computer-readable media including instructions which, when executed by one or more processors, cause the one or more processors to operate with one or more input devices and one or more display devices to:
 display a plurality of merchants within a predetermined proximity of a predetermined location of the portable electronic device;   display a selection corresponding to at least one of the merchants;   display a balance of virtual rewards points available for redemption by a user;   display an exchange value of the virtual rewards points for making a purchase associated with the selected at least one merchant; and   in response to receipt of an indication of a purchase request, authorize a deduction of the exchange value from the balance of the virtual rewards points and provide confirmation of the purchase associated with the selected at least one merchant.   
     
     
         17 . A system for conducting a commercial transaction using a portable electronic device with a display device and a user input device, the system comprising:
 one or more processors communicatively coupled to the portable electronic device; and   a dedicated software application on the portable electronic device, the dedicated software application being configured to:
 in cooperation with the display device, display a plurality of merchants within a predetermined proximity of a determined location of the portable electronic device; 
 receive, from the user input device, an indication of a selection corresponding to at least one of the merchants; 
 receive, from the one or more processors, data indicative of a balance of virtual rewards points available for redemption by a user; 
 in cooperation with the display device, display the balance, one or more purchases that can be acquired with the balance of virtual rewards points, and, for each of the displayed one or more purchases, a corresponding exchange value of the virtual rewards points for making the purchase from the selected at least one merchant; 
 receive, from the user input device, an indication of a purchase request for at least one of the one or more purchases; and 
 in response to the purchase request, send a signal to the one or more processors to deduct the exchange value from the balance of the virtual rewards points and complete the purchase with the selected at least one merchant. 
   
     
     
         18 . The system of  claim 17 , wherein the one or more purchases include a card value for a gift card associated with the selected at least one merchant, and wherein the completing the purchase includes confirming the card value is added to an account associated with the gift card. 
     
     
         19 . The system of  claim 18 , wherein the account associated with the gift card is a preexisting gift card account associated with the user. 
     
     
         20 . The system of  claim 18 , wherein the gift card is a virtual gift card, and wherein the completing the purchase includes displaying, via the display device of the portable electronic device, the virtual gift card. 
     
     
         21 . The system of  claim 20 , wherein the one or more purchases is for a good or a service, or both, from the selected at least one merchant, and wherein the completing the purchase is based, at least in part, on information transferred at a Point-of-Sale system via the displayed virtual gift card. 
     
     
         22 . The system of  claim 17 , wherein the one or more purchases is for a good or a service, or both, from the selected at least one merchant, and wherein the purchase is completed, at least in part, via the dedicated software application on the portable electronic device. 
     
     
         23 . The system of  claim 17 , wherein the displaying the plurality of merchants includes arranging the merchants in a hierarchy based, at least in part, on a distance of each of the merchants from the location of the portable electronic device. 
     
     
         24 . The system of  claim 23 , wherein the displayed hierarchy of merchants is automatically updated in response to a determination that the portable electronic device moved to a new location. 
     
     
         25 . The system of  claim 17 , wherein the displaying the plurality of merchants includes displaying respective distance and location information corresponding to each of the merchants. 
     
     
         26 . A method of automatically converting rewards points to a virtual prepaid instrument using a portable electronic device having a display device and a user input device, the method comprising:
 receiving over a wireless network at a portable electronic device a balance of rewards points associated with a user account stored on a points provider server remote from the portable electronic device, the rewards points being non-currency and convertible by a user of the user account to an amount of currency commensurate with the balance of reward points;   responsive to receiving the balance of the reward points, receiving from the user input device an indication of a desired amount of currency to exchange for a corresponding number of the rewards points;   the portable electronic device communicating over the wireless network the desired amount of currency and a merchant identification directly or through a host server to a stored value prepaid instrument provider server, the merchant identification being associated with a merchant at which a good or a service at a point-of-sale terminal at a physical location of the merchant is offered for purchase or exchange, the prepaid instrument provider server (a) being remote from the points provider server such that an issuer of the rewards points is a distinct entity from an issuer of a virtual prepaid instrument, (b) generating a code associated with the virtual prepaid instrument, and (c) associating with the code at least the desired amount of currency as a stored value associated with the virtual prepaid instrument;   displaying on the display device a representation of the code and the stored value associated with the virtual prepaid instrument;   in response to the representation of the code being presented at the point-of-sale terminal for purchasing the good or the service for a purchase price, deducting the purchase price from the stored value to produce a modified stored value and displaying the modified stored value on the display device; and   the portable electronic device communicating over the wireless network the purchase price or the modified stored value directly or through the host server to the prepaid instrument provider server to cause the prepaid instrument provider server to modify the stored value to the modified stored value.   
     
     
         27 . The method of  claim 26 , wherein the portable electronic device communicates directly or through the host server with the prepaid instrument provider server via an application programming interface associated with the prepaid instrument provider using a software application residing on the portable electronic device. 
     
     
         28 . The method of  claim 27 , wherein the communicating the desired amount of currency and the merchant identification includes requesting an authorization from the points provider server for a deduction of the corresponding number of the reward points and receiving from the points provider server an indication as to whether the requested authorization was approved. 
     
     
         29 . The method of  claim 27 , further comprising receiving directly or through the host server from the prepaid instrument provider server an indication that the virtual prepaid instrument has been activated by the prepaid instrument provider server and, responsive to receiving the indication that the virtual prepaid instrument has been activated, the portable electronic device communicating to the points provider server a request to deduct the corresponding number of the reward points. 
     
     
         30 . The method of  claim 26 , further comprising:
 determining a maximum denomination of currency available for conversion from the balance of the reward points based on a conversion rate between a reward point and a corresponding amount of currency; and   displaying on the display device a plurality of denominations of currency, including the maximum denomination, available for selection by the user, wherein the desired amount of currency corresponds to one of the denominations of currency or an amount of currency entered by the user via the user input device that does not exceed a maximum amount of currency corresponding to the balance of the reward points based on the conversion rate.   
     
     
         31 . The method of  claim 26 , wherein the code includes a barcode that is presented on the display device to a barcode scanner at the point-of-sale terminal. 
     
     
         32 . The method of  claim 26 , wherein the issuer of the rewards points and the issuer of the virtual prepaid instrument are not affiliated with one another. 
     
     
         33 . A method of automatically exchanging rewards points using a portable electronic device having a display device and a user input device, the method comprising:
 receiving over a wireless network at a portable electronic device a balance of rewards points associated with a user account stored on a points provider server remote from the portable electronic device, the rewards points being non-currency and convertible by a user of the user account to an amount of currency commensurate with the balance of reward points;   responsive to receiving the balance of the reward points, receiving from the user input device an indication of a desired amount of currency to exchange for a corresponding number of the rewards points;   the portable electronic device communicating to a host server over the wireless network the desired amount of currency and a merchant identification, the merchant identification being associated with a merchant having a point-of-sale terminal at a physical location of the merchant, the host server being remote from the points provider server and operated by an entity different from an entity that operates the points provider server;   storing on the host server the desired amount of currency as a stored value;   displaying on the display device a representation of the code and the stored value;   in response to the representation of the code being presented at the point-of-sale terminal for an item of value, deducting the value of the item from the stored value to produce a modified stored value and displaying the modified stored value on the display device; and   the portable electronic device communicating to the host server over the wireless network the modified stored value to cause the host server to modify the stored value to the modified stored value.   
     
     
         34 . The method of  claim 33 , wherein the item of value is a good or a service offered for purchase at the physical location of the merchant or a promotional item redeemable at the physical location of the merchant. 
     
     
         35 . The method of  claim 33 , further comprising communicating with the point-of-sale terminal via near field communication (NFC) to complete a subsequent transaction.