System and method for frequency based rewards

Abstract

In various embodiments, a frequency based reward system, method, and computer readable medium (collectively, the “System”) is provided. The System may comprise a reward program having a first portion and a second portion. The first portion may be configured to determine a first reward for a first transaction based on the amount of the transaction. The System may also be configured monitor a number of transactions associated with a transaction account. The second portion may be configured to determine a second reward in response to the number of transaction associated with a transaction account exceeding a threshold. The second reward may be a function of the total reward earned for all transactions associated with a transaction account for a period of time.

1 . A method comprising:
 determining, by a computer based system configured for administering a reward program, that a first transaction is eligible for a first portion of the reward program and a second portion of the reward program,   wherein the first transaction is one of a plurality of transactions,   wherein the reward program includes an eligibility period having a start date and an end date, and   wherein the computer based system comprises a processor and a non-transitory, tangible memory;   determining, by the computer based system, a first reward associated with an amount of the first transaction, in response to the first transaction being eligible for the first portion of the reward program;   associating, by the computer based system, the first transaction with a transaction account, in response to the first transaction being eligible for the second portion of the reward program,
 wherein a record of the first transaction is associated with the transaction account; 
   determining, by the computer based system, a second reward based on an amount of a second transaction in response to the second transaction being eligible for the first portion of the reward program;   determining, by the computer based system, that the second transaction was initiated during the eligibility period but that the transaction was settled after the end date;
 monitoring, by the computer based system, a number of transactions associated with the transaction account during the eligibility period, wherein each of the transactions associated with the transaction account were initiated during the billing period; 
   determining, by the computer based system, a bonus reward in response to the number of transactions associated with the transaction account during the eligibility period exceeding a threshold,
 wherein the bonus reward is determined as a function of a base reward earned based on the amount of the transactions associated with the transaction account during the eligibility period, and 
 wherein a total reward includes the first reward, the second reward, and the bonus reward; 
   determining, by the computer based system, that a third transaction was initiated during the eligibility period but that the third transaction was settled after the end date;   determining, by the computer based system, a third reward based on the third transaction for the first portion of the reward program and the second portion of the reward program; and   adjusting, by the computer based system, the total reward with the third reward in response to the third transaction being settled,
 wherein the adjusting occurs after the end date. 
   
     
     
         2 . The method of  claim 1 , wherein the eligibility period is a billing period. 
     
     
         3 . (canceled) 
     
     
         4 . The method of  claim 1 , wherein at least one of the first reward, the second reward, or the bonus reward are provided in reward currency. 
     
     
         5 . The method of  claim 1 , wherein the first reward and the second reward are of the same reward type. 
     
     
         6 . The method of  claim 1 , further comprising analyzing, by the computer based system, the first transaction to determine that the first transaction is associated with the eligibility period. 
     
     
         7 . The method of  claim 6 , wherein the associating with the transaction account associated with the first transaction in response to the first transaction being eligible for the second portion of the reward program is in response to the first transaction being associated with the eligibility period. 
     
     
         8 . The method of  claim 7 , wherein the first transaction is settled after the end date. 
     
     
         9 . The method of  claim 6 , wherein the first transaction is settled after the start date and before the end date. 
     
     
         10 . The method of  claim 6 , further comprising determining, by the computer based system, the time when the first transaction was initiated. 
     
     
         11 . The method of  claim 1 , wherein the second portion of the reward program is associated with the threshold. 
     
     
         12 . The method of  claim 11 , wherein the threshold is a number of transactions and a transaction amount for each of the plurality of transactions. 
     
     
         13 . The method of  claim 1 , wherein the computer based system is operated by a network connecting a point of sale to a payment processor. 
     
     
         14 . The method of  claim 1 , wherein a number of transactions eligible for the second portion of the reward program is displayed via a micro-application in real-time. 
     
     
         15 . A non-transitory computer program product having computer-executable instructions stored thereon that, if executed by a computer based system configured for administering a reward program, causes the computer based system to be capable of performing operations comprising:
 determining, by the computer based system, that a first transaction is eligible for a first portion of the reward program and a second portion of the reward program,   wherein the first transaction is one of a plurality of transactions, and   wherein the reward program includes an eligibility period having a start date and an end date;   determining, by the computer based system, a first reward associated with an amount of the first transaction, in response to the first transaction being eligible for the first portion of the reward program;   associating, by the computer based system, the first transaction with a transaction account, in response to the first transaction being eligible for the second portion of the reward program,
 wherein an record of the first transaction is associated with the transaction account; 
   determining, by the computer based system, a second reward based on the amount of a second transaction in response to the second transaction being eligible for the first portion of the reward program;   determining, by the computer based system, that the second transaction was initiated during the eligibility period but that the transaction was settled after the end date;
 monitoring, by the computer based system, a number of transactions associated with the transaction account during the eligibility period wherein each of the transactions associated with the transaction account were initiated during the billing period; 
   determining, by the computer based system, a bonus reward in response to the number of transactions associated with the transaction account during the eligibility period exceeding a threshold,
 wherein the bonus reward is determined as a function of a base reward earned based on the amount of the transactions associated with the transaction account during the eligibility period, and 
 wherein a total reward includes the first reward, the second reward, and the bonus reward; 
   determining, by the computer based system, that a third transaction was initiated during the eligibility period but that the third transaction was settled after the end date;   determining, by the computer based system, a third reward based on the third transaction for the first portion of the reward program and the second portion of the reward program; and   adjusting, by the computer based system, the total reward with the third reward in response to the third transaction being settled,
 wherein the adjusting occurs after the end date. 
   
     
     
         16 . The computer program product of  claim 15 , further comprising analyzing, by the computer based system, the first transaction to determine that the first transaction is associated with the eligibility period. 
     
     
         17 . The computer program product of  claim 16 , wherein the associating with a transaction account associated with the first transaction in response to the first transaction being eligible for the second portion of the reward program is in response to the first transaction being associated with the eligibility period. 
     
     
         18 . The computer program product of  claim 17 , wherein the first transaction is settled after the end date. 
     
     
         19 . The computer program product of  claim 15 , wherein at one of the first reward and the second reward are provided in reward currency. 
     
     
         20 . The computer program product of  claim 15 , wherein the first reward and the second reward are of the same reward type. 
     
     
         21 . A computer based system, comprising:
 a processor configured for administering a reward program;   a non-transitory memory configured to communicate with the processor, the non-transitory memory having instructions stored thereon that when executed by the processor cause the computer based system to perform operations comprising:
 determining, by the processor, that a first transaction is eligible for a first portion of the reward program and a second portion of the reward program, 
 wherein the first transaction is one of a plurality of transactions, and 
 wherein the reward program includes an eligibility period having a start date and an end date; 
 determining, by the processor, a first reward associated with an amount of the first transaction, in response to the first transaction being eligible for the first portion of the reward program; 
 associating, by the processor, the first transaction with a transaction account, in response to the first transaction being eligible for the second portion of the reward program,
 wherein an record of the first transaction is associated with the transaction account; 
 
 determining, by the processor, a second reward based on the amount of a second transaction in response to the second transaction being eligible for the first portion of the reward program; 
 determining, by the processor, that the second transaction was initiated during the eligibility period but that the transaction was settled after the end date; 
 monitoring, by the processor, a number of transactions associated with the transaction account during the eligibility period, wherein each of the transactions associated with the transaction account were initiated during the billing period; 
 determining, by the processor, a bonus reward in response to the number of transactions associated with the transaction account during the eligibility period exceeding a threshold,
 wherein the bonus reward is determined as a function of a base reward earned based on the amount of the transactions associated with the transaction account during the eligibility period, and 
 wherein a total reward includes the first reward, the second reward, and the bonus reward; 
 determining, by the processor, that a third transaction was initiated during the eligibility period but that the third transaction was settled after the end date; 
 determining, by the processor, a third reward based on the third transaction for the first portion of the reward program and the second portion of the reward program; and 
 adjusting, by the processor, the total reward with the third reward in response to the third transaction being settled,
 wherein the adjusting occurs after the end date. 
 
 
   
     
     
         22 . The system of  claim 21 , further comprising analyzing, by the processor, the first transaction to determine that the first transaction is associated with the eligibility period. 
     
     
         23 . The system of  claim 22 , wherein the associating with a transaction account associated with the first transaction in response to the first transaction being eligible for the second portion of the reward program is in response to the first transaction being associated with the eligibility period. 
     
     
         24 . The system of  claim 23 , wherein the first transaction is settled after the end date. 
     
     
         25 . The system of  claim 21 , wherein at least one of the first reward, the second reward, or the bonus reward are provided in reward currency. 
     
     
         26 . The system of  claim 21 , wherein the first reward and the second reward are of the same reward type.