Method and apparatus for value allocation exchange

• US 20020055874A1
• Filed: 07/18/2001
• Published: 05/09/2002
• Est. Priority Date: 11/03/2000
• Status: Active Grant

• Current Assignee: Cohen, Robert H.
• Original Assignee: Cohen, Robert H.
• Inventors: Cohen, Robert H.
• Granted Patent: US 8,527,331 B2
• Time in Patent Office: Days
• US Class Current: 705/14
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0227 Frequent usage incentive value reconciliation between diverse systems
• CPC Class Codes: G06Q 30/0228 On-line clearing houses
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A value allocation brokerage and exchange system. In one embodiment, the value allocation brokerage and exchange system comprises a broker server used to buy and sell points over the Internet. The broker system is operably coupled to a local area network over a communications link. The local area network includes a database server hosted by a database host, with the database server maintaining a database of recent Internet point transactions. The broker server receives requests from users to exchange points with respect to a plurality of potential point systems.

Claims

1. A computer based value exchange system, the value exchange system exchanging points from a first point system to a second point system after receiving a request from a user having points in the first point system and desiring points in the second point system, the first point system being maintained by a first entity allocating points redeemable for merchandise and the second point system being maintained by a second entity allocating points redeemable for merchandise, the computer based value exchange system comprising:

a computer coupled to the Internet, the computer programmed to;

receive a request from a user for an exchange of a number of points from the first point system to the second point system; and

determine an exchange ratio for exchanging points from the first point system with points from the second point system.

2. The computer based value exchange system of claim 1 wherein the computer is programmed to determine an exchange ratio for exchanging points from the first point system with points from the second point system by interrogating a database of point exchange ratios.

3. The computer based value exchange system of claim 1 wherein the computer is programmed to determine an exchange ratio for exchanging points from the first point system with points from the second point system by requesting a purchase price for the number of points from the first entity and by requesting a sale price of points for approximate the purchase price from the second entity.

4. The computer based value exchange system of claim 3 wherein the sale price is less than the purchase price.

5. The computer based value exchange system of claim 2 wherein the database of point exchange ratios is a database of recent transactions of point exchanges from the first point system to the second point system.

6. The computer based value exchange system of claims 2,3,4, or 5 further comprising causing transfer of points in the first point system from the user and causing transfer of points in the second point system to the user.

7. The computer based value exchange system of claim 6 wherein the transfer of points in the first point system from the user comprises transfer of points to a third entity.

8. The computer based value exchange system of claim 6 wherein the transfer of points in the first point system from the user comprises redemption of the points to the first entity.

9. The computer based value exchange system of claim 6 further comprising a clearing house computer, the clearing house computer receiving requests for transfers from the computer and programmed to effect transfers of points from the user to the first entity, transfer of points to the user from the second entity, and allocate credit to the third entity.

10. A points brokerage method comprising:

receiving a request for a quote from a user;

querying a transaction database for a type and quantity of points;

obtaining pricing data for the type and quantity of points from the transaction database; and

determining a price for the type and quantity of points.

11. A method of transferring points, the method comprising:

receiving a request for a transfer of a number of points from one type of points to another type of points; and

determining an exchange price for the transfer of points.

12. The method of transferring points of claim 11 further comprising:

purchasing a number of points from a point system for the another type of points based on the exchange price and selling the number of points to a points system for the one type of points.