Patronage incentive saving system and method for retail businesses
First Claim
1. A patronage incentive system, comprising:
- a computer system for interactive communication between a plurality of enrolled customers having access to the Internet and at least one participating retailer having at least one point-of-sale terminal, said enrolled customers purchasing a product offered by said at least one participating retailer at said at least one point-of-sale terminal thereof at a retail price, a saving software program integrated into said computer system at said at least one point-of-sale terminal of said at least one participating retailer;
a predetermined single mutual fund;
each of said customers initiating the enrollment thereof in said patronage incentive system by interacting with said saving software program through the Internet to establish a personal account associated with said each customer and to receive a predetermined identifier of said each customer;
said saving software program for;
(a) rounding up said retail price of the purchased product to a rounded price amount, (b) crediting the difference between said rounded price amount and said retail price to said personal account associated with said each enrolled customer making purchase, and (c) transferring the amounts credited to said personal accounts for said plurality of enrolled customers into a collective account for investment into said predetermined single mutual fund.
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Accused Products
Abstract
A method of doing business in a retail environment employs a patronage incentive system incorporating a rounding up saving software program which provides a customer making a purchase at a point-of-sale terminal of participating retailers with an option to round up the price of purchase to the nearest dollar (or higher), to credit the difference between the rounded and the retail price to an account once the purchase is made, and to invest the savings into a single predetermined mutual fund. The rounding up program establishes a personal account for each customer, establishes a cumulative account with the single mutual fund, interacts with the customer, and, upon the request of customer, provides the customer with the information regarding his/her account current and/or prospective.
100 Citations
33 Claims
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1. A patronage incentive system, comprising:
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a computer system for interactive communication between a plurality of enrolled customers having access to the Internet and at least one participating retailer having at least one point-of-sale terminal, said enrolled customers purchasing a product offered by said at least one participating retailer at said at least one point-of-sale terminal thereof at a retail price, a saving software program integrated into said computer system at said at least one point-of-sale terminal of said at least one participating retailer;
a predetermined single mutual fund;
each of said customers initiating the enrollment thereof in said patronage incentive system by interacting with said saving software program through the Internet to establish a personal account associated with said each customer and to receive a predetermined identifier of said each customer;
said saving software program for;
(a) rounding up said retail price of the purchased product to a rounded price amount, (b) crediting the difference between said rounded price amount and said retail price to said personal account associated with said each enrolled customer making purchase, and (c) transferring the amounts credited to said personal accounts for said plurality of enrolled customers into a collective account for investment into said predetermined single mutual fund. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15, 16, 17, 18, 19, 20, 21)
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14. A method of operating a patronage incentive system, comprising the steps of:
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providing a computer system for interactive communication between a plurality of customers and at least one retailer having at least one point-of-sale terminal, integrating a saving software program having a customer interactive indicia into said computer system at said at least one point-of-sale terminal of said at least one seller, initiating enrollment of each of said plurality of customers with said patronage incentive system by interaction of each said customer with said saving software program through the Internet to establish a personal account associated with said customer and to provide each said enrolled customer with an identification means, making a purchase by said enrolled customer of a product offered by said at least one retailer at said at least one point-of-sale terminal thereof in exchange for a retail price;
actuating said saving software program at said at least one point-of-sale terminal of said at lest one retailer by identifying said enrolled customer by said identification means, thereby authorizing said saving software program to initiate the saving process, including the steps of;
(a) rounding up said retail price to a rounded price amount, (b) crediting the difference between said rounded price amount and said retail price to said personal account of said each enrolled customer, and (c) transferring the amounts credited in each step (b) to personal accounts of said plurality of the enrolled customers to a single collective account established with a bank for periodic investment into a predetermined single mutual fund.
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22. A method of doing business in a retail environment, comprising the steps of:
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providing a computer system for interactive communication between a plurality of customers and at least one retailer having at least one point-of-sale terminal, integrating a saving software program having customer interactive indicia into said computer system at said at least one point-of-sale terminal of said at least one seller, initiating enrollment of each of said plurality of customers with said patronage incentive system by interacting by each said customer with said saving software program through the Internet to establish a personal account associated with said customer and to provide each said enrolled customer with an identification means, making a purchase by said enrolled customer of a product offered by said at least one retailer at said at least one point-of-sale terminal thereof in exchange for a retail price;
actuating said saving software program at said at least one point-of-sale terminal of said at least one retailer by identifying said enrolled customer by said identification means, thereby authorizing said saving software program to initiate the saving process, including the steps of;
(a) rounding up said retail price to a rounded price amount, (b) crediting the difference between said rounded price amount and said retail price to said personal account of said each enrolled customer, and (c) transferring the amounts credited in each step (b) to said personal accounts of said plurality of the enrolled customers to a single collective account established with a bank, and (d) investing the collective amounts transferred into said collective account in said step (c) in a predetermined single mutual fund. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29)
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30. A patronage incentive system, comprising:
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a computer system for interactive communication between a plurality of customers enrolled in said patronage incentive system and having access to the Internet, and at least one retailer participating in said patronage incentive system, said customers purchasing a respective product offered by said at least one retailer at at least one point-of-sale terminal thereof at a retail price;
a saving software program integrated into said computer system at said at least one point-of-sale terminal of said at least one participating retailer, said saving software program being interactive with each said enrolled customer through the Internet; and
,a data transmission signal generated by said computer system to be sent to a central data base indicating a rounded price amount for each customer transaction, said saving software program establishing a collective single account associated with a bank and transferring the difference between said rounded price amount and said retail price for each respective product purchased by each said enrolled customer to said collective single account for periodic investment in a predetermined single mutual fund. - View Dependent Claims (31, 32, 33)
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Specification