Financial transaction system with saving benefit
First Claim
1. A financial transaction system utilized by a plurality of participating consumers and benefit sponsors comprising:
- (a) establishing an investment account for the benefit of a participating consumer;
(b) administering the investment account in a manner that the investment account is entitled to accumulate income and gain on a tax deferred basis;
(c) providing a plurality of benefit sponsors that offer goods and services to the participating consumer;
(d) establishing an authorized payment method for the sale of said goods and services to the participating consumer;
(e) tracking the qualifying activity that results in the participating consumer being entitled to receive a deposit into or a disbursement from said investment account; and
(f) providing a specified benefit to the participating consumer for utilizing the authorized payment method when purchasing goods and services, said benefit comprising a deposit into the participating consumer'"'"'s investment account.
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Accused Products
Abstract
A rebate program for the benefit of participating individuals such as wage earners. Participating individuals apply and are approved and are issued a card with an identifiable account number using credit approval systems. The card may be a debit, smart card, customer loyalty and security features. The rebate is calculated and transferred to the participant'"'"'s account in a trust fund. The card may also be used to engage in other financial transactions. The system may include a wide range of retail merchants as well as professional services available to the participant. Funds are disbursed to the participant upon the occurrence of certain specified events.
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Citations
47 Claims
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1. A financial transaction system utilized by a plurality of participating consumers and benefit sponsors comprising:
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(a) establishing an investment account for the benefit of a participating consumer;
(b) administering the investment account in a manner that the investment account is entitled to accumulate income and gain on a tax deferred basis;
(c) providing a plurality of benefit sponsors that offer goods and services to the participating consumer;
(d) establishing an authorized payment method for the sale of said goods and services to the participating consumer;
(e) tracking the qualifying activity that results in the participating consumer being entitled to receive a deposit into or a disbursement from said investment account; and
(f) providing a specified benefit to the participating consumer for utilizing the authorized payment method when purchasing goods and services, said benefit comprising a deposit into the participating consumer'"'"'s investment account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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45. A computer-based system operated for the benefit of a plurality of participating consumers and benefit sponsors comprising:
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(a) means for acquiring required data for each participating consumer;
(b) means for acquiring required data for each benefit sponsor;
(c) means for acquiring the data required to track the qualifying activity of each participating consumer;
(d) means for storing the data described in (a) through (c);
(e) means for processing the data described in (a) through (c) such that investment account benefits are calculated;
(f) means for reporting the results of (e) to participating consumers, benefit sponsors and investment account custodians;
(g) means for responding to inquiries from participating consumers;
(h) means for responding to inquiries from benefit sponsors;
(i) means for acquiring the data necessary to, track, approve, and report on an addition to or a disbursement from an investment account;
(j) means for implementing an addition to or a disbursement from an investment account; and
(k) means in (a) through (j) comprised of coded instructions that are executed by a group of computers. - View Dependent Claims (46, 47)
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Specification