Pooling rewards associated with accounts

• US 20030135438A1
• Filed: 03/10/2003
• Published: 07/17/2003
• Est. Priority Date: 04/23/1999
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Lindsay, Carol A., Blagg, Lynn Holm
• Application Number:
  US10/386,373
• Publication Number:
  US 20030135438A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The present invention is directed to a method for linking accounts corresponding to different products together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. The method links the accounts into a group by linking a financial record for each account to group master data for the group. The group master data includes information about the group, including group control settings, aggregate data, and a group identifier. A group typically includes a key account and one or more dependent accounts. The relationship between a dependent account and the group is specified by a dependent strategy. A dependent strategy specifies group level processing options for the account. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Alternative embodiments will be apparent to those skilled in the art to which the present invention pertains without departing from its spirit and scope. Accordingly, the scope of the present invention is described by the appended claims and is supported by the foregoing description.

Claims

1. A method for pooling rewards earned in relation to a first account and a second account, the method comprising:

determining that pooling can be applied to a first reward associated with the first account;

determining that pooling can be applied to a second reward associated with the second account; and

combining the first and second rewards to form a reward pool.

2. The method of claim 1, wherein the first account and the second account are included in an account group, and wherein the reward pool is accessible to one or more members of the account group.

3. The method of claim 2, wherein the first account is a dependent account, and wherein a dependent strategy associated with the first account governs access to the reward pool.

4. The method of claim 2, wherein the first account is a dependent account, and wherein a dependent strategy associated with the first account governs inclusion of the first reward into the reward pool.

5. The method of claim 1, wherein the first and second accounts are members of an account group, and wherein combining the first and second rewards to form a reward pool includes:

accessing a first dependent strategy associated with the first account, wherein the first dependent strategy allows for combining the first reward with the reward pool; and

accessing a second dependent strategy associated with the second account, wherein the second dependent strategy allows for combining the second reward with the reward pool.

6. The method of claim 2, wherein the first and second accounts are dependent accounts, wherein a key account is associated with the account group, and wherein the reward pool is associated with the key account.

7. The method of claim 5, wherein a third reward associated with the key account is combined with the reward pool.

8. The method of claim 1, wherein the first reward is selected from a group consisting of:

point based rewards, and cash based rewards.

9. The method of claim 8, wherein the point based rewards are selected from a group consisting of:

frequent flyer miles, discount points, insurance benefits, and merchandise.

10. The method of claim 1, wherein the first reward and the second reward are of similar types.

11. The method of claim 1, the method further comprising:

determining that pooling cannot be applied to a third reward associated with a third account; and

based at least in part on the determination, maintaining the third reward in association with the third account.

12. The method of claim 11, wherein determining that pooling cannot be applied to a third reward associated with a third account includes:

accessing a dependent strategy associated with the third account, wherein the dependent strategy indicates that the third reward is not to be combined with the reward pool.

13. The method of claim 11, wherein determining that pooling cannot be applied to a third reward associated with a third account includes:

accessing a provider of the third reward, wherein the provider of the third reward does not allow the third reward to be pooled with other rewards.

14. The method of claim 13, wherein the third reward is associated with a first reward program, and wherein the third account is also associated with a second reward program, and wherein the second reward program does allow pooling.

15. The method of claim 1, wherein the reward pool is associated with an account group, the method further including:

linking the second account to the account group; and

adding the second reward to the reward pool.

16. The method of claim 1, wherein the first account and the second account are linked in an account group, and wherein the reward pool is associated with the account group, the method further comprising:

delinking the first account from the account group, wherein the first reward remains associated with the reward pool.

17. The method of claim 1, wherein the first account and the second account are linked in an account group, and wherein the reward pool is associated with the account group, the method further comprising:

delinking the first account from the account group, wherein the first reward is reassociated with the first account and dissociated with the reward pool.

18. The method of claim 1, the method further comprising:

augmenting the first reward based upon activity in the first account; and

augmenting the second reward based upon activity in the second account.

19. A method for redeeming rewards, the method comprising:

combining a first reward associated with a first account and a second reward associated with a second account into a reward pool;

receiving a redemption request from an owner of the first account, wherein the redemption request requires a reward greater than the first reward; and

accessing the reward pool to satisfy the redemption request.

20. The method of claim 19, wherein the first account and the second account are associated in an account group, and wherein the reward pool is associated directly with the account group, and not via an account within the account group.

21. The method of claim 19, wherein the first account and the second account are associated in an account group, wherein the first account is a key account in the account group, and wherein the reward pool is associated with the first account.

22. The method of claim 19, wherein the first account and the second account are associated in an account group, and wherein the first account is a dependent account within the account group, the method further comprising:

accessing a dependent strategy associated with the first account, wherein the dependent strategy governs access to the reward pool via the first account.

23. The method of claim 19, the method further comprising:

determining that the first account is associated with an account group; and

determining that the reward pool is associated with the account group.

24. The method of claim 19, the method further comprising:

comparing the reward of the redemption request with the total available reward of the reward pool.

25. The method of claim 19, wherein the redemption request is associated with a reward program, the method further comprising:

determining that the reward program does not permit combining the first reward and the second reward; and

denying the redemption request where the redemption request requires a reward greater than the first reward.

26. The method of claim 19, wherein the redemption request is a first redemption request, the method further comprising:

subsequent to the first redemption request, receiving a second redemption request from an owner of the second account;

comparing a reward required to satisfy the second redemption request with the reward pool, wherein the reward associated with the first redemption request was previously deducted from the reward pool; and

satisfying the second redemption request where the reward pool includes rewards greater than or equal to the reward required to satisfy the second redemption request.

27. The method of claim 20, wherein the account group further comprises a third account, and wherein the reward pool does not include a reward from the third account, the method further comprising:

receiving a redemption request associated with the third account; and

accessing the reward pool to satisfy the redemption request.

28. The method of claim 19, wherein the first reward is of a common type to the second reward.

29. The method of claim 23, wherein the redemption request is automatically generated based at least in part on the amount of reward available in the reward pool.

30. The method of claim 19, the method further comprising:

distributing a reward associated with the redemption request, wherein distributing the reward includes distributing the reward to an owner of an account associated with the account group.

31. A method for redeeming rewards, the method comprising:

providing a first account, wherein the first account is associated with a first party and a reward;

receiving a request to add a second party to the first account;

adding the second party to the first account, wherein the second party is associated with a pre-existing reward, and wherein the pre-existing reward is added to the reward; and

receiving a request to redeem the reward, wherein the request is initiated by the second party.

32. The method of claim 31, the method further comprising:

redeeming the reward based at least in part on the request to redeem the reward.

33. The method of claim 31, wherein the reward is a first reward, wherein the second party is associated with a second account that is associated with a second reward, wherein the request to redeem the reward includes a unified request to redeem at least portions of the first and second rewards, the method further comprising:

redeeming at least portions of the first and second rewards based at least on the unified request.

34. A method for providing rewards associated with accounts, the method comprising:

identifying a first account associated with a first reward;

identifying a second account associated with a second reward; and

associating the first reward with the second reward in a reward pool.

35. The method of claim 34, the method further comprising:

augmenting the reward pool on activity in the first account.

36. The method of claim 35, the method further comprising:

augmenting the reward pool based on activity in the second account.

37. The method of claim 34, the method further comprising:

determining that pooling can be applied to the first reward.

38. The method of claim 34, wherein the first account and the second account are included in an account group, and wherein the reward pool is linked to the account group.

39. The method of claim 38, wherein a dependent strategy at least partially governs the interaction of the first account with the account group, and wherein the dependent strategy indicates that the first reward can be combined into the account group.

40. The method of claim 34, wherein the first reward is selected from a group consisting of:

a point based reward and a cash based reward.

41. The method of claim 34, wherein the first reward and the second reward are of a common type.

42. A method for making rewards accessible, the method comprising:

identifying a reward associated with a first owner;

receiving a redemption request from a second owner; and

accessing the reward and satisfying the redemption request from the second owner.

43. The method of claim 42, the method further comprising:

augmenting the reward based on activity in the first account.

44. The method of claim 43, the method further comprising:

augmenting the reward based on activity in the second account.

45. The method of claim 42, wherein the first account and the second account are included in an account group, and wherein the reward is linked to the account group.

46. The method of claim 45, wherein a dependent strategy at least partially governs the interaction of the first account with the account group, and wherein the dependent strategy indicates that the reward is to be linked to the account group.

47. The method of claim 42, wherein the first account and the second account are included in an account group, and wherein the reward remains linked to the first account.

48. The method of claim 47, wherein the first account is a key account within the account group.

49. The method of claim 42, wherein the reward is selected from a group consisting of:

frequent flyer miles, discount points, value applicable to certain purchases, insurance benefits, and merchandise.

50. An automated method for redeeming rewards, the method comprising:

monitoring activity associated with an account group, wherein the account group is associated with a reward pool;

augmenting the reward pool based at least in part on the monitored activity;

determining that the augmented reward pool has achieved a defined level; and

automatically redeeming at least a portion of the reward pool.

51. The method of claim 50, wherein the automatically redeemed portion is redeemed to an owner of a key account within the account group.

52. The method of claim 50, wherein the automatically redeemed portion is redeemed to an owner of an account within the account group.