System and methods for redeeming rewards associated with accounts

• US 20030171992A1
• Filed: 03/10/2003
• Published: 09/11/2003
• Est. Priority Date: 04/23/1999
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Blagg, Lynn H., Lindsay, Carol A.
• Application Number:
  US10/386,027
• Publication Number:
  US 20030171992A1
• Time in Patent Office: Days
• US Class Current: 705/14
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• 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

Among other things, the present invention provides systems and methods for fulfilling reward redemptions. In some cases, the systems and methods receive redemption requests associated with an account. The redemption request can be satisfied from a reward associated with the account, or by accessing a reward associated with another account. Redeeming a reward from another account can involve transferring value from one account to another, or grouping the related accounts and allowing members of the group to perform the settlement function. Various of the systems and method further provide for performing automatic reward redemptions, either by an entity maintaining the account to which the reward is associated, or through use of a fulfillment entity.

Claims

1. A method for processing rewards, the method comprising:

identifying a reward type;

providing an earning rule associated with the reward type, wherein the earning rule governs how a reward of the reward type is earned;

providing an accrual rule associated with the reward type, wherein the accrual rule governs how the reward of the reward type is maintained;

providing a redemption rule associated with the reward type, wherein the redemption rule governs how the reward of the reward type may be redeemed, wherein the redemption rule indicates a plurality of accounts through which a redemption can be initiated; and

providing a fulfillment rule associated with the reward type;

wherein the fulfillment rule governs how a redemption of the reward of the reward type is performed.

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

a point based reward, and a cash based reward.

3. The method of claim 1, wherein the earning rule indicates that the reward of the reward type is earned whenever a defined activity is performed, and wherein the defined activity is selected from a group consisting of:

travel, and use of a presentation instrument.

4. The method of claim 1, wherein the earning rule indicates that the reward of the reward type is earned at a first rate when an activity is performed in relation to an account group, and at a second rate when an activity is performed in relation to an individual account.

5. The method of claim 4, wherein the activity is use of a presentation instrument, and wherein the first rate is greater than the second rate.

6. The method of claim 1, wherein the accrual rule indicates that the reward of the reward type is maintained in a reward pool.

7. The method of claim 6, wherein the redemption rule indicates that redemption of the reward of the reward type is limited based at least in part on the prior history of redemptions performed in relation to the reward pool.

8. The method of claim 6, wherein the redemption rule indicates that redemption of the reward of the reward type is limited based at least in part on an attribute of the reward pool.

9. The method of claim 1, wherein the accrual rule indicates that the reward of the reward type is maintained in association with an account group.

10. The method of claim 1, wherein the redemption rule indicates that the reward of the reward type can be chased.

11. The method of claim 1, wherein the redemption rule indicates that the reward of the reward type is automatically redeemed.

12. The method of claim 1, wherein the fulfillment rule indicates that the reward of the reward type is fulfilled by an enumerated fulfillment entity.

13. The method of claim 12, wherein the enumerated entity is a merchandise retailer.

14. A method for accruing frequent flyer rewards, the method comprising:

providing an account, wherein the account includes a frequent flyer reward that accrues based at least in part on activity of a first party, and wherein the account is controlled by an airline;

receiving a request to associate a second party with the account;

associating the second party with the account, wherein the frequent flyer reward accrues based at least in part on activity of the second party; and

receiving a request to redeem the reward.

15. The method of claim 14, wherein the activity of the first party is travel.

16. The method of claim 14, wherein the activity of the first party is use of a credit card.

17. A method for acquiring frequent flyer rewards, the method comprising:

providing a first account, wherein the first account includes a first frequent flyer reward that accrues based at least in part on activity of a first party;

providing a second account, wherein the second account includes a second frequent flyer reward that accrues based at least in part on activity of a second party;

associating the first account with the second account, wherein a combination of the first frequent flyer reward and the second frequent flyer reward is accessible by the first party.

18. The method of claim 17, the method further comprising:

aggregating the first frequent flyer reward and the second frequent flyer reward in a reward pool.

19. The method of claim 18, wherein the reward pool is linked with the first account.

20. The method of claim 18, wherein the first account and the second account are linked in an account group, and wherein the reward pool is linked with the account group.

21. The method of claim 17, the method further comprising:

receiving a reward redemption request from the second party, wherein satisfying the reward redemption request requires an amount greater than the second frequent flyer reward; and

accessing at least a portion of the first frequent flyer reward to satisfy the reward redemption request.

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

receiving a reward redemption request, wherein the reward redemption request indicates a reward type;

identifying an account that accrues the reward type; and

accessing a reward of the reward type to at least partially satisfy the reward redemption request.

23. The method of claim 22, wherein the account is a first account, wherein the reward is a first reward, and wherein the reward redemption request is associated with a second account, the method further comprising:

accessing a second reward of the reward type to at least partially satisfy the reward redemption request, wherein the second reward is associated with the second account.

24. The method of claim 22, wherein the account is a first account, and wherein the reward redemption request is associated with a second account, the method further comprising:

converting the reward to a common value; and

transferring the common value from the second account to the first account.

25. The method of claim 22, wherein the account is a first account, wherein the reward type is a first reward type, and wherein the reward redemption request is associated with a second account that accrues a second reward type, the method further comprising:

converting the reward of the first reward type to a common value;

converting a reward of the second reward type to the common value; and

transferring the common value from the second account to the first account.

26. The method of claim 22, wherein the account is a sick days account, and wherein the reward type is sick days.

27. The method of claim 22, wherein the account is a vacation days account, and wherein the reward type is vacation days.

28. The method of claim 22, wherein the account is a financial account.

29. The method of claim 28, wherein the reward type is selected from a group consisting of:

a point based reward and a cash based reward.

30. The method of claim 28, wherein the reward type is a reduced interest rate.

31. The method of claim 22, wherein the reward is a first reward, the method further comprising:

lending a second reward, wherein the second reward partially satisfies the reward redemption request.

32. The method of claim 31, wherein lending the reward includes defining terms of the lending, the method further comprising:

applying a penalty wherein the terms of the lending are not met.

33. The method of claim 32, wherein the terms of the lending define a period in which the second reward must be accrued.

34. The method of claim 32, wherein the account is a first account, wherein the reward redemption request is associated with a second account, and wherein the terms of the lending define a period in which the second account must remain active, such that an owner of the second account is given an incentive to maintain the second account.

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

receiving a reward redemption request associated with an account, wherein the reward redemption request includes a reward amount;

determining that the reward amount is greater than a reward associated with the account; and

pending the reward redemption request.

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

augmenting the reward associated with the account based at least in part on activity in the account.

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

determining that the reward amount is less than the reward associated with the account; and

satisfying the reward redemption request.

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

determining that the reward amount is within a predefined amount of the reward associated with the account; and

satisfying the reward redemption request.

39. The method of claim 38, wherein the predefined amount is a time period, the method further comprising:

determining a reward accrual velocity; and

wherein determining that the reward amount is within the predefined amount includes determining an estimated time until the reward amount is less than the reward associated with the account.

40. The method of claim 35, wherein the account is a first account, wherein the reward is a first reward, wherein the first account and a second account are associated in an account group, wherein a second reward associated with the second account is combined with the first reward in a reward pool, and wherein determining that the reward amount is greater than the reward associated with the first account further includes determining that the reward amount is greater than a reward available from a reward pool.

41. The method of claim 35, wherein the account is a vacation days account, and wherein the reward redemption request is for vacation days.

42. The method of claim 35, wherein the account is a financial account.

43. The method of claim 39, wherein the reward redemption request for a reward selected from a group consisting of:

frequent flyer miles, value exchangeable for merchandise, and hotel stays.

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

receiving a reward redemption request, wherein the reward redemption request includes a reward amount;

identifying an account group to which the reward redemption request applies, wherein the account group includes at least a first account and a second account;

determining the reward amount is greater than an accrued reward accessible via the account group; and

pending the reward redemption request.

45. The method of claim 44, wherein the accrued reward is maintained in a reward pool.

46. The method of claim 45, wherein the accrued reward is augmented based on activity associated with the first account.

47. The method of claim 46, wherein the accrued reward is augmented based on activity associated with the second account.

48. The method of claim 45, wherein the reward pool accrues sick days, and wherein the reward redemption request is for sick days.

49. The method of claim 45, wherein the first account and the second account are financial accounts.

50. The method of claim 49, wherein the reward redemption request for a reward selected from a group consisting of:

frequent flyer miles, value exchangeable for merchandise, and hotel stays.

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

augmenting the accrued reward based on activity associated with the first account;

determining that the reward amount is less than the augmented accrued reward; and

satisfying the reward redemption request.

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

augmenting the accrued reward based on activity associated with the first account;

determining that the reward amount is within a predefined amount of the augmented accrued reward; and

satisfying the reward redemption request.

53. The method of claim 44, wherein the predefined amount is a time period, the method further comprising:

determining a reward accrual velocity; and

wherein determining that the reward amount is within the predefined amount includes determining an estimated time until the reward amount is less than the reward associated with the account.

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

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

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

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

automatically redeeming the reward.

55. The method of claim 54, wherein redeeming the reward includes:

providing an indication to a party associated with the account that the defined reward level is achieved;

directing the party to an Internet site; and

presenting a group of options for redeeming the reward.

56. The method of claim 55, wherein redeeming the reward further comprises:

receiving an indication of an option selected by the party; and

providing the selected option to the party.

57. The method of claim 56, wherein the options are selected from a group consisting of:

cell phone minutes, mobile commerce value, merchandise, reduced interest rates, cash back, and travel rewards.

58. The method of claim 56, wherein the option selected by the party is mobile commerce value, and wherein providing the selected option includes uploading the mobile commerce value to a mobile commerce device.

59. The method of claim 54, wherein redeeming the reward includes:

providing an indication to a party associated with the account that the defined reward level is achieved;

directing the party to an phone redemption system; and

presenting a group of options for redeeming the reward.

60. The method of claim 54, wherein the account is a financial account.

61. The method of claim 60, wherein redeeming the reward comprises:

identifying an accrued reward to a fulfillment entity;

identifying the party associated with the account to the fulfillment entity;

receiving an indication that the fulfillment entity provided compensation for the accrued reward to the party associated with the account; and

deducting the accrued reward from the account.

62. The method of claim 61, wherein the fulfillment entity is a retailer providing merchandise in exchange for the accrued reward.

63. The method of claim 62, wherein the retailer performs the reward processing.

64. The method of claim 61, wherein the fulfillment entity is a group of retailers providing merchandise in exchange for the accrued reward.

65. The method of claim 61, wherein the fulfillment entity:

provides an indication to the party associated with the account that the defined reward level is achieved;

directs the party to a fulfillment mechanism; and

presents a group of options for redeeming the reward.

66. The method of claim 65, wherein the fulfillment mechanism is an Internet site maintained by the fulfillment entity.

67. The method of claim 65, wherein the fulfillment mechanism is an IVR.

68. The method of claim 60, wherein the financial account is associated with a credit card product.

69. A method for satisfying a unitary redemption request from rewards available from a plurality of accounts, the method comprising:

receiving a redemption request, wherein the redemption request identifies an amount of a reward type;

identifying a first account that accrues the reward type;

determining that the first account can only partially satisfy the amount;

identifying a second account that accrues the reward type; and

satisfying the redemption request, wherein the amount includes a first reward of the reward type from the first account and a second reward of the reward type from the second account.

70. The method of claim 69, wherein identifying the second account is done based on an indicator associated with the first account.

71. The method of claim 69, wherein identifying the second account is done in the same manner as identifying the first account.