Method and system for calculating reward earned from transactions for voucher or stored value for transactions and method of redeeming the voucher or stored value

• US 20050049965A1
• Filed: 08/11/2004
• Published: 03/03/2005
• Est. Priority Date: 09/03/2003
• Status: Abandoned Application

• Current Assignee: I-Cheng Jen
• Original Assignee: I-Cheng Jen
• Inventors: Jen, I-Cheng
• Application Number:
  US10/916,149
• Publication Number:
  US 20050049965A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/00 Commerce

Abstract

This invention relates to a method and system for exchanging reward earned from transactions for voucher or stored value for transactions and method of redeeming the voucher or stored value, the system including a primary unit provided at a place where a service provider is located, and a secondary unit provided at where a franchisee is located. When a purchase is made by the consumer at a franchisee designated by the service provider, reward will accumulate and the reward may be exchanged for voucher or stored value when the reward is accumulated to a predetermined amount. In exchanging for the voucher or stored value, the voucher or stored value must be registered at the primary unit of the service provider or deposited in a stored value account. During redemption of the voucher or stored value, the validity of the voucher or balance of the stored value is first automatically affirmed to deter counterfeiting activities.

Claims

1. A method of exchanging reward earned from transactions for voucher or stored value for transactions, to be implemented in a system having a primary unit provided at the place where a service provider is located, and at least one secondary unit provided at the place where a franchisee'"'"'s store is located, the method comprising the steps of:

entering ID information of a consumer through the at least one secondary unit;

entering an amount of voucher or stored value that the consumer intends to exchange through the at least one secondary unit;

exchanging the reward contained in the consumer'"'"'s reward account for the amount of voucher or stored value that the consumer intends to exchange at the primary unit;

registering the exchanged voucher or depositing the exchanged stored value into the consumer'"'"'s stored value account at the primary unit; and

deducting the reward earned by the consumers that is equivalent to the exchanged amount from the consumer'"'"'s reward account at the primary unit.

2. The method of claim 1, further comprising the steps of verifying a password and affirming the ID information of the consumer at the primary unit.

3. The method of claim 1, wherein the step of registering the exchanged voucher further includes the steps of entering and storing the ID information of the exchanged voucher.

4. The method of claim 1, wherein the voucher is in the form of paper.

5. The method of claim 1, wherein the stored value is in the form of E-wallet.

6. The method of claim 1, further comprising the step of offering the consumer at the primary unit additional reward or offering the consumer at the franchisee a gift when a purchase is made by the consumer within a designated period of time.

7. The method of claim 1, further comprising the step of providing from the primary unit information relevant to the processed reward, voucher or stored value to the secondary unit.

8. A method of redeeming voucher exchanged with reward earned from transactions, to be implemented in a system having a primary unit provided at the place where a service provider is located, and at least one secondary unit provided at the place where a franchise store is located, the method comprising the steps of:

entering ID information of a consumer through the at least one secondary unit;

entering information of the voucher that the consumer intends to redeem and information relevant to the current transaction through the at least one secondary unit;

affirming whether the voucher that the consumer intends to redeem has been registered at the primary unit;

balancing the current transaction with the voucher that the consumer intends to redeem upon affirming that the voucher has been registered at the primary unit; and

voiding the voucher that the consumer intends to redeem at the primary unit.

9. The method of claim 8, further comprising the steps of verifying a password and affirming the ID information of the consumer at the primary unit.

10. The method of claim 8, further comprising the step of offering the consumer at the primary unit additional reward or offering the consumer at the franchisee a gift when a purchase is made by the consumer within a designated period of time.

11. The method of claim 8, further comprising the step of providing from the primary unit information relevant to the processed reward or voucher to the secondary unit.

12. A method of redeeming stored value exchanged with reward earned from transactions, to be implemented in a system having a primary unit provided at the place where a service provider is located, and at least one secondary unit provided at where a franchisee is located, the method comprising the steps of:

entering ID information of a consumer through the at least one secondary unit;

entering information of the stored value that the consumer intends to redeem and information relevant to the current transaction through the at least one secondary unit;

affirming whether the stored value deposited in the consumer'"'"'s stored value account is sufficient at the primary unit;

balancing the current transaction with the stored value that consumers intends to redeem upon affirming that the stored value deposited in the consumer'"'"'s stored value account is sufficient at the primary unit; and

deducting the stored value those consumers intends to redeem with the stored value deposited in the consumer'"'"'s stored value account at the primary unit.

13. The method of claim 12, further comprising the steps of verifying a password and affirming the ID information of the consumer at the primary unit.

14. The method of claim 12, further comprising the step of offering the consumer at the primary unit additional reward or offering the consumer at the franchise store a gift when a purchase is made by the consumer within a designated period of time.

15. The method of claim 12, further comprising the step of providing from the primary unit information relevant to the processed reward or stored value to the secondary unit.