Method and system for redeemable vouchers using an insurance model
First Claim
1. A method for redeeming a merchant-issued voucher having a potential future value and redeemable during a voucher redemption period, comprising:
- receiving from said merchant voucher issuance information;
receiving from said merchant merchant fees;
during an investment period, investing an investment amount representing a percentage of said merchant fees, in order to generate an investment revenue amount;
following said investment period, receiving a total redeemable amount for said voucher redemption period, representing said investment amount and a percentage of said investment revenue amount;
during said voucher redemption period, for at least some of said issued vouchers, receiving a voucher claim for said potential future voucher value; and
processing said voucher claim using said voucher issuance information, to pay out, from said total redeemable amount, a payout amount up to said potential future value.
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Abstract
A method for redeeming a merchant-issued voucher having a potential future value and redeemable during a voucher redemption period is provided. A merchant provides voucher issuance information and merchant fees for a voucher redemption period. During an investment period, an investment amount is invested representing a percentage of the merchant fees, in order to generate an investment revenue amount. Following the investment period, a total redeemable amount is received for the voucher redemption period, representing the investment amount and a percentage of the investment revenue amount. During the voucher redemption period, for at least some of the issued vouchers, receiving a voucher claim for the potential future voucher value and processing the voucher claim using the voucher issuance information, to pay out, from the total redeemable amount, a payout amount up to the potential future voucher value.
85 Citations
14 Claims
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1. A method for redeeming a merchant-issued voucher having a potential future value and redeemable during a voucher redemption period, comprising:
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receiving from said merchant voucher issuance information;
receiving from said merchant merchant fees;
during an investment period, investing an investment amount representing a percentage of said merchant fees, in order to generate an investment revenue amount;
following said investment period, receiving a total redeemable amount for said voucher redemption period, representing said investment amount and a percentage of said investment revenue amount;
during said voucher redemption period, for at least some of said issued vouchers, receiving a voucher claim for said potential future voucher value; and
processing said voucher claim using said voucher issuance information, to pay out, from said total redeemable amount, a payout amount up to said potential future value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for redeeming merchant-issued vouchers having a potential future value, comprising:
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a voucher registration unit for receiving voucher issuance information;
a voucher program storage unit for recording said voucher issuance information;
a funds management unit for receiving merchant fees and for distributing a total redeemable amount as a payout amount to said voucher recipients;
a risk management unit for providing a risk assessment associated with redeeming said potential future value for said vouchers during said voucher redemption period;
an insurance unit receiving an investment amount as a percentage of said merchant fees for investment in accordance with said risk assessment and providing, at the end of an investment period, said investment amount and an investment revenue amount to said funds management unit; and
a claim processing unit receiving claims for at least some of said merchant-issued vouchers and determining said payout amount up to said potential future voucher value. - View Dependent Claims (12, 13, 14)
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Specification