System and method for providing rapid rebate payments
First Claim
1. An accelerated rebate processing method, comprising:
- determining disbursement options for an authorized rebate, wherein said disbursement options include one or more rapid rebates, each of which is less than said authorized rebate;
presenting said disbursement options to a consumer;
receiving a response from said consumer indicating a selection of a rapid rebate; and
sending a rebate payment corresponding to said rapid rebate to said consumer, wherein said rebate payment fulfills said authorized rebate.
1 Assignment
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Accused Products
Abstract
Embodiments of the invention provide a method and system that has the ability to allow consumers to process rebates on-line and receive the rebate on an accelerated basis in exchange for assigning the rebate to a third party. One embodiment of the invention provides the consumer with a disbursement option to accept less than the original rebate amount from the rebate sponsor in exchange for a significant reduction in time to collect the rest. The exchange can be done transparent to the rebate sponsor. Another embodiment of the invention provides the consumer with an assignment option to transfer the right to collect the rebate to a third party in exchange for a rapid payment. In this embodiment, the third party manages the collection of the rebate from the rebate sponsor.
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Citations
20 Claims
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1. An accelerated rebate processing method, comprising:
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determining disbursement options for an authorized rebate, wherein said disbursement options include one or more rapid rebates, each of which is less than said authorized rebate;
presenting said disbursement options to a consumer;
receiving a response from said consumer indicating a selection of a rapid rebate; and
sending a rebate payment corresponding to said rapid rebate to said consumer, wherein said rebate payment fulfills said authorized rebate. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer-readable medium carrying computer-executable instructions translatable to perform an accelerated rebate processing method comprising the steps of:
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determining disbursement options for an authorized rebate, wherein said disbursement options include one or more rapid rebates, each of which is less than said authorized rebate;
presenting said disbursement options to a consumer;
receiving a response from said consumer indicating a selection of a rapid rebate; and
sending a rebate payment corresponding to said rapid rebate to said consumer, wherein said rebate payment fulfills said authorized rebate. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A system for processing accelerated rebates, comprising:
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a rebate processor communicatively coupled to a network and at least one factoring company, wherein said rebate processor is operable to receive a rebate claim or a status request thereof from a consumer over said network;
determine whether said rebate claim is authorized;
if said rebate claim is not authorized, communicate authorization failure to said consumer;
if said rebate claim is authorized, determine disbursement options which include one or more rapid rebates, each of which is less than said authorized rebate;
present said disbursement options to said consumer;
receive a selection from said consumer;
if said selection indicates an acceptance of a rapid rebate, formulate a rapid rebate request pertaining to said rapid rebate and communicate said rapid rebate request to said factoring company, wherein said rapid rebate enables said consumer to enter into an electronic purchase agreement with said factoring company; and
wherein said factoring company is operable to send a rebate payment corresponding to said rapid rebate to said consumer per said electronic purchase agreement and wherein said rebate payment fulfills said rebate claim. - View Dependent Claims (19, 20)
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Specification