CHASING REWARDS ASSOCIATED WITH ACCOUNTS

• US 20070203795A1
• Filed: 05/01/2007
• Published: 08/30/2007
• Est. Priority Date: 04/23/1999
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Blagg, Lynn
• Granted Patent: US 8,606,631 B2
• Time in Patent Office: Days
• US Class Current: 705/14.330
• 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

1-19. -19. (canceled)

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

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

receiving a request to redeem at least a portion of the reward, wherein the request is initiated by a second party;

in response to the request to redeem, identifying the first account and a relationship between the first account and the second party; and

satisfying the request to redeem.

21. The method of claim 20, 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.

22. The method of claim 20, the method further comprising:

associating the first account with a second account, wherein the second account is associated with the second party, and wherein the second party becomes associated with the first account.

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

satisfying the request to redeem the reward, wherein the request is at least partially satisfied from the first account and at least partially satisfied from the second account.

24. The method of claim 23, wherein the at least partial satisfaction from the second account is based in part on an inability to fully satisfy the request to redeem the reward from the first account.

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

augmenting the first reward based at least in part on transactions associated with the first account; and

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

26. The method of claim 25, wherein the request to redeem the reward is a first request, the method further comprising:

receiving a second request to redeem a reward, wherein the second request is initiated by the first party; and

satisfying the second request in part from the first account and in part from the second account;

wherein satisfying the request in part from the second account is based in part on an inability to fully satisfy the request from the first account.

31-36. -36. (canceled)

37. A method for making rewards obtainable, 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.

38. The method of claim 40, the method further comprising:

augmenting the reward based on activity associated with the first owner.

39. The method of claim 37, wherein the first account and the second account are included in an account group, and wherein the reward is available via the account group.

40. The method of claim 39, 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 available via the account group.

41. The method of claim 37, wherein the first account and the second account are included in an account group, and wherein the reward remains linked to the first account.

42. The method of claim 37, wherein the reward is selected from a group consisting of:

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