METHOD AND SYSTEM FOR ENABLING MULTIPLE PAYMENT OPTIONS IN LOYALTY PROGRAM TRANSACTIONS

• US 20080023540A1
• Filed: 08/10/2006
• Published: 01/31/2008
• Est. Priority Date: 07/27/2006
• Status: Active Grant

• Current Assignee: Oracle International Corporation (Oracle Corporation)
• Original Assignee: Oracle International Corporation (Oracle Corporation)
• Inventors: RAO, Machiraju Rama, Dandibotla, Lalitha, Shah, Shyam, Sheik, Javid, Narayan, Siju, Murthy, Bontha
• Granted Patent: US 7,562,810 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0216 Investment accounts

Abstract

The present invention discloses a method and system for enabling multiple payment options for members in a loyalty program. The method according to the present invention includes the steps of receiving a request for a loyalty service and capturing service information and payment options of interest from the members, and processing the service information and payment options and displaying a set of feasible payment options to the members. The present invention enables members to exercise any payment option of choice, which includes loyalty units, monetary currencies and a combination of loyalty units and monetary currencies.

Claims

1. A method for enabling multiple payment options for members in a loyalty program comprising the steps of:

receiving a request for a loyalty service;

capturing service information and payment options of interest from said members;

processing said service information and payment options; and

displaying a set of said multiple payment options available to the members.

2. The method of claim 1, wherein the multiple payment options comprise loyalty units, a plurality of monetary currencies and a combination of said loyalty units and said monetary currencies.

3. The method of claim 1, wherein said capturing service information and payment options includes members logging into a third-party system website provided by said loyalty program and entering the service information.

4. The method of claim 1, wherein said capturing service information and payment options includes members calling a service centre agent and submitting the request, said service centre agent submitting the request to the loyalty program for the member.

5. The method of claim 1, wherein said processing the service information and payment options comprises:

selecting a plurality of price lists for selected loyalty unit and monetary currencies by the members;

pricing a product and/or service offered to the member based on pricing attributes;

interpreting pricing outputs, wherein said pricing outputs comprise separate prices in monetary currencies and loyalty units; and

grouping the pricing outputs for displaying said set of multiple payment options available to the members.

6. The method of claim 1, wherein said processing the service information and payment options further comprises:

providing a link between price lists in monetary currencies and loyalty units.

7. The method of claim 5, wherein said pricing attributes comprise member attributes, transaction attributes, product attributes and partner attributes.

8. The method of claim 5, wherein the pricing attributes are derived from membership of the member, geographical location, partner location and partner category.

9. The method of claim 1, wherein the members are enabled to select a payment option of choice available from the displayed set of multiple payment options.

10. A system for enabling multiple payment options for members in a loyalty program comprising of:

an input module for receiving a request for a loyalty service;

a capturing module for capturing service information and payment options of interest from said members;

a processing module for processing said service information and payment options; and

an output module for displaying a set of multiple payment options available to the members.

11. The system as in claim 10, wherein said multiple payment options comprise loyalty units, a plurality of monetary currencies and a combination of said loyalty units and said monetary currencies.

12. The system as in claim 10, wherein said input module further comprises a user interface for entering the service information and requesting for a product and/ or service offered by the loyalty program.

13. The system as in claim 10 further comprising:

a pricing module for generating a plurality of pricing outputs based on a plurality of pricing attributes for selected product and/or service separately in loyalty units and monetary currencies.

14. The system as in claim 13, wherein said pricing module further comprises a logic for interpreting said pricing outputs and grouping the pricing outputs.

15. The system as in claim 13, wherein said plurality of pricing attributes comprise member attributes, transaction attributes, product attributes and partner attributes.

16. The system as in claim 13, wherein the pricing attributes are derived from membership of the member, geographical location, partner location and partner category.