SYSTEMS AND METHODS FOR REDEEMING REWARDS ASSOCIATED WITH ACCOUNTS

• US 20080091540A1
• Filed: 12/13/2007
• Published: 04/17/2008
• Est. Priority Date: 04/24/1998
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Blagg, Lynn, Lindsay, Carol
• Granted Patent: US 8,073,736 B2
• Time in Patent Office: Days
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• 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

Among other things, the present invention provides systems and methods for fulfilling reward redemptions. In some cases, the systems and methods receive redemption requests associated with an account. The redemption request can be satisfied from a reward associated with the account, or by accessing a reward associated with another account. Redeeming a reward from another account can involve transferring value from one account to another, or grouping the related accounts and allowing members of the group to perform the settlement function. Various of the systems and method further provide for performing automatic reward redemptions, either by an entity maintaining the account to which the reward is associated, or through use of a fulfillment entity.

Claims

1-34. -34. (canceled)

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

receiving a reward redemption request associated with an account, wherein the reward redemption request includes a reward amount;

determining that the reward amount is greater than a reward associated with the account; and

pending the reward redemption request.

36. The method of claim 35, the method further comprising:

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

37. The method of claim 36, the method further comprising:

determining that the reward amount is less than the reward associated with the account; and

satisfying the reward redemption request.

38. The method of claim 36, the method further comprising:

determining that the reward amount is within a predefined amount of the reward associated with the account; and

satisfying the reward redemption request.

39. The method of claim 38, wherein the predefined amount is a time period, the method further comprising:

determining a reward accrual velocity; and

wherein determining that the reward amount is within the predefined amount includes determining an estimated time until the reward amount is less than the reward associated with the account.

41. The method of claim 35, wherein the account is a vacation days account, and wherein the reward redemption request is for vacation days.

42. The method of claim 35, wherein the account is a financial account.

43. The method of claim 39, wherein the reward redemption request for a reward selected from a group consisting of:

frequent flyer miles, value exchangeable for merchandise, and hotel stays.

40. (canceled)

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

receiving a reward redemption request, wherein the reward redemption request includes a reward amount;

identifying an account group to which the reward redemption request applies, wherein the account group includes at least a first account and a second account;

determining the reward amount is greater than an accrued reward accessible via the account group; and

pending the reward redemption request.

45. The method of claim 44, wherein the accrued reward is maintained in a reward pool.

46. The method of claim 45, wherein the accrued reward is augmented based on activity associated with the first account.

47. The method of claim 46, wherein the accrued reward is augmented based on activity associated with the second account.

48. The method of claim 45, wherein the reward pool accrues sick days, and wherein the reward redemption request is for sick days.

49. The method of claim 45, wherein the first account and the second account are financial accounts.

50. The method of claim 49, wherein the reward redemption request for a reward selected from a group consisting of:

frequent flyer miles, value exchangeable for merchandise, and hotel stays.

51. The method of claim 44, the method further comprising:

augmenting the accrued reward based on activity associated with the first account;

determining that the reward amount is less than the augmented accrued reward; and

satisfying the reward redemption request.

52. The method of claim 44, the method further comprising:

augmenting the accrued reward based on activity associated with the first account;

determining that the reward amount is within a predefined amount of the augmented accrued reward; and

satisfying the reward redemption request.

53. The method of claim 44, wherein the predefined amount is a time period, the method further comprising:

determining a reward accrual velocity; and

wherein determining that the reward amount is within the predefined amount includes determining an estimated time until the reward amount is less than the reward associated with the account.

54. An automated method for redeeming rewards, the method comprising:

monitoring activity associated with an account, wherein the account is associated with a reward;

augmenting the reward based at least in part on the monitored activity;

determining that the augmented reward has achieved a defined level; and

automatically redeeming the reward.

55. The method of claim 54, wherein redeeming the reward includes:

providing an indication to a party associated with the account that the defined reward level is achieved;

directing the party to an Internet site; and

presenting a group of options for redeeming the reward.

56. The method of claim 55, wherein redeeming the reward further comprises:

receiving an indication of an option selected by the party; and

providing the selected option to the party.

57. The method of claim 56, wherein the options are selected from a group consisting of:

cell phone minutes, mobile commerce value, merchandise, reduced interest rates, cash back, and travel rewards.

58. The method of claim 56, wherein the option selected by the party is mobile commerce value, and wherein providing the selected option includes uploading the mobile commerce value to a mobile commerce device.

59. The method of claim 54, wherein redeeming the reward includes:

providing an indication to a party associated with the account that the defined reward level is achieved;

directing the party to an phone redemption system; and

presenting a group of options for redeeming the reward.

60. The method of claim 54, wherein the account is a financial account.

61. The method of claim 60, wherein redeeming the reward comprises:

identifying an accrued reward to a fulfillment entity;

identifying the party associated with the account to the fulfillment entity;

receiving an indication that the fulfillment entity provided compensation for the accrued reward to the party associated with the account; and

deducting the accrued reward from the account.

62. The method of claim 61, wherein the fulfillment entity is a retailer providing merchandise in exchange for the accrued reward.

63. The method of claim 62, wherein the retailer performs the reward processing.

64. The method of claim 61, wherein the fulfillment entity is a group of retailers providing merchandise in exchange for the accrued reward.

65. The method of claim 61, wherein the fulfillment entity:

provides an indication to the party associated with the account that the defined reward level is achieved;

directs the party to a fulfillment mechanism; and

presents a group of options for redeeming the reward.

66. The method of claim 65, wherein the fulfillment mechanism is an Internet site maintained by the fulfillment entity.

67. The method of claim 65, wherein the fulfillment mechanism is an IVR.

68. The method of claim 60, wherein the financial account is associated with a credit card product.

69. A method for satisfying a unitary redemption request from rewards available from a plurality of accounts, the method comprising:

receiving a redemption request, wherein the redemption request identifies an amount of a reward type;

identifying a first account that accrues the reward type;

determining that the first account can only partially satisfy the amount;

identifying a second account that accrues the reward type; and

satisfying the redemption request, wherein the amount includes a first reward of the reward type from the first account and a second reward of the reward type from the second account.

70. The method of claim 69, wherein identifying the second account is done based on an indicator associated with the first account.

71. The method of claim 69, wherein identifying the second account is done in the same manner as identifying the first account.