SYSTEMS AND METHODS FOR REDEEMING REWARDS ASSOCIATED WITH ACCOUNTS

• US 20080091582A1
• Filed: 12/13/2007
• Published: 04/17/2008
• Est. Priority Date: 04/24/1998
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Lindsay, Carol, Blagg, Lynn
• Application Number:
  US11/956,235
• Publication Number:
  US 20080091582A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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

1-21. -21. (canceled)

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

receiving a reward redemption request, wherein the reward redemption request indicates a reward type;

identifying an account that accrues the reward type; and

accessing a reward of the reward type to at least partially satisfy the reward redemption request.

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

accessing a second reward of the reward type to at least partially satisfy the reward redemption request, wherein the second reward is associated with the second account.

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

converting the reward to a common value; and

transferring the common value from the second account to the first account.

25. The method of claim 22, wherein the account is a first account, wherein the reward type is a first reward type, and wherein the reward redemption request is associated with a second account that accrues a second reward type, the method further comprising:

converting the reward of the first reward type to a common value;

converting a reward of the second reward type to the common value; and

transferring the common value from the second account to the first account.

26. The method of claim 22, wherein the account is a sick days account, and wherein the reward type is sick days.

27. The method of claim 22, wherein the account is a vacation days account, and wherein the reward type is vacation days.

28. The method of claim 22, wherein the account is a financial account.

29. The method of claim 28, wherein the reward type is selected from a group consisting of:

a point based reward and a cash based reward.

30. The method of claim 28, wherein the reward type is a reduced interest rate.

31. The method of claim 22, wherein the reward is a first reward, the method further comprising:

lending a second reward, wherein the second reward partially satisfies the reward redemption request.

32. The method of claim 31, wherein lending the reward includes defining terms of the lending, the method further comprising:

applying a penalty wherein the terms of the lending are not met.

33. The method of claim 32, wherein the terms of the lending define a period in which the second reward must be accrued.

34. The method of claim 32, wherein the account is a first account, wherein the reward redemption request is associated with a second account, and wherein the terms of the lending define a period in which the second account must remain active, such that an owner of the second account is given an incentive to maintain the second account.

40. The method of claim 22, wherein the account is a first account, wherein the reward is a first reward, wherein the first account and a second account are associated in an account group, wherein a second reward associated with the second account is combined with the first reward in a reward pool, and wherein determining that the reward amount is greater than the reward associated with the first account further includes determining that the reward amount is greater than a reward available from a reward pool.

35-39. -39. (canceled)

41-71. -71. (canceled)