Pre-existing liability payment and reward system and method of use

• US 20090083153A1
• Filed: 06/05/2008
• Published: 03/26/2009
• Est. Priority Date: 06/05/2008
• Status: Active Grant

• Current Assignee: Patented Rewards Cards LLC
• Original Assignee: Patented Rewards Cards LLC
• Inventors: Weingarden, Eliyahu
• Granted Patent: US 8,401,895 B2
• Time in Patent Office: Days
• US Class Current: 705/14.270
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A pre-existing liability payment and reward system including a user communication module in communication with a pre-existing liability holder; a merchant communication module that transacts with the user communication module and a processing communication module; a processing communication module that communicates with the merchant communication module and a provider communication module; a provider calculation module that determines a reward; a provider communication module in communication with the provider calculation module; a system calculation module that determines a reward and communicates with a system communication module; a system communication module in communication with a system calculation module; a holder calculation module managing a pre-existing liability holder user account; and a holder communication module in communication with a user communication module and the system communication module. A method of use is also provided.

Claims

1. A pre-existing liability payment and reward system comprising:

a user communication module in operative communication with each of at least one pre-existing liability holder and at least one merchant associated therewith;

a merchant communication module that operates to transact with the user communication module in operative communication with at least one user communication module and a processing communication module associated therewith;

a processing communication module that operates to communicate with the merchant communication module and a provider communication module;

a provider calculation module that operates to determine a reward resulting from a transaction and is in operative communication with a provider communication module;

a provider communication module in operative communication with and adapted to communicate with each of the provider calculation module, and a system communication module;

a system calculation module that operates to determine a reward resulting from a transaction and is operative communication with a system communication module;

a system communication module in operative communication and adapted to communicate with each of at least one system calculation module and at least one holder communication module;

a holder calculation module adapted to manage at least one pre-existing liability holder user account and in operative communication with a holder communication module; and

a holder communication module in operative communication with and adapted to communicate with each of at least one user communication module and the system communication module.

2. The pre-existing liability payment and reward system of claim 1, further comprising:

the provider communication module in operative communication with at least one holder communication module.

3. The pre-existing liability payment and reward system of claim 1, wherein the pre-existing liability holder comprises:

a municipality.

4. The pre-existing liability payment and reward system of claim 1, wherein the pre-existing liability holder comprises:

a state.

5. The pre-existing liability payment and reward system of claim 1, wherein the pre-existing liability holder comprises:

a county.

6. The pre-existing liability payment and reward system of claim 1, wherein the pre-existing liability comprises:

at least one property tax associated with at least one parcel of property.

7. The pre-existing liability payment and reward system of claim 1, further comprising:

a plurality of users, wherein each respective user of the plurality of users is a resident of a municipality having at least one parcel of property within the municipality.

8. A method of using a pre-existing liability payment and reward system comprising:

establishing a rewards program;

enrolling at least one pre-existing liability holder in the rewards program;

enrolling at least one user in the rewards program;

transacting for goods or services by a user from a merchant; and

providing rewards to a user at a predetermined time after the transaction for goods or services is completed.

9. The method of using a pre-existing liability payment reward system of claim 8, wherein establishing a rewards program further comprises:

forming rules that govern transactions, transaction funds, and rewards funds; and

enrolling a system provider in the rewards program.

10. The method of using a pre-existing liability payment reward system of claim 8, further comprising:

using a pre-existing liability holder to establish the rewards program.

11. The method of using a pre-existing liability payment reward system of claim 8, further comprising:

using a system provider to establish the rewards program.

12. The method of using a pre-existing liability payment reward system of claim 8, wherein enrolling at least one pre-existing liability holder further comprises:

communicating with at least one holder communication module to notify at least one pre-existing liability holder of program availability; and

forming an agreement with the at least one pre-existing liability holder, the agreement operating to establish pre-existing liability holder obligations with respect to the rewards program.

13. The method of using a pre-existing liability payment reward system of claim 8, wherein enrolling at least one user further comprises:

notifying at least one potential user of rewards program availability;

receiving application materials from at least one potential user;

determining financial eligibility of at least one potential user; and

enrolling at least one financially eligible potential user in the rewards program to define the at least one financially eligible potential user as an enrolled user.

14. The method of using a pre-existing liability payment reward system of claim 13, wherein notifying at least one user of program availability further comprises:

notifying the at least one potential user of program availability via at least one property tax bill associated with the at least one user.

15. The method of using a pre-existing liability payment reward system of claim 8, wherein transacting for goods or services further comprises:

determining geographical eligibility of a transaction.

16. The method of using a pre-existing liability payment reward system of claim 15, wherein determining geographical eligibility of a transaction further comprises:

defining a predefined geographical eligibility region;

comparing a geographical position of a transaction with the predefined geographical eligibility region to determine whether the geographical position of the transaction is within the predefined geographical eligibility region;

determining whether the geographical position of the transaction is within the predefined geographical eligibility region; and

determining a reward type for the transaction.

17. The method of using a pre-existing liability payment reward system of claim 16, further comprising:

providing a standard reward if the transaction is not within the predefined geographical eligibility region.

18. The method of using a pre-existing liability payment reward system of claim 16, further comprising:

providing a premium reward if the transaction is within the predefined geographical eligibility region.

19. The method of using a pre-existing liability payment reward system of claim 8, wherein providing the reward further comprises:

determining the amount of the transaction;

determining the reward amount as a function of the amount of the transaction;

determining reward amount as a function of geographical eligibility of the transaction; and

providing rewards to at least one pre-existing liability holder.

20. The method of using a pre-existing liability payment reward system of claim 19, wherein providing rewards to at least one pre-existing liability holder further comprises:

providing funds from a transaction to a processing entity;

removing a predefined percentage of the funds corresponding to a predefined processing fee;

providing remaining funds to the provider communication module of the system provider;

removing a predefined percentage of the funds corresponding to a predefined system provider fee;

providing funds to the system communication module of the system administrator;

associating the funds received from the system provider with system administrator user accounts, whereafter the funds from the transaction become user rewards;

removing a predefined percentage of the user rewards corresponding to a predefined system administrator fee;

providing user rewards to the holder communication module of at least one pre-existing liability holder;

reducing a user'"'"'s pre-existing liability by an amount corresponding to the amount of the user rewards; and

notifying a user of the reduction of the pre-existing liability.