System and Method for Issuing and Using a Loyalty Point Advance
First Claim
1. A computer implemented method for issuing a real-time loyalty point advance to a loyalty account to facilitate a purchase, wherein said loyalty account is associated with a participant, said method comprising:
- receiving a request to purchase an item having a purchase price, wherein said request includes transaction data relating to said purchase;
receiving a monetary payment for at least a portion of said purchase price from said participant;
determining, in real-time, said portion of said purchase price not satisfied by said monetary payment to create a loyalty amount due;
sending, to said participant in real-time, a request to debit said loyalty account for said loyalty amount due;
receiving, in real-time at said server, a request to debit said loyalty account for said loyalty amount due, wherein said debit reduces an available amount of at least one of earned loyalty points and advanced loyalty points;
calculating, in real-time by said server, a first currency value for said debit of said loyalty account;
determining, in real-time by said server, that said first currency value is less than said loyalty amount due;
determining, in real-time by said server, said advanced loyalty points available in response to said first currency value being less than said loyalty amount due;
calculating, in real-time by said server, a second currency value for said advanced loyalty points available;
determining, in real-time by said server, that a combination of said first currency value and said second currency value at least one of;
meets or exceeds said loyalty amount due;
sending, in real-time by said server to said participant, an authorization request to use said advanced loyalty points available for said purchase in response to said combination at least one of;
meeting or exceeding said loyalty amount due;
receiving, at said server from said participant, at least one of;
an authorization or a rejection based on said authorization request; and
,approving, in real-time by said server, said purchase in response to said authorization being received from said participant.
3 Assignments
0 Petitions
Accused Products
Abstract
A system and method for spending loyalty points over a computerized network to facilitate a loyalty point transaction is disclosed. The system enables a participant of a loyalty program to accept an advance of loyalty point when a loyalty account balance is insufficient to make a desired purchase. An amount of loyalty points available as an advance to a participant is determined based on a number of criteria related to the participant, financial account activity, and loyalty account activity. The participant is allotted a predetermined length of time to earn or purchase enough loyalty points to repay the balance of advanced loyalty points. If, at the conclusion of such predetermined length of time, sufficient points have not been earned to offset the loyalty point advance, the participant is charged the currency value of each outstanding loyalty point. The participant may be assessed interest charges and/or fees at the time of the loyalty point advance, during reimbursement, or at the end of a time period for reimbursement.
462 Citations
20 Claims
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1. A computer implemented method for issuing a real-time loyalty point advance to a loyalty account to facilitate a purchase, wherein said loyalty account is associated with a participant, said method comprising:
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receiving a request to purchase an item having a purchase price, wherein said request includes transaction data relating to said purchase; receiving a monetary payment for at least a portion of said purchase price from said participant; determining, in real-time, said portion of said purchase price not satisfied by said monetary payment to create a loyalty amount due; sending, to said participant in real-time, a request to debit said loyalty account for said loyalty amount due; receiving, in real-time at said server, a request to debit said loyalty account for said loyalty amount due, wherein said debit reduces an available amount of at least one of earned loyalty points and advanced loyalty points; calculating, in real-time by said server, a first currency value for said debit of said loyalty account; determining, in real-time by said server, that said first currency value is less than said loyalty amount due; determining, in real-time by said server, said advanced loyalty points available in response to said first currency value being less than said loyalty amount due; calculating, in real-time by said server, a second currency value for said advanced loyalty points available; determining, in real-time by said server, that a combination of said first currency value and said second currency value at least one of;
meets or exceeds said loyalty amount due;sending, in real-time by said server to said participant, an authorization request to use said advanced loyalty points available for said purchase in response to said combination at least one of;
meeting or exceeding said loyalty amount due;receiving, at said server from said participant, at least one of;
an authorization or a rejection based on said authorization request; and
,approving, in real-time by said server, said purchase in response to said authorization being received from said participant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 15, 16, 17, 18, 19)
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11. A computer implemented method for issuing a loyalty point advance to a loyalty account to facilitate a purchase, wherein said loyalty account is associated with a participant, said method comprising the steps of:
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receiving a request to purchase an item having a purchase price, wherein said request includes transaction data relating to said purchase; receiving a monetary payment for at least a portion of said purchase price from said participant; determining, in real-time, said portion of said purchase price not satisfied by said monetary payment to create a loyalty amount due; sending, to said participant in real-time, a request to debit said loyalty account for said loyalty amount due; receiving a request to debit said loyalty account for said loyalty amount due; converting, in real-time, said loyalty amount due of earned loyalty points to a first currency value using a computerized conversion processor; determining, in real-time, that said currency value is less than said loyalty amount due; determining, in real-time, advanced loyalty points available in response to said currency value being less than said loyalty amount due; converting, in real-time, said available advanced loyalty points to a second currency value using a computerized conversion processor; determining, in real-time, that a combination of said first currency value and said second currency value at least one of;
meets or exceeds said loyalty amount due;sending, to said participant in real-time, an authorization request to use said advanced loyalty points for said purchase in response to said combination at least one of;
meeting or exceeding said loyalty amount due;receiving, from said participant, at least one of;
an authorization or a rejection based on said authorization request;applying, in real-time, said currency value as a credit to a second account in response to said authorization being received from said participant, wherein said second account is stored on a second database system; and
,approving, in real-time, said purchase based on said second account. - View Dependent Claims (12, 13, 14)
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20. A computer implemented method for crediting loyalty points to a loyalty account, wherein said loyalty account is associated with a participant, said method comprising the steps of:
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receiving a credit having a currency value; determining if said credit is based on a previous purchase, wherein said previous purchase was facilitated using loyalty points; converting said credit having currency value to a loyalty point balance; crediting said loyalty point balance to said loyalty account.
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Specification