E-Coupon Settlement and Clearing Process

• US 20090106115A1
• Filed: 12/29/2008
• Published: 04/23/2009
• Est. Priority Date: 12/01/2004
• Status: Active Grant

• Current Assignee: Fidelity Information Services, LLC (Fidelity National Information Services Incorporated)
• Original Assignee: Metavante Corporation (Fidelity National Information Services Incorporated)
• Inventors: James, Vicki L., Erdmann, Jeffrey Jay
• Granted Patent: US 10,248,951 B2
• Time in Patent Office: Days
• US Class Current: 705/14.260
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/208 Input by product or record sensing, e.g. weighing or scanner processing
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system that automates the clearing and settlement of electronic coupons (E-Coupons) by leveraging existing technologies and enabling E-Coupon redemption at any merchant having electronic funds transfer (EFT) capabilities, such as credit/debit card acceptance. The system reduces opportunities for fraud, reduces or eliminates the need for manual clearinghouse counting and sorting of coupons, and provides an electronic audit trail for coupon redemption, tying a specific purchase to a specific coupon. After registering and selecting coupons, consumers then use an E-Coupon card or account access device at a merchant'"'"'s point-of-sale (POS) terminal. E-Coupon values are deducted from the consumer'"'"'s final amount due. Both consumer package goods manufacturers (CPGs) and merchants may be charged a fee. Expired coupons are automatically removed from the account and their value refunded to the CPGs. Reports on redeemed coupons and consumer profiles can be generated and provided to CPGs or merchants.

Claims

1. An electronic coupon redemption and settlement processing system, comprising:

A. a point-of-sale system configured to recognize and support real-time transactions involving at least one consumer account, the point-of-sale system including;

1) an input device;

2) a processor in communication with the input device;

B. a transaction processing system including;

1) a first data structure configured to contain at least one identifier for a coupon for items that are eligible for purchase associated with the at least one consumer account;

2) a second data structure configured to contain at least one selected item identifier for items that are selected for purchase using the at least one consumer account;

3) a third data structure configured to contain at least one transaction data detail;

4) a decision system using the coupon identifiers contained in the first data structure, the selected item identifiers contained in the second data structure, and the transaction data detail contained in the third data structure to process transactions and provide transaction information to the point-of-sale system; and

C. at least one data communications network configured to provide communication between the point-of-sale system and the transaction processing system.

2. The system of claim 1, wherein the point-of-sale system includes a reader that also reads SKU or UPC information.

3. The system of claim 1, further including a mechanism to treat a coupon as an electronic tender type at the point-of-sale system.

4. The system of claim 1, wherein the point-of-sale system has at least one output screen which can prompt for responses.

5. The system of claim 1, further comprising a device to access the at least one consumer account wherein the device is a card with a readable magnetic strip.

6. An electronic coupon redemption and processing system comprising:

a financial communications network;

a network portal connected to the financial communications network;

at least one server operable with the portal;

at least one server operable with the financial communications network which is used to process financial transactions;

a database containing consumer account information connected to the network;

a database containing consumer product selection information connected to the network;

a database containing available coupon sponsor coupon information connected to the network; and

a consumer account access device readable by a point-of-sale payment processing system that is connected to the network.

7. The system of claim 6, further including a mechanism to notify a consumer of coupon redemption activity associated with a consumer account.

8. A method of providing an electronic coupon redemption and settlement processing system comprising the steps of:

providing an account access device for accessing an account;

sharing a cost of providing the account access device between at least one of a consumer, a coupon sponsor, and a merchant;

processing a coupon redemption transaction at a point-of-sale terminal at the merchant;

charging a coupon redemption service charge to at least one of the coupon sponsor and the merchant;

creating a consumer profile report and making the report available to at least one of the coupon sponsor and the merchant; and

facilitating promotional communications between at least one of the coupon sponsor and the merchant and the consumer.

9. The method of claim 8, further comprising:

compiling an inventory control report for the merchant based on a geographic location of the merchant, a geographic location of at least one consumer, and at least one coupon sponsor coupon selected by the at least one consumer;

removing the at least one coupon sponsor coupon, corresponding to a purchased item, from the account at the point-of-sale terminal upon redemption and moving at least part of a cash reserve from the coupon sponsor associated with the coupon; and

automatically eliminating a value of at least one coupon that is unredeemed after an expiration date associated with the coupon from the account and releasing at least part of the cash reserve from the coupon sponsor associated with the value of the unredeemed coupon back to the coupon sponsor.

10. The method of claim 9, further comprising providing a mechanism to allow the consumer to check a balance and a content of the account on-line or via cell phone and to reload the account with another coupon value at any time.

11. The method of claim 10, further comprising charging a service charge to the at least one coupon sponsor for setting up the electronic coupon redemption and settlement processing system.

12. An electronic coupon redemption and settlement processing system comprising:

an account associated with a consumer having a personal identification number;

a consumer mechanism to allow the consumer to access account information and modify account status prior to shopping;

a sponsor mechanism to allow a coupon sponsor to modify account status without prompting from the consumer;

a communications interface between at least one of the coupon sponsor and a merchant and a targeted consumer;

a coupon redemption means at a point-of-sale which allows electronic processing of a coupon; and

a transaction processing system for withdrawing funds from a cash reserve account of the coupon sponsor to pay for a face-value and a processing fee associated with the coupon.

13. The system of claim 12, wherein the communications interface between each of the coupon sponsors and merchants and the targeted consumer includes a means for creating consumer profile summary reports and making the reports available to the coupon sponsor and merchant.

14. The system of claim 12, wherein the consumer mechanism further allows the consumer to load and unload at least one coupon and subscribe to at least one coupon plan.

15. The system of claim 12, wherein the sponsor mechanism further allows the sponsor to load and unload at least one coupon to the account.

16. The system of claim 12, wherein the cash reserve account has a predetermined maximum amount and a predetermined minimum amount wherein an additional cash amount is added by the sponsor when a balance of the cash reserve account drops below the minimum amount and wherein the balance of the cash reserve account after the additional cash is added is less than the maximum amount.

17. A method of processing a coupon comprising the steps of:

setting up a coupon service for a participating coupon sponsor;

creating an E-Coupon account for a consumer;

offering a variety of coupons to the consumer;

electronically adding a selected coupon to the account of the consumer;

presenting a product for purchase at a point-of-sale terminal at a merchant;

accessing the account of the consumer from the point-of-sale terminal;

verifying the product presented at the point-of-sale terminal by the consumer with the selected coupon in the account;

determining a value of the coupon to be subtracted from a total cost of the product presented;

deducting the coupon value from the total cost of the product presented;

transmitting a revised total cost of the product back to the point-of-sale terminal;

deleting the coupon from the account;

creating a coupon redemption record for the merchant;

paying the merchant based on the coupon redemption record;

sending the redemption record to the coupon sponsor for the sponsor'"'"'s coupon presented and approved at the point-of-sale terminal;

deducting the coupon value from a reserve account belonging to the coupon sponsor;

creating a consumer profile report;

making the profile report available to at least one of the coupon sponsor and the merchant;

facilitating promotional communications between at least one of the coupon sponsor and the merchant and the targeted consumer; and

removing the coupon from the account automatically when the coupon has not been redeemed prior to an expiration date associated with the coupon and releasing the value of the unredeemed coupon from the reserve account back to the coupon sponsor.

18. The method of claim 17, further comprising charging at least one of a coupon selection charge and a redemption service charge to at least one of the merchant, the consumer, and the coupon sponsors.

19. The method of claim 17, further comprising charging a report creation fee to at least one of the coupon sponsor and the merchant.

20. The method of claim 17, further comprising providing a coupon account access device to the consumer.