METHOD OF CONDUCTING A TRANSACTION THAT RESULTS IN CUSTOMER REWARDS

• US 20100094698A1
• Filed: 10/09/2009
• Published: 04/15/2010
• Est. Priority Date: 10/09/2008
• Status: Abandoned Application

• Current Assignee: Citizens Financial Group, Inc. (Rhode Island) (Citizens Financial Group Incorporated)
• Original Assignee: Citizens Financial Group Incorporated
• Inventors: Cawley, Patricia
• Application Number:
  US12/576,746
• Publication Number:
  US 20100094698A1
• Time in Patent Office: Days
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts

Abstract

A general purpose transaction card is provided that offers an attractive incentive to customers to encourage the use of a general purpose transaction card. The general purpose transaction card is offered in connection with a co-branded loyalty program whereby a percentage of a total purchase made at one vendor is deposited into an account maintained at another vendor. More specifically, in a preferred embodiment a grocery vendor deposits a percentage of a customer'"'"'s total grocery purchase into a savings account held by that customer at a bank service provider. By offering a transaction method in accordance with the teachings of the present invention both of the vendors gain in the number of joint customers while deepening the relationship those customers have with both vendors.

Claims

1. A method of conducting a transaction to provide a customer with a loyalty incentive comprising:

identifying a customer account at a bank service provider;

linking a vendor loyal program in which the customer participates with the account;

tracking purchases made by a customer within the vendor loyalty program;

calculating an incentive amount based on the purchases tracked; and

depositing the incentive amount to the customer account.

2. The method of claim 1, wherein the customer account is an existing account.

3. The method of claim 1, wherein the customer account is a newly established account.

4. The method of claim 1, wherein the customer account is selected from the group consisting of:

savings accounts, money market accounts, checking accounts and debit accounts.

5. The method of claim 1, wherein said step of calculating an incentive amount based on the purchases tracked is completed by a third party.

6. A method of conducting a transaction to provide a customer with a loyalty incentive comprising:

identifying a customer account at a bank service provider;

linking a vendor loyal program in which the customer participates with the account;

presenting a card bearing indicia to said vendor, said indicia being linked to the customer'"'"'s participation in the vendor loyalty program, said indicia allowing said vendor to track purchases made by the customer;

calculating an incentive amount based on the purchases tracked; and

depositing the incentive amount to the customer account.

7. The method of claim 6, said card also including indicia identifying said customer account.

8. The method of claim 6, wherein said card includes a first set of indicia relating to said loyalty program and a second set of indicia relating to said customer account.

9. The method of claim 8, wherein said first and second indicia appear separately on said card.

10. The method of claim 8, wherein said first and second indicia appear jointly on said card.

11. The method of claim 6, wherein the customer account is an existing account.

12. The method of claim 6, wherein the customer account is a newly established account.

13. The method of claim 6, wherein the customer account is selected from the group consisting of:

savings accounts, money market accounts, checking accounts and debit accounts.

14. The method of claim 6, wherein said step of calculating an incentive amount based on the purchases tracked is completed by a third party.

15. A method of conducting a transaction to provide a customer with a loyalty incentive comprising:

identifying a customer account at a bank service provider;

linking a grocery loyal program in which the customer participates with the account;

presenting a card bearing indicia to a grocery vendor, said indicia being linked to the customer'"'"'s participation in the grocery loyalty program, said indicia allowing said grocery vendor to track purchases made by the customer;

calculating an incentive amount based on the purchases tracked; and

depositing the incentive amount to the customer account.

16. The method of claim 15, said card also including indicia identifying said customer account.

17. The method of claim 15, wherein said card includes a first set of indicia relating to said loyalty program and a second set of indicia relating to said customer account.

18. The method of claim 17, wherein said first and second indicia appear separately on said card.

19. The method of claim 17, wherein said first and second indicia appear jointly on said card.

20. The method of claim 15, wherein the customer account is an existing account.

21. The method of claim 15, wherein the customer account is a newly established account.

22. The method of claim 15, wherein the customer account is selected from the group consisting of:

savings accounts, money market accounts, checking accounts and debit accounts.

23. The method of claim 15, wherein said step of calculating an incentive amount based on the purchases tracked is completed by a third party.