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SYSTEM AND METHOD FOR TRANSACTING PURCHASES WITH A CASH VENDOR USING POINTS AND A VIRTUAL CREDIT CARD

  • US 20100185505A1
  • Filed: 01/22/2009
  • Published: 07/22/2010
  • Est. Priority Date: 01/22/2009
  • Status: Active Grant
First Claim
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1. A computerized method for use by a participant of a program of a program owner, in which the program awards points to the participant, wherein the awarded points are maintained in a point account for the participant by a program manager, said method for permitting the participant to transact a purchase using the awarded points with a cash vendor system which transacts purchases in currency wherein the transaction occurs via a broker website which interfaces between the participant and the cash vendor system, wherein a virtual payment provider provides a virtual credit card account for facilitating the transaction, said method comprising:

  • permitting the participant to;

    contact the cash vendor system via the broker website; and

    select from the cash vendor system via the broker website at least one item having a cash purchase price;

    said method further comprising;

    receiving by the broker website a participant credit card account for paying for fees and a nonpoint portion of the cash purchase price;

    requesting a virtual credit card account from the virtual payment provider, wherein the virtual credit card account is uniquely associated with the transaction;

    charging fees to the virtual credit card account;

    providing the virtual credit card account to the cash vendor system so that the cash vendor system can charge the cash purchase price to the virtual credit card account;

    charging the participant credit card account for the nonpoint portion of the cash purchase price;

    deducting points from the point account of the participant corresponding to the point portion of the cash purchase price;

    such that from the perspective of the participant, the participant uses the broker website to conduct a purchase transaction with the cash vendor system based in part on the points in the participant'"'"'s point account and based in part on the participant'"'"'s credit card account; and

    such that from the perspective of the cash vendor system, the cash vendor system conducts the purchase transaction with the participant as a currency transaction based on the virtual credit card account.

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