SYSTEMS AND METHODS FOR REWARD TRANSACTION MATCHING AND SETTLEMENT

• US 20100191594A1
• Filed: 07/31/2009
• Published: 07/29/2010
• Est. Priority Date: 01/28/2009
• Status: Abandoned Application

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Schafer, Randy Jeffrey, Ellis, Brenda Daugherty, White, Brigette, Lang, Raegen A.
• Application Number:
  US12/533,457
• Publication Number:
  US 20100191594A1
• Time in Patent Office: Days
• US Class Current: 705/14.28
• 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 20/387 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 30/0227 Frequent usage incentive value reconciliation between diverse systems
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A reward processing method, system, apparatus, and computer program code is provided. Pursuant to some embodiments, the method includes analyzing transaction data associated with a plurality of payment transactions, each payment transaction including data identifying a payment account identifier, a transaction date, a transaction amount, and a merchant identifier, and identifying a first set of the payment transactions involving registered payment account identifiers. A second set of payment transactions involving a registered merchant identifier and a current offer are identified, and a reward amount earned for each of the second set is calculated. The reward amount is credited to each of the payment account identifiers in the second set.

Claims

1. A reward processing method, comprising:

analyzing transaction data associated with a plurality of payment transactions, each payment transaction including data identifying a payment account identifier, a transaction date, a transaction amount, and a merchant identifier;

identifying a first set of said payment transactions involving registered payment account identifiers;

identifying, from said first set, a second set of said payment transactions involving a registered merchant identifier and a current offer;

calculating, for each of said payment transactions in said second set, a reward amount earned; and

crediting said reward amount earned to each of said payment account identifiers in said second set.

2. The method of claim 1, wherein said identifying said second set of payment transactions further comprises:

generating a pre-qualified transaction file; and

providing said pre-qualified transaction file to at least one of a servicing entity and an internal system for final qualification of said transactions as involving a current offer.

3. The method of claim 1, wherein said current offer is identified by comparing each of said transactions to a daily offer file containing all current offers.

4. The method of claim 1, wherein said daily offer file includes current offers.

5. The method of claim 1, wherein said crediting said reward amount further comprises:

creating a payment message instructing an issuer or processor of each of said payment account identifiers in said second set to credit said calculated reward amount earned to each of said payment accounts identified by said payment account identifiers.

6. The method of claim 1, further comprising:

creating a settlement report for said second set of payment transactions, said settlement report including a total of said reward amounts in said settlement report;

providing said settlement report to a rewards servicing entity; and

confirming that a payment in the amount of said total has been received from said rewards servicing entity.

7. The method of claim 1, further comprising registering at least a first merchant to become a registered merchant, the method comprising:

receiving a merchant registration request including information identifying a prospective merchant;

comparing said information identifying said prospective merchant with a database of merchants associated with a payment network, said database identifying said merchants using a unique merchant identifier; and

assigning at least one of said unique merchant identifiers to said prospective merchant and registering said prospective merchant for participation in said rewards program.

8. A rewards apparatus, comprising:

a processor; and

a memory in communication with the processor, the memory storing program instructions, the processor operative with the program instructions to;

analyze transaction data associated with a plurality of payment transactions, each payment transaction including data identifying a payment account identifier, a transaction date, a transaction amount, and a merchant identifier;

identify a first set of said payment transactions involving registered payment account identifiers;

identify, from said first set, a second set of said payment transactions involving a registered merchant identifier and a current offer;

calculate, for each of said payment transactions in said second set, a reward amount earned; and

credit said reward amount earned to each of said payment account identifiers in said second set.

9. The rewards apparatus of claim 8, wherein the program instructions to identify said second set of payment transactions further comprises program instructions to:

generate a pre-qualified transaction file; and

provide said pre-qualified transaction file to at least one of a servicing entity and an internal system for final qualification of said transactions as involving a current offer.

10. The rewards apparatus of claim 8, wherein said current offer is identified by comparing each of said transactions to a daily offer file containing all current offers.

11. The rewards apparatus of claim 8, wherein said daily offer file includes current offers.

12. The rewards apparatus of claim 8, wherein said program instructions to credit said reward amount further comprises program instructions to:

create a payment message instructing an issuer or processor of each of said payment account identifiers in said second set to credit said calculated reward amount earned to each of said payment accounts identified by said payment account identifiers.

13. The rewards apparatus of claim 8, further comprising program instructions to:

create a settlement report for said second set of payment transactions, said settlement report including a total of said reward amounts in said settlement report;

provide said settlement report to a rewards servicing entity; and

confirm that a payment in the amount of said total has been received from said rewards servicing entity.

14. The rewards apparatus of claim 8, further comprising program instructions to register at least a first merchant to become a registered merchant, and further comprising program instructions to:

receive a merchant registration request including information identifying a prospective merchant;

compare said information identifying said prospective merchant with a database of merchants associated with a payment network, said database identifying said merchants using a unique merchant identifier; and

assign at least one of said unique merchant identifiers to said prospective merchant and registering said prospective merchant for participation in said rewards program.

15. A computer-implemented method for processing rewards, comprising:

analyzing, using a rewards processing computer, transaction data associated with a plurality of payment transactions, each payment transaction including data identifying a payment account identifier, a transaction date, a transaction amount, and a merchant identifier;

identifying a first set of said payment transactions involving registered payment account identifiers;

identifying, from said first set, a second set of said payment transactions involving a registered merchant identifier and a current offer;

calculating, for each of said payment transactions in said second set, a reward amount earned; and

crediting, using a clearing and settlement system, said reward amount earned to each of said payment account identifiers in said second set.