SYSTEM FOR ELECTRONIC BARTER, TRADING AND REDEEMING POINTS ACCUMULATED IN FREQUENT USE REWARD PROGRAMS

• US 20110078008A1
• Filed: 10/07/2010
• Published: 03/31/2011
• Est. Priority Date: 06/23/1999
• Status: Active Grant

• Current Assignee: Signature Systems LLC
• Original Assignee: Signature Systems LLC
• Inventors: Postrel, Richard
• Granted Patent: US 8,478,640 B2
• Time in Patent Office: Days
• US Class Current: 705/14.23
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/343 Cards including a counter
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0208 Trade or exchange of goods or services in exchange for incentives or rewards
• CPC Class Codes: G06Q 30/0209 Incentive being awarded or redeemed in connection with the playing of a video game
• CPC Class Codes: G06Q 30/0212 Chance discounts or incentives
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0223 based on inventory
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• 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 30/0228 On-line clearing houses
• CPC Class Codes: G06Q 30/0229 Multi-merchant loyalty card systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/06 : Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 : Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 17/3255 : Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements

Abstract

A system and method for operating a reward points accumulation and redemption program wherein a user earns rewards from a plurality of independent reward issuing entities, with each tracking the user'"'"'s earned rewards. A trading server accumulates some or all of the user'"'"'s earned rewards from the reward servers and credits the accumulated rewards into a single reward exchange account associated with the user. The user may then select an item for purchase with the accumulated rewards. The item is provided to the user in exchange for a subset or all of the rewards. Reward points may also be redeemed in exchange for services, such as the playing of a video game or Internet access.

Claims

1-29. -29. (canceled)

30. A method of operating a reward exchange comprising:

a) a trading server computer transmitting a first web page for a user to enroll a plurality of user reward accounts with the trading server computer, each of said user reward accounts stored on a reward server computer and associated with the user for storing rewards awarded to the user for transactions between the user and an associated reward issuing entity, each of said user reward accounts indicated by the user to be accessed by the trading server for exchanging rewards into a user reward exchange account stored in association with trading server computer;

b) the trading server computer receiving instructions from the user indicating user reward accounts to be accessed by the trading server for exchanging rewards into a user reward exchange account stored in association with the trading server computer; and

c) the trading server computer exchanging rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account.

31. The method of claim 30 wherein the trading server computer exchanges rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account at a predetermined rate of exchange.

32. The method of claim 30 wherein the step of the trading server computer exchanging rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account comprises, for each of the user reward accounts indicated by the user:

the trading server computer requesting the reward server computer on which the reward account is stored to reduce the number of rewards in the user reward account; and

the trading server computer increasing the number of rewards in the reward exchange account.

33. The method of claim 32 further comprising the step of the trading server computer receiving consideration from the reward server computer on which the reward account is stored.

34. The method of claim 30 further comprising:

d) the trading server computer transmitting a second web page comprising a display of a plurality of items that may be purchased by redemption of rewards from the user reward exchange account;

e) the trading server computer receiving instructions from the user that identify an item selected for purchase from the second web page; and

f) the trading server computer redeeming rewards from the user reward exchange account for the item selected for purchase.

35. The method of claim 34 wherein the step of the trading server computer redeeming rewards from the user reward exchange account for the item selected for purchase comprises:

the trading server computer reducing the rewards in the user reward exchange account;

the trading server computer causing the item selected for purchase to be delivered to the user.

36. The method of claim 35 wherein the step of the trading server computer causing the item selected for purchase to be delivered to the user comprises:

the trading server computer requesting a merchant to deliver to the user the item selected for purchase; and

the trading server computer transferring consideration to the merchant.

37. A trading server computer comprising memory means, communications means, and processing means programmed to:

a) transmit a first web page via the communication means for a user to enroll a plurality of user reward accounts with the trading server computer, each of said user reward accounts stored on a reward server computer and associated with the user for storing rewards awarded to the user for transactions between the user and an associated reward issuing entity, each of said user reward accounts indicated by the user to be accessed by the trading server for exchanging rewards into a user reward exchange account stored in the memory means in association with trading server computer;

b) receive instructions via the communication means from the user indicating user reward accounts to be accessed by the trading server for exchanging rewards into a user reward exchange account stored in the memory means in association with the trading server computer; and

c) exchange rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account.

38. The trading server computer of claim 37 further programmed to exchange rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account at a predetermined rate of exchange.

39. The trading server computer of claim 37 further programmed to exchange rewards from the plurality of user reward accounts indicated by the user into the user reward exchange account by, for each of the user reward accounts indicated by the user:

requesting the reward server computer on which the reward account is stored to reduce the number of rewards in the user reward account; and

increasing the number of rewards in the reward exchange account.

40. The trading server computer of claim 39 further programmed to receive consideration from the reward server computer on which the reward account is stored.

41. The trading server computer of claim 37 further programmed to:

d) transmit a second web page comprising a display of a plurality of items that may be purchased by redemption of rewards from the user reward exchange account;

e) receive instructions from the user that identify an item selected for purchase from the second web page; and

f) redeem rewards from the user reward exchange account for the item selected for purchase.

42. The trading server computer of claim 41, programmed to redeem rewards from the user reward exchange account for the item selected for purchase by:

reducing the rewards in the user reward exchange account;

causing the item selected for purchase to be delivered to the user.

43. The trading server computer of claim 42, programmed to cause the item selected for purchase to be delivered to the user by:

requesting a merchant to deliver to the user the item selected for purchase; and

transferring consideration to the merchant.

44. A method of operating a reward exchange comprising:

a) a trading server computer transmitting a first web page for a user to enroll a plurality of user reward accounts with the trading server computer, each of said user reward accounts stored on a reward server computer and associated with the user for storing rewards awarded to the user for transactions between the user and an associated reward issuing entity, each of said user reward accounts indicated by the user to be accessed by the trading server for combining rewards for purchase of an item;

b) the trading server computer receiving instructions from the user indicating user reward accounts to be accessed by the trading server for combining rewards for purchase of an item; and

c) the trading server computer combining rewards from the plurality of user reward accounts for redemption for an item selected for purchase.

45. The method of claim 44 further wherein the trading server computer combines rewards from the plurality of user reward accounts for redemption for an item selected for purchase at a predetermined rate of exchange.

46. The method of claim 44 wherein the step of the trading server computer combining rewards from the plurality of user reward accounts indicated by the user comprises, for each of the user reward accounts indicated by the user, the trading server computer requesting the reward server computer on which the reward account is stored to reduce the number of rewards in the user reward account.

47. The method of claim 46 further comprising the step of the trading server computer receiving consideration from the reward server computer on which the reward account is stored.

48. The method of claim 44 wherein the item is selected for purchase by:

the trading server computer transmitting a second web page comprising a display of a plurality of items that may be purchased by redemption of rewards combined from the plurality of user reward accounts; and

the trading server computer receiving instructions that identify an item selected for purchase from the second web page.

49. The method of claim 44 wherein the step of the trading server computer combining rewards from the plurality of user reward accounts for redemption for the item selected for purchase comprises the trading server computer causing the item selected for purchase to be delivered to the user.

50. The method of claim 49 wherein the step of the trading server computer causing the item selected for purchase to be delivered to the user comprises:

the trading server computer requesting a merchant to deliver to the user the item selected for purchase; and

the trading server computer transferring consideration to the merchant.

51. A trading server computer comprising memory means, communications means, and processing means programmed to:

a) transmit a first web page via the communication means for a user to enroll a plurality of user reward accounts with the trading server computer, each of said user reward accounts stored on a reward server computer and associated with the user for storing rewards awarded to the user for transactions between the user and an associated reward issuing entity, each of said user reward accounts indicated by the user to be accessed by the trading server for combining rewards for purchase of an item;

b) receive instructions from the user indicating user reward accounts to be accessed by the trading server for combining rewards for purchase of an item; and

c) combine rewards from the plurality of user reward accounts for redemption for an item selected for purchase.

52. The trading server computer of claim 51 further programmed to combine rewards from the plurality of user reward accounts for redemption for an item selected for purchase at a predetermined rate of exchange.

53. The trading server computer of claim 51 further programmed to combine rewards from the plurality of user reward accounts indicated by the user by, for each of the user reward accounts indicated by the user, requesting the reward server computer on which the reward account is stored to reduce the number of rewards in the user reward account.

54. The trading server computer of claim 53 further programmed to receive consideration from the reward server computer on which the reward account is stored.

55. The trading server computer of claim 51 further programmed to:

transmit a second web page comprising a display of a plurality of items that may be purchased by redemption of rewards combined from the plurality of user reward accounts; and

receive instructions that identify an item selected for purchase from the second web page.

56. The trading server computer of claim 51, programmed to combine rewards from the plurality of user reward accounts for redemption for the item selected for purchase by causing the item selected for purchase to be delivered to the user.

57. The trading server computer of claim 56, programmed to cause the item selected for purchase to be delivered to the user by:

the trading server computer requesting a merchant to deliver to the user the item selected for purchase; and

the trading server computer transferring consideration to the merchant.