SYSTEM AND METHOD FOR PROVIDING REWARDS THROUGH A USER FINANCIAL INSTRUMENT

• US 20120004966A1
• Filed: 07/11/2011
• Published: 01/05/2012
• Est. Priority Date: 01/21/2009
• Status: Abandoned Application

• Current Assignee: Truaxis, Inc. (MasterCard Incorporated)
• Original Assignee: Billshrink Inc (MasterCard Incorporated)
• Inventors: Satyavolu, Ramakrishna, Kothari, Samir, Daredia, Shehzad
• Application Number:
  US13/180,521
• Publication Number:
  US 20120004966A1
• Time in Patent Office: Days
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: H04M 15/00 Arrangements for metering, time-control or time indication ; Metering, charging or billing arrangements for voice wireline or wireless communications, e.g. VoIP
• CPC Class Codes: H04M 15/44 Augmented, consolidated or itemized billing statement or bill presentation
• CPC Class Codes: H04M 15/58 based on statistics of usage or network monitoring
• CPC Class Codes: H04M 15/745 Customizing according to wishes of subscriber, e.g. friends or family
• CPC Class Codes: H04M 15/80 Rating or billing plans; Tariff determination aspects
• CPC Class Codes: H04M 15/8011 using class of subscriber
• CPC Class Codes: H04M 15/8044 Least cost routing
• CPC Class Codes: H04M 15/805 Bidding
• CPC Class Codes: H04M 15/8083 involving reduced rates or discounts, e.g. time-of-day reductions or volume discounts
• CPC Class Codes: H04M 15/83 Notification aspects
• CPC Class Codes: H04M 15/84 Types of notifications
• CPC Class Codes: H04M 15/85 characterised by the type of condition triggering a notification
• CPC Class Codes: H04M 15/851 Determined tariff
• CPC Class Codes: H04M 2215/0104 Augmented, consolidated or itemised billing statement, e.g. additional billing information, bill presentation, layout, format, e-mail, fax, printout, itemised bill per service or per account, cumulative billing, consolidated billing
• CPC Class Codes: H04M 2215/0108 Customization according to wishes of subscriber, e.g. customer preferences, friends and family, selecting services or billing options, Personal Communication Systems [PCS]
• CPC Class Codes: H04M 2215/018 On-line real-time billing, able to see billing information while in communication, e.g. via the internet
• CPC Class Codes: H04M 2215/0184 involving reduced rates or discounts, e.g. time-of-day reductions, volume discounts, cell discounts, group billing, frequent calling destination(s) or user history list
• CPC Class Codes: H04M 2215/0188 Network monitoring; statistics on usage on called/calling number
• CPC Class Codes: H04M 2215/74 : Rating aspects, e.g. rating parameters or tariff determination apects
• CPC Class Codes: H04M 2215/7407 : class of subscriber
• CPC Class Codes: H04M 2215/745 : Least cost routing, e.g. Automatic or manual, call by call or by preselection
• CPC Class Codes: H04M 2215/7457 : Biding
• CPC Class Codes: H04M 2215/81 : Notifying aspects, e.g. notifications or displays to the user
• CPC Class Codes: H04M 2215/8129 : Type of notification
• CPC Class Codes: H04M 2215/815 : Notification when a specific condition, service or event is met

Abstract

A system and method for providing rewards through a user financial instrument includes gathering transaction data from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user and analyzing the transaction data to determine a reward level. The savings opportunity from the merchant may be matched to the user based on the reward level. The user is enabled to redeem the savings opportunity during a subsequent transaction with the merchant.

Claims

1. A method, comprising:

gathering transaction data from a user for a merchant from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user;

analyzing the transaction data to determine a reward level;

matching a savings opportunity from the merchant to the user based on the reward level; and

enabling the user to redeem the savings opportunity during a subsequent transaction with the merchant.

2. The method of claim 1, further comprising, allowing the merchant to set a criterion for determining the reward level.

3. The method of claim 2, wherein the criterion relates to an amount spent with the merchant.

4. The method of claim 2, wherein the criterion relates to a number of visits to the merchant.

5. The method of claim 1, wherein as the reward level improves, the matched savings opportunity improves.

6. The method of claim 1, wherein the financial account is at least one of a bank account, a checking account, a savings account, a credit account, a personal finance program account, and a loan account.

7. The method of claim 1, wherein enabling comprises automatic redemption upon presentation of a transaction card associated with the user'"'"'s financial account.

8. The method of claim 1, wherein enabling comprises providing the user with at least one of a printed coupon, a bar code coupon presented on a mobile device, and a credit on a merchant loyalty card.

9. The method of claim 1, wherein analyzing comprises extracting at least one of a merchant name, a merchant category, a merchant location, a transaction amount, a transaction frequency, a zip code, a store name, a store category, a store number, a transaction description, a purchase frequency, and a total spending amount.

10. The method of claim 1, wherein the savings opportunity is a coupon.

11. The method of claim 10, wherein the coupon is a barcode presented on a mobile device.

12. The method of claim 10, wherein the coupon is a printed coupon presented in a statement.

13. The method of claim 10, wherein the coupon is an online redemption coupon code.

14. The method of claim 1, wherein the savings opportunity is an automatic discount on a subsequent transaction.

15. The method of claim 1, wherein the savings opportunity is a credit on a subsequent transaction.

16. The method of claim 1, wherein the savings opportunity is a pre-paid offer.

17. The method of claim 1, wherein the savings opportunity is a merchant loyalty program.

18. The method of claim 17, wherein the merchant loyalty program is implemented through the use of a transaction card associated with the financial account.

19. The method of claim 17, wherein the merchant loyalty program is implemented by providing the user with at least one of a printed coupon, a bar code coupon presented on a mobile device, and a credit on a merchant loyalty card.

20. The method of claim 1, wherein the step of matching is limited to savings opportunities near a user'"'"'s identified location.