Centralized consumer cash value accumulation system for multiple merchants
DCFirst Claim
1. A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising:
- at the point-of-sale, obtaining from the consumer an account number unique to the consumer and which is independent of how the consumer pays for the transaction;
at a merchant location, determining a credit value for the transaction;
electronically providing from the merchant location to a central system for each transaction, theconsumer'"'"'s account number and the credit value;
for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer'"'"'s account number by increasing the cash value in that consumer account in relation to the credit value; and
selectively providing to at least a plurality of the consumers, access to funds in their respective consumer accounts, such access being based upon the cash value in that consumer account.
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Abstract
A centralized system of accumulating cash value for consumers based upon point-of-sale transactions with multiple merchants is disclosed wherein for each transaction, the consumer'"'"'s account number (such as the Social Security number) which may be different from the consumer'"'"'s credit card account number, for example, is transmitted to a central system along with data identifying the merchant and a credit value for the transaction. The credit value may be based upon predetermined incentives associated with the transaction such as coupons, rebates or discounts, and/or upon a credit rate determined by the merchant applied to the amount of the transaction. At the central location, a cash value for that consumer is incremented by the credit value and a bill value for that merchant is similarly incremented. Periodically, the merchants are billed for the accumulated bill value or credited for any third party incentive amounts confirmed at the central location. Also, at selected intervals, consumers are given access to their respective accumulated cash values by either a check in that amount or through a funds dispensing electronic terminal access or the like.
938 Citations
40 Claims
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1. A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising:
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at the point-of-sale, obtaining from the consumer an account number unique to the consumer and which is independent of how the consumer pays for the transaction; at a merchant location, determining a credit value for the transaction; electronically providing from the merchant location to a central system for each transaction, the consumer'"'"'s account number and the credit value; for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer'"'"'s account number by increasing the cash value in that consumer account in relation to the credit value; and selectively providing to at least a plurality of the consumers, access to funds in their respective consumer accounts, such access being based upon the cash value in that consumer account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A centralized consumer cash value system for transactions between consumers and multiple merchants comprising:
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at each merchant location at least; consumer data input means at the point-of-sale for inputting an account number unique to the customer independent of how the consumer pays for the transaction; processor means for determining a credit value for the transaction; and first communication means for electronically transmitting to the central system the consumer'"'"'s account number and the credit value related to each transaction; and at a central location, a central system having at least; second communication means for electronically receiving the consumer'"'"'s account number and the credit value related to each transaction; consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number; processor means for incrementing the cash value in a consumer account associated with a received consumer account number by an amount related to the received credit value; and unit means for selectively providing to at least a plurality of consumers access to funds in an amount based upon the cash value in the consumer account associated with that consumer. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising:
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each merchant determining at least one credit rate at the point-of-sale, obtaining from the consumer an account number unique to the consumer; at a merchant location, determining a credit value for the transaction based upon the dollar amount of the transaction and the applicable credit rate determined by that merchant; providing to a central system for each transaction, the consumer'"'"'s account number and the credit value; for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer'"'"'s account number by increasing the cash value in that consumer account in relation to the credit value; and selectively providing at least a plurality of the consumers access to funds in their respective consumer accounts, such access being based upon the cash value in that consumer account. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32)
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33. A centralized consumer cash value system for transactions between consumers and multiple merchants comprising:
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at each merchant location at least; consumer data input means at the point-of-sale for inputting an account number unique to the customer; transaction data means for inputting the dollar amount of the point-of-sale transaction; memory means for storing a credit rate selected by the merchant; processor means for determining a credit value based upon the dollar amount of the point-of-sale transaction and the selected credit rate; and first communication means for transmitting to the central system the consumer'"'"'s account number and the credit value related to each transaction; and at a central location, a central system having at least; second communication means for receiving the consumer'"'"'s account number and the credit value related to each transaction; consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number; processor means for incrementing the cash value in a consumer account associated with a received consumer account number by an amount related to the received credit value; and unit means for selectively providing to at least a plurality of consumers access to funds in an amount based upon the cash value in the consumer account associated with that consumer. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40)
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Specification