Centralized consumer cash value accumulation system for multiple merchants
First Claim
1. A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising:
- a. at the point-of-sale, obtaining from the consumer an account number unique to the consumer;
b. at a merchant location, determining a credit value for the transaction;
c. electronically providing, for each transaction, from the merchant location to a central system the consumer'"'"'s account number and the credit value;
d. 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.
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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.
908 Citations
13 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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a. at the point-of-sale, obtaining from the consumer an account number unique to the consumer; b. at a merchant location, determining a credit value for the transaction; c. electronically providing, for each transaction, from the merchant location to a central system the consumer'"'"'s account number and the credit value; d. 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. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A centralized consumer cash value system for transaction 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; 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; and 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 in relation to the received credit value. - View Dependent Claims (9, 10, 11, 12, 13)
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Specification