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System and method for providing a discount credit transaction network

  • US 6,014,635 A
  • Filed: 12/08/1997
  • Issued: 01/11/2000
  • Est. Priority Date: 12/08/1997
  • Status: Expired due to Term
First Claim
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1. A method for providing a discount for a credit transaction, for use in a discount credit network comprising a plurality of transaction card issuers each having a plurality of participants holding a transaction card account issued by the card issuer, the method comprising the steps of:

  • (a) assigning each participant a membership number wherein the membership number is associated with the particular participant'"'"'s transaction card account;

    (b) providing a computerized discount authorization processor operatively connected to the discount credit network comprising;

    (i) a database containing the membership numbers and their associated transaction card accounts; and

    (ii) processing means for correlating the membership numbers to their associated transaction card accounts and transaction card issuers;

    (c) presenting, by the participant, the membership number to an authorized merchant for a transaction;

    (d) issuing a first discount authorization request from said authorized merchant through the discount credit network to the discount authorization processor, wherein the first discount authorization request includes transaction data comprising the particular participant'"'"'s membership number and an amount for the transaction;

    (e) correlating the membership number to its associated transaction card account and transaction card issuer;

    (f) issuing a second discount authorization request to the transaction card issuer associated with the transaction card account through the credit network, the second discount authorization request comprising the particular participant'"'"'s transaction card account and the amount of the transaction;

    (g) receiving, by the discount authorization processor, an authorization response signal from the transaction card issuer, said signal indicating a response to the proposed transaction; and

    (h) forwarding the authorization response signal to the authorized merchant.

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