System and method for funding a collective account by use of an electronic tag

• US 6,945,453 B1
• Filed: 08/13/2001
• Issued: 09/20/2005
• Est. Priority Date: 08/13/2001
• Status: Expired due to Term

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: Bank One Delaware NA (JP Morgan Chase & Co)
• Inventors: Schwarz, Charles E. Jr.
• Primary Examiner(s): PAIK, STEVE S
• Application Number:
  US09/927,462
• Time in Patent Office: 1,499 Days
• Field of Search: 235/375, 235/380, 235/382, 235/384, 235/383, 235/487, 235/492, 705/1, 705/13, 705/14, 705/17, 340/870.17
• US Class Current: 235/375
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/0279 Fundraising management
• CPC Class Codes: G07B 15/063 using wireless information transmission between the vehicle and a fixed station identification of vehicles G08G

Abstract

A system and method for funding a collective account via aggregating usage of electronic tags is disclosed. The system and method promotes the use of electronic tags, and the funding of collective accounts that may be associated with charitable or other philanthropic causes. Further benefits may be realized by replenishing the prefunded account that serves as the source of funds for the electronic tag to an affinity account that also benefits the charitable or other philanthropic cause.

Claims

1. A method for distributing a reward, comprising:

associating a tag with an individual account, a financial institution and at least one organization, wherein the tagholder is the holder of the individual account, wherein further the financial institution comprises one or more host computers, wherein further the host computer aggregates tag usage and calculates a first reward based on aggregate tag usage, wherein tag usage comprises aggregating purchase amounts for purchases of at least one of goods or services from a plurality of merchants when the tag is presented to the merchant at time of purchase;

attributing the first reward to the individual account;

attributing a second reward to a collective account associated with the at least one organization, wherein the at least one organization comprises at least one of a business organization, a trade organization, a political party, a religious organization, an athletic organization, a professional society, an educational organization, a charitable organization, a fund-raising organization, and a governmental organization, or combinations thereof; and

distributing the first reward to the tagholder upon demand by the tagholder to the financial institution.

2. The method of claim 1, further comprising:

associating the tag with at least one prefunded account, wherein the prefunded account has a balance;

maintaining at least one of the prefunded accounts; and

debiting the balance of at least one of the prefunded accounts in an amount related to tag usage.

3. The method of claim 2, further comprising replenishing the prefunded account balance with funds from the individual account associated with the tag upon fulfillment of some predetermined condition.

4. The method of claim 2, wherein the individual account is associated with at least one loyalty program, wherein further the tagholder earns a third reward based on the tagholder'"'"'s participation in the loyalty programs.

5. The method of claim 1, wherein the second reward is calculated based on aggregate tag usage.

6. The method of claim 1, wherein the tag is branded with a symbol, name and/or colors generally associated with the at least one organization.

7. The method of claim 1, wherein the tag comprises a sound generating device.

8. The method of claim 7, wherein the sound generating device generates a programmed sound generally associated with the organization.

9. The method of claim 1, wherein one or both of the first and second rewards comprise cash, airline miles, reward points, services, goods, rebates, up front payments, statement credit, discounts or combinations thereof.

10. The method of claim 1, wherein the tagholder selects the organization.

11. The method of claim 1, wherein the tagholder earns a fourth reward from the issuer of the individual account based on individual account usage.

12. The method of claim 1, wherein the tag comprises an LED controllable via the tagholder.

13. The method of claim 1, wherein the tag comprises an LCD controllable via the tagholder.

14. The method of claim 1, wherein the tag comprises at least one communication port allowing the tag to communicate with other devices.

15. The method of claim 1, wherein the tag comprises a microprocessor.

16. The method of claim 1, wherein the tag comprises a transmitter.

17. The method of claim 1, wherein the tag further comprises at least one of a smart card, a plastic card, a bar coded sticker, a transponder readable by a reader/antenna, or combinations thereof.

18. The method of claim 17, wherein the tag operates in half duplex mode.

19. The method of claim 17, wherein the tag operates in full duplex mode.

20. The method of claim 1, wherein the individual account comprises a credit account, a debit account or a stored value account.

21. The method of claim 1, wherein the tagholder makes the demand substantially upon association of the tag with the individual account.

23. The method of claim 21, wherein the demand comprises automatic periodical distribution of the first reward to the individual account.

22. The method of clam 21, wherein the demand comprises automatic distribution of the first reward to the individual account substantially upon tag usage.

24. An automated, computer-based method for distributing rewards to an individual account and a collective account comprising:

maintaining a prefunded first account that is associated with at least one tag, wherein the prefunded first account has an account balance, wherein further the tag is associated with the tagholder, a financial institution and at least one organization, wherein further the financial institution comprises one or more host computers, wherein further the host computer aggregates tag usage and calculates a first reward based on aggregate tag usage, wherein tag usage comprises funding purchases for at least one of goods or services from a plural of merchants with the prefunded account when the tag is presented to the merchant at time of payment for the purchases;

associating the prefunded first account with a second account;

attributing the first reward to the second account;

attributing a second reward to a collective account associated with the at least one organization, wherein the at least one organization comprises at least one of a business organization, a trade organization, a political party, a religious organization, an athletic organization, a professional society, an educational organization, a charitable organization, a fund-raising organization, and a governmental organization, or combinations thereof; and

distributing the first reward to the tagholder upon demand by the tagholder.

25. The method of claim 24, wherein the second reward is calculated based on aggregate tag usage.

26. The method of claim 24, wherein the tag is branded with a symbol, name and/or colors generally associated with the at least one organization.

27. The method of claim 24, wherein the tag comprises a sound generating device.

28. The method of claim 27, wherein the sound generating device generates a programmed sound generally associated with the organization.

29. The method of claim 24, wherein one or both of the first and second rewards comprise cash, airline miles, reward points, services, goods, rebates, up front payments, statement credit, discounts or combinations thereof.

30. The method of claim 24, wherein the tagholder selects the organization.

31. The method of claim 24, wherein the tagholder earns a third reward from the issuer of the second account based on second account usage.

32. The method of claim 24, wherein the tag comprises an LED controllable via the tagholder.

33. The method of claim 24, wherein the tag comprises an LCD controllable via the tagholder.

34. The method of claim 24, wherein the tag comprises at least one communication port allowing the tag to communicate with other devices.

35. The method of claim 24, wherein the tag comprises a microprocessor.

36. The method of claim 24, wherein the tag comprises a transmitter.

37. The method of claim 24, wherein the tag further comprises at least one of a smart card, a plastic card, a bar coded sticker, a transponder readable by a reader/antenna, or combinations thereof.

38. The method of claim 37, wherein the tag operates in half duplex mode.

39. The method of claim 38, wherein the tag operates in full duplex mode.