System and method for providing a fuel purchase incentive

• US 6,980,960 B2
• Filed: 03/28/2001
• Issued: 12/27/2005
• Est. Priority Date: 03/28/2001
• Status: Active Grant

• Current Assignee: Goldman Sachs & Co. LLC (Goldman Sachs Group Incorporated)
• Original Assignee: Goldman Sachs & Company (Goldman Sachs Group Incorporated)
• Inventors: Hajdukiewicz, Richard Stanley, Riley, James P.
• Primary Examiner(s): Carlson, Jeffrey D.
• Application Number:
  US09/819,338
• Publication Number:
  US 20020143616A1
• Time in Patent Office: 1,735 Days
• Field of Search: 705/14
• US Class Current: 705/14.34
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0213 Consumer transaction fees
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date

Abstract

A fuel purchase incentive is provided incident to the sale of a vehicle. With respect to the sale of an automobile, the incentive consists of a program price, for example a discount price or a capped maximum price, for a specified quantity of a specified brand and type of gasoline. The incentive is calculated as a function of the anticipated geographical and other use factors of the automobile buyer. The incentive information is provided to the buyer at the time of purchase of the automobile and stored for use by an incentive program operator. When the buyer purchases gasoline pursuant to the incentive program, that is of a specified brand, grade and quantity, the purchase information is transmitted to the incentive program operator. A rebate, equal generally to the difference between the retail price and the program price, is calculated and transmitted to a credit card processor for application to a credit card bill. A credit card account identifier is the preferred method of identifying the buyer and providing rebates under the program. The invention has application to vehicles other than automobiles and fuels other than gasoline. In one embodiment, a hedge program may be developed to offset the risk associated with guaranteeing the price of the fuel.

Claims

1. A method operable on a computer to provide a plurality of users participating in a fuel pricing program respective rebate payments relating to purchases of automotive fuel, comprising the steps of:

receiving an account identifier associated with each user;

receiving, from each user, an anticipated geographic area associated with automotive fuel purchases;

storing said received anticipated geographic areas in association with each respective received account identifier on said computer;

receiving purchase information indicating purchases of said automotive fuel at a retail price and at a geographic location using a respective account identifier;

storing said received purchase information on said computer;

utilizing the computer to calculate a payment due to each user; and

providing each user a respective calculated payment;

wherein each respective payment is calculated by said computer based at least in part upon one of a first program price associated with each user and a second program price associated with each user as well as upon said retail price, wherein the first program price for each user is independent of the first program price for each other user and the second program price for each user is independent of the second program price for each other user; and

wherein each payment for each user is calculated by said computer based at least in part upon the respective first program price for that user when the geographic location of the automotive fuel purchase corresponds to the anticipated geographic area associated with automotive fuel purchases for that user and each payment for each user is calculated by said computer based at least in part upon the respective second program price for that user when the geographic location of the automotive fuel purchase does not correspond to said anticipated geographic area associated with automotive fuel purchases for that user.

2. The method of claim 1, wherein at least one of said first program price for each user and said second program price for each user is a discount to said retail price.

3. The method of claim 1, wherein at least one of said first program price for each user and said second program price for each user is a capped price.

4. The method of claim 1, wherein at least one of said first program price for each user and said second program price for each user is based at least in part upon an effective time period, and a quantity, a grade and a brand of said automotive fuel;

and said purchase information includes a date, a quantity, a grade and a brand of said automotive fuel.

5. The method of claim 1, wherein said account identifier identifies a co-branded account having a finders fee associated therewith;

and at least one of said first program price for each user and said second program price for each user is based at least in part on said finders fee.

6. The method of claim 1, wherein at least one of said first program price for each user and said second program price for each user is inclusive of taxes on said automotive fuel.

7. The method of claim 1, wherein at least one of said first program price for each user and said second program price for each user is exclusive of taxes on said automotive fuel.

8. The method of claim 1, wherein said payment due to each of said users is provided as a credit to an account identified by a respective account identifier.

9. A system for providing a plurality of users participating in a fuel pricing program respective rebate payments relating to purchases of an automotive fuel, comprising:

a processor; and

a memory operatively connected to said processor;

wherein said processor is operative with control instructions in said memory to perform the steps of;

receiving an account identifier associated with each user;

receiving, from each user, an anticipated geographic area associated with automotive fuel purchases;

storing said received anticipated geographic areas in association with each respective account identifier in said memory;

receiving purchase information indicating purchases of said automotive fuel at a retail price and at a geographic location using a respective account identifier;

storing said received purchase information in said memory;

utilizing the processor to calculate a payment due to each user; and

providing each user the calculated payment;

wherein each respective payment is calculated by said processor based at least in part upon one of a first program price associated with each user and a second program price associated with each user as well as upon said retail price, wherein the first program price for each user is independent of the first program price for each other user and the second program price for each user is independent of the second program price for each other user; and

wherein each payment for each user is calculated by said processor based at least in part upon the first program price for that user when the geographic location of the automotive fuel purchase corresponds to said anticipated geographic area associated with automotive fuel purchases for that user and each payment for each user is calculated by said processor based at least in part upon the second program price for that user when the geographic location of the automotive fuel purchase does not correspond to said anticipated geographic area associated with automotive fuel purchases for that user.

10. The system of claim 9, wherein at least one of said first program price for each user and said second program price for each user is a discount to said retail price.

11. The system of claim 9, wherein at least one of said first program price for each user and said second program price for each user is a capped price.

12. The system of claim 9, wherein at least one of said first program price for each user and said second program price for each user is based at least in part upon an effective time period, and a quantity, a grade and a brand of said automotive fuel;

and said purchase information includes a date, a quantity, a grade and a brand of said automotive fuel.

13. The system of claim 9, wherein said account identifier identifies a co-branded account having a finders fee associated therewith;

and at least one of said first program price for each user and said second program price for each user is based at least in part on said finders fee.

14. The system of claim 9, wherein at least one of said first program price for each user and said second program price for each user is inclusive of taxes on said automotive fuel.

15. The system of claim 9, wherein at least one of said first program price for each user and said second program price for each user is exclusive of taxes on said automotive fuel.

16. The system of claim 9, wherein said payment due to each of said users is provided as a credit to an account identified by a respective account identifier.