System for electronic barter, trading and redeeming points accumulated in frequent use reward programs
First Claim
1. A method of operating a reward points accumulation and redemption program comprising the steps of:
- a) a user executing a plurality of transactions, each of which will earn reward points based on parameters of the transaction;
b) tracking the earned reward points in a plurality of user reward point accountsc) selecting an item for purchase from a merchant with a combination of earned reward points;
d) the user selectively designating a predetermined number of said earned reward points from each of at least two of said user'"'"'s reward point accounts for redemption for said item selected for purchase, ande) combining the user'"'"'s designated earned reward points for redemption for said item selected for purchase.
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Abstract
A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of independent reward points issuing entities, with each tracking the user'"'"'s earned reward points in a user reward point account stored on a rewards server (such as a frequent flyer account or a credit card loyalty account). A trading server accumulates some or all of the user'"'"'s earned reward points from the reward servers and credits the accumulated points into a single reward exchange account associated with the user. The user may then select an item for purchase with the accumulated reward points. The item is provided to the user in exchange for a subset or all of the reward points.
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Citations
23 Claims
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1. A method of operating a reward points accumulation and redemption program comprising the steps of:
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a) a user executing a plurality of transactions, each of which will earn reward points based on parameters of the transaction; b) tracking the earned reward points in a plurality of user reward point accounts c) selecting an item for purchase from a merchant with a combination of earned reward points; d) the user selectively designating a predetermined number of said earned reward points from each of at least two of said user'"'"'s reward point accounts for redemption for said item selected for purchase, and e) combining the user'"'"'s designated earned reward points for redemption for said item selected for purchase. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A reward points accumulation and redemption system comprising:
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a) means for storing a plurality of user reward point accounts; b) means for tracking reward points in said plurality of user reward point accounts, said reward points earned by a user based on the user executing transactions; c) means for selecting an item for purchase from a merchant with a combination of earned reward points; d) means for the user selectively designating a predetermined number of said earned reward points from each of at least two of said user'"'"'s reward point accounts for redemption for said item selected for purchase, and e) means for combining the user'"'"'s designated earned reward points for redemption for said item selected for purchase. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23)
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Specification