System and method for managing customized reward offers

• US 7,430,521 B2
• Filed: 08/12/2002
• Issued: 09/30/2008
• Est. Priority Date: 08/28/1997
• Status: Expired due to Fees

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: Walker Digital LLC (Walker Innovation Inc. (f/k/a Patent Properties, Inc.))
• Inventors: Tulley, Stephen C., Downs, Michael D., Walker, Jay S., Jindal, Sanjay K., Weir-Jones, Toby
• Primary Examiner(s): Alvarez, Raquel
• Application Number:
  US10/218,157
• Publication Number:
  US 20030061097A1
• Time in Patent Office: 2,241 Days
• Field of Search: 705/10, 705/14, 705/30, 705/34, 705/35, 705/38, 705/39, 705/40, 705/41
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0211 Determining the effectiveness of discounts or incentives
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• 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 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

In accordance with some embodiments of the present invention, a method is provided for managing reward offers. A first performance target that is associated with a financial account is determined. Transaction data that is associated with the financial account is received, and a second performance target for the financial account is determined based on the transaction data.

Claims

1. A method comprising:

determining account data associated with the financial account;

determining a first performance target that is associated with the financial account;

determining a reward offer,

in which the reward offer is associated with at least one reward term;

transmitting an indication of the first performance target to the account holder;

transmitting an indication of the at least one reward term to the account holder;

receiving transaction data that is associated with the financial account; and

determining a second performance target based on the transaction data,

in which the second performance target is associated with the financial account.

2. A method comprising:

accessing historical account data associated with a financial account;

determining a first performance target associated with the financial account;

receiving transaction data associated with the financial account; and

determining a second performance target based on the transaction data,

in which the second performance target is associated with the financial account.

3. A method comprising:

determining account data that is associated with a financial account;

determining a first performance target that is associated with the financial account;

determining transaction data that is associated with the financial account; and

determining a second performance target based on the transaction data.

4. The method of claim 3, further comprising:

associating the second performance target with the financial account.

5. The method of claim 3, in which the account data is historical account data.

6. The method of claim 3, in which the financial account is a credit card account.

7. The method of claim 3, in which determining the account data comprises:

determining a period of time for which the financial account has been active.

8. The method of claim 3, in which determining the account data comprises:

determining an average principal payment.

9. The method of claim 3, in which determining the account data comprises:

determining an average balance transfer amount.

10. The method of claim 9, in which the total balance transfer amount comprises an amount transferred from the financial account.

11. The method of claim 9, in which the total balance transfer amount comprises an amount transferred to the financial account.

12. The method of claim 3, in which determining the account data comprises:

determining an average charge volume.

13. The method of claim 3, in which determining the account data comprises:

determining an average number of transactions in a predetermined period.

14. The method of claim 3, in which determining the account data comprises:

determining an account holder behavior score.

15. The method of claim 3, in which determining the account data comprises:

determining an account holder profitability score.

16. The method of claim 3, in which determining the account data comprises:

determining an account holder credit score.

17. The method of claim 3, in which determining the account data comprises:

determining an account holder performance score.

18. The method of claim 3, in which determining the first performance target comprises:

determining the first performance target based on the account data.

19. The method of claim 3, in which determining the transaction data comprises:

determining at least one criterion for qualifying a transaction.

20. The method of claim 3, in which determining the transaction data comprises:

determining a transaction that is associated with a transaction amount; and

determining whether the transaction amount is not less than a predetermined minimum amount.

21. The method of claim 3, in which determining the transaction data comprises:

determining a transaction that is associated with a merchant; and

determining whether the transaction is a qualified transaction based on the merchant.

22. The method of claim 3, in which determining the transaction data comprises:

determining a transaction that is associated with a merchant type; and

determining whether the transaction is a qualified transaction based on the merchant type.

23. The method of claim 3, further comprising:

determining a reward offer.

24. The method of claim 23, in which determining the reward offer comprises:

determining preference data that is associated with the financial account; and

determining the reward offer based on the preference data.

25. The method of claim 23, in which determining the reward offer comprises:

receiving preference data from an account holder that is associated with the financial account; and

determining the reward offer based on the preference data.

26. The method of claim 23, in which determining the reward offer comprises:

receiving preference data that is generated by an account holder that is associated with the financial account; and

determining the reward offer based on the preference data.

27. The method of claim 23, in which determining the reward offer comprises:

transmitting a menu to an account holder that is associated with the financial account,

the menu indicating at least one reward offer.

28. The method of claim 3, further comprising:

transmitting a reward offer to an account holder,

the reward offer including an indication of the first performance target and an indication of at least one reward term,

in which the account holder is associated with the financial account.

29. The method of claim 28, in which transmitting comprises:

printing an account statement.

30. The method of claim 28, in which transmitting comprises:

updating a database that is accessible by the account holder.

31. The method of claim 28, in which transmitting comprises:

displaying the reward offer at a website.

32. The method of claim 28, in which transmitting comprises:

transmitting the reward offer via an email.

33. The method of claim 28, the reward offer further including a description of a reward.

34. The method of claim 28, the reward offer further including an indication of a target period.

35. The method of claim 3, in which determining the second performance target comprises:

determining the second performance target based on the transaction data and the account data.

36. The method of claim 3, in which determining the second performance target comprises:

determining the second performance target based on the transaction data and the first performance target.

37. The method of claim 3, in which determining the second performance target comprises:

determining the second performance target based on the transaction data, the account data, and the first performance target.

38. The method of claim 3, further comprising:

determining whether an account holder associated with the financial account is eligible for a reward based on the transaction data.

39. The method of claim 38, in which determining whether the account holder is eligible for the reward comprises:

determining whether the account holder associated with the financial account is eligible for a reward based on the transaction data and the first performance target.

40. The method of claim 38, further comprising:

updating the financial account if the account holder is eligible for the reward.

41. The method of claim 38, further comprising:

decreasing an interest rate associated with the financial account if the account holder is eligible for the reward.

42. The method of claim 38, further comprising:

adjusting reward program point data associated with the account holder if the account holder is eligible for the reward.

43. The method of claim 38, further comprising:

increasing an amount of frequent flyer miles associated with the account holder if the account holder is eligible for the reward.

44. The method of claim 38, further comprising:

adjusting a minimum periodic payment parameter associated with the financial account if the account holder is eligible for the reward.

45. The method of claim 38, further comprising:

processing a rebate if the account holder is eligible for the reward.

46. The method of claim 38, in which the reward comprises a first percentage rate that is less than a second percentage rate that is associated with the financial account.

47. The method of claim 38, in which the reward comprises a number of reward points.

48. The method of claim 38, in which the reward comprises a number of frequent flyer miles.

49. The method of claim 38, in which the reward comprises a rebate.

50. The method of claim 38, in which the reward comprises a discount.

51. The method of claim 38, in which the reward comprises a gift.

52. The method of claim 38, in which the reward comprises a warranty.

53. The method of claim 38, in which the reward comprises an extension of a warranty.

54. The method of claim 38, in which the reward corresponds to a fee that is associated with the financial account.

55. The method of claim 38, in which the reward corresponds to a fee that is associated with an insurance program.

56. The method of claim 38, in which the reward corresponds to a fee that is associated with a service.

57. The method of claim 38, in which the reward comprises a reduced account fee.

58. The method of claim 38, in which the reward comprises a reduced insurance premium.

59. The method of claim 38, in which determining whether the account holder is eligible for the reward comprises:

applying the reward to the financial account; and

determining whether the account holder is eligible for the reward after applying the reward to the financial account.

60. A method comprising:

receiving a first customized reward offer that is associated with a credit card account,

the first customized reward offer indicating a first performance target, a first reward, and a first target period;

initiating a transaction with a merchant, the transaction being associated with the credit card account; and

receiving a second customized reward offer that is associated with the credit card account,

the second customized reward offer indicating a second performance target, a second reward, and a second target period,

in which the second customized reward offer is based on the transaction and the first performance target.