System and method for managing customized reward offers

• US 8,126,771 B2
• Filed: 09/25/2008
• Issued: 02/28/2012
• 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:
  US12/237,716
• Publication Number:
  US 20090024484A1
• Time in Patent Office: 1,251 Days
• Field of Search: 705/14.17, 705/14.27, 705/14.34, 705/30, 705/34, 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 a performance target and a target period to associate with a financial account;

determining, by a central controller device, a reward offer to associate with the performance target;

providing an indication of the performance target and the reward offer to an account holder of the financial account;

receiving, by the central controller device, transaction data associated with the financial account during the target period;

comparing, by the central controller device aggregate transaction data of the target period to the performance target to determine a remaining transaction amount required to achieve the performance target and to determine a second performance target;

providing an indication of the second performance target to the account holder; and

providing an indication of the remaining transaction amount to the account holder.

2. The method of claim 1, in which determining the performance target comprises basing the performance target on account data associated with the financial account.

3. The method of claim 2, wherein the account data comprises at least one of an average principal payment, an average balance transfer amount, an average charge volume, or an average number of transactions in a predetermined period.

4. The method of claim 1, wherein the performance target comprises an average charge volume, and wherein the remaining transaction amount comprises the difference between the performance target and an aggregate charge volume.

5. The method of claim 1, wherein the performance target comprises an average number of transactions during the target period, and wherein the remaining transaction amount comprises the difference between the performance target and an aggregate number of transactions.

6. The method of claim 1, in which providing an indication of the remaining transaction amount comprises at least one of updating a database accessible by the account holder, displaying the indication on a website, or transmitting an indication to the account holder.

7. The method of claim 1, wherein the indication of the remaining transaction amount comprises an indication that the reward has been earned.

8. The method of claim 1, in which providing an indication of the performance target and the reward offer comprises at least one of printing an account statement for the account holder, updating a database accessible by the account holder, displaying the indication on a website, or transmitting an electronic signal to the account holder.

9. The method of claim 1, wherein the financial account is a credit card account.

10. The method of claim 1, 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.

11. The method of claim 1, in which determining the reward offer comprises:

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

determining the reward offer based on the preference data.

12. The method of claim 1, in which determining the reward offer comprises:

transmitting a menu to an account holder that is associated with the financial account, wherein the menu indicates at least one reward offer.

13. The method of claim 1, in which receiving the transaction data during the target period further comprises determining that at least one criterion for qualifying the transaction is satisfied.

14. The method of claim 13, wherein the at least one criterion comprises a transaction amount that is not less than a predetermined minimum amount.

15. The method of claim 13, wherein the at least one criterion comprises a transaction that is associated with at least one of a merchant or a merchant type.

16. The method of claim 1, further comprising providing the reward.

17. The method of claim 16, wherein the reward comprises at least one of a decrease of a fee associated with the financial account, a decrease of an interest rate associated with the financial account, or an adjustment of a minimum periodic payment parameter associated with the financial account.

18. The method of claim 16, wherein the reward comprises at least one of a rebate, a discount, or a gift.

19. The method of claim 16, wherein the reward comprises an increase of reward program points, or an increase of an amount of frequent flyer miles.

20. The method of claim 16, wherein the reward comprises at least one of a warranty, or an extension of a warranty.

21. The method of claim 16, wherein the reward comprises a decrease of a fee that is associated with a service, or a reduced insurance premium.

22. The method of claim 16, in which providing the reward comprises providing the reward to the account holder before the performance target is achieved and before the target period expires.

23. The method of claim 22, further comprising:

determining that the account holder failed to achieve the performance target; and

voiding the reward.

24. A non-transitory computer readable medium storing instructions configured to direct a processor to:

determine a performance target and a target period to associate with a financial account;

determining, by a central controller device, a reward offer to associate with the performance target;

providing an indication of the performance target and the reward offer to an account holder of the financial account;

receiving, by the central controller device, transaction data associated with the financial account during the target period;

comparing, by the central controller device aggregate transaction data of the target period to the performance target to determine a remaining transaction amount required to achieve the performance target and to determine a second performance target;

providing an indication of the second performance target to the account holder; and

provide an indication of the remaining transaction amount to the account holder.

25. The non-transitory computer readable medium of claim 24, in which the instructions for determining the performance target comprise instructions configured to direct the processor to base the performance target on account data associated with the financial account.

26. The non-transitory computer readable medium of claim 25, in which the instructions for basing the performance target on account data comprise instructions configured to direct the processor to utilize at least one of an average principal payment, an average balance transfer amount, an average charge volume, or an average number of transactions in a predetermined period.

27. The non-transitory computer readable medium of claim 24, in which the instructions for determining the performance target comprise instructions configured to direct the processor to utilize an average charge volume, and in which the instructions for determining the remaining transaction amount comprise instructions configured to direct the processor to compare the difference between the performance target and an aggregate charge volume.

28. The non-transitory computer readable medium of claim 24, in which the instructions for determining the performance target comprise instructions configured to direct the processor to utilize an average number of transactions during the target period, and in which the instructions for determining the remaining transaction amount comprise instructions configured to direct the processor to compare the difference between the performance target and an aggregate number of transactions.

29. The non-transitory computer readable medium of claim 24, in which the instructions for providing an indication of the remaining transaction amount comprise instructions configured to direct the processor to at least one of update a database accessible by the account holder, display the indication on a website, or transmit an indication to the account holder.

30. The non-transitory computer readable medium of claim 24, in which the instructions for providing an indication of the remaining transaction amount comprise instructions configured to direct the processor to provide an indication that the reward has been earned.

31. The non-transitory computer readable medium of claim 24, in which the instructions for providing an indication of the performance target and the reward offer comprise instructions configured to direct the processor to at least one of provide for printing an account statement for the account holder, update a database accessible by the account holder, provide for displaying the indication on a website, or transmit an electronic signal to the account holder.

32. The non-transitory computer readable medium of claim 24, in which the instructions for determining the reward offer comprise instructions configured to direct the processor to:

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

determine the reward offer based on the preference data.

33. The non-transitory The computer readable medium of claim 24, in which the instructions for determining the reward offer comprise instructions configured to direct the processor to:

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

determine the reward offer based on the preference data.

34. The non-transitory computer readable medium of claim 24, in which the instructions for determining the reward offer comprise instructions configured to direct the processor to transmit a menu to an account holder that is associated with the financial account, wherein the menu indicates at least one reward offer.

35. The non-transitory computer readable medium of claim 24, in which the instructions for receiving the transaction data during the target period comprise instructions configured to direct the processor to determine that at least one criterion for qualifying the transaction is satisfied.

36. The non-transitory computer readable medium of claim 35, in which the instructions for determining that at least one criterion for qualifying the transaction is satisfied comprise instructions configured to direct the processor to determine that a transaction amount is not less than a predetermined minimum amount.

37. The non-transitory computer readable medium of claim 35, in which the instructions for determining that at least one criterion for qualifying the transaction is satisfied comprise instructions configured to direct the processor to determine that the transaction that is associated with at least one of a merchant or a merchant type.

38. The non-transitory computer readable medium of claim 24, further comprising instructions configured to direct the processor to provide the reward.

39. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to at least one of a decrease a fee associated with the financial account, decrease an interest rate associated with the financial account, or adjust a minimum periodic payment parameter associated with the financial account.

40. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to provide at least one of a rebate, a discount, or a gift.

41. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to at least one of increase reward program points, or increase an amount of frequent flyer miles.

42. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to at least one of provide a warranty, or extend a warranty.

43. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to at least one of decrease a fee that is associated with a service, or reduce an insurance premium.

44. The non-transitory computer readable medium of claim 38, in which the instructions for providing the reward comprise instructions configured to direct the processor to at least one of provide the reward to the account holder before the performance target is achieved and before the target period expires.

45. The non-transitory computer readable medium of claim 44, further comprising instructions configured to direct the processor to:

determine that the account holder failed to achieve the performance target; and

void the reward.

46. An apparatus, comprising:

a processor; and

a storage device operably connected to the processor, wherein the storage device stores instructions configured to direct the processor to;

determine a performance target and a target period to associate with a financial account;

determine a reward offer to associate with the performance target;

provide an indication of the performance target and the reward offer to an account holder of the financial account;

receive transaction data associated with the financial account during the target period;

compare aggregate transaction data of the target period to the performance target to determine a remaining transaction amount required to achieve the performance target and to determine a second performance target;

providing an indication of the second performance target to the account holder; and

provide an indication of the remaining transaction amount to the account holder.