Exchange of non-negotiable credits for entity independent funds

• US 8,267,315 B1
• Filed: 05/24/2012
• Issued: 09/18/2012
• Est. Priority Date: 05/25/2006
• Status: Expired due to Fees

• Current Assignee: JBSHBM, LLC
• Original Assignee: Brian K. Buchheit, Sean I. Mcghie
• Inventors: MCGHIE, SEAN I., BUCHHEIT, BRIAN K.
• Primary Examiner(s): Labaze, Edwyn
• Application Number:
  US13/479,417
• Time in Patent Office: 117 Days
• Field of Search: 235/380, 235/375, 235/379, 235/487, 235/486, 235/382
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0227 Frequent usage incentive value reconciliation between diverse systems
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes
• CPC Class Codes: G07F 17/3255 Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements

Abstract

In one embodiment, credits earned by an end-user from previous interactions between the end-user and an entity can be stored. The storing of credits can alter one or more records of a credit account. The credit account is owned or controlled by the entity. A quantity of the credits of the credit account is identified. This quantity is applied to a purchase in accordance with a credit to funds ratio. Applying the quantity of the credits reduces a number of credits in the credit account as indicated by the records. Funds are transferred to a funds account based on the quantity of stored credits applied to the purchase and the credit to funds ratio. The fund account is not owned or controlled by the entity.

Claims

1. A method comprising:

a computer identifying non-negotiable credits earned from previous interactions with an entity, wherein records for the non-negotiable credits are maintained in a non-negotiable credit account stored in at least one storage device, wherein said non-negotiable credit account is owned or controlled by the entity;

the computer converting a quantity of the non-negotiable credits of the non-negotiable credit account to a quantity of negotiable funds of a funds account stored in at least one storage device, wherein the funds account is not owned or controlled by the entity; and

permitting access to the quantity of negotiable funds of the funds account, wherein the quantity of negotiable funds of the funds account are able to be applied to one or more purchases, wherein in absence of the converting the non-negotiable credits are not able to be applied to the one or more purchases, wherein permitting access to the quantity of negotiable funds is defined as;

(a) the entity providing one or more users with cash, credit, or other negotiable funds, whereby the one or more users are able to thereafter apply the cash, credit, or other negotiable funds to the one or more purchases;

(b) the entity providing a vender for the one or more purchases with cash, credit, or other negotiable funds, whereby one or more users are able to purchase goods or services from the vender using the entity provided cash, credit, or other negotiable funds;

or

(c) combinations of (a) and (b).

2. The method of claim 1, wherein the converting is performed by a different legal entity than the entity.

3. The method of claim 1, wherein the computer comprises computing equipment, wherein said computing equipment comprises at least one processor executing program instructions that are digitally encoded in at least one storage device.

4. The method of claim 1, wherein the computer converting the quantity of non-negotiable credits to negotiable funds comprises:

the computer subtracting the quantity of the non-negotiable credits from the non-negotiable credit account; and

the computer adding the quantity of funds to the funds account.

5. The method of claim 1, wherein the converting is performed by a conversion agency that is not the entity.

6. The method of claim 1, wherein the converting is performed by a vender that provides goods or services to consumers engaged in the one or more purchases.

7. The method of claim 1, wherein the funds account is an account of a vender providing one or more goods or one or more services for the one or more purchases.

8. The method of claim 1, wherein the funds of the funds account are negotiable funds, wherein the non-negotiable credits have restrictions on use that prevent their being directly applied to the one or more purchases.

9. The method of claim 1, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

10. A method comprising:

at least one processor, responsive to executing program instructions of at least one memory, determining a quantity of funds required for completion of a sale;

at least one processor, responsive to executing program instructions of at least one memory, reducing the quantity of funds required for completion of the sale by a second quantity of funds, wherein the second quantity of funds equals an amount of funds resulting from a conversion of a quantity of non-negotiable credits in accordance with a credits to funds ratio, wherein said non-negotiable credits are earned from previous interactions with an entity; and

at least one processor, responsive to executing program instructions of at least one memory, completing the sale based on a purchaser expending the quantity of non-negotiable credits for the sale and expending a quantity of funds at least equal to a difference of the first quantity minus the second quantity of funds, wherein said expended quantity of funds is less than the first quantity of funds, wherein the non-negotiable funds are not honored for the sale in absence of the quantity of non-negotiable credits being converted into the second quantity of funds.

11. The method of claim 10, wherein said first and second quantity of funds are negotiable funds.

12. The method of claim 10, wherein said sale is for an online purchase of goods or services.

13. The method of claim 10, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

14. The method of claim 10, wherein the sale is not completed by the entity.

15. The method of claim 10, wherein the purchaser is an end-user that earned the non-negotiable credits through the previous interactions with the entity.

16. The method of claim 10, further comprising:

at least one processor, responsive to executing program instructions of at least one memory, initiating a redemption action that redeems the quantity of non-negotiable credits on behalf of a facilitator of the sale, wherein the redemption action results in the facilitator receiving;

the second quantity of funds;

the second quantity of funds minus a service fee;

the second quantity of funds minus a previously determined percentage for converting the credits to funds;

or

the second quantity of funds minus a service fee and minus a previously determined percentage for converting the credits to funds.

17. The method of claim 10, a facilitator of the sale redeeming the non-negotiable credits from the entity for funds.

18. A method comprising:

at least one processor, responsive to executing program instructions of at least one memory, accessing a storage device containing information of a non-negotiable credit account associated with an entity, wherein non-negotiable credits of the non-negotiable credit account earned from previous interactions with the entity, wherein said non-negotiable funds have a restriction on their use;

at least one processor, responsive to executing program instructions of at least one memory, determining an availability of a quantity of the non-negotiable credits to be applied to a purchase even though the restriction on use prevents the non-negotiable funds from being directly applied to the purchase;

at least one processor, responsive to executing program instructions of at least one memory, accessing a second storage device containing information of a fund account, wherein funds of the fund account are applied to a cost of goods or services for the purchase, wherein the funds of the funds account do not have the restriction on use;

at least one processor, responsive to executing program instructions of at least one memory, subtracting the quantity of non-negotiable credits from the non-negotiable credit account, responsive to the purchase; and

at least one processor, responsive to executing program instructions of at least one memory, adding an amount of funds to the funds account resulting from converting the quantity of non-negotiable credits to funds in accordance with a credits to funds ratio, wherein said adding occurs responsive to the purchase.

19. The method of claim 18, wherein the subtracting and the adding are actions not taken by the entity.

20. The method of claim 18, wherein the purchase is an online shopping purchase.

21. The method of claim 18, wherein the funds are entity independent funds, and wherein the purchase occurs through an online marketplace.

22. A computer program product comprising:

one or more computer-readable, tangible storage devices;

program instructions, stored on at least one of the one or more storage devices, to identify non-negotiable credits earned from previous interactions with an entity, wherein records for the non-negotiable credits are maintained in a non-negotiable credit account stored in at least one storage device, wherein said non-negotiable credit account is owned or controlled by the entity;

program instructions, stored on at least one of the one or more storage devices, to convert a quantity of the non-negotiable credits of the non-negotiable credit account to a quantity of negotiable funds of a funds account stored in at least one storage device, wherein the funds account is not owned or controlled by the entity; and

program instructions, stored on at least one of the one or more storage devices, to permit access to the quantity of negotiable funds of the funds account, wherein the quantity of negotiable funds of the funds account are able to be applied to one or more purchases, wherein in absence of the converting the non-negotiable credits are not able to be applied to the one or more purchases, wherein permitting access to the quantity of negotiable funds is defined as;

(a) the entity providing one or more users with cash, credit, or other negotiable funds, whereby the one or more users are able to thereafter apply the cash, credit, or other negotiable funds to the one or more purchases;

(b) the entity providing a vender for the one or more purchases with cash, credit, or other negotiable funds, whereby one or more users are able to purchase goods or services from the vender using the entity provided cash, credit, or other negotiable funds;

or

(c) combinations of (a) and (b).

23. The computer program product of claim 22, wherein the converting is performed by a different legal entity than the entity.

24. The computer program product of claim 22, further comprising:

program instructions, stored on at least one of the one or more storage devices, to subtract the quantity of the non-negotiable credits from the non-negotiable credit account; and

program instructions, stored on at least one of the one or more storage devices, to add the quantity of funds to the funds account.

25. The computer program product of claim 22, wherein the converting is performed by a conversion agency that is not the entity.

26. The computer program product of claim 22, wherein the converting is performed by a vender that provides goods or services to consumers engaged in the one or more purchases.

27. The computer program product of claim 22, wherein the funds account is an account of a vender providing one or more goods or one or more services for the one or more purchases.

28. The computer program product of claim 22, wherein the funds of the funds account are negotiable funds, wherein the non-negotiable credits have restrictions on use that prevent their being directly applied to the one or more purchases.

29. The computer program product of claim 22, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

30. A system comprising:

one or more processors;

one or more memories;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to identify non-negotiable credits earned from previous interactions with an entity, wherein records for the non-negotiable credits are maintained in a non-negotiable credit account stored in at least one storage device, wherein said non-negotiable credit account is owned or controlled by the entity;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to convert a quantity of the non-negotiable credits of the non-negotiable credit account to a quantity of negotiable funds of a funds account stored in at least one storage device, wherein the funds account is not owned or controlled by the entity; and

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to permit access to the quantity of negotiable funds of the funds account, wherein the quantity of negotiable funds of the funds account are able to be applied to one or more purchases, wherein in absence of the converting the non-negotiable credits are not able to be applied to the one or more purchases, wherein permitting access to the quantity of negotiable funds is defined as;

(a) the entity providing one or more users with cash, credit, or other negotiable funds, whereby the one or more users are able to thereafter apply the cash, credit, or other negotiable funds to the one or more purchases;

(b) the entity providing a vender for the one or more purchases with cash, credit, or other negotiable funds, whereby one or more users are able to purchase goods or services from the vender using the entity provided cash, credit, or other negotiable funds;

or

(c) combinations of (a) and (b).

31. The system of claim 30, wherein the converting is performed by a different legal entity than the entity.

32. The system of claim 30, further comprising:

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to subtract the quantity of the non-negotiable credits from the non-negotiable credit account; and

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to add the quantity of funds to the funds account.

33. The system of claim 30, wherein the converting is performed by a conversion agency that is not the entity.

34. The system of claim 30, wherein the converting is performed by a vender that provides goods or services to consumers engaged in the one or more purchases.

35. The system of claim 30, wherein the funds account is an account of a vender providing one or more goods or one or more services for the one or more purchases.

36. The system of claim 30, wherein the funds of the funds account are negotiable funds, wherein the non-negotiable credits have restrictions on use that prevent their being directly applied to the one or more purchases.

37. The system of claim 30, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

38. A computer program product comprising:

one or more computer-readable, tangible storage devices;

program instructions, stored on at least one of the one or more storage devices, to determine a quantity of funds required for completion of a sale;

program instructions, stored on at least one of the one or more storage devices, to reduce the quantity of funds required for completion of the sale by a second quantity of funds, wherein the second quantity of funds equals an amount of funds resulting from a conversion of a quantity of non-negotiable credits in accordance with a credits to funds ratio, wherein said non-negotiable credits are earned from previous interactions with an entity; and

program instructions, stored on at least one of the one or more storage devices, to complete the sale based on a purchaser expending the quantity of non-negotiable credits for the sale and expending a quantity of funds at least equal to a difference of the first quantity minus the second quantity of funds, wherein said expended quantity of funds is less than the first quantity of funds, wherein the non-negotiable funds are not honored for the sale in absence of the quantity of non-negotiable credits being converted into the second quantity of funds.

39. The computer program product of claim 38, wherein said first and second quantity of funds are negotiable funds.

40. The computer program product of claim 38, wherein said sale is for an online purchase of goods or services.

41. The computer program product of claim 38, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

42. The computer program product of claim 38, wherein the sale is not completed by the entity.

43. The computer program product of claim 38, wherein the purchaser is an end-user that earned the non-negotiable credits through the previous interactions with the entity.

44. The computer program product of claim 38, further comprising:

program instructions, stored on at least one of the one or more storage devices, to initiate a redemption action that redeems the quantity of non-negotiable credits on behalf of a facilitator of the sale, wherein the redemption action results in the facilitator receiving;

the second quantity of funds;

the second quantity of funds minus a service fee;

the second quantity of funds minus a previously determined percentage for converting the credits to funds;

or

the second quantity of funds minus a service fee and minus a previously determined percentage for converting the credits to funds.

45. A system comprising:

one or more processors;

one or more memories;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to determine a quantity of funds required for completion of a sale;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to reduce the quantity of funds required for completion of the sale by a second quantity of funds, wherein the second quantity of funds equals an amount of funds resulting from a conversion of a quantity of non-negotiable credits in accordance with a credits to funds ratio, wherein said non-negotiable credits are earned from previous interactions with an entity; and

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to complete the sale based on a purchaser expending the quantity of non-negotiable credits for the sale and expending a quantity of funds at least equal to a difference of the first quantity minus the second quantity of funds, wherein said expended quantity of funds is less than the first quantity of funds, wherein the non-negotiable funds are not honored for the sale in absence of the quantity of non-negotiable credits being converted into the second quantity of funds.

46. The system of claim 45, wherein said first and second quantity of funds are negotiable funds.

47. The system of claim 45, wherein said sale is for an online purchase of goods or services.

48. The system of claim 45, wherein the previous interactions with the entity through which the non-negotiable credits are earned are interactions involving a game provided by the entity.

49. The system of claim 45, wherein the sale is not completed by the entity.

50. The system of claim 45, wherein the purchaser is an end-user that earned the non-negotiable credits through the previous interactions with the entity.

51. The system of claim 45, further comprising:

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to initiate a redemption action that redeems the quantity of non-negotiable credits on behalf of a facilitator of the sale, wherein the redemption action results in the facilitator receiving;

the second quantity of funds;

the second quantity of funds minus a service fee;

the second quantity of funds minus a previously determined percentage for converting the credits to funds;

or

the second quantity of funds minus a service fee and minus a previously determined percentage for converting the credits to funds.

52. The system of claim 45, program instructions, stored on at least one of the one or more storage devices, to cause a facilitator of the sale to redeem the non-negotiable credits from the entity for funds.

53. A computer program product comprising:

one or more computer-readable, tangible storage devices;

program instructions, stored on at least one of the one or more storage devices, to access a storage device containing information of a non-negotiable credit account associated with an entity, wherein non-negotiable credits of the non-negotiable credit account earned from previous interactions with the entity, wherein said non-negotiable funds have a restriction on their use;

program instructions, stored on at least one of the one or more storage devices, to determine an availability of a quantity of the non-negotiable credits to be applied to a purchase even though the restriction on use prevents the non-negotiable funds from being directly applied to the purchase;

program instructions, stored on at least one of the one or more storage devices, to access a second storage device containing information of a fund account, wherein funds of the fund account are applied to a cost of goods or services for the purchase, wherein the funds of the funds account do not have the restriction on use;

program instructions, stored on at least one of the one or more storage devices, to subtract the quantity of non-negotiable credits from the non-negotiable credit account, responsive to the purchase; and

program instructions, stored on at least one of the one or more storage devices, to add an amount of funds to the funds account resulting from converting the quantity of non-negotiable credits to funds in accordance with a credits to funds ratio, wherein said adding occurs responsive to the purchase.

54. The computer program product of claim 53, wherein the subtracting and the adding are actions not taken by the entity.

55. The computer program product of claim 53, wherein the purchase is an online shopping purchase.

56. The computer program product of claim 53, wherein the funds are entity independent funds, and wherein the purchase occurs through an online marketplace.

57. A system comprising:

one or more processors;

one or more memories;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to access a storage device containing information of a non-negotiable credit account associated with an entity, wherein non-negotiable credits of the non-negotiable credit account earned from previous interactions with the entity, wherein said non-negotiable funds have a restriction on their use;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to determine an availability of a quantity of the non-negotiable credits to be applied to a purchase even though the restriction on use prevents the non-negotiable funds from being directly applied to the purchase;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to access a second storage device containing information of a fund account, wherein funds of the fund account are applied to a cost of goods or services for the purchase, wherein the funds of the funds account do not have the restriction on use;

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to subtract the quantity of non-negotiable credits from the non-negotiable credit account, responsive to the purchase; and

program instructions, stored on at least one of the one or more memories executable by at least one of the one or more processors, to add an amount of funds to the funds account resulting from converting the quantity of non-negotiable credits to funds in accordance with a credits to funds ratio, wherein said adding occurs responsive to the purchase.

58. The system of claim 57, wherein the subtracting and the adding are actions not taken by the entity.

59. The system of claim 57, wherein the purchase is an online shopping purchase.

60. The system of claim 57, wherein the funds are entity independent funds, and wherein the purchase occurs through an online marketplace.