Online reward point exchange method and system
First Claim
1. A method for operating an online reward exchange system comprising:
- an exchange computer receiving user registration from a user computer operated by a user, the user registration comprising reward account information for at least one reward program in which the user is previously enrolled, said reward program operated by an issuer via an issuer computer and providing reward points to the reward account stored in association with the issuer computer as a result of a transaction previously executed between the user and the issuer;
the exchange computer receiving a merchant registration from a merchant computer operated by a merchant, the merchant registration comprising (i) product information that identifies at least one product to be offered for sale to the user via the exchange computer, and (ii) a designation of at least one of a plurality of issuers registered with the exchange computer with which the merchant agrees to execute a reward redemption transaction when requested by the user computer;
the exchange computer receiving an issuer registration from the issuer computer operated by the issuer, the issuer registration comprising a designation of at least one of a plurality of merchants registered with the exchange computer with which the issuer agrees to execute a reward redemption transaction when requested by the user; and
the exchange computer executing a reward redemption transaction for a product selected by the user for purchase from a merchant selected by the user from the plurality of merchants, by redeeming reward points from a reward account held by an issuer selected by the user from the plurality of issuers, only ifthe merchant selected by the user has previously agreed to execute a reward redemption transaction with the issuer selected by the user, andthe issuer selected by the user has previously agreed to execute a reward redemption transaction with the merchant selected by the user.
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Accused Products
Abstract
An online reward exchange system and method of operation, which includes an exchange computer that interoperates via a computer network with user computers, reward point issuer computers, and merchant computers. The merchants'"'"' products may be purchased by a user by requesting via a user computer, merchant'"'"'s point of sale device, or mobile device an issuer(s) to redeem reward points in exchange for payment to the merchant for the product. The exchange computer is the gateway to the system and manages various transactions such as providing online product catalogs to users that list the merchants products, as well as displaying to the user the reward points he has available in his reward programs with the issuers. Once a user selects a desired product the exchange computer can mediate or manage the purchase transaction in which reward points are redeemed by the selected issuer and consideration is conveyed to the merchant in exchange for the merchant providing the product to the user.
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Citations
10 Claims
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1. A method for operating an online reward exchange system comprising:
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an exchange computer receiving user registration from a user computer operated by a user, the user registration comprising reward account information for at least one reward program in which the user is previously enrolled, said reward program operated by an issuer via an issuer computer and providing reward points to the reward account stored in association with the issuer computer as a result of a transaction previously executed between the user and the issuer; the exchange computer receiving a merchant registration from a merchant computer operated by a merchant, the merchant registration comprising (i) product information that identifies at least one product to be offered for sale to the user via the exchange computer, and (ii) a designation of at least one of a plurality of issuers registered with the exchange computer with which the merchant agrees to execute a reward redemption transaction when requested by the user computer; the exchange computer receiving an issuer registration from the issuer computer operated by the issuer, the issuer registration comprising a designation of at least one of a plurality of merchants registered with the exchange computer with which the issuer agrees to execute a reward redemption transaction when requested by the user; and the exchange computer executing a reward redemption transaction for a product selected by the user for purchase from a merchant selected by the user from the plurality of merchants, by redeeming reward points from a reward account held by an issuer selected by the user from the plurality of issuers, only if the merchant selected by the user has previously agreed to execute a reward redemption transaction with the issuer selected by the user, and the issuer selected by the user has previously agreed to execute a reward redemption transaction with the merchant selected by the user. - View Dependent Claims (2, 3, 4, 5, 6)
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7. An online reward exchange system comprising an exchange computer programmed to
receive a user registration from a user computer operated by a user, the user registration comprising reward account information for at least one reward program in which the user is previously enrolled, said reward program operated by an issuer via an issuer computer and providing reward points to the reward account stored in association with the issuer computer as a result of a transaction previously executed between the user and the issuer; -
receive a merchant registration from a merchant computer operated by a merchant, the merchant registration comprising (i) product information that identifies at least one product to be offered for sale to the user via the exchange computer, and (ii) a designation of at least one of a plurality of issuers registered with the exchange computer with which the merchant agrees to execute a reward redemption transaction when requested by the user; receive an issuer registration from the issuer computer operated by the issuer, the issuer registration comprising a designation of at least one of a plurality of merchants registered with the exchange computer with which the issuer agrees to execute a reward redemption transaction when requested by the user; and execute a reward redemption transaction for a product selected by the user for purchase from a merchant selected by the user from the plurality of merchants, by redeeming reward points from a reward account held by an issuer selected by the user from the plurality of issuers, only if the merchant selected by the has previously agreed to execute a reward redemption transaction with the issuer selected by the user, and the issuer selected by the user has previously agreed to execute a reward redemption transaction with the merchant selected the user. - View Dependent Claims (8, 9, 10)
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Specification