Methods and systems for providing a merchant funded incentive rebate or awards program

• US 8,589,226 B1
• Filed: 04/02/2012
• Issued: 11/19/2013
• Est. Priority Date: 06/02/2000
• Status: Expired due to Term

• Current Assignee: TuitionFund LLC
• Original Assignee: TuitionFund LLC
• Inventors: Thompson, Michael P.
• Primary Examiner(s): Myhre, James W
• Application Number:
  US13/437,394
• Time in Patent Office: 596 Days
• Field of Search: 705/14.34
• US Class Current: 705/14.34
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The invention involves facilitating retail transactions between participating enrolled members and participating merchants funding awards to said members. Incentive offers may be advertised to members, including targeted offers to specific members. Account purchase transaction information of participating merchants is a) tracked by processor(s) belonging to a tracking entity, b) monitored by processor(s) and correlated with stored enrolled member information, and c) processor(s) determine whether a purchase transaction is between an enrolled member and participating merchant and if such transaction entitles the member to a merchant funded award; with such processor(s) being located other than at the participating merchant'"'"'s location. The remote monitoring and determining gives the program transparency; no special purpose cards/accounts need to be presented by the member and no additional checkout procedures need to be performed by participating merchants. The awards can be applied as a credit or offset to various accounts, financial instruments or obligations.

Claims

1. A method of providing a merchant funded incentive rebate or awards program, the method comprising:

enrolling at least one participating member account with enrolled member information being stored in memory, the enrolled account capable of being used to make both internet based purchases with participating online merchants and point-of-sale purchases at a participating merchant'"'"'s place of business;

having at least one participating merchant in the program funding merchant incentive rebates or awards for qualifying purchases by a participating member using a member'"'"'s enrolled account;

receiving account purchase transaction information from at least one processor belonging to a tracking entity, the at least one processor being located at a location or locations other than the location of a participating merchant, and said at least one processor tracking account purchases to provide account purchase transaction information, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program;

monitoring all of said account purchase transaction information being provided by the at least one processor belonging to a tracking entity, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program, and correlating said account purchase transaction information with stored enrolled member identifying information using at least one processor that is located at a location or locations other than the location of a participating merchant;

determining, via at least one processor that is located at a location or locations other than the location of a participating merchant, whether or not a purchase transaction is with a particular participating merchant using an enrolled member account, and whether said purchase transaction is a qualifying purchase entitling the participating member to a participating merchant funded incentive rebate or award; and

calculating, using at least one processor located at a location or locations other than the location of a participating merchant, an incentive rebate or award due an enrolled member for a qualifying purchase with a participating merchant, based upon an established formula or participating merchant sales incentive.

2. The method of claim 1, wherein the incentive rebate or award amount due an enrolled member may be applied as a credit to at least one account, an offset to at least one account, or as a credit or an offset to at least one instrument accepted as a means of payment.

3. The method of claim 2, wherein the account is selected from a group, including mutual funds, savings accounts, bond funds, stock index funds, money market accounts, annuities, any other investment grade securities or equities allowed by law, a charitable donation account, or a loan payment account.

4. The method of claim 2, further comprising:

generating information for applying at least a portion of the incentive rebate or award amount in a participating member'"'"'s associated account towards indebtedness owed to banks or other financial institutions, commercial loan companies, state or federal government lending agencies, or private organizations.

5. The method of claim 1, wherein a participating merchant funds varying rebate or award rates to incentivize certain sales.

6. The method of claim 1, wherein the participating member'"'"'s enrolled account is either a credit card related account, a debit card related account, or a checking account related account.

7. The method of claim 1, wherein a participating member'"'"'s enrolled account and the account in which a participating member'"'"'s incentive rebate or award amount is applied as a credit or offset to is the same account.

8. The method of claim 1, wherein a sponsoring organization may receive a portion of the qualifying sales, or the incentive rebates or awards, as compensation.

10. The method of claim 1 or 9, wherein said at least one processor that belongs to a tracking entity and tracks account purchases to provide account purchase transaction information is located at a banking facility or other facility which processes the applicable qualifying card account(s) or other qualifying account(s) transactions.

11. The method of claim 1 or 9, further comprising:

utilizing a participating member'"'"'s account purchase transaction information, a participating member'"'"'s spending habits or participating member'"'"'s profile obtained in connection with the program to assist a current or prospective participating merchant in designing an incentive rebate or award offer to at least one participating member.

12. The method of claim 1 or 9, further comprising:

advertising or promoting a specific incentive rebate or award offer from a funding merchant to at least one participating member.

13. The method of claim 12, wherein the advertising or promotion of a specific incentive rebate or award offer is disseminated to at least one participating member using push technology.

14. The method of claim 12, wherein the advertising or promotion of a specific incentive or award offer is requested by at least one participating member using pull technology.

15. The method of claim 1 or 9, further comprising:

marketing information relating to enrolled members, participating merchants, or their purchase or sale activity to at least one organization, not already registered or affiliated with the program.

16. The method of claim 1 or 9, wherein said at least one processor belonging to a tracking entity that provides account transaction information is located at a different location than the at least one processor that monitors said account purchase transaction information and correlates said account purchase transaction information with stored enrolled member identifying information.

17. The method of claim 1 or 9, wherein a managing organization of the incentive rebate or awards program may receive a portion of the qualifying sales, or the incentive rebates or awards, as compensation.

18. The method of claim 1 or 9, wherein the incentive rebate or award rates or amounts are merchant-specific.

19. The method of claim 1 or 9, wherein the established formula includes different incentive rebate or award rates for internet based on-line purchases versus point of sale purchases.

20. The method of claim 1 or 9, wherein said at least one processor belonging to a tracking entity that provides account purchase transaction information is located at a different location than the at least one processor determining whether said purchase transaction is a qualifying purchase entitling the participating member to a participating merchant funded incentive rebate or award.

21. The method of claim 1 or 9, wherein a tracking entity may provide additional transaction information to either a managing organization or a sponsoring organization of the incentive rebate or awards program.

9. A method of generating incentive rebate or awards information for a merchant funded incentive rebate or awards program, the program including participating members, at least one enrolled account for a participating member with enrolled member information being stored in memory, the enrolled account capable of being used to make both internet based purchases with participating online merchants and point-of-sale purchases at a participating merchant'"'"'s place of business, and at least one participating merchant in the program funding incentive rebates or awards for qualifying purchases by a participating member using a member'"'"'s enrolled account, the method comprising:

receiving account purchase transaction information from at least one processor belonging to a tracking entity, the at least one processor being located at a location or locations other than the location of a participating merchant, and said at least one processor tracking account purchases to provide account purchase transaction information, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program;

monitoring all of said account purchase transaction information being provided by the at least one processor belonging to a tracking entity, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program, and correlating said account purchase transaction information with stored enrolled member identifying information using at least one processor that is located at a location or locations other than the location of a participating merchant;

determining, via at least one processor that is located at a location or locations other than the location of a participating merchant, whether or not a purchase transaction is with a particular participating merchant using an enrolled member account, and whether said purchase transaction is a qualifying purchase entitling the participating member to a participating merchant funded incentive rebate or award; and

calculating, using at least one processor located at a location or locations other than the location of a participating merchant, an incentive rebate or award due an enrolled member for a qualifying purchase with a participating merchant, based upon an established formula or participating merchant sales incentive.

22. The method of claim 9, wherein a participating member'"'"'s incentive rebate or award is applied as a credit or an offset to at least one account, or as credit or an offset to at least one instrument accepted as a means of payment.

23. A system for providing a merchant funded incentive rebate or awards program, the program including participating members, at least one enrolled account for a participating member with enrolled member information being stored in memory, the enrolled account capable of being used to make both internet based purchases with participating online merchants and point-of-sale purchases at a participating merchant'"'"'s place of business, and at least one participating merchant in the program funding merchant incentive rebates or awards for qualifying purchases by a participating member using a participating member'"'"'s enrolled account, the system comprising:

receiving account purchase transaction information from at least one processor belonging to a tracking entity, with the at least one processor being located at a location or locations other than the location of a participating merchant in the program, and said at least one processor tracking account purchases to provide account purchase transaction information, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program;

monitoring all of said account purchase transaction information being provided by the at least one processor belonging to a tracking entity, said account purchase transaction information including account purchase transaction information of at least one participating merchant in the program, and correlating said account purchase transaction information with stored enrolled member identifying information using at least one processor located at a location or locations other than the location of a participating merchant;

determining, via at least one processor located at a location or locations other than the location of a participating merchant, whether or not a purchase transaction is with a particular participating merchant using an enrolled member account, and whether said purchase transaction is a qualifying purchase entitling the participating member to a merchant funded incentive rebate or award; and

calculating, using at least one processor located at a location or locations other than the location of a participating merchant, an incentive rebate or award due an enrolled member for a qualifying purchase with a participating merchant, based upon an established formula or participating merchant sales incentive.

24. The system of claim 23, further comprising at least one processor configured to generate information needed to apply a member'"'"'s incentive rebate or award as a credit or an offset to at least one account, or as a credit or an offset to at least one instrument accepted as a means of payment.

25. The system of claim 23, wherein a tracking entity may provide additional transaction information to either a managing organization or a sponsoring organization of the incentive rebate or awards program.

26. The system of claim 23, wherein said at least one processor belonging to a tracking entity that provides account purchase transaction information is located at a location different than the at least one processor that monitors said account purchase transaction information and correlates said account purchase transaction information with stored enrolled member identifying information.

27. The system of claim 23, wherein said at least one processor belonging to a tracking entity that provides account purchase transaction information is located at a different location than the at least one processor that determines whether said purchase transaction is a qualifying purchase entitling the participating member to a participating merchant funded incentive rebate or award.

28. The system of claim 23, wherein the established formula includes different incentive rebate or award rates for internet based on-line purchases versus point of sale purchases.