Chasing rewards associated with accounts

• US 8,606,631 B2
• Filed: 05/01/2007
• Issued: 12/10/2013
• Est. Priority Date: 04/23/1999
• Status: Expired due to Fees

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Blagg, Lynn Holm
• Primary Examiner(s): Bekerman, Michael
• Application Number:
  US11/743,100
• Publication Number:
  US 20070203795A1
• Time in Patent Office: 2,415 Days
• Field of Search: 705/14.17, 705/14.33
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The present invention is directed to a method for linking accounts corresponding to different products together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. The method links the accounts into a group by linking a financial record for each account to group master data for the group. The group master data includes information about the group, including group control settings, aggregate data, and a group identifier. A group typically includes a key account and one or more dependent accounts. The relationship between a dependent account and the group is specified by a dependent strategy. A dependent strategy specifies group level processing options for the account. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Alternative embodiments will be apparent to those skilled in the art to which the present invention pertains without departing from its spirit and scope. Accordingly, the scope of the present invention is described by the appended claims and is supported by the foregoing description.

Claims

1. A method for redeeming rewards, the method comprising:

maintaining a first financial account, wherein the first financial account is associated with a first party and a first reward, wherein the first financial account is further associated with a first account number and a first presentation instrument having the first account number, and wherein the reward is at least partially accrued based on purchases made at multiple different merchants using the first account number that is associated with the first presentation instrument;

receiving at a computer a redemption request, wherein the redemption request is initiated by a second party who has a second account associated with a second account number, a second presentation instrument having the second account number and a second reward that was accrued at least partially based on purchases made at multiple different merchants using the second account number associated with the second presentation instrument;

in response to the redemption request, determining by the computer that the redemption request exceeds the second reward and then identifying by the computer the first account and a relationship between the first account and the second party;

displaying at least the first account to permit an operator to select how the first and second rewards are to be applied from the first and second accounts;

receiving a selection of the first account; and

satisfying the redemption request, wherein the redemption request is satisfied from at least a portion of the first reward in the first account and the second reward in the second account.

2. A method as in claim 1, further comprising receiving from the operator an indication of the accrued awards are to be withdrawn from the first and second accounts.

3. A computer system for processing the redemption of rewards, the system comprising:

at least one processor;

at least one memory storage device for storing data sets to be processed by the processor;

wherein the computer system is configured to;

maintain a first financial account, wherein the first financial account is associated with a first party and a first reward, wherein the first financial account is further associated with a first account number and a first presentation instrument having the first account number, and wherein the reward is at least partially accrued based on purchases made at multiple different merchants using the first account number that is associated with the first presentation instrument;

receive a redemption request, wherein the redemption request is initiated by a second party who has a second account associated with a second account number, a second presentation instrument having the second account number and a second reward that was accrued at least partially based on purchases made at multiple different merchants using the second account number associated with the second presentation instrument;

in response to the redemption request, determine that the redemption request exceeds the second reward and then identify the first account and a relationship between the first account and the second party;

produce a data file that is configured to render a display of at least the first account to permit an operator to select how the first and second rewards are to be applied from the first and second accounts;

receive a selection of the first account; and

produce instructions to satisfy the redemption request, wherein the redemption request is satisfied from at least a portion of the first reward in the first account and the second reward in the second account.

4. A system as in claim 3, wherein the computer system is further configured to receive from the operator an indication of the accrued awards are to be withdrawn from the first and second accounts.