System and method for processing transactions

• US 8,793,160 B2
• Filed: 09/15/2003
• Issued: 07/29/2014
• Est. Priority Date: 12/07/1999
• Status: Active Grant

• Current Assignee: First USA Management Services, Inc.
• Original Assignee: Payment Technologies, Inc.
• Inventors: Sorem, Steve
• Primary Examiner(s): Dagnew, Saba
• Application Number:
  US10/665,250
• Publication Number:
  US 20040128195A1
• Time in Patent Office: 3,970 Days
• Field of Search: 705/14, 705/27, 705/14.26, 705/68, 283/81
• US Class Current: 705/14.53
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0255 based on user history

Abstract

A remote station for tracking promotion of at least one group of products each of which bears a code that uniquely identifies each product in the group, wherein the remote station may be communicatively coupled to at least one user station is disclosed. The station includes a database resident at the remote station, wherein the database stores ones of the uniquely identifying codes that have been previously received from one or more user stations, and a database server, coupled to the database, that compares each new candidate code received from a given user station against the previously received codes stored in the database. The database server credits an account of a user associated with the given user station with a non-zero promotional credit only if such new candidate code received from the given user station was not previously stored in the database. The database server stores such new candidate code in the database as a previously received code if such new candidate code was not previously stored in the database.

Claims

1. A method, comprising:

establishing, by at least one computer processor, an account, identified with an account holder, comprising a plurality of defined purses, wherein a value chaining logic is definable for both the account and each purse and the value chaining logic comprises a hierarchy for application of value contained in each of the plurality of defined purses to a transaction amount wherein further the hierarchy defines the application of value from one or more of the plurality of defined purses to fulfill a transaction;

receiving, by the at least one computer processor, transaction information comprising a transaction request with an amount, from a merchant, and further comprising a code pertaining to one or more qualifying products which form at least a portion of a transaction initiated by the account holder at a point of sale;

applying, by the at least one computer processor, the value chaining logic to the amount associated with the transaction request, wherein the value chaining logic is applied until the amount is fulfilled with value from the one or more of the plurality of defined purses as specified by the value chaining logic;

performing, by the at least one computer processor, a comparison of the code from the transaction information against previously received codes;

storing, electronically, the code in a database wherein the code becomes a previously received code upon storage;

generating a credit to the account based each new candidate code, wherein the credit comprises a particular type non-zero value, wherein the non-zero value comprises one of electronic cash, micro-payments, loyalty points, or electronic coupons;

storing the credit in one of the plurality of defined purses that is configured to store the particular type of non-zero value of which the credit is comprised; and

notifying, electronically, the account holder of the credit.

2. The method of claim 1, further comprising:

generating a certificate upon a pre-set amount of the non-zero value being accumulated in the account.

3. The method of claim 2, wherein the certificate is usable as a coupon, rebate, gift certificate, or refund.

4. The method of claim 2, further comprising:

receiving a redemption of the certificate.

5. The method of claim 1, further comprising:

receiving, from the account holder, a request to convert a portion of the non-zero value in the account from a first form to a second form.

6. The method of claim 1, further comprising:

receiving, from the account holder, a request to transfer a portion of the non-zero value in one of the plurality of defined purses to a second purse of the plurality of defined purses.

7. The method of claim 1, further comprising:

receiving, from an account holder, a request to transfer a portion of the non-zero value from the account to a second account associated that is identified with a different account holder.

13. The method of claim 1, further comprising:

pre-filtering the value chaining logic, prior to receiving the transaction information, based on input from the merchant based on the initiating of the transaction at the point of sale, wherein the pre-filtering comprises elimination of payment forms which are unacceptable to the merchant.

8. A method, comprising:

defining, at the request of an account holder, value chaining logic pertaining a plurality of defined purses, the plurality of defined purses comprising an account, wherein the value chaining logic comprises a hierarchy of use of credit, comprising a non-zero value, stored in each of the plurality of defined purses, such that the hierarchy defines the application of the credit from one or more of the plurality of defined purses to fulfill the specific transaction request and wherein further the logic is structured to use a free value type before a funded value type for application against an amount associated with a specific transaction request;

accumulating the credit in each of the plurality of defined purses, wherein the credit is accumulated, at least in part, through purchases of one or more qualifying products or services and the credit comprises one of electronic cash, micro-payments, loyalty points, or electronic coupons and is each type of credit is accumulated in one of the plurality of defined purses that is configured to store a particular type credit;

processing, by at least one computer processor, a transaction request, comprising a transaction amount, from a merchant, wherein the transaction request is initiated by the account holder;

filtering, by the at one computer processor, the plurality of defined purses to remove purses with value types not accepted by the merchant based on input from the merchant;

ordering, by the at least one computer processor, the plurality of defined purses based on the value chaining logic;

defining a set of filtered and ordered purses based upon the preceding filtering and ordering steps to use to fulfill the transaction amount; and

applying, by the at least one computer processor, the value chaining logic to the transaction amount by applying, from the set of filtered and ordered purses, the credit from each purse, in the order as specified by the value chaining logic, until the transaction amount is fulfilled.

9. The method of claim 8, wherein the free value type comprises coupons, rewards, and discounts and the funded value types comprise credit or cash.

10. The method of claim 8, further comprising:

receiving, from the account holder, a request to transfer a portion of the credit in one of the plurality of defined purses to a second purse of the plurality of defined purses.

11. The method of claim 8, further comprising:

receiving, from the account holder, a request to convert a portion of the credit in the account from a first form to a second form.

12. The method of claim 8, further comprising:

receiving, from an account holder, a request to transfer a portion of the credit from the account to a second account associated that is identified with a different account holder.

14. The method of claim 8, further comprising:

wherein the filtering is performed prior to the processing of the transaction request.