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System and method for combining disparate commercial transactions under a single identification mechanism

  • US 8,939,357 B1
  • Filed: 05/04/2012
  • Issued: 01/27/2015
  • Est. Priority Date: 12/03/2010
  • Status: Active Grant
First Claim
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1. A financial transaction processing system comprising:

  • means for processing a financial transaction for a consumer, said financial transaction being processed based upon identification information received from a financial card associated with said consumer, wherein processing said financial transaction charges a financial account, wherein said financial card includes a magnetic stripe, and wherein said identification information is stored within said magnetic stripe; and

    means for processing a first secondary transaction for said consumer concurrently with said processing of said financial transaction, said first secondary transaction initiated based on loyalty reward program information received from said financial card, wherein said loyalty reward program information is stored within said magnetic stripe, and wherein said first secondary transaction is associated with said at least one loyalty based program that is independent from said financial account, and wherein said loyalty based program information stored within said magnetic stripe identifies a plurality of loyalty based programs;

    means for retrieving, from a database based on said loyalty based program information, discount information associated with a plurality of discounts available to said consumer, each of said plurality of discounts corresponding to one of said plurality of loyalty based programs;

    means for communicating said plurality of discounts to said consumer at a POS; and

    means for receiving an input indicating a selection of one or more discounts of said plurality of discounts, wherein an amount charged to said financial account depends upon said selection of said one or more discounts indicated by said input.

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