System and method for funding a collective account by use of an electronic tag

• US 20050040221A1
• Filed: 09/09/2004
• Published: 02/24/2005
• Est. Priority Date: 08/13/2001
• Status: Active Grant

• Current Assignee: Bank One Delaware National Association (JP Morgan Chase & Co)
• Original Assignee: First USA Bank N.A. (JP Morgan Chase & Co)
• Inventors: Schwarz, Charles E. Jr.
• Granted Patent: US 7,051,925 B2
• Time in Patent Office: Days
• US Class Current: 235/375
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 30/00 Commerce
• 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 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/0279 Fundraising management
• CPC Class Codes: G07B 15/063 using wireless information transmission between the vehicle and a fixed station identification of vehicles G08G

Abstract

A system and method for funding a collective account via aggregating usage of electronic tags is disclosed. The system and method promotes the use of electronic tags, and the funding of collective accounts that may be associated with charitable or other philanthropic causes. Further benefits may be realized by replenishing the prefunded account that serves as the source of funds for the electronic tag to an affinity account that also benefits the charitable or other philanthropic cause.

Claims

1. A method for attributing a reward to a collective account, comprising:

associating a plurality of tags with at least one collective account;

aggregating tag usage for at least one tag associated with at least one collective account;

calculating a reward based on the aggregate tag usage; and

attributing the reward to at least one collective account.

2. The method of claim 1, wherein at least one tag is held by at least one tagholder who is a member of at least one organization, and wherein the at least one organization is the holder of at least one collective account.

3. The method of claim 1, wherein at least one collective account comprises a charitable account.

4. The method of claim 1, further comprising distributing the reward from at least one collective account to at least one other account.

5. The method of claim 1, wherein the aggregating and calculating steps are performed electronically in real time.

6. The method of claim 1, wherein the aggregating and calculating steps are performed on a periodic basis.

7. The method of claim 2, further comprising issuing a statement to each tagholder reporting the reward amount attributed to at least one collective account.

8. The method of claim 1, wherein calculating a reward based on aggregate tag usage further comprises:

calculating historical performance of the aggregate tag usage for at least one tag associated with at least one collective account;

calculating the aggregate tag usage for at least one tag associated with at least one collective account for a first periodic basis; and

calculating the reward based on a comparison of the historical performance of the aggregate tag usage for the at least one tag associated with at least one collective account to the aggregate tag usage for the at least one tag associated with at least one collective account for the first periodic basis.

9. The method of claim 1, wherein at least one of the tags comprises an LED controllable via a tagholder.

10. The method of claim 1, wherein at least one of the tags comprises an LCD controllable via a tagholder.

11. The method of claim 1, wherein at least one of the tags comprises at least one communication port allowing the at least one of the tags to communicate with other devices.

12. The method of claim 1, wherein at least one of the tags comprises a microprocessor.

13. The method of claim 1, wherein at least one of the tags comprises a transmitter.

14. The method of claim 1, wherein the plurality of tags further comprise at least one of a smart card, a bar coded sticker, a transponder readable by a reader/antenna, or combinations thereof.

15. The method of claim 14, wherein at least one of the tags operates in half duplex mode.

16. The method of claim 14, wherein at least one of the tags operates in full duplex mode.

17. The method of claim 2, wherein at least one of the tags comprises a sound generating device.

18. The method of claim 17, wherein the sound generating device generates a programmed sound generally associated with at least one organization.

19. The method of claim 2, wherein at least one organization is at least one of a business organization, a trade organization, a political party, a religious organization, an athletic organization, a professional society, an educational organization, a charitable organization, a fund-raising organization, and a governmental organization, or combinations thereof.

20. The method of claim 2, wherein at least one tag is decorated with a symbol, name, and/or colors generally associated with at least one organization.

21. A method for making charitable contributions, comprising:

associating a plurality of tags with at least one collective account, wherein a charitable organization is the holder of at least one collective account;

aggregating tag usage for at least one of the tags associated with at least one collective account;

calculating a reward based on the aggregate tag usage;

attributing the reward to at least one collective account; and

distributing the reward to the charitable organization.

22. The method of claim 21, wherein the aggregating and calculating steps are performed electronically in real time.

23. The method of claim 21, further comprising:

associating each tag with at least one prefunded account;

maintaining at least one of the prefunded accounts; and

debiting at least one of the prefunded accounts in an amount related to the value of purchases made using the associated tag.

24. The method of claim 23, further comprising associating each prefunded account with at least one individual account, wherein the account balance of the prefunded account is replenished from funds in the individual account upon fulfillment of some predetermined condition.

25. The method of claim 24, wherein at least one individual account is associated with at least one loyalty program.

26. A method for making charitable contributions comprising:

associating a plurality of tags with at least one collective account;

aggregating tag usage for at least one of the tags associated with at least one collective account;

calculating a reward based on the aggregate tag usage of at least one tag associated with at least one collective account on a first periodic basis; and

attributing the reward to at least one charitable organization on a second periodic basis.

27. An automated, computer-based method for making charitable contributions comprising:

maintaining at least one prefunded account that is associated with at least one tag;

associating at least one prefunded account with at least one collective account;

aggregating tag usage for at least one tag associated with at least one prefunded account, wherein the at least one prefunded account is associated with at least one collective account;

calculating a reward based on the aggregate tag usage; and

attributing the reward to the at least one organization, wherein the organization is the holder of the at least one collective account.

28. A system for managing tags used for funding a collective account comprising:

first associating means for associating a tag with at least one prefunded account;

second associating means for associating the tag with at least one collective account;

calculating means for calculating a reward based on the aggregate tag usage of at least one tag associated with at least one collective account; and

distribution means for attributing the reward to at least one collective account.

29. A computer-based system for funding a collective account comprising:

a plurality of tags;

associating means for associating each tag to each of at least one prefunded account and at least one collective account;

aggregating means for aggregating tag usage for at least one tag associated with at least one collective account;

calculating means for calculating a reward based on aggregate tag usage;

funding means for funding the at least one collective account with the calculated reward; and

processing means for processing the content of the collective account.

30. A method for attributing a reward to a collective account comprising:

maintaining prefunded accounts, wherein each prefunded account is associated with at least one of a plurality of tagholders;

associating at least one of the prefunded accounts with at least one collective account;

aggregating the balances of at least one prefunded account associated with at least one collective account;

calculating a reward based on the aggregate prefunded account balance; and

attributing the reward to the at least one collective account.

31. The method in claim 30, wherein calculating a reward based on the aggregate prefunded account balance further comprises:

calculating historical performance of the aggregate prefunded account balance of at least one of the prefunded accounts associated with at least one collective account;

calculating the aggregate prefunded account balance for at least one prefunded account associated with at least one collective account for a first periodic basis; and

calculating a reward based on a comparison of the historical performance of the aggregate prefunded account balance for at least one prefunded account associated with at least one collective account to the aggregate of at least one prefunded account balance for at least one prefunded account associated with at least one collective account for the first periodic basis.

32. A method for making charitable contributions, comprising:

maintaining prefunded accounts for at least one of a plurality of tagholders, wherein at least one tagholder is a member of at least one charitable organization;

associating at least one of the prefunded accounts with at least one collective account;

aggregating the balance of at least one prefunded account associated with at least one collective account;

calculating a reward based on the aggregate prefunded account balances;

attributing the reward to the at least one collective account; and

distributing the reward to the charitable organization.

33. A method for making charitable contributions comprising:

maintaining prefunded accounts, wherein each prefunded account is associated with at least one of a plurality of tagholders;

associating at least one prefunded account with at least one collective account;

aggregating the prefunded account balances for at least one prefunded account associated with at least one collective account;

calculating a reward based on the aggregate prefunded account balances; and

attributing the reward to at least one charitable organization, wherein the charitable organization is the holder of at least one collective account.

34. A system for managing tags used for funding a collective account, comprising:

first associating means for associating a tag with at least one prefunded account;

second associating means for associating the tag with at least one collective account;

aggregating means for aggregating the balance of at least one of the prefunded accounts associated with at least one collective account;

calculating means for calculating a reward based on the aggregate of the prefunded account balance; and

attributing means for attributing the reward to the at least one collective account.

35. A computer-based system for funding a collective account comprising:

a plurality of tags;

first associating means for associating each tag with a prefunded account;

second associating means for associating each tag with at least one collective account;

aggregating means for aggregating prefunded account balances for at least some of the prefunded accounts associated with at least one collective account;

calculating means for calculating a reward based on the aggregate prefunded account balances;

funding means for funding the at least one collective account with the calculated reward; and

processing means for processing the content of at least one collective account.