POINT OF SALE DEVICE FOR ONLINE REWARD POINT EXCHANGE METHOD AND SYSTEM

• US 20100274655A1
• Filed: 02/10/2010
• Published: 10/28/2010
• Est. Priority Date: 01/14/2009
• Status: Active Grant

• Current Assignee: Signature Systems LLC
• Original Assignee: Signature Systems LLC
• Inventors: Postrel, Richard David
• Granted Patent: US 8,615,428 B2
• Time in Patent Office: Days
• US Class Current: 705/14.270
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: Y02P 90/02 Total factory control, e.g. smart factories, flexible manufacturing systems [FMS] or integrated manufacturing systems [IMS]

Abstract

An online reward exchange system and method of operation, which includes an exchange computer that interoperates via a computer network with user computers, reward point issuer computers, and merchant computers. The merchants'"'"' products may be purchased by a user by requesting via a user computer, merchant'"'"'s point of sale device, or mobile device an issuer(s) to redeem reward points in exchange for payment to the merchant for the product. The exchange computer is the gateway to the system and manages various transactions such as providing online product catalogs to users that list the merchants products, as well as displaying to the user the reward points he has available in his reward programs with the issuers. Once a user selects a desired product the exchange computer can mediate or manage the purchase transaction in which reward points are redeemed by the selected issuer and consideration is conveyed to the merchant in exchange for the merchant providing the product to the user.

Claims

1. A method for executing a purchase transaction for an item comprising a point of sale device performing the steps of:

a) inputting price information associated with an item to be purchased by a user;

b) inputting a user ID associated the user;

c) transmitting the user ID to an exchange computer via a computer network;

d) receiving from the exchange computer a promotional wallet associated with the user ID, said promotional wallet indicating a redeemable value of reward points stored in at least one reward point account associated with the user and at least one issuer computer;

e) displaying the promotional wallet to the user;

f) inputting a redemption selection as a function of the promotional wallet, said redemption selection indicating a selection of reward points to be redeemed from at least one reward point account associated with the user and at least one issuer computer;

g) causing a purchase transaction to be executed for the item selected by the user by using the inputted redemption selection.

2. The method of claim 1 in which the point of sale device causes the purchase transaction to be executed by the steps of:

A. the point of sale device transmitting an instruction to the exchange computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to the exchange computer corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. the point of sale device receiving confirmation from the exchange computer that the issuer computer has redeemed the reward points selected by the user.

3. The method of claim 1 in which the point of sale device causes the purchase transaction to be executed by the steps of:

A. the point of sale device transmitting an instruction to the at least one issuer computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to a merchant computer associated with the point of sale device corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. the point of sale device receiving confirmation from the merchant computer that the issuer has redeemed the reward points selected by the user.

4. The method of claim 1 wherein the promotional wallet indicates a total redeemable value of reward points stored in a plurality of reward point accounts associated with the user, each of said plurality of said reward point accounts also associated with one of a plurality of issuer computers.

5. The method of claim 4 wherein the redemption selection input to the point of sale device indicates a combination of a first selection of reward points to be redeemed from a first reward point account and a second selection of reward points to be redeemed from a second reward point account.

6. The method of claim 1 wherein the step of inputting price information associated with said item comprises reading a machine-readable indicia associated with the item.

7. The method of claim 6 wherein the price information is embedded in and is obtained directly from the machine-readable indicia.

8. The method of claim 6 wherein the machine-readable indicia comprises an index that is used by the point of sale device to lookup the price information from an associated product database.

9. The method of claim 6 wherein the step of reading a machine-readable indicia associated with the item is performed by scanning a bar code symbol with a bar scanning device associated with the point of sale device.

10. The method of claim 6 wherein the step of reading a machine-readable indicia associated with the item is performed by reading an RFID tag with an RFID reader device associated with the point of sale device.

11. The method of claim 1 wherein the step of inputting price information associated with said item comprises entering said price information with a manual data entry device associated with the point of sale device.

12. The method of claim 1 wherein the step of inputting a user ID associated the user comprises reading an encoded token presented by the user.

13. The method of claim 12 wherein the step of reading an encoded token presented by the user comprises reading the user ID from an encoded magnetic stripe on the token.

14. The method of claim 12 wherein the step of reading an encoded token presented by the user comprises reading the user ID from an memory chip on the token.

15. The method of claim 12 wherein the token is a credit card.

16. The method of claim 12 wherein the token is a debit card.

17. The method of claim 12 wherein the token is a reward loyalty card.

18. The method of claim 12 wherein the token is a smart card.

19. A point of sale device comprising:

A) at least one input device for inputting information from a user;

B) a display;

C) a data connection to a computer network; and

D) a processor programmed to

a) receive via the at least one input device price information associated with an item to be purchased by a user;

b) receive via the at least one input device item a user ID associated the user;

c) transmit the user ID to an exchange computer via the data connection;

d) receive from the exchange computer via the data connection a promotional wallet associated with the user ID, said promotional wallet indicating a redeemable value of reward points stored in at least one reward point account associated with the user and at least one issuer computer;

e) display the promotional wallet to the user;

f) receive via the at least one input device a redemption selection as a function of the promotional wallet, said redemption selection indicating a selection of reward points to be redeemed from at least one reward point account associated with the user and at least one issuer computer; and

g) cause a purchase transaction to be executed for the item selected by the user by using the inputted redemption selection.

20. The point of sale device of claim 19 in which the processor is programmed to cause the purchase transaction to be executed by:

A. transmitting an instruction via the data connection to the exchange computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to the exchange computer corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. receiving confirmation via the data exchange from the exchange computer that the issuer computer has redeemed the reward points selected by the user.

21. The point of sale device of claim 19 in which the processor is programmed to cause the purchase transaction to be executed by the steps of:

A. transmitting an instruction via the data connection to the at least one issuer computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to a merchant computer associated with the point of sale device corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. receiving confirmation via the data exchange from the merchant computer that the issuer has redeemed the reward points selected by the user.

22. The point of sale device of claim 19 wherein the promotional wallet indicates a total redeemable value of reward points stored in a plurality of reward point accounts associated with the user, each of said plurality of said reward point accounts also associated with one of a plurality of issuer computers.

23. The point of sale device of claim 19 wherein the redemption selection input to the point of sale device indicates a combination of a first selection of reward points to be redeemed from a first reward point account and a second selection of reward points to be redeemed from a second reward point account.

24. The point of sale device of claim 19 wherein the at least one input device comprises a bar code reading device.

25. The point of sale device of claim 19 wherein the at least one input device comprises an RFID reader device.

26. The point of sale device of claim 19 wherein the at least one input device comprises a manual data entry device.

27. The point of sale device of claim 19 wherein the at least one input device comprises a magnetic stripe reader.

28. The point of sale device of claim 19 wherein the at least one input device comprises a smart card reader.

29. A reward exchange system comprising:

a) an exchange computer;

b) a merchant computer associated with a merchant and selectively interconnected to the exchange computer via a computer network;

c) an issuer computer associated with a reward points issuer and selectively interconnected to the exchange computer via a computer network; and

d) a point of sale device operably associated with the merchant computer, said point of sale device comprising;

A) at least one input device for inputting information from a user;

B) a display;

C) a data connection to the computer network; and

D) a processor programmed to

a) receive via the at least one input device price information associated with an item to be purchased by a user;

b) receive via the at least one input device item a user ID associated the user;

c) transmit the user ID to the exchange computer via the data connection;

d) receive from the exchange computer via the data connection a promotional wallet associated with the user ID, said promotional wallet indicating a redeemable value of reward points stored in at least one reward point account associated with the user and at least one issuer computer;

e) display the promotional wallet to the user;

f) receive via the at least one input device a redemption selection as a function of the promotional wallet, said redemption selection indicating a selection of reward points to be redeemed from at least one reward point account associated with the user and at least one issuer computer; and

g) cause a purchase transaction to be executed for the item selected by the user by using the inputted redemption selection.

30. The reward exchange system of claim 29 in which the processor is programmed to cause the purchase transaction to be executed by:

A. transmitting an instruction via the data connection to the exchange computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to the exchange computer corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. receiving confirmation via the data exchange from the exchange computer that the issuer computer has redeemed the reward points selected by the user.

31. The reward exchange system of claim 29 in which the processor is programmed to cause the purchase transaction to be executed by the steps of:

A. transmitting an instruction via the data connection to the at least one issuer computer to request the at least one issuer computer to redeem the reward points selected by the user by (I) reducing the reward account associated with the user by the quantity of reward points selected by the user for execution of the purchase transaction, and (II) convey consideration to the merchant computer associated with the point of sale device corresponding to the quantity of reward points selected by the user for execution of the purchase transaction; and

B. receiving confirmation via the data exchange from the merchant computer that the issuer has redeemed the reward points selected by the user.

32. The reward exchange system of claim 29 wherein the promotional wallet indicates a total redeemable value of reward points stored in a plurality of reward point accounts associated with the user, each of said plurality of said reward point accounts also associated with one of a plurality of issuer computers.

33. The reward exchange system of claim 29 wherein the redemption selection input to the point of sale device indicates a combination of a first selection of reward points to be redeemed from a first reward point account and a second selection of reward points to be redeemed from a second reward point account.

34. The reward exchange system of claim 29 wherein the at least one input device comprises a bar code reading device.

35. The reward exchange system of claim 29 wherein the at least one input device comprises an RFID reader device.

36. The reward exchange system of claim 29 wherein the at least one input device comprises a manual data entry device.

37. The reward exchange system of claim 29 wherein the at least one input device comprises a magnetic stripe reader.

38. The reward exchange system of claim 29 wherein the at least one input device comprises a smart card reader.