System and method for a card benefit program providing benefits to program members based on program performance
First Claim
1. A computer-implemented method, comprising:
- establishing in a computer database a card payment account for an accountholder which provides returns based on a performance of a card issuer according to one or more performance metrics;
wherein said returns are based on a performance meeting or exceeding the one or more performance metrics during a pre-designated interval;
tracking performance of the account during the interval;
computing the performance of the account for the interval;
comparing the performance of the account during the interval to the one or more performance metrics and computing a return if the one or more performance metrics are met or exceeded.
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Accused Products
Abstract
The present invention comprises an apparatus and method for a card payment instrument providing that a share of program profits above a pre-designated level is returned to participating recipients at pre-designated intervals such as annually. Participants respond to an offer to participate in the mutual benefit program. After admission to the program, the card issuer tracks the performance according to the desired performance metric for the participants. At certain intervals, such as yearly, the card issuer reports out the financial performance for the period. If the performance exceeded the pre-designated threshold performance, then returns are distributed to participants according to a share methodology. The share methodology can provide that returns are allocated among participants according to various criteria, such as based on non-financial criteria including: periods of inactivity and financial criteria including: spending volume, finance charges, and so forth.
495 Citations
26 Claims
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1. A computer-implemented method, comprising:
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establishing in a computer database a card payment account for an accountholder which provides returns based on a performance of a card issuer according to one or more performance metrics; wherein said returns are based on a performance meeting or exceeding the one or more performance metrics during a pre-designated interval; tracking performance of the account during the interval; computing the performance of the account for the interval; comparing the performance of the account during the interval to the one or more performance metrics and computing a return if the one or more performance metrics are met or exceeded. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A system for monitoring card account portfolio performance and issuing performance-based returns, comprising:
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an account database storing data of a portfolio of card accounts which are eligible for a return based on the portfolio meeting one or more pre-designated performance metrics for the card issuer over a pre-designated interval; a card transaction processor for processing transactions against said card accounts; a system for maintaining performance metrics for the card issuer; a data extractor module for deriving performance data for one or more participating recipients and comparing derived performance data to said pre-designated performance metrics; a share allocation module for allocating a return based on results of the comparison across one or more participating recipients based on a share formula; and a return issuer system for providing allocated shares of the return to the one or more participating recipients. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25)
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26. A system for monitoring card account portfolio performance and issuing performance-based returns, comprising:
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an account database storing data of one or more portfolios of card accounts which are each independently eligible for a return based on each portfolio meeting one or more pre-designated performance metrics for a card issuer over a pre-designated interval; a card transaction processor for processing transactions against the card accounts; a system for maintaining performance metrics for the card issuer; a data extractor module for deriving performance data for one or more participating recipients and comparing derived performance data to the pre-designated performance metrics; a report module issuing card payment account statements to participating recipients that include information of account activity, information of portfolio performance and information of a projected net return or a projected share return; a share allocation module for allocating a return based on results of the comparison across participating recipients based on a share formula; and a return issuer system for providing allocated shares of the return to the participating recipients.
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Specification