Methods and systems for generating dynamic reward currency values

• US 7,698,185 B2
• Filed: 04/28/2005
• Issued: 04/13/2010
• Est. Priority Date: 04/28/2005
• Status: Active Grant

• Current Assignee: Loylogic Licensing Incorporated
• Original Assignee: Loylogic Incorporated
• Inventors: Hofer, Dominic, Frieden, Bruno M
• Primary Examiner(s): Akintola; Olabode
• Application Number:
  US11/117,225
• Publication Number:
  US 20060248007A1
• Time in Patent Office: 1,811 Days
• Field of Search: None
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Systems and methods are disclosed for generating payment values of goods and services (rewards). The disclosed systems and methods may include receiving an input. Furthermore, the disclosed systems and methods may include dynamic calculating, based upon the received input, a plurality of payment pairs, each of the plurality of payment pairs comprising any (including a plurality of) non-monetary currency value and/or any monetary currency value (between 0% and 100% respectively 100% and 0%).

Claims

1. A computer implemented method for determining payment values for currency components of at least one payment pair comprising a non-monetary currency component and a monetary currency component, wherein the payment pair is used in the purchase of goods and services, the method comprising:

retrieval, by a computing device, data representative of at least one attribute associated with the goods and services being purchased; and

the computing device generating, based upon the attributes retrieved, data representative of values for the currency components of the at least one payment pair, wherein a unit value of the units comprising the non-monetary currency component is dynamic, varying along a payment continuum in response to processing of data representative of the at least one attribute associated with the goods or services being purchased and data representative of the amount of the monetary currency component of the payment pair.

2. The computer implemented method of claim 1, wherein the data representative of at least one attribute associated with the goods and services being purchased includes data representative of at least one of a retail price value, a wholesale price value, a fee value, a margin value, a coverage price value, a non-monetary currency redemption value, a non-monetary currency shopping value growth below coverage price value, and a non-monetary currency shopping value growth above coverage price value.

3. The computer implemented method of claim 1, wherein the price continuum extends from zero up to the price of the goods or services being purchased.

4. The computer implemented method of claim 1, wherein generating values for the currency components of the at least one payment pair further comprises, determining the monetary currency component based upon the input of data representative of the number of units of the corresponding non-monetary currency component of the payment pair, an initial dynamic unit value associated with each unit of the non-monetary currency component, and the at least one attribute associated with the goods and services being purchased.

5. The computer implemented method of claim 1, wherein generating values for the currency components of the at least one payment pair further comprises, generating the non-monetary currency component value based upon the input of data representative of the at least one attribute associated with the goods and services being purchased including data representative of a value of the monetary currency component of the payment pair, wherein the unit value of the units of non-monetary currency comprising the non-monetary currency component is dynamic and varies along a currency continuum associated with the goods and services being purchased and is not proportional to the value of the corresponding monetary currency component within the payment pair.

6. The computer implemented method of claim 1, wherein generating values for the currency components of the at least one payment pair further comprises, generating the monetary currency component based upon data representative of the at least one attribute input relating to the purchase of goods and services and a value of the non-monetary currency component, wherein the monetary currency component value has a corresponding value that is different for each payment pair of a plurality of payment pairs generated.

7. The computer implemented method of claim 1, further comprising displaying the at least one payment pair.

8. The computer implemented method of claim 1, further comprising debiting a monetary currency account based on the monetary currency component value corresponding to a payment pair generated and selected by a consumer, and debiting a non-monetary currency account based on the number of units of non-monetary currency comprising the non-monetary currency component corresponding to the payment pair generated and selected by the consumer.

9. The computer implemented method of claim 8, wherein the debiting a the monetary account and the non-monetary currency account occurs at the time of the purchase of the goods and services.

10. A system for determining the value of at least one currency component of a payment pair used to purchase goods or services, wherein the payment pair is comprised of data representative of a non-monetary currency component and a monetary currency component, the system comprising:

a memory storage for maintaining a database; and

a processing unit coupled to the memory storage, wherein the processing unit is configured to receive an input of data including data representative of a first component of the payment pair and at least one attribute relating to the goods or services purchased, said processing unit being further configured to generate, based upon the received input, data representative of a second component of the at least one payment pair, wherein the respective value of the second component of the payment pair is not directly proportional to the first component of the payment pair, and wherein a unit value of the units comprising the non-monetary currency component is dynamic, varying along a payment continuum in response to processing of data representative of the at least one attribute associated with the goods or services being purchased and data representative of the amount of the monetary currency component of the payment pair.

11. The system of claim 10, wherein the processing unit being configured to receive the input further comprises the processing unit being configured to receive data and in response thereto generate the at least one payment pair, wherein the data representative of the at least one attribute includes at least one of a retail price value, a wholesale price value, a fee value, a margin value, a coverage price value, a non-monetary currency redemption value, a non-monetary shopping value growth below coverage price value, and a non-monetary shopping value growth above coverage price value or any variation or extension thereof.

13. The system of claim 10, further comprising the processing unit being configured to display the at least one payment pair.

14. The system of claim 10, further comprising the processing unit being configured to receive an indication corresponding to one of the at least one payment pair.

15. The system of claim 10, further comprising the processing unit being configured to debit a monetary currency account based on the monetary currency component value corresponding to the at least one payment pair selected from a plurality of payment pairs generated.

16. The system of claim 10, further comprising the processing unit being configured to debit a non-monetary currency account based on the number of units of the non-monetary currency comprising the non-monetary currency component corresponding to the payment pair selected from the at least one payment pair.

12. A system for determining the value of at least one currency component of a payment pair used to purchase goods or services, wherein the payment pair is comprised of data representative of a non-monetary currency component and a monetary currency component, the system comprising:

a memory storage for maintaining a database; and

a processing unit coupled to the memory storage, wherein the processing unit is configured to receive an input of data including data representative of a first component of the payment pair and at least one attribute relating to the goods or services purchased; and

generate, based upon the received input, data representative of a second component of the at least one payment pair, wherein the respective value of the second component of the payment pair is not directly proportional to the first component of the payment pair, wherein the processing unit being configured to generate at least one payment pair is further configured to calculate the non-monetary currency value based upon the following equation;

17. A computer-readable medium which stores a set of instructions which when executed performs a method for determining values for currency components of at least one payment pair comprising a non-monetary currency component and a monetary currency component, wherein the payment pair is used in the purchase of goods and services, the method executed by the set of instructions comprising:

retrieving data representative of at least one attribute associated with the goods and services being purchased and receiving data representative of at least one of the non-monetary currency component and the monetary currency component; and

generating at least one set of currency components of the payment pair, based upon the received input and the data representative of the at least one attribute, wherein a unit value of the units comprising the non-monetary currency component is dynamic, varying along a price continuum in response to processing of data representative of the at least one attribute associated with the goods or services being purchased and data representative of the amount of the monetary currency component of the payment pair.

18. The computer-readable medium of claim 17, wherein receiving the input further comprises receiving at least one price attribute of data representative of at least one of a retail price value, a wholesale price value, a fee value, a margin value, a coverage price value, a non-monetary currency redemption value, a non-monetary currency shopping value growth below coverage price value, and a non-monetary currency shopping value growth above coverage price value.

19. The computer-readable medium of claim 17, wherein the price continuum extends from zero up to the price of the goods or services being purchased.

20. The computer-readable medium of claim 17, wherein the method of determining values for the currency components of the at least one payment pair further comprises, determining the monetary currency component value based upon the number of units of non-monetary currency comprising the non-monetary currency component of a payment pair, an initial dynamic unit value associated with each unit of the non-monetary currency comprising the non-monetary currency component, and the at least one attribute of data received that relates to the goods or services being purchased.

21. The computer-readable medium of claim 17, further comprising displaying the at least one set of payment pair values.

22. The computer-readable medium of claim 17, further comprising receiving an indication corresponding to the at least one set of payment pair values.

23. The computer-readable medium of claim 22, further comprising debiting a monetary currency account based on the monetary currency component value corresponding to the at least one set of payment pair values selected from a plurality of payment pairs.

24. The computer-readable medium of claim 22, further comprising debiting a non-monetary currency account based on the non-monetary currency component value corresponding to the at least one set of payment pair values selected from a plurality of payment pairs.

25. A method for determining values for currency components of at least one payment pair which when combined provide a dynamic currency, the payment pair comprising a non-monetary currency component and a monetary currency component that is used in a purchase of goods and services, the method comprising:

a computing device receiving an input of data, wherein the data received is representative of at least one attribute associated with the purchase of goods and services; and

the computing device generating, based upon the input received, data representative of values of the at least one payment pair, wherein the non-monetary currency component generated is dependent upon a non-monetary currency unit value generated, wherein the unit value generated is dynamic, varying along a monetary price continuum ranging from zero up to the price of the goods and services being purchased, the dynamic unit value generated being dependent upon an input of data representative of the monetary currency component of the payment pair.

26. A method for determining payment values for currency components of at least one payment pair comprising a non-monetary currency component and a monetary currency component, wherein the payment pair is used in the purchase of goods and services, the method comprising:

receiving an input of data from a first computing device, wherein the data received includes data representative of at least one attribute associated with the goods and services being purchased; and

generating by a second computing device, based upon the received input, data representative of values for the currency components of the at least one payment pair, wherein a unit value of the units comprising the non-monetary currency is dynamic and varies in response to data received from the first computing device, wherein generating values for the currency components of the at least one payment pair further comprises, calculating the non-monetary currency component value based upon the following equation;

27. A computer-readable medium which stores a set of instructions which when executed performs a method for determining values for currency components of at least one payment pair comprising a non-monetary currency component and a monetary currency component, wherein the payment pair is used in the purchase of goods and services, the method executed by the set of instructions comprising:

receiving an input of data from a computing device wherein the data received includes data representative of at least one attribute associated with the goods and services being purchased and data representative of at least one of the non-monetary currency component and the monetary currency component; and

generating at least one set of currency components of the payment pair, based upon the received input, wherein a unit value of the units comprising the non-monetary currency component is determined and said unit value varies in response to said data received from the computing device, wherein generating the at least one set of payment pair values further comprises, calculating the non-monetary component value based upon the following equation;