Conversion of credits to funds

• US 8,342,399 B1
• Filed: 07/05/2012
• Issued: 01/01/2013
• Est. Priority Date: 05/25/2006
• Status: Expired due to Fees

• Current Assignee: JBSHBM, LLC
• Original Assignee: Brian K. Buchheit, Sean I. Mcghie
• Inventors: MCGHIE, SEAN I., BUCHHEIT, BRIAN K.
• Primary Examiner(s): Labaze, Edwyn
• Application Number:
  US13/542,451
• Time in Patent Office: 180 Days
• Field of Search: 235/380, 235/375, 235/379, 235/487, 235/486, 235/382, 705/14, 705/39
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/0228 On-line clearing houses

Abstract

In one embodiment, non-negotiable credits from a user interaction with a credit providing entity can be identified. The credits can be associated with an entity with which a user has previously interacted. The previous interactions can earn the credits, which are non-negotiable credits. The credit providing entity can present the user with indicia indicating credit redemption opportunities. Responsive to a user request, a conversion agency can convert a quantity of the non-negotiable credits to a quantity of negotiable funds, wherein the conversion agency is not directly associated with the entity. The user can be permitted to access the quantity of negotiable funds, wherein the quantity of negotiable funds are able to be applied to user specified purchases, wherein at least a portion of the user specified purchases involve at least one vender that does not honor the non-negotiable credits.

Claims

1. A method comprising:

at least one of one or more computers establishing an account for non-negotiable credits provided by an entity to one or more users;

at least one of the one or more computers detecting a set of two or more interactions between the entity and at least one of the one or more users, each of the interactions earning a quantity of non-negotiable credits, wherein the earned quantities of non-negotiable credits for each of the interactions are added to the account; and

at least one of the one or more computers subtracting a quantity of the non-negotiable credits from the account, said subtracted quantity of non-negotiable credits corresponding to a quantity of negotiable funds or a quantity of entity independent funds in accordance with a conversion rate established during a conversion operation for converting the non-negotiable credits to negotiable funds or entity independent funds, wherein the quantity of negotiable funds or entity independent funds resulting from the conversion operation are able to be applied to one or more purchases with at least one commerce partner that accepts the negotiable funds or the entity independent funds for purchases but does not directly accept the non-negotiable credits for purchases.

2. The method of claim 1, wherein the one or more computers is one computer.

3. The method of claim 1, wherein the one or more computers is a plurality of computers, wherein different ones of the plurality of computers perform different ones of the establishing of the account, the detecting of the set of interactions, and the subtracting of the non-negotiable credits.

4. The method of claim 1, wherein the conversion operation is performed by a different entity than the entity.

5. The method of claim 1, wherein the conversion ratio is established and maintained by the entity, which is based on an amount of compensation the entity will pay for consumption of the subtracted quantity of the non-negotiable credits.

6. The method of claim 1, wherein the non-negotiable credits are loyalty points for a loyalty program or rewards program provided by the entity to the one or more users.

7. The method of claim 1, wherein the subtracted quantity of the non-negotiable credits corresponds to the quantity of negotiable funds, and wherein the conversion operation is for converting the non-negotiable credits to the negotiable funds.

8. The method of claim 1, wherein the subtracted quantity of the non-negotiable credits corresponds to the quantity of entity-independent funds, and wherein the conversion operation is for converting the non-negotiable credits to the entity independent funds.

9. The method of claim 8, wherein the entity independent funds are loyalty points for a loyalty program or rewards program provided by the commerce partner to the one or more users.

10. The method of claim 1, wherein the one or more purchases with the at least one commerce partner are for virtual goods provided by the one or more commerce partner.

11. The method of claim 1, wherein the non-negotiable credits are winnings earned from risking a user selected quantity of negotiable funds or non-negotiable credits while playing a game, said game having an element of chance or skill upon which receiving the winnings depend.

12. The method of claim 1, wherein the non-negotiable credits are earned through use of a payment artifact provided by the entity.

13. The method of claim 1, wherein the entity expressly disclaims liability from usages of the negotiable funds or the entity independent funds resulting from the conversion operation.

14. The method of claim 1, wherein the entity expressly indicates that the non-negotiable credits have no cash value.

15. The method of claim 1, wherein the non-negotiable credits have restrictions on use, wherein the restrictions on use result in the at least one commerce partner not directly accepting the non-negotiable credits for purchases in absence of the conversion operation.

16. The method of claim 1, further comprising:

the entity providing the one or more users with one or more credit earning customer incentive activities, wherein upon successful completion of the one or more credit earning customer incentive activities by one of the one or more users, the entity grants the one or more users at least a sub quantity of the quantity of non-negotiable credits, wherein the providing of the credit earning customer incentive activities occurs through at least one of the one or more computers.

17. The method of claim 1, further compressing:

the entity presenting at least one of the one or more users with indicia to inform the at least one of the one or more users of opportunities for redeeming the earned quantity of non-negotiable credits with the at least one commerce partner, said opportunities requiring the conversion operation, wherein the presenting of the indicia occurs through at least one of the one or more computers.

18. The method of claim 1, further comprising:

at least one of the one or more computers granting the one or more users the quantity of non-negotiable credits in response to the one or more users interacting with the entity.

19. The method of claim 1, further comprising:

at least one of the one or more computers indicating a conversion of the non-negotiable credits to the negotiable funds or to the entity independent funds, wherein the conversion operation is performed in a manner consisted with the indicated conversion.

20. The method of claim 1, wherein said conversion operation occurs substantially concurrently with one of said interactions.

21. The method of claim 1, wherein said conversion operation occurs substantially concurrently with one of said purchases.

22. The method of claim 1, wherein said conversion operation creates negotiable funds to be applied to one or more prior purchases.

23. The method of claim 1, wherein said conversion operation creates negotiable funds to be applied to one or more prior interactions.

24. The method of claim 1, wherein the set of two or more interactions are commercial transactions occurring using a payment artifact provided by the entity, wherein the entity compensates the commerce partner for purchases made by the one or more users with the payment artifact, wherein at least one of the one or more users reimburse the entity for the one or more purchases made with the payment artifact after the purchases occur, wherein the reimbursement comprises the at least one of the one or more users redeeming the non-negotiable credits with the entity in lieu of reimbursing the entity with negotiable funds for the purchases previously made with the at least one commerce partner using the payment artifact.

25. A method comprising:

one or more computers granting one or more users a quantity of non-negotiable credits in response to the one or more users interacting with an entity providing the non-negotiable credits; and

at least one of the one or more computers indicating a conversion of the non-negotiable credits to entity independent funds, wherein the entity expressly disclaims liability from usages of the entity independent funds resulting from the conversion, wherein the entity explicitly indicates that the provided non-negotiable credits have no cash value, wherein the entity independent funds are able to be directly used for purchasing goods or services via a storefront, wherein the storefront does not permit direct usage of the non-negotiable credits for the purchasing of goods or services.

26. The method of claim 25, wherein the indicating of the conversion comprises at least one of the one or more computers subtracting a quantity of the non-negotiable credits maintained in a non-negotiable credit account in exchange for a quantity of entity independent funds being made available for the purchase, wherein the subtracted quantity of the non-negotiable credits and the quantity of entity independent credits are based on an established conversion ratio for converting the non-negotiable credits into the entity-independent funds, wherein the one or more users are charged zero or more non-negotiable credits, entity-independent funds, or negotiable credits for converting the non-negotiable credits into the entity-independent funds.

27. The method of claim 25, further comprising:

presenting a message to the one or more users, said message notifying the one or more users that the non-negotiable credits are able to be converted into the entity independent funds for purchases for which the non-negotiable credits are not able to be directly used.

28. The method of claim 25, wherein each of the one or more computers comprise one or more computer-readable, tangible storage devices and computer-readable program instructions which are stored on the one or more storage devices, wherein execution of the computer-readable program instructions result in one or more of the computers granting the one or more users the quantity of non-negotiable credits and result in indicating the conversion of the non-negotiable credits to the entity independent funds.

29. The method of claim 25, wherein a single one of the one or more computers grants the one or more users the quantity of non-negotiable credits and indicates the conversion of the non-negotiable credits to the entity independent funds.

30. The method of claim 25, wherein the conversion of non-negotiable funds to entity-independent funds is performed by a conversion agency, wherein the conversion agency is a different legal entity than the entity.

31. The method of claim 25, wherein the one or more users compensate the entity for the conversion of non-negotiable credits to entity-independent funds, said compensation being an amount in negotiable funds.

32. The method of claim 25, wherein the non-negotiable credits are loyalty points for a loyalty program or rewards program provided by the entity to the one or more users.

33. The method of claim 25, wherein the non-negotiable credits are earned through completing commercial transactions with the entity or are earned through use of a payment artifact provided by the entity.

34. The method of claim 25, wherein the non-negotiable credits are winnings earned from risking a user selected quantity of negotiable funds or non-negotiable credits while playing the game, said game having an element of chance or skill upon which receiving the winnings depend.

35. The method of claim 25, wherein the non-negotiable credits are rewards for a frequency with which a user plays a game provided by the entity.

36. The method of claim 25, wherein the storefront is an electronic or on-line storefront.

37. A method comprising:

a credit providing entity providing one or more customers with one or more credit earning customer incentive activities, wherein upon successful completion of the one or more credit earning customer incentive activities by a customer, the activity providing entity grants the customer a quantity of non-negotiable credits; and

the non-negotiable credit providing entity presenting the customer with indicia to inform the customer of opportunities for redeeming the earned quantity of non-negotiable credits on purchases with one or more venders that are different legal entity than the credit providing entity, wherein the credit providing entity asserts that the granted non-negotiable credits have no cash value, and wherein the one or more venders redeem the non-negotiable credits, which were received from the customer for purchases, with the credit providing entity as part of a previously established agreement between the one or more venders and the credit providing entity, wherein at least one of the providing of the credit earning customer incentive activities and the presenting of the indicia to inform the customer about opportunities for redeeming is performed by a computer executing program instructions stored in a memory.

38. The method of claim 37, further comprising:

a server of the credit providing entity directing the customer to the one or more selected non-negotiable credit redemption options upon customer selection of the presented indicia within a user interface of a local computer connected to the server, wherein the server provides renderable content presented in the user interface.

39. The method of claim 37, wherein the purchases between the customer and the one or more venders are online shopping purchases.

40. The method of claim 37, wherein the credit earning consumer incentive activity is a game of chance.

41. The method of claim 37, wherein the credit earning consumer incentive activity is an online computer game.

42. The method of claim 37, wherein the successful completion of the one or more incentive activities comprises the customer winning a game of chance.

43. The method of claim 37, wherein the purchases with the one or more venders are for virtual goods provided by the one or more venders.

44. A computer program product comprising:

one or more non-transitory computer-readable mediums;

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to establish an account for non-negotiable credits provided by an entity to one or more users;

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to detect a set of two or more interactions between the entity and at least one of the one or more users, each of the interactions earning a quantity of non-negotiable credits, wherein the earned quantities of non-negotiable credits for each of the interactions are added to the account; and

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to subtract a quantity of the non-negotiable credits from the account, said subtracted quantity of non-negotiable credits corresponding to a quantity of negotiable funds or a quantity of entity independent funds in accordance with a conversion rate established during a conversion operation for converting the non-negotiable credits to negotiable funds or entity independent funds, wherein the quantity of negotiable funds or entity independent funds resulting from the conversion operation are able to be applied to one or more purchases with at least one commerce partner that accepts the negotiable funds or the entity independent funds for purchases but does not directly accept the non-negotiable credits for purchases.

45. A computer program product comprising:

one or more non-transitory computer-readable mediums;

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to grant one or more users a quantity of non-negotiable credits in response to the one or more users interacting with an entity providing the non-negotiable credits; and

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to indicate a conversion of the non-negotiable credits to entity independent funds, wherein the entity expressly disclaims liability from usages of the entity independent funds resulting from the conversion, wherein the entity explicitly indicates that the provided non-negotiable credits have no cash value, wherein the entity independent funds are able to be directly used for purchasing goods or services via a storefront, wherein the storefront does not permit direct usage of the non-negotiable credits for the purchasing of goods or services.

46. The computer program product of claim 45, wherein the program instructions to indicate the conversion comprises program instructions to subtract a quantity of the non-negotiable credits maintained in a non-negotiable credit account in exchange for a quantity of entity independent funds being made available for the purchase, wherein the subtracted quantity of the non-negotiable credits and the quantity of entity independent credits are based on an established conversion ratio for converting the non-negotiable credits into the entity-independent funds, wherein the one or more users are charged zero or more non-negotiable credits, entity-independent funds, or negotiable credits for converting the non-negotiable credits into the entity-independent funds.

47. The computer program product of claim 45, wherein the non-negotiable credits are loyalty points for a loyalty program or rewards program provided by the entity to the one or more users.

48. A computer program product comprising:

one or more non-transitory computer-readable mediums;

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to provide one or more customers with one or more credit earning customer incentive activities, wherein upon successful completion of the one or more credit earning customer incentive activities by a customer, the activity providing entity grants the customer a quantity of non-negotiable credits; and

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to present the customer with indicia to inform the customer of opportunities for redeeming the earned quantity of non-negotiable credits on purchases with one or more venders that are different legal entity than a credit providing entity, wherein the credit providing entity asserts that the granted non-negotiable credits have no cash value, and wherein the one or more venders redeem the non-negotiable credits, which were received from the customer for purchases, with the credit providing entity as part of a previously established agreement between the one or more venders and the credit providing entity, wherein at least one of the providing of the credit earning customer incentive activities and the presenting of the indicia to inform the customer about opportunities for redeeming is performed by a computer executing program instructions stored in a memory.

49. The computer program product of claim 48, further comprising:

program instructions, stored on at least one of the one or more non-transitory computer-readable mediums, to direct the customer to the one or more selected non-negotiable credit redemption options upon customer selection of the presented indicia within a user interface of a local computer connected to a server of a credit providing entity, wherein the server provides renderable content presented in the user interface.

50. The computer program product of claim 48, wherein the purchases with the one or more venders are for virtual goods provided by the one or more venders.