System and method for providing socially enabled rewards through a user financial instrument

• US 8,566,197 B2
• Filed: 07/11/2011
• Issued: 10/22/2013
• Est. Priority Date: 01/21/2009
• Status: Active Grant

• Current Assignee: Truaxis, Inc. (MasterCard Incorporated)
• Original Assignee: Truaxis, Inc. (MasterCard Incorporated)
• Inventors: Satyavolu, Ramakrishna, Kothari, Samir, Daredia, Shehzad
• Primary Examiner(s): Colbert, Ella
• Application Number:
  US13/180,526
• Publication Number:
  US 20120004968A1
• Time in Patent Office: 834 Days
• Field of Search: 705/14, 705/14.1, 705/14.17, 705/14.25, 705/35, 705/40
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 20/386 using messaging services or messaging apps using mobile network messaging services for payment, e.g. SMS G06Q20/3255
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: H04M 15/00 Arrangements for metering, time-control or time indication ; Metering, charging or billing arrangements for voice wireline or wireless communications, e.g. VoIP
• CPC Class Codes: H04M 15/44 Augmented, consolidated or itemized billing statement or bill presentation
• CPC Class Codes: H04M 15/58 based on statistics of usage or network monitoring
• CPC Class Codes: H04M 15/745 Customizing according to wishes of subscriber, e.g. friends or family
• CPC Class Codes: H04M 15/80 : Rating or billing plans; Tariff determination aspects
• CPC Class Codes: H04M 15/8011 : using class of subscriber
• CPC Class Codes: H04M 15/8044 : Least cost routing
• CPC Class Codes: H04M 15/805 : Bidding
• CPC Class Codes: H04M 15/8083 : involving reduced rates or discounts, e.g. time-of-day reductions or volume discounts
• CPC Class Codes: H04M 15/83 : Notification aspects
• CPC Class Codes: H04M 15/84 : Types of notifications
• CPC Class Codes: H04M 15/85 : characterised by the type of condition triggering a notification
• CPC Class Codes: H04M 15/851 : Determined tariff
• CPC Class Codes: H04M 2215/0104 : Augmented, consolidated or itemised billing statement, e.g. additional billing information, bill presentation, layout, format, e-mail, fax, printout, itemised bill per service or per account, cumulative billing, consolidated billing
• CPC Class Codes: H04M 2215/0108 : Customization according to wishes of subscriber, e.g. customer preferences, friends and family, selecting services or billing options, Personal Communication Systems [PCS]
• CPC Class Codes: H04M 2215/018 : On-line real-time billing, able to see billing information while in communication, e.g. via the internet
• CPC Class Codes: H04M 2215/0184 : involving reduced rates or discounts, e.g. time-of-day reductions, volume discounts, cell discounts, group billing, frequent calling destination(s) or user history list
• CPC Class Codes: H04M 2215/0188 : Network monitoring; statistics on usage on called/calling number
• CPC Class Codes: H04M 2215/74 : Rating aspects, e.g. rating parameters or tariff determination apects
• CPC Class Codes: H04M 2215/7407 : class of subscriber
• CPC Class Codes: H04M 2215/745 : Least cost routing, e.g. Automatic or manual, call by call or by preselection
• CPC Class Codes: H04M 2215/7457 : Biding
• CPC Class Codes: H04M 2215/81 : Notifying aspects, e.g. notifications or displays to the user
• CPC Class Codes: H04M 2215/8129 : Type of notification
• CPC Class Codes: H04M 2215/815 : Notification when a specific condition, service or event is met

Abstract

A system and method for providing socially enabled rewards through a user financial instrument includes gathering transaction data from a user'"'"'s financial account and analyzing the transaction data for a savings opportunity indication. A savings opportunity from a database of savings opportunities is matched to the user based on the savings opportunity indication, wherein the savings opportunity can be shared with other users or a social network. The savings opportunity is displayed in association with a statement of a user'"'"'s financial account and the user is allowed to share the savings opportunity, wherein sharing causes a shared savings opportunity to be generated. A second user, one who received the shared savings opportunity, can redeem the shared savings opportunity. The sharing and redemption of the shared savings opportunity is tracked, such as to improve targeting users who are influential based on the number of redemptions of the shared savings opportunity.

Claims

1. A method, comprising:

gathering transaction data by at least one computer from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user;

analyzing the transaction data with the at least one computer for transactions by the user;

matching a savings opportunity from a database of savings opportunities to the user based on the transactions by the user, wherein the savings opportunity can be shared with other users or a social network;

displaying the matched savings opportunity in association with a statement of a user'"'"'s financial account;

receiving an indication from the user by the at least one computer for sharing the matched savings opportunity with at least one additional user, wherein sharing causes the at least one computer to generate a shared savings opportunity;

receiving an indication to redeem the shared savings opportunity; and

tracking the sharing and redemption of the shared savings opportunity.

2. The method of claim 1, further comprising receiving an indication from a merchant to modify the savings opportunity prior to generating the shared savings opportunity.

3. The method of claim 1, wherein the financial account is at least one of a bank account, a checking account, a savings account, a credit account, a personal finance program account, and a loan account.

4. The method of claim 1, further comprising automatic redemption upon presentation of a transaction card associated with the user'"'"'s financial account.

5. The method of claim 1, further comprising providing the user with at least one of a printed coupon, a bar code coupon presented on a mobile device, and a credit on a merchant loyalty card.

6. The method of claim 1, further comprising anonymizing the financial transaction data after the step of gathering the transaction data.

7. The method of claim 1, wherein analyzing comprises extracting at least one of a merchant name, a merchant category, a merchant location, a transaction amount, a transaction frequency, a zip code, a store name, a store category, a store number, a transaction description, a purchase frequency, and a total spending amount.

8. The method of claim 1, wherein the savings opportunity is a coupon.

9. The method of claim 8, wherein the coupon is a barcode presented on a mobile device.

10. The method of claim 8, wherein the coupon is a printed coupon presented in a statement.

11. The method of claim 8, wherein the coupon is an online redemption coupon code.

12. The method of claim 1, wherein the savings opportunity is an automatic discount on a subsequent transaction.

13. The method of claim 1, wherein the savings opportunity is a credit on a subsequent transaction.

14. The method of claim 13, wherein when the user makes the subsequent transaction, the user receives the credit.

15. The method of claim 1, wherein the savings opportunity is a pre-paid offer.

16. The method of claim 15, wherein the pre-paid offer is charged immediately to the user'"'"'s financial account.

17. The method of claim 15, wherein the pre-paid offer is redeemed via at least one of an online coupon code, an in-store coupon, and a mobile phone coupon.

18. The method of claim 1, wherein the savings opportunity is a merchant loyalty program.

19. The method of claim 18, wherein the merchant loyalty program is implemented through the use of a transaction card associated with the financial account.

20. The method of claim 18, wherein the merchant loyalty program is implemented by providing the user with at least one of a printed coupon, a bar code coupon presented on a mobile device, and a credit on a merchant loyalty card.

21. The method of claim 1, wherein the at least one additional user is a friend of the user on a social network.

22. The method of claim 1, further comprising increasing a savings opportunity or a reward level for the user after receiving the indication from the user for sharing.