Point of interaction loyalty currency redemption in a transaction

Patent metadata

Field	Value
Publication number	US-11004052-B2
Application number	US-201916545394-A
Country	US
Kind code	B2
Filing date	Aug 20, 2019
Priority date	Feb 13, 2009
Publication date	May 11, 2021
Grant date	May 11, 2021

Abstract

Multiple different non-financial loyalty currencies held by different issuers are used by a consumer as financial tender for a transaction with a merchant. Each issuer pays to a primary issuer the financial currency value of the non-financial loyalty currencies being held in return for a corresponding reduction of the balance of non-financial loyalty currency. For each reduced balance, the primary issuer adds an equivalent primary loyalty currency to a primary loyalty account for the consumer. The primary issuer pays the merchant for the transaction in financial currency and makes an equivalent reduction in the balance of the primary loyalty currency. The financial value of each loyalty currency may be dependent upon its use in a transaction with a competitor of a merchant supplying loyalty currency to the consumer.

First claim

What is claimed is:

1. A computer-implemented method comprising:
receiving, with at least one processor and from a database, registration data associating a payment account with a plurality of loyalty accounts, wherein the payment account is controlled by a primary issuer on an electronic payment processing network to hold financial currencies for a user, and the plurality of loyalty accounts are controlled by a plurality of secondary issuers to hold loyalty currencies for the user;
in response to receiving an authorization request in the electronic payment processing network for a payment transaction in the payment account, determining, with at least one processor, a first redemption amount of funds to be applied to the payment transaction through redemption of loyalty currencies associated with the payment account identified in the authorization request;
determining, with at least one processor, second redemption amounts respectively from the plurality of loyalty accounts associated with the payment account in the database;
communicating, with at least one processor and based on the second redemption amounts, with each respective issuer in the plurality of secondary issuers to cause each respective issuer to send to the primary issuer an equivalent financial currency value of a loyalty currency value being held by the respective issuer, the equivalent financial currency value determined at least partly by a multiplier that is associated with a respective loyalty account of the user controlled by the respective issuer, the multiplier configured to be updated by the respective issuer based at least partially on at least one of the following: user membership status, total value of the respective loyalty account, transaction history, or any combination thereof;
communicating, with at least one processor and based on the first redemption amount of funds, with the primary issuer to cause the primary issuer to send, as financial tender for the payment transaction, at least a first financial currency value corresponding to a sum of equivalent financial currency values from the plurality of loyalty accounts;
communicating, with at least one processor, with the respective issuer to cause the respective issuer to clear and settle the equivalent financial currency value sent to the primary issuer; and
communicating, with at least one processor, with the primary issuer to cause the primary issuer to clear and settle the first financial currency value sent as financial tender for the payment transaction.

2. The method of claim 1 , further comprising:
receiving, with at least one processor, identifiers of the plurality of loyalty accounts;
generating, with at least one processor, the registration data; and
storing, with at least one processor, the registration data in the database.

3. The method of claim 1 , wherein communications with each respective issuer in the plurality of secondary issuers are routed through a points broker.

4. The method of claim 1 , wherein the payment transaction is processed as a dual message transaction, wherein the authorization request is received in a first message of the dual message transaction for an authorization decision, and the payment transaction is cleared and settled in response to a second message of the dual message transaction.

5. The method of claim 1 , wherein clearing and settlement of the payment transaction is satisfied by the first financial currency value alone.

6. The method of claim 1 , wherein the multiplier is based at least partially on total value of the respective loyalty account and is configured to increase in proportion to the total value of the respective loyalty account.

7. A system comprising a transaction handler configured in an electronic payment processing network and including at least one processor, the transaction handler programmed and/or configured to:
receive, from a database, registration data associating a payment account with a plurality of loyalty accounts, wherein the payment account is controlled by a primary issuer on an electronic payment processing network to hold financial currencies for a user, and the plurality of loyalty accounts are controlled by a plurality of secondary issuers to hold loyalty currencies for the user;
in response to receiving an authorization request in the electronic payment processing network for a payment transaction in the payment account, determine a first redemption amount of funds to be applied to the payment transaction through a redemption of loyalty currencies associated with the payment account identified in the authorization request;
determine second redemption amounts respectively from the plurality of loyalty accounts associated with the payment account in the database;
communicate, based on the second redemption amounts, with each respective issuer in the plurality of secondary issuers to cause each respective issuer to send to the primary issuer an equivalent financial currency value of a loyalty currency value being held by the respective issuer, the equivalent financial currency value determined at least partly by a multiplier that is associated with a respective loyalty account of the user controlled by the respective issuer, the multiplier configured to be updated by the respective issuer based at least partially on at least one of the following: user membership status, total value of the respective loyalty account, transaction history, or any combination thereof;
communicate, based on the first redemption amount of funds, with the primary issuer to cause the primary issuer to send, as financial tender for the payment transaction, at least a first financial currency value corresponding to a sum of equivalent financial currency values from the plurality of loyalty accounts;
communicate with the respective issuer to cause the respective issuer to clear and settle the equivalent financial currency value sent to the primary issuer; and
communicate with the primary issuer to cause the primary issuer to clear and settle the first financial currency value sent as financial tender for the payment transaction.

8. The system of claim 7 , wherein the transaction handler is programmed and/or configured to:
receive identifiers of the plurality of loyalty accounts;
generate the registration data; and
store the registration data in the database.

9. The system of claim 7 , wherein communications with each respective issuer in the plurality of secondary issuers are routed through a points broker.

10. The system of claim 7 , wherein the payment transaction is processed as a dual message transaction, wherein the authorization request is received in a first message of the dual message transaction for an authorization decision, and the payment transaction is cleared and settled in response to a second message of the dual message transaction.

11. The system of claim 7 , wherein clearing and settlement of the payment transaction is satisfied by the first financial currency value alone.

12. The system of claim 7 , wherein the multiplier is based at least partially on total value of the respective loyalty account and is configured to increase in proportion to the total value of the respective loyalty account.

13. A non-transitory computer medium storing instructions which, when executed by a processor of a computing apparatus configured on an electronic payment processing network, causes the computing apparatus to:
receive, from a database, registration data associating a payment account with a plurality of loyalty accounts, wherein the payment account is controlled by a primary issuer on an electronic payment processing network to hold financial currencies f

Assignees

• Visa Int Service Ass

Inventors

• Salmon Diane C
• Amaro Leigh
• Day Meara

Classifications

• G06Q20/206 Primary

  comprising security or operator identification provisions, e.g. password entry · CPC title

• G06Q20/227

  characterised in that multiple accounts are available, e.g. to the payer · CPC title

• G06Q30/0227

  Frequent usage incentive value reconciliation between diverse systems · CPC title

• G06Q20/10

  specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems · CPC title

• G06Q20/387

  Payment using discounts or coupons (relating to marketing G06Q30/02) · CPC title