Method and system for managing a customer loyalty award program

US10475048B2 · kind B2 · utility

Assignee

• JPMORGAN CHASE BANK, N.A. · US

Inventors

• Jasper Angus Malcolmson · San Francisco, US
• Ashish Baldua · San Jose, US
• Gustavo Both Bitdinger · San Diego, US
• Lisa Marie Bruggeman · San Francisco, US
• Andy Bodart · Santa Clara, US
• Kenneth Ivar Kronquist · San Jose, US

Key dates

• Filing date: Aug 8, 2011
• Grant date: Nov 12, 2019
• Expiry date: Sep 17, 2032

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0222
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

This invention discloses a novel system and method for implementing an electronic customer loyalty rewarding service that awards credits for continued patronage of a vendor, where the credits can be spent at the vendor or with other vendors that participate in the service. The disclosure further includes an embodiment where the system automatically calculates a discount voucher deal for a vendor with a guarantee spend amount per customer that uses the voucher. The system automatically trades these transactions in order to either electronically pay the guarantee or collect a commission on the overspend above the guarantee.