Third party merchant-funded rewards accrual and redemption network
US10552883B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 15, 2018 |
| Grant date | Feb 4, 2020 |
| Priority date | — |
| Expiry date | Jun 19, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0255
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods for administering merchant funded third-party administered rewards programs are provided. The system receives information about a transaction made using a payment device and determines whether the payment device is enrolled in the rewards program. If the payment device is enrolled in the rewards program, the system determines if the transaction qualifies for a reward. If the transaction qualifies for the reward, the system determines a rewards value for the transaction. Thereafter, the system determines a prepaid payment token associated with the payment device and instructs an issuer of the prepaid payment token to load the rewards value onto the prepaid payment token.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.