System and method for a card benefit program providing benefits to program members based on program performance
US7360693B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Jul 20, 2006 |
| Grant date | Apr 22, 2008 |
| Priority date | — |
| Expiry date | Jul 20, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention comprises an apparatus and method for a card payment instrument providing that a share of program profits above a pre-designated level is returned to participating recipients at pre-designated intervals such as annually. Participants respond to an offer to participate in the mutual benefit program. After admission to the program, the card issuer tracks the performance according to the desired performance metric for the participants. At certain intervals, such as yearly, the card issuer reports out the financial performance for the period. If the performance exceeded the pre-designated threshold performance, then returns are distributed to participants according to a share methodology. The share methodology can provide that returns are allocated among participants according to various criteria, such as based on non-financial criteria including: periods of inactivity and financial criteria including: spending volume, finance charges, and so forth.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.