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Method and system for post-transaction rewards

A transaction and reward value technology, applied in the field of real-time promotions, can solve problems such as upgrades

Pending Publication Date: 2018-11-23
MASTERCARD INT INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

However, such a solution may require the merchant to upgrade the programming of the device or the pre-existing device in its store, as well as train their staff on new procedures that may differ for different incentive or promotional programs

Method used

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  • Method and system for post-transaction rewards
  • Method and system for post-transaction rewards
  • Method and system for post-transaction rewards

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Embodiment Construction

[0029] Glossary

[0030] Payment Network - A system or network for transferring money via the use of cash substitutes. Payment networks may use a variety of different protocols and procedures to handle the transfer of money for various types of transactions. Transactions that may be performed via the payment network may include product or service purchases, credit purchases, debit transactions, funds transfers, account withdrawals, and the like. The payment network may be configured to perform transactions via cash substitutes, which may include payment cards (e.g., credit cards, prepaid cards, debit cards, merchant cards, chip and pin cards, near field communication ( NFC), physical and virtual cards, etc.), letters of credit, checks, transaction accounts, etc. Examples of networks or systems configured to work as payment networks include those networks or systems operated by others. The term "payment network" is used herein to refer to both the payment network as an...

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PUM

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Abstract

A method for managing reward value related to a transaction account is described. The method includes receiving a redemption request; generating a reward cost based on at least a conversion rate and atransaction amount; updating a reward value in an account profile to place a hold on an amount of the reward value equivalent to the reward cost; and deducting a deduction amount from the reward value.

Description

[0001] Cross References to Related Applications [0002] This application claims priority and benefit from the filing date of US Patent Application No. 15 / 091,638, filed April 6, 2016, which is hereby incorporated by reference in its entirety. technical field [0003] The present disclosure relates to methods and systems for real-time promotions, eg, applying points in real-time instead of spending cash for transactions. Background technique [0004] Currently, financial institutions can offer loyalty programs to incentivize cardholders to participate in certain purchases. Loyalty programs may include offering rebates or credits for certain types of transactions. For example, when the cardholder uses the corresponding credit card from such as Amazon (Amazon) Credit card issuers may offer cash discounts or equivalent points when purchasing electronic products at certain merchants in . Cardholders can use cash discounts or points for future purchases. [0005] Traditional...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q30/02
CPCG06Q30/0233G06Q30/0234G06Q30/0222G06F16/951G06Q30/0226G06Q30/0239G06Q20/40
Inventor K·P·克拉克
Owner MASTERCARD INT INC