Merchandising Card Reminder System Using Location Data
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Solution Overview
Problem
Customers struggle to efficiently manage their merchandising cards, leading to underutilization of gift cards and loyalty programs, resulting in missed rewards and benefits for both customers and merchants.
Innovation Solution
A system and method for managing merchandising card reminders, which uses a mobile device to acquire device locations, calculate a merchant confidence rating, and send notifications to users when they are near associated merchant locations, thereby reminding them to use their merchandising cards.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If customers use multiple mobile applications to track merchandising cards, then they can access card information, but the complexity of managing multiple applications increases and customers rarely use these applications when visiting merchants
Solution Approach 1:
The patent combines multiple merchandising card management functions into a single integrated system. The financial service provider's system aggregates data from multiple merchants and card types into one unified platform, eliminating the need for customers to install and manage separate applications for each merchant or card program. This consolidation maintains comprehensive card information accessibility while significantly reducing the complexity of managing multiple applications.
Solution Approach 2:
The system provides universal access to multiple merchandising cards through a single interface. The financial service provider's platform serves multiple functions including tracking gift cards, loyalty cards, and other merchandising cards from different merchants, allowing customers to access all card information through one universal system rather than requiring separate specialized applications for each card type.
2Quantity of substance
If customers have merchandising cards with nonzero balances, then they possess unused value, but customers miss out on rewards points and fail to redeem benefits before expiration
Solution Approach 1:
The system performs preliminary actions by proactively notifying customers before expiration dates and reward deadlines. The financial service provider's system monitors card expiration dates and reward redemption deadlines, then sends advance notifications to customers reminding them of upcoming deadlines. This preliminary warning system gives customers head start time to redeem rewards and use card balances before expiration, preventing value loss.
Solution Approach 2:
The system implements continuous feedback mechanisms through automated notifications that inform customers of their card balances, upcoming expiration dates, and available rewards. The financial service provider's platform provides regular status updates and expiration warnings, creating a feedback loop that keeps customers informed about their card values and deadlines, thereby reducing forgotten expirations and unredeemed rewards.
3Productivity
If merchants provide merchandising cards to customers, then they can encourage spending, but merchants do not receive full marketing and financial benefits from high utilization
Solution Approach 1:
The system provides feedback to merchants about card utilization patterns and customer behavior. The financial service provider's platform analyzes transaction data and sends reports to merchants showing how their merchandising cards are being used, which cards have highest utilization, and what marketing benefits are being generated. This feedback enables merchants to optimize their card programs and maximize the marketing and financial returns from their merchandising card initiatives.
Data Source
AI summary
The disclosed embodiments provide systems, methods, and techniques for managing merchandising cards. A merchandising card may be, for example, a gift card, loyalty card, or the like. Consistent disclosed embodiments, a system for managing merchandising cards may include one or more memory devices storing instructions and one or more processors configured to acquire, from a device over a network, a plurality of locations associated with the device, the device locations being acquired at different instances in time within a predetermined period of time. Additionally, the one or more processors may be configured to calculate an overall merchant confidence rating for a merchant using the device locations. Further, the one or more processors may be configured to, based on the overall merchant confidence rating, determine that the merchant matches a merchant that is associated with merchandising card, and send a reminder a user of the device.