Transaction Frequency Rewards System
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Solution Overview
Problem
Traditional reward systems require customers to physically visit merchants and carry reward trackers, limiting convenience and effectiveness in awarding rewards based on purchase frequency.
Innovation Solution
A computer-based system that determines transaction eligibility for rewards, associates transactions with accounts, monitors transaction frequency over time, and provides rewards based on thresholds, allowing for real-time tracking and administration of loyalty rewards without the need for physical trackers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional reward systems use physical reward trackers (e.g., punch cards), then customers can track their purchases, but convenience is reduced and customers must physically visit merchants
Solution Approach 1:
The patent replaces physical reward trackers (mechanical system) with an automated computer-based system that electronically tracks transactions through networked point-of-sale terminals and payment processors, eliminating the need for physical punch cards and manual customer tracking
Solution Approach 2:
The system enables automatic reward tracking and determination without requiring customer action to physically visit merchants or manually update trackers. The computer-based system automatically monitors transactions, determines eligibility, and awards rewards based on predefined criteria
2Adaptability or versatility
If reward programs require customers to return to particular merchants, then rewards can be tracked, but customer flexibility and convenience are limited
Solution Approach 1:
The patent creates a universal reward system that works across multiple merchants through networked point-of-sale terminals. The computer-based system can track transactions from various merchants and apply different reward programs, making the system adaptable to different merchants and customer preferences while maintaining reliable tracking through centralized electronic monitoring
3Productivity
If manual reward tracking is used, then customers can see their progress, but time is lost and efficiency is reduced
Solution Approach 1:
The patent replaces manual reward tracking with an automated computer-based system that electronically monitors transactions in real-time through networked point-of-sale terminals, automatically calculating reward eligibility and eliminating the time required for manual tracking and administration
Solution Approach 2:
The system provides automatic feedback to customers about their reward progress and eligibility through electronic notifications, eliminating the time customers would spend manually checking their progress on physical trackers and enabling real-time reward administration
Data Source
AI summary
An electronic record related to a first transaction of a user can be received at a point-of-sale device. A user interface with real-time transaction data can be generated and displayed on the user device. An eligibility of the first transaction for a reward program can be determined. A portion of the reward program based on said determined eligibility can be selected and the electronic record of the first transaction can be updated by modifying the real-time transaction data currently displayed within the UI.