Reward point transfers using blockchain

A computer-based system for transferring reward points, comprising:

• a processor;
• and
• a non-transitory memory configured to communicate with the processor, the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause a blockchain network to:
• receive an encrypted rewards transfer message from a credit card transaction account issuer system, wherein a rewards transfer message is encrypted using a public key associated with a second reward loyalty program and a private key associated with a transaction network to form the encrypted rewards transfer message, wherein the encrypted rewards transfer message is capable of being decrypted using a private key of the second reward loyalty program and a public key associated with the transaction network;
• append the public key associated with the second reward loyalty program to the encrypted rewards transfer message;
• write the encrypted rewards transfer message to the blockchain network;
• initiate, in response to the encrypted rewards transfer message being written to the blockchain network, a transfer of reward points from a first reward loyalty program of a user to the second reward loyalty program of the user over the transaction network, wherein the transferred reward points are subject to being paid back to the first reward loyalty program from the second reward loyalty program;
• and
• generate a rewards transfer response message comprising a transfer status, wherein the transfer status indicates a status of the transfer of reward points as being either transfer completed, transfer failed, or transfer pending.

A non-transitory computer readable storage medium having instructions stored thereon that, in response to execution by a processor of a blockchain node in a blockchain network, cause the blockchain node to:

• receive an encrypted rewards transfer message from a credit card transaction account issuer system, wherein a rewards transfer message is encrypted using a public key associated with a second reward loyalty program and a private key associated with a transaction network to form the encrypted rewards transfer message, wherein the encrypted rewards transfer message is capable of being decrypted using a private key of the second reward loyalty program and a public key associated with the transaction network;
• append the public key associated with the second reward loyalty program to the encrypted rewards transfer message;
• write the encrypted rewards transfer message to the blockchain network;
• initiate, in response to the encrypted rewards transfer message being written to the blockchain network, a transfer of reward points from a first reward loyalty program of a user to the second reward loyalty program of the user over the transaction network, wherein the transferred reward points are subject to being paid back to the first reward loyalty program from the second reward loyalty program;
• and
• generate a rewards transfer response message comprising a transfer status, wherein the transfer status indicates a status of the transfer of reward points as being either transfer completed, transfer failed, or transfer pending.