System and method of administering a loyalty-based incentive rewards program

A computer-readable storage medium having computer-executable instructions stored thereon, which when executed by a computer, cause the computer to:

• maintain, by a computer, for a customer, a plurality of business-specific loyalty accounts via a single customer account, the plurality of business-specific loyalty accounts comprising
• i) a first business-specific loyalty account including transaction history corresponding to transactions made by the customer at a first business and a first incentive acquisition history corresponding to incentives acquired by the customer for redemption only at the first business;
• and
• ii) a second business-specific loyalty account including transaction history corresponding to transactions made by the customer at a second business and a second incentive acquisition history corresponding to incentives acquired by the customer for redemption only at the second business;
• determine whether the customer is eligible for a loyalty-based incentive based on the transaction history of the customer with the first business;
• upon determining that the customer is eligible for the loyalty-based incentive, determine, via the computer, a redemption value of the incentive for which the customer is eligible based only on the transaction history and the first incentive acquisition history corresponding to the first business, wherein the transaction history comprises a total amount of money spent at the first business and the first incentive acquisition history comprises a total amount of incentives corresponding to the first business that were previously acquired by the customer;
• receive, from the customer, consideration in exchange for the loyalty-based incentive;
• and upon receiving consideration from the customer, provide, to the customer, the loyalty-based incentive redeemable only at the first business.

A method for implementing a multi-business loyalty-based incentive rewards program to increase customer retention rates at participating businesses by incentivizing customers of a particular participating business to return to the same participating business by providing a business-specific loyalty-based incentive that can only be redeemed at the same particular participating business, the method comprising:

• maintaining, by an incentive rewards system executing on one or more computing devices, for a first user, a plurality of business-specific loyalty accounts via a single user account, the plurality of business-specific loyalty accounts comprising
• i) a first business-specific loyalty account including purchase history corresponding to purchases made by the first user at a first business and a first incentive acquisition history corresponding to incentives acquired by the first user for redemption only at the first business;
• and
• ii) a second business-specific loyalty account including purchase history corresponding to purchases made by the first user at a second business and a second incentive acquisition history corresponding to incentives acquired by the first user for redemption only at the second business;
• determining, by the incentive rewards system executing on the one or more computing devices, a redemption value of the first business-specific incentive and a monetary price corresponding to the redemption value of the first business-specific incentive based only on the purchase history and the first incentive acquisition history corresponding to the first business, wherein the purchase history comprises a total amount of money spent at the first business and the first incentive acquisition history comprises a total amount of incentives corresponding to the first business that were previously acquired by the customer;
• and
• providing, to the first user, the first business-specific incentive that is redeemable only at the first business in response to receiving the monetary price from the first user.

A system for implementing a multi-business loyalty-based incentive rewards program to increase customer retention rates at participating businesses by incentivizing customers of a particular participating business to return to the same participating business by providing a business-specific loyalty-based incentive that can only be redeemed at the same particular participating business, comprising:

• an incentive rewards system executing on one or more computing devices, the incentive rewards system configured to
• maintain, for a first user, a plurality of business-specific loyalty accounts via a single user account, the plurality of business-specific loyalty accounts comprising
• i) a first business-specific loyalty account including purchase history corresponding to purchases made by the first user at a first business and a first incentive acquisition history corresponding to incentives acquired by the first user for redemption only at the first business;
• and
• ii) a second business-specific loyalty account including purchase history corresponding to purchases made by the first user at a second business and a second incentive acquisition history corresponding to incentives acquired by the first user for redemption only at the second business;
• wherein the incentive rewards system
• determines a redemption value of the first business-specific incentive and a monetary price corresponding to the redemption value of the first business-specific incentive based only on the purchase history and the first incentive acquisition history corresponding to the first business, wherein the purchase history comprises a total amount of money spent at the first business and the first incentive acquisition history comprises a total amount of incentives corresponding to the first business that were previously acquired by the customer;
• and
• provides, to the first user, the first business-specific incentive that is redeemable only at the first business in response to receiving the monetary price from the first user.