Method and system for facilitating sharing of reward points

A server system in a payment network, comprising:

• a memory comprising stored instructions;
• and
• a processor configured to execute the stored instructions to cause the server system to perform at least:
• receive information related to a first user, the information comprising one or more social IDs of the first user linked to a payment account associated with the first user, the information received from an issuer associated with the payment account;
• store a mapping of the one or more social IDs of the first user with the payment account associated with the first user in a mapping file;
• receive a request for reward points redemption from the issuer, the request for the reward points redemption initiated by a second user and approved by the first user, the request initiated by the second user in response to an offer to redeem a fixed number of reward points posted by the first user on a social media platform;
• identify a social ID used by the second user to initiate the request for the reward points redemption on the social media platform;
• and
• facilitate transfer of the fixed number of reward points from the first user to the second user in response to the receipt of the request, the transfer of the fixed number of reward points facilitated based on the mapping file and the social ID of the second user.

A computer-implemented method, comprising:

• provisioning, by a payment server, an online interface to facilitate linking of one or more social IDs of a first user to a payment account of the first user;
• facilitating, by the payment server, an authentication of an identity of the first user for each social ID linked to the payment account of the first user;
• storing, by the payment server, a mapping of the one or more social IDs of the first user with the payment account associated with the first user in a mapping file;
• receiving, by the payment server, a request for reward points redemption, the request for the reward points redemption initiated by a second user and approved by the first user, the request initiated by the second user in response to an offer to redeem a fixed number of reward points posted by the first user on a social media platform;
• identifying, by the payment server, a social ID used by the second user to initiate the request for the reward points redemption on the social media platform;
• computing, by the payment server, a price of redeeming the fixed number of reward points, wherein the price is notified to the second user on a contact identifier of the second user associated with the social ID of the second user;
• and
• facilitating, by the payment server, transfer of the fixed number of reward points from the first user to the second user subsequent to a debiting of an amount equivalent to the price of redeeming the fixed number of reward points from a payment account of the second user, the transfer of the fixed number of reward points facilitated based on the mapping file and the social ID of the second user.