US 4,941,090 A · Centralized consumer cash value accumulation system for multiple merchants

Abstract

A centralized system of accumulating cash value for consumers based upon point-of-sale transactions with multiple merchants is disclosed wherein for each transaction, the consumer's account number (such as the Social Security number) and birthdate are transmitted to a central system along with data identifying the merchant and a credit value determined by the merchant. At the central location, a cash value for that consumer is incremented by the credit value and a bill value for that merchant is similarly incremented. Periodically, the merchants are billed for the accumulated bill value. Also, at selected intervals, consumers are given access to their respective accumulated cash values by either a check in that amount or through a funds dispensing electronic terminal access or the like. Preferably, the intervals are selected to correspond to birthdates of the consumers.

Claims15

Dependent claims

A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising:

each merchant determining at least one credit rate to be applied to selected purchases from that merchant;
at the point-of-sale, obtaining from the consumer an account number unique to the consumer and the consumer's birthdate;
at a merchant location, determining a credit value for the transaction based upon the dollar amount of the transaction and the applicable credit rate determined by that merchant;
providing to a central system for each transaction, the consumer's account number and birthdate, and the credit value;
for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer's account number and birthdate by adding the credit value to the cash value in that consumer account;
and
selecting at least one birthdate and providing for each consumer account associated with that birthdate access to funds in an amount based upon the cash value in that consumer account.

4 more elements

A centralized consumer cash value system for transactions between consumers and multiple merchants comprising:

at each merchant location at least:
consumer data input means at the point-of-sale for inputting an account number unique to the customer and the consumer's birthdate;
transaction data input means for inputting the dollar amount of the point of-sale transaction;
memory means for storing a credit rate selected by the merchant;
processor means for determining a credit value based upon the dollar amount of the point-of-sale transaction and the selected credit rate;
and
first communication means for transmitting to the central system the consumer's account number and birthdate, and the credit value related to each transaction;
and
at a central location, a central system having at least:
second communication means for receiving the consumer's account number and birthdate, and the credit value related to each transaction;
consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number and one of a plurality of birthdates;
processor means for incrementing the cash value in a consumer account associated with a received consumer account number and birthdate by an amount corresponding to the received credit value;
and
unit means for providing to each consumer having a selected birthdate access to funds in an amount based upon the cash value in the consumer account associated with that consumer.

11 more elements

Dependencies are inferred from the claim text.

Centralized consumer cash value accumulation system for multiple merchants

Life of this patent

Centralized consumer cash value accumulation system for multiple merchants

Life of this patent

Abstract

Claims15