US6018718A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and system for processing customized reward offers
Assignee: PayPal Inc
•
Filing: 1997-08-28
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Granted: 2000-01-25
•
Expires: 2017-08-28
Abstract
Abstract The present invention is a method is for providing and managing a customized reward offer to a holder of a financial account. The method includes the step of accessing historical account data associated with the financial account. The method further includes the step of determining a first performance target associated with the financial account. The method also includes the steps of selecting a reward offer having an associated reward description and transmitting the first performance target and the reward description to the account holder. The method continues with the steps of collecting transaction data associated with the financial account and evaluating the collected transaction data to determine a second performance target associated with the financial account. The collected transaction data is then compared to said first performance target. If the collected transaction data exceeds the first performance target, the financial account is updated to reflect the reward. A system is also provided to implement the steps of the method.
Inventors
- 👤 Jay S. Walker
- 👤 Sanjay K. Jindal
- 👤 Toby Weir-Jones
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-30 19:21
CPC Classifications
G; G06; G06Q; G06Q30/00; G06Q30/02; G06Q30/0207; G06Q30/0215; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/102; G06Q20/105; G06Q30/0211; G06Q30/0224; G06Q30/0226; G06Q30/0234; G06Q30/04; G06Q40/00; G06Q40/03; G06Q40/12
Claims Analysis
Total Claims: 50
Claim 1
Independent Claim
144 words
A device for providing and managing a customized reward offer to a holder of a financial account, said device comprising: a memory storing: historical account data associated with said financial account; and transaction data associated with said financial account; and a processor operatively connected to said memory, said processor programmed to: access said historical account data; determine a first performance target associated with said financial account; select a reward offer having an associated reward description; collect and evaluate said transaction data to determine a second performance target associated with said financial account; compare said transaction data to said first performance target; and update said financial account to reflect said reward offer based on the step of comparing; and an output device operatively connected to said processor, said output device adapted to transmit said first performance target and said reward description to said account holder.
Claim 2
Independent Claim
144 words
A device for providing and managing a customized reward offer to a holder of a financial account, said device comprising: a memory storing: historical account data associated with said financial account; and transaction data associated with said financial account; and a processor operatively connected to said memory, said processor programmed to: access said historical account data; determine a first performance target associated with said financial account; select a reward offer having an associated reward description; collect and evaluate said transaction data to determine a second performance target associated with said financial account; compare said transaction data to said first performance target; and update said financial account to reflect said reward offer based on the step of comparing; and an output device operatively connected to said processor, said output device adapted to transmit said first performance target and said reward description to said account holder.
Claim 3
Dependent Claim
22 words
The device of claim 1 wherein said processor is further programmed to derive an average outstanding balance based on said historical data.
Claim 4
Dependent Claim
22 words
The device of claim 1 wherein said processor is further programmed to derive an average charge volume based on said historical data.
Claim 5
Dependent Claim
27 words
The device of claim 1 wherein said processor is further programmed to derive an average number of transactions over a predetermined period based on said historical data.
Claim 6
Dependent Claim
23 words
The device of claim 1 wherein said processor is further programmed to derive an account holder behavior score based on said historical data.
Claim 7
Dependent Claim
23 words
The device of claim 1 wherein said processor is further programmed to derive an account holder profitability score based on said historical data.
Claim 8
Dependent Claim
23 words
The device of claim 1 wherein said processor is further programmed to derive an account holder credit score based on said historical data.
Claim 9
Dependent Claim
23 words
The device of claim 1 wherein said processor is further programmed to derive an account holder performance score based on said historical data.
Claim 10
Dependent Claim
21 words
The device of claim 1 wherein said processor is further programmed to periodically transmit said transaction data to said account holder.
Claim 11
Dependent Claim
22 words
The device of claim 1 wherein said processor is further programmed to compare said collected transaction data to said historical account data.
Claim 12
Dependent Claim
21 words
The device of claim 1 wherein said processor is further programmed to compare said collected data to said first performance target.
Claim 13
Dependent Claim
25 words
The device of claim 1 wherein said processor is further programmed to compare said collected data and said historical data to said first performance target.
Claim 14
Dependent Claim
26 words
The device of claim 1 wherein said processor is further programmed to receive preference data generated by said account holder, said preference data representing reward preferences.
Claim 15
Dependent Claim
22 words
The device of claim 13 wherein said processor is further programmed to transmit a menu of reward options to said account holder.
Claim 16
Dependent Claim
18 words
The device of claim 1 wherein said output device is further adapted to print a periodic account statement.
Claim 17
Dependent Claim
21 words
The device of claim 1 wherein said processor is further programmed to update a database electronically accessible by said account holder.
Claim 18
Dependent Claim
16 words
The device of claim 1 wherein said processor is further programmed to modify an interest rate.
Claim 19
Dependent Claim
17 words
The device of claim 1 wherein said processor is further programmed to modify reward program point data.
Claim 20
Dependent Claim
18 words
The device of claim 18 wherein said point data represents frequent flyer miles accumulated by said account holder.
Claim 21
Dependent Claim
18 words
The device of claim 1 wherein said processor is further programmed to modify a minimum periodic payment parameter.
Claim 22
Dependent Claim
15 words
The device of claim 1 wherein said processor is further programmed to process a rebate.
Claim 23
Independent Claim
121 words
A system for providing and managing a customized reward offer to a holder of a financial account, said system comprising: means for accessing historical account data associated with said financial account; means for determining a first performance target associated with said financial account; means for selecting a reward offer having an associated reward description; means for transmitting said first performance target and said reward description to said account holder; means for collecting transaction data associated with said financial account; means for evaluating said collected transaction data to determine a second performance target; means for comparing said collected transaction data to said first performance target; and means for updating said financial account to reflect said reward based on the step of comparing.
Claim 24
Independent Claim
121 words
A system for providing and managing a customized reward offer to a holder of a financial account, said system comprising: means for accessing historical account data associated with said financial account; means for determining a first performance target associated with said financial account; means for selecting a reward offer having an associated reward description; means for transmitting said first performance target and said reward description to said account holder; means for collecting transaction data associated with said financial account; means for evaluating said collected transaction data to determine a second performance target; means for comparing said collected transaction data to said first performance target; and means for updating said financial account to reflect said reward based on the step of comparing.
Claim 25
Dependent Claim
18 words
The system of claim 22 wherein said means for accessing historical account data derives an average outstanding balance.
Claim 26
Dependent Claim
18 words
The system of claim 22 wherein said means for accessing historical account data derives an average charge volume.
Claim 27
Dependent Claim
23 words
The system of claim 22 wherein said means for accessing historical account data derives an average number of transactions over a predetermined period.
Claim 28
Dependent Claim
19 words
The system of claim 22 wherein the means for accessing historical account data derives an account holder behavior score.
Claim 29
Dependent Claim
19 words
The system of claim 22 wherein the means for accessing historical account data derives an account holder profitability score.
Claim 30
Dependent Claim
19 words
The system of claim 22 wherein the means for accessing historical account data derives an account holder credit score.
Claim 31
Dependent Claim
19 words
The system of claim 22 wherein the means for accessing historical account data derives an account holder performance score.
Claim 32
Dependent Claim
25 words
The system of claim 22 wherein the means for selecting includes receiving preference data generated by said account holder, said preference data representing reward preferences.
Claim 33
Dependent Claim
21 words
The system of claim 30 wherein the means for selecting includes transmitting a menu of reward options to said account holder.
Claim 34
Dependent Claim
16 words
The system of claim 22 wherein the means for transmitting includes printing a periodic account statement.
Claim 35
Dependent Claim
20 words
The system of claim 22 wherein the means for transmitting includes updating a database electronically accessible by said account holder.
Claim 36
Dependent Claim
20 words
The system of claim 22 wherein the means for collecting includes periodically transmitting said transaction data to said account holder.
Claim 37
Dependent Claim
21 words
The system of claim 22 wherein the means for evaluating includes comparing said collected transaction data to said historical account data.
Claim 38
Dependent Claim
20 words
The system of claim 22 wherein the means for evaluating includes comparing said collected data to said first performance target.
Claim 39
Dependent Claim
24 words
The system of claim 22 wherein the means for evaluating includes comparing said collected data and said historical data to said first performance target.
Claim 40
Dependent Claim
20 words
The system of claim 22 further comprising the means for comparing said collected transaction data to said first performance target.
Claim 41
Dependent Claim
24 words
The system of claim 22 further comprising the means for updating said financial account to reflect said reward based on the means for comparing.
Claim 42
Dependent Claim
15 words
The system of claim 22 wherein the means for updating includes modifying an interest rate.
Claim 43
Dependent Claim
16 words
The system of claim 22 wherein the means for updating includes modifying reward program point data.
Claim 44
Dependent Claim
18 words
The system of claim 41 wherein said point data represents frequent flyer miles accumulated by said account holder.
Claim 45
Dependent Claim
17 words
The system of claim 22 wherein the means for updating includes modifying a minimum periodic payment parameter.
Claim 46
Dependent Claim
14 words
The system of claim 22 wherein the means for updating includes processing a rebate.
Claim 47
Independent Claim
121 words
A device for providing and managing a customized reward offer associated with a credit card account, said device comprising: a memory storing: historical account data associated with said credit card account; and transaction data associated with said credit card account; and a processor operatively connected to said memory, said processor programmed to: access historical account data; determine a first performance target associated with said credit card account; collect transaction data associated with said credit card account; and evaluate said collected transaction data to determine a second performance target associated with said credit card account; and an output device operatively connected to said processor, said output device adapted to transmit said first performance target and said reward description to said account holder.
Claim 48
Independent Claim
121 words
A device for providing and managing a customized reward offer associated with a credit card account, said device comprising: a memory storing: historical account data associated with said credit card account; and transaction data associated with said credit card account; and a processor operatively connected to said memory, said processor programmed to: access historical account data; determine a first performance target associated with said credit card account; collect transaction data associated with said credit card account; and evaluate said collected transaction data to determine a second performance target associated with said credit card account; and an output device operatively connected to said processor, said output device adapted to transmit said first performance target and said reward description to said account holder.
Claim 49
Dependent Claim
83 words
A computer-readable storage medium encoded with processing instructions for implementing a method for providing a customized reward offer with a credit card account, said processing instructions for directing a computer to perform the steps of: accessing historical account data associated with said credit card account; determining a first performance target associated with said credit card account; collecting transaction data associated with said credit card account; and evaluating said collected transaction data to determine a second performance target associated with said credit card account.
Claim 50
Dependent Claim
83 words
A computer-readable storage medium encoded with processing instructions for implementing a method for providing a customized reward offer with a credit card account, said processing instructions for directing a computer to perform the steps of: accessing historical account data associated with said credit card account; determining a first performance target associated with said credit card account; collecting transaction data associated with said credit card account; and evaluating said collected transaction data to determine a second performance target associated with said credit card account.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2003-01-24 | 2003-07-26 | 2004-01-25 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2007-01-24 | 2007-07-26 | 2008-01-25 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2011-01-24 | 2011-07-26 | 2012-01-25 | $7700.00 | Window Closed / Lapsed |