METHOD AND SYSTEM FOR REDEEMING REWARDS IN PAYMENT OF A TRANSACTION ACCOUNT
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United States of America Patent
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N/A
Issued Date -
May 24, 2012
app pub date -
Nov 18, 2010
filing date -
Nov 18, 2010
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A transaction aggregator aggregates a plurality of transaction account charges for a user transaction account. The transaction charges are received from merchants for acquisitions made by a user. The user is offered an option to make at least a partial payment to the user transaction account by redeeming rewards from at least one user reward account associated with a rewards issuer. A reward redemption instruction is received from the user, the reward redemption instruction designating the redemption of rewards from at least one user reward account. The user reward account(s) designated by the user is caused to redeem the rewards by decreasing the rewards in the user reward account and conveying corresponding consideration to the transaction aggregator. A credit is provided on the user transaction account for an amount corresponding to the value of the rewards decreased in the user reward account(s).
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