System and method for exchanging loyalty points for acquisitions
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United States of America Patent
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Nov 9, 2010
Issued Date -
N/A
app pub date -
Sep 27, 2007
filing date -
May 28, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
Systems and methods are provided for facilitating an acquisition from a merchant, whereby payment for the acquisition is made at least partially through automated redemption of loyalty points from a loyalty account. In particular, information is received at a loyalty point exchange system from the merchant. The information may include loyalty data indicating that the acquisition was paid for using a transaction card account that is to be reimbursed using loyalty points from the loyalty account. The loyalty account is debited by an amount equal to a currency value of the acquisition and the transaction card account is credited the amount charged for the acquisition. Loyalty points may, alternatively, be used to directly pay for purchases without the steps of charging and crediting a transaction card.
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