Exchange of non-negotiable credits of an entity's rewards program for entity independent funds
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United States of America Patent
Stats
-
Nov 20, 2012
Grant Date -
N/A
app pub date -
Jun 25, 2012
filing date -
May 25, 2006
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
In one embodiment, a rewards program for credit cards (e.g., payment artifacts) can be established. Non-negotiable credits are accrued in response to one of the payment artifacts being used for purchases of goods or services with venders. Restrictions on use prevent the non-negotiable credits from being directly applied for a purchase of at least one goods or services of a commerce partner, which is an independent entity from the entity. A quantity of the non-negotiable credits are subtracted in response to the purchase of the goods or services that cost a quantity of entity independent funds, which result from a conversion of the subtracted quantity of non-negotiable credits into the entity independent funds in accordance with a credit to fund conversion ratio. The entity provides compensation for the subtracted quantity of the non-negotiable credits. The commerce partner receives at least a portion of the compensation.
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