Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Including point of sale terminal or electronic cash register
Patent
1996-02-15
1999-02-23
Hayes, Gail O.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Including point of sale terminal or electronic cash register
705 14, 705 17, 705 18, G06F 1760
Patent
active
RE0361160
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) which may be different from the consumer's credit card account number, for example, is transmitted to a central system along with data identifying the merchant and a credit value for the transaction. The credit value may be based upon predetermined incentives associated with the transaction such as coupons, rebates or discounts, and/or upon a credit rate determined by the merchant applied to the amount of the transaction. 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 or credited for any third party incentive amounts confirmed at the central location. 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.
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S&H Motivation and Saffer-USA Advertising Inc. Announce New Joint Venture To Develop and Market A Computerized "Frequent Shopper's Program" for Retail Chains., PR Newswire, Mar. 9, 1987.
Hayes Gail O.
Hughet William N.
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