US4941090A
Expired / Lapsed
US
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Centralized consumer cash value accumulation system for multiple merchants
Assignee: Individual
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Filing: 1989-01-27
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Granted: 1990-07-10
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Expires: 2009-01-27
Abstract
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) and birthdate are transmitted to a central system along with data identifying the merchant and a credit value determined by the merchant. 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. 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. Preferably, the intervals are selected to correspond to birthdates of the consumers.
Inventors
- 👤 Patrick D. McCarthy
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-23 05:08
CPC Classifications
G; G06; G06Q; G06Q30/00; G06Q30/04; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/20; G06Q30/02; G06Q30/0207; G06Q30/0215; G06Q30/0219; G06Q30/0238; G07; G07G; G07G1/00; G07G1/12; G07G1/14
Claims Analysis
Total Claims: 17
Claim 1
Independent Claim
165 words
A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising: each merchant determining at least one credit rate to be applied to selected purchases from that merchant; at the point-of-sale, obtaining from the consumer an account number unique to the consumer and the consumer's birthdate; at a merchant location, determining a credit value for the transaction based upon the dollar amount of the transaction and the applicable credit rate determined by that merchant; providing to a central system for each transaction, the consumer's account number and birthdate, and the credit value; for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer's account number and birthdate by adding the credit value to the cash value in that consumer account; and selecting at least one birthdate and providing for each consumer account associated with that birthdate access to funds in an amount based upon the cash value in that consumer account.
Claim 2
Independent Claim
165 words
A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and merchants, the method comprising: each merchant determining at least one credit rate to be applied to selected purchases from that merchant; at the point-of-sale, obtaining from the consumer an account number unique to the consumer and the consumer's birthdate; at a merchant location, determining a credit value for the transaction based upon the dollar amount of the transaction and the applicable credit rate determined by that merchant; providing to a central system for each transaction, the consumer's account number and birthdate, and the credit value; for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer's account number and birthdate by adding the credit value to the cash value in that consumer account; and selecting at least one birthdate and providing for each consumer account associated with that birthdate access to funds in an amount based upon the cash value in that consumer account.
Claim 3
Dependent Claim
24 words
The method of claim 1 further comprising: resetting to zero the cash value in each consumer account for which access to funds is provided.
Claim 4
Dependent Claim
27 words
The method of claim 1, wherein access to funds is provided by issuing a check in an amount equal to the cash value in that consumer account.
Claim 5
Dependent Claim
30 words
The method of claim 1 wherein access to funds is provided through a funds dispensing electronic terminal communicating with the central system, and which dispenses the funds when properly accessed.
Claim 6
Dependent Claim
90 words
The method of claim 1 wherein, for each transaction, merchant data associated with the merchant is transmitted to the central system along with the consumer's account number and birthdate and the credit value, the method further comprising: for each transaction, accumulating, at the central system, bill value in a merchant account associated with that merchant's merchant data by adding the credit value to the bill value in that merchant's account; and generating for each merchant account a bill in an amount based upon the bill value in that merchant account.
Claim 7
Dependent Claim
23 words
The method of claim 5 further comprising: resetting to zero the bill value in each merchant account for which a bill is generated.
Claim 8
Dependent Claim
24 words
The method of claim 6 further comprising: resetting to zero the cash value in each consumer account for which access to funds is provided.
Claim 9
Dependent Claim
23 words
The method of claim 1 further comprising: assigning to each consumer a consumer account number which is that consumer's unique Social Security number.
Claim 10
Dependent Claim
232 words
A centralized consumer cash value system for transactions between consumers and multiple merchants comprising: at each merchant location at least: consumer data input means at the point-of-sale for inputting an account number unique to the customer and the consumer's birthdate; transaction data input means for inputting the dollar amount of the point of-sale transaction; memory means for storing a credit rate selected by the merchant; processor means for determining a credit value based upon the dollar amount of the point-of-sale transaction and the selected credit rate; and first communication means for transmitting to the central system the consumer's account number and birthdate, and the credit value related to each transaction; and at a central location, a central system having at least: second communication means for receiving the consumer's account number and birthdate, and the credit value related to each transaction; consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number and one of a plurality of birthdates; processor means for incrementing the cash value in a consumer account associated with a received consumer account number and birthdate by an amount corresponding to the received credit value; and unit means for providing to each consumer having a selected birthdate access to funds in an amount based upon the cash value in the consumer account associated with that consumer.
Claim 11
Dependent Claim
232 words
A centralized consumer cash value system for transactions between consumers and multiple merchants comprising: at each merchant location at least: consumer data input means at the point-of-sale for inputting an account number unique to the customer and the consumer's birthdate; transaction data input means for inputting the dollar amount of the point of-sale transaction; memory means for storing a credit rate selected by the merchant; processor means for determining a credit value based upon the dollar amount of the point-of-sale transaction and the selected credit rate; and first communication means for transmitting to the central system the consumer's account number and birthdate, and the credit value related to each transaction; and at a central location, a central system having at least: second communication means for receiving the consumer's account number and birthdate, and the credit value related to each transaction; consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number and one of a plurality of birthdates; processor means for incrementing the cash value in a consumer account associated with a received consumer account number and birthdate by an amount corresponding to the received credit value; and unit means for providing to each consumer having a selected birthdate access to funds in an amount based upon the cash value in the consumer account associated with that consumer.
Claim 12
Dependent Claim
28 words
The system of claim 9, said processor means including means for resetting to zero the cash value in each consumer account for which access to funds is provided.
Claim 13
Dependent Claim
32 words
The system of claim 9, said unit means including a check printer whereby access to funds is by printing a check in an amount of the cash value in that consumer's account.
Claim 14
Dependent Claim
23 words
The system of claim 9 further comprising at least one funds dispensing electronic terminal communicating with said unit means for dispensing the funds.
Claim 15
Dependent Claim
121 words
The system of claim 9 wherein the first communication means also transmits and the second communication means also receives, related to each transaction, merchant data associated with the merchant along with the consumer's account number and birthdate and the credit value, the central system further having: merchant account memory means for storing bill values for a plurality of merchant accounts, each merchant account being associated with respective merchant data; said processor means further for incrementing the bill value in a merchant account associated with received merchant data by an amount corresponding to the received credit value; and means for issuing to each merchant a bill in an amount based upon the bill value in the merchant account associated with that merchant.
Claim 16
Dependent Claim
26 words
The system of claim 13, said processor means further for resetting to zero the bill value in each merchant account for which a bill is generated.
Claim 17
Dependent Claim
27 words
The system of claim 14, said processor means further for resetting to zero the cash value in each consumer account for which access to funds is provided.
References Cited (Backward Citations)
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1993-07-09 | 1994-01-08 | 1994-07-10 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1997-07-09 | 1998-01-08 | 1998-07-10 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2001-07-09 | 2002-01-08 | 2002-07-10 | $7700.00 | Window Closed / Lapsed |