Triggering redemptions

The present invention provides a method and system for triggering a redemption output signal in respect of a selected predetermined redemption event having a target redemption level, redemption events being redeemed as a result of transactions in a merchant community. The method comprises selecting...

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Bibliographische Detailangaben
1. Verfasser: FARHAN DAWOOD
Format: Patent
Sprache:eng
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Beschreibung
Zusammenfassung:The present invention provides a method and system for triggering a redemption output signal in respect of a selected predetermined redemption event having a target redemption level, redemption events being redeemed as a result of transactions in a merchant community. The method comprises selecting the predetermined redemption event from a stored pool of redemption events and associating the selected predetermined redemption event and the target redemption level of the selected predetermined redemption event with a stored beneficiary user account, and initiating a transaction between a merchant and a contributory user having identification data linking the transaction to the selected predetermined redemption event. Transaction data 9 including at least the identification data is then compiled, and a transaction contribution 70 to be applied to a current redemption level of the selected predetermined redemption event is generated to achieve redemption of the selected predetermined redemption event. The transaction contribution is allocated to the current redemption level stored in the beneficiary user account 7 associated with the selected predetermined redemption event and the new current redemption level is compared to the target redemption level of the selected predetermined redemption event. A redemption output signal 4 in respect of the selected predetermined redemption event is triggered when the current redemption level meets or exceeds the target redemption level of the selected predetermined redemption event thus effecting the redemption of the selected predetermined redemption event. The method is particularly useful for independent retailers, who only need to register with the system and communicate the transaction information in some way.