Patent ID: 8046256
Filing Date: 2011-10-25
Classification: G06Q

Abstract:
1. A data processing method, comprising: receiving, by a computer for converting at least a portion of loyalty points stored in a loyalty account of a participant, a payment authorization request related to an available credit for a full purchase amount of a first transaction, wherein said payment authorization request includes a merchant identifier associated with a first merchant, and wherein said loyalty account is associated with said participant within a loyalty program database system; approving, by said computer, said payment authorization request for any of said full purchase amount up to said available credit associated with a transaction account code such that said first transaction is completed; increasing, by said computer, a balance of loyalty points associated with said transaction account code to obtain an increased balance of loyalty points, subsequent to said approving said payment authorization request, and based upon loyalty program rules for earning loyalty points; providing, by said computer and over a web interface, a webpage disclosing said first transaction and said full purchase amount in a first section of said webpage, and a balance of loyalty points in a second section of said webpage, along with a device within said webpage for enabling application of a currency value of at least a portion of said loyalty points to said full purchase amount in a previously executed charge, wherein said previously executed charge is provided to said participant in an online billing statement; receiving, by said computer and through said webpage, a selection from said participant to apply said loyalty points as a monetary value to said first transaction on a statement including a plurality of transactions; displaying, by said computer and through said webpage, a fillable form to provide transaction information in response to said selection from said participant to apply said loyalty points as said monetary value, and subsequent to said completion of said first transaction; receiving, by said computer and from said participant using said device, a merchant name in said fillable form, subsequent to said completion of said first transaction; receiving, by said computer and from said participant using said device, a transaction account type in said fillable form, subsequent to said completion of said first transaction; receiving, by said computer and from said participant using said device, a transaction amount level in said fillable form, subsequent to said completion of said first transaction; identifying, by said computer, said first transaction based on said merchant name, said transaction account type, and said transaction amount level, subsequent to said completion of said first transaction; retrieving, by said computer, information from said loyalty program database, including an amount of at least a portion of said loyalty points accumulated by said participant; performing, by said computer, an analysis of said first transaction identified in said fillable form to determine a conversion ratio based on said merchant identifier, and said transaction account type; presenting, by said computer, said participant with a first request to approve said conversion ratio subsequent to determining said conversion ratio; receiving, by said computer, an indicator of at least one of: an approval and disapproval of said conversion ratio from said participant; cancelling, by said computer, said conversion ratio in response to said indicator being a disapproval of said conversion ratio; receiving a second request, by said computer over a web interface and based on said approval of said conversion ratio, from said participant to convert said loyalty points already existing in said loyalty program database to said currency value using said conversion ratio; retrieving, by said computer in real time, said loyalty points from said loyalty program database system, wherein said loyalty points include points from a second merchant in response to receiving said second request; converting, by said computer in real time, said amount of said loyalty points to said currency value using a computerized conversion processor in response to receiving said approval, wherein said conversion is based on said conversion ratio; applying, by said computer in real time, said currency value as a credit for said first transaction of a financial account of said participant, wherein said financial account is stored on a second database system, wherein an indicator of said credit is associated with said first transaction and comprises said merchant name; offsetting, by said computer over said web interface and in real time, said previously executed charge with said currency value; and, increasing, by said computer and in real time, said available credit based upon said offset of said previously executed charge.