Patent ID: 7873574
Filing Date: 2011-01-18
Classification: G06Q

Abstract:
1. A computer-implemented method of executing a product liquidation transaction in conjunction with a reward account stored on a reward server computer, comprising the steps of: a. a user having a reward account stored on a reward server computer associated with a reward account issuer comprising reward points previously awarded by a reward issuing entity to the user as part of a previous transaction, the reward points having i) a par value established by the reward account issuer equivalent to an amount that the reward account issuer will convey upon surrender of said reward points, and ii) a retail value equivalent to an amount that the user will accept for surrender of said reward points, said retail value being substantially higher than said par value; the reward account issuer varying the par value as a function of a rate of redemption of reward points from one or more of a plurality of reward accounts; b. a product provider offering to sell a product at a liquidation price that is substantially less than a reference price otherwise charged for the product; c. the user requesting a transacting entity to facilitate the user in obtaining the product by surrendering at least some of the reward points from the reward account stored on the reward server computer to the reward account issuer, the number of reward points surrendered having a par value that is varied by the reward account issuer as a function of a rate of redemption of reward points from one or more of a plurality of reward accounts and a retail value substantially equal to the reference price; d. requesting the reward account issuer to convey to the transacting entity the par value of the surrendered reward points; e. the transacting entity conveying consideration to the product provider equivalent to the liquidation price of the product; and f. the product provider causing the product to be conveyed to the user; whereby the user receives the product from the product provider as a result of at least surrendering the reward points from the reward account stored on the reward server computer.