Abstract:
A method for converting credits to funds can include a step of a Web site receiving user identification information. Non-negotiable credits can be identified that are associated with an entity with which the user has previously interacted. The previous interactions could have earned the non-negotiable credits. Responsive to a user request, a conversion agency can convert a quantity of the non-negotiable credits into a quantity of negotiable funds. The conversion agency can be an agency not directly associated with the entity. The user can be permitted to access the quantity of negotiable funds. The quantity of negotiable funds can be applied to user specified purchases. At least a portion of the purchases can involve at least one vender that does not honor the non-negotiable credits.

Description:
BACKGROUND 
     1. Field of the Invention 
     The present invention relates to the field of e-commerce and, more particularly, to the automatic conversion of non-negotiable credits associated with entities to negotiable foods independent of the entities. 
     2. Description of the Related Art 
     Entities often reward consumers for utilizing their services with non-negotiable credits, such as frequent flier miles, consumer loyalty points, and entertainment credits. These non-negotiable credits can be applied towards products and/or services provided by a granting entity or its affiliates. For example, consumers can apply frequent flyer credits towards the purchase of airline tickets or airline upgrades. In another example, a consumer can utilize purchase points from a credit card company to receive percentage discounts on goods provided by affiliates. In still another example, entertainment credits can be redeemed for prizes offered in a winnings storefront of an entertainment site. 
     Many problems are inherent to the current techniques for the redemption of entity provided credits. One such problem is the restriction on usage to goods and/or services of the entity. That is, a consumer may have no need for the products or services listed by the entity for which the non-negotiable credits can be redeemed. Further, additional restrictions and limitations can be placed upon the non-negotiable credits that lessen the usefulness of non-negotiable credits from the consumer&#39;s perspective. For instance, airlines often limit the choice of travel dates, known as black-out dates, to which frequent flyer credits can be applied. 
     Another problem encountered by consumers when redeeming non-negotiable credits is time. Once a consumer submits a request to redeem their non-negotiable credits, the consumer must wait for the entity to perform one or more actions required to fulfill their request. These steps often require days or weeks to complete. For instance, consumers participating in online entertainment sites often are required to wait a minimum of three days for their entertainment credits to be redeemed. Redemption delay can be particularly aggravating to e-commerce consumers, who by nature of an e-commerce marketplace expect rapid responses and immediate consumer gratification. 
     Time can also be a factor for redeeming credits having an associated expiration date. A consumer&#39;s non-negotiable credits may expire before a sufficient quantity is acquired for a desired purchase. Lesser purchases requiring fewer credits may not have a significant appeal for the consumer. Hence, credit expiration dates can further decrease the consumer value of non-negotiable credits. 
     Yet another problem with conventional implementation of non-negotiable credits is that consumers often belong to multiple credit-earning programs that provide the consumers with multiple incompatible forms of non-negotiable credit. Each of these multiple programs can span a single industry or can span multiple industries. For example, a consumer can acquire a moderate number of frequent flyer miles with multiple airlines, where each airline specific account contains insufficient credits to have any meaningful consumer value. Consumers can also have many different types of non-negotiable credits, such as multiple merchant specific credit, credit card credits, and frequent flier miles, each having different redemption values and program redemption rules. These different programs, values, and rules can understandably confuse and frustrate consumers, who due to their confusion, often elect to avoid participating in an entity sponsored credit program. 
     SUMMARY OF THE INVENTION 
     The present invention permits consumers to transform non-negotiable credits provided by an entity to negotiable funds in an approximate immediate fashion using the Web. More specifically, a conversion agency can function as an intermediary that converts entity provided credits into entity independent funds. The conversion agency can be an independent entity that is not directly affiliated with the credit providing entities. 
     The conversion can occur automatically using a Web initiated action and can have approximately immediate results. Approximately immediate as used herein can signify that a transaction can occur within a single Web session with user acceptable delay tolerances, typically under half an hour and often under a few minutes. In one embodiment, credits can be automatically converted to funds as part of an e-commerce checkout. In another embodiment, credits can be converted into a user accessible account held with a financial institution. 
     The present invention can be implemented in accordance with numerous aspects consistent with material presented herein. For example, one aspect of the present invention can include a method for converting credits to funds. The method can include a step of a Web site receiving user identification information. Non-negotiable credits can be identified that are associated with an entity with which the user has previously interacted. The previous interactions could have earned the non-negotiable credits. Responsive to a user request, a conversion agency can convert a quantity of the non-negotiable credits into a quantity of negotiable funds. The conversion agency can be an agency not directly associated with the entity. The user can be permitted to access the quantity of negotiable funds. The quantity of negotiable funds can be applied to user specified purchases. At least a portion of the purchases can involve at least one vender that does not honor the non-negotiable credits. 
     Another aspect of the present invention can include a software method for convertins non-negotiable credits into negotiable funds. The method can receive a user request to convert a quantity of non-negotiable credits held in a user account associated with an entity. A conversion rate between the non-negotiable credits available to the user and a form of negotiable funds can be automatically determined. A quantity of non-negotiable credits can be automatically subtracted from the user account. A quantity of the negotiable funds based upon the determined conversion rate and quantity of subtracted funds can be automatically transferred to a financial account. The financial account can be an account that is not associated with the entity. The entire method can occur in an approximately immediate fashion. 
     Still another aspect of the present invention can include a Web-based credit to fund conversion system. The system can include a non-negotiable credit account, a negotiable funds account, and a conversion agency. The non-negotiable credit account can be associated with an entity. Non-negotiable credits contained within the non-negotiable credit account can be earned though previously interactions between a user and the entity. The negotiable funds account can include negotiable funds that the user is able to apply to user specified e-commerce purchases. One or more venders involved in the e-commerce purchases can be venders that do not honor the non-negotiable credits for the e-commerce purchases. The conversion agency can automatically and approximately immediately convert a quantity of credits from the non-negotiable credit account to a quantity of funds in the negotiable funds account responsive to a request from the user. 
     It should be noted that various aspects of the invention can be implemented as a program for controlling computing equipment to implement the functions described herein, or a program for enabling computing equipment to perform processes corresponding to the steps disclosed herein. This program may be provided by storing the program in a magnetic disk, an optical disk, a semiconductor memory, or any other recording medium. The program can also be provided as a digitally encoded signal conveyed via a carrier wave. The described program can be a single program or can be implemented as multiple subprograms, each of which interact within a single computing device or interact in a distributed fashion across a network space. 
     It should also be noted that the methods detailed herein can also be methods performed at least in part by a service agent and/or a machine manipulated by a service agent in response to a service request. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       There are shown in the drawings, embodiments which are presently preferred, it being understood, however, that the invention is not limited to the precise arrangements and instrumentalities shown. 
         FIG. 1  is a schematic diagram of a Web based conversion of non-negotiable credits associated with an entity to entity independent funds system in accordance with an embodiment of the inventive arrangements disclosed herein. 
         FIG. 2  is a schematic diagram of successive GUIs that illustrate the Web based conversion of non-negotiable credits associated with an entity to entity independent funds system in accordance with an embodiment of the inventive arrangements disclosed herein. 
         FIG. 3  is a flow chart of a method for the Web based conversion of non-negotiable credits associated with an entity to entity independent funds system in accordance with an embodiment of the inventive arrangements disclosed herein. 
     
    
    
     DETAILED DESCRIPTION OF THE INVENTION 
       FIG. 1  is a schematic diagram of a Web based conversion of non-negotiable credits associated with an entity to entity independent funds system  100  in accordance with an embodiment of the inventive arrangements disclosed herein. System  100  includes consumer  105  and conversion agency server  130 . 
     Consumer  105  interacts with conversion agency server  130  via client  110 . Client  110  can be any of a variety of interfaces including, but not limited to, another human being, a personal computer, a kiosk, a graphical user interface (GUI), a Web page, a telephone, a personal data assistant (PDA), a mobile phone, and the like. 
     Client  110  can operate in a stand-alone fashion. Alternatively, client  110  can be a device that cooperatively participates in a network of distributed computing devices. Client  110  can also be another human being utilizing an alternate form of Client  110  to access conversion agency server  130  via network  115 . Network  115  can facilitate data exchanges over wireless as well as line-based communication pathways and protocols. 
     Both consumer  105  and conversion agency server  130  can interact with associate server  150 , e-commerce server  120 , and financial institution server  140  via network  115 . Conversion agency server  130  includes user account data store  135  in which consumer  105  is a member. Associate server  150  includes customer data store  155  in which consumer  105  is a member. Financial institution server  140  includes account data store  142 . Account data store  142  includes conversion agency account  144  corresponding to conversion agency  130 . 
     Consumer  105  earns non-negotiable credits from associate server  150 . The quantity of these non-negotiable credits is saved in customer data store  155 . The method in which consumer  105  earns credits can be any of a variety of activities including, but not limited to, making online purchases, making in-store purchases, playing online games, participating in online games of chance, participating in surveys, and the like. Consumer  105  uses conversion agency server  130  to convert the non-negotiable credits from associate server  150  into negotiable funds provided by e-commerce server  120  or financial institution  140 . In one embodiment, conversion agency  130  can include multiple reward accounts of consumer  105 . 
     For example, consumer  105  earns  500  credits from participating in an online game of chance hosted by associate server  150 . Consumer  105  can choose to use conversion agency  130  to convert any or all of these credits to a monetary equivalent. Conversion agency  130  withdraws the necessary amount from conversion agency account  144  contained within the account data store  142  of financial institution  140  and transfers it to an account specified by consumer  105 . In another example, consumer  105  uses conversion agency  130  to complete a purchase at e-commerce server  120 . Again, conversion agency  130  withdraws the necessary amount from conversion agency account  144  contained within the account data store  142  of financial institution  140  and transfers it to the account of e-commerce server  120 . 
     E-commerce server  120  can be any Web site that supports online purchases of goods or services. In one embodiment, e-commerce server  120  can include a distinct payment option for conversion agency  130 . This distinct payment option could process the conversion of credits through their Web site. Alternatively, the distinct payment option could launch an application to process the conversion of credit that is separate from their Web site. In another embodiment, associate server  150  can act as e-commerce server  120 . 
     Financial institution server  140  can be any of a variety of entities including, but not limited to, a bank, a credit card company, an investment firm, and the like. In one embodiment, financial institution server  140  can reside in the same country as consumer  105  and/or associate server  150 . In another embodiment, financial institution server  140  can reside in a country other than that of consumer  105  and/or associate server  150 . 
       FIG. 2  is a schematic diagram of successive GUIs that illustrate the Web based conversion of non-negotiable credits associated with an entity to entity independent funds system  200  in accordance with an embodiment of the inventive arrangements disclosed herein. 
     GUI  210  can be a checkout window from any e-commerce site. GUI  210  includes payment button  215 . Payment button  215  can represent a payment option that includes the conversion of non-negotiable credits to purchase the items in the shopping cart. Selection of payment button  215  by a user can produce GUI  220 . 
     GUI  220  can be a display window from a conversion agency. GUI  220  includes display box  222  and button  225 . GUI  220  can be rendered by any of a variety of means including, but not limited to, a Web browser, a JAVA applet, a PERL script, and the like. In one embodiment, GUI  220  can be contained within the e-commerce site. GUI  220  can display the balance of non-negotiable credits from one or more reward programs. GUI  220  contains a means by which the user selects the type of non-negotiable credits to convert including, but not limited to, a set of radio buttons, a set of checkboxes, a highlighting mechanism, and the like. Display box  222  can display the monetary value of the selected non-negotiable credits. The value displayed in display box  222  can be based on preset conversion factors. Button  225  can represent the initiation of the process by which the selected non-negotiable credits are convened to negotiable funds. Selection of button  225  by a user can produce GUI  230 . 
     GUI  230  can be a display window from a conversion agency. GUI  230  includes yes button  232  and cancel button  233 . GUI  230  can be rendered by any of a variety of means including, but not limited to, a Web browser, a JAVA applet, a PERL script, and the like. In one embodiment, GUI  230  can be contained within the e-commerce site. GUI  230  can display a summary message of the transaction initiated by GUI  220 . GUI  230  can include a means to continue the transaction, yes button  232 , and a means to cancel the transaction, cancel button  233 . Selection of cancel button  233  by a user cancels the transaction and can return the user to GUI  220 . Selection of yes button  232  by a user completes the transaction initiated in GUI  220  and can produce GUI  240 . 
     GUI  240  can be a display window from the same said e-commerce site. GUI  240  can contain a message acknowledging the successful conversion of the user&#39;s non-negotiable credits into negotiable funds for the purchase of the items in the shopping cart. 
       FIG. 3  is a flow chart of a method  300  for the Web based conversion of non-negotiable credits associated with an entity to entity independent funds system in accordance with an embodiment of the inventive arrangements disclosed herein. 
     Method  300  can begin in step  305 , where a consumer logs onto a rewards Web site. In step  310 , the rewards Web site utilizes the user information provided in step  305  to access the consumer&#39;s account information and display the amount of non-negotiable credits in the consumer&#39;s account. The consumer elects to redeem some quantity of non-negotiable credits in step  315 . If supported by the rewards Web site, step  320  can occur in which the consumer can select the form of negotiable funds to convert the non-negotiable credits. In step  325 , a ratio is determined for the conversion of the non-negotiable credits to the selected type of negotiable funds. This ratio can be determined by any of a variety of means including, but not limited to, an algorithm internal to the rewards Web site, an algorithm contained in a system that is remote and/or independent of the rewards Web site, and the like. An electronic commerce transaction is initiated in step  330  to establish the converted amount of negotiable funds in a user account. The quantity of convened non-negotiable credits is subtracted from the user&#39;s account in step  335 . In step  340 , the rewards Web site presents the consumer with an access means for the negotiable funds. Lastly, the consumer terminates the session by logging off the rewards Web site in step  345 . 
     The present invention may be realized in hardware, software, or a combination of hardware and software. The present invention may be realized in a centralized fashion in one computer system or in a distributed fashion where different elements are spread across several interconnected computer systems. Any kind of computer system or other apparatus adapted for carrying out the methods described herein is suited. A typical combination of hardware and software may be a general purpose computer system with a computer program that, when being loaded and executed, controls the computer system such that it carries out the methods described herein. 
     The present invention also may be embedded in a computer program product, which comprises all the features enabling the implementation of the methods described herein, and which when loaded in a computer system is able to carry out these methods. Computer program in the present context means any expression, in any language, code or notation, of a set of instructions intended to cause a system having an information processing capability to perform a particular function either directly or after either or both of the following: a) conversion to another language, code or notation; b) reproduction in a different material form. 
     This invention may be embodied in other forms without departing from the spirit or essential attributes thereof. Accordingly, reference should be made to the following claims, rather than to the foregoing specification, as indicating the scope of the invention.