Patent ID: 8608061

Claim:
An automated method of operating a rewards program through a financial institution, comprising: enrolling a plurality of customers from a particular customer market segment or category having at least one account with the financial institution in the rewards program, wherein if an account of one of the customers associated with the rewards program meets certain qualifying criteria the one customer receives one or more reward credits in monetary units associated with the account; selecting at least one merchant as a qualifying merchant in the rewards program which provides products or services attractive to customers from the particular customer market segment or category, wherein the financial institution selects to include the merchant as a qualifying merchant in the rewards program independently of the merchant choosing to participate in the rewards program; wherein the method includes a transaction module for: determining if the account qualifies for a reward credit; assigning a reward credit to the account if the account qualifies for a reward credit; receiving purchase information regarding a purchase made at a merchant by the one customer wherein the payment for such purchase is associated with the account; identifying from the purchase information whether the purchase was made at a qualifying merchant for the rewards program; and applying the reward credit towards the purchase made by the one customer at the at least one qualifying merchant by applying the reward credit to the one customer's account based upon business rules applicable to the rewards program.