Centralized consumer cash value accumulation system for multiple merchants

Abstract

A centralized system of accumulating cash value for consumers based upon point-of-sale transactions with multiple merchants is disclosed wherein for each transaction, the consumer's account number (such as the Social Security number) which may be different from the consumer's credit card account number, for example, is transmitted to a central system along with data identifying the merchant and a credit value for the transaction. The credit value may be based upon predetermined incentives associated with the transaction such as coupons, rebates or discounts, and/or upon a credit rate determined by the merchant applied to the amount of the transaction. At the central location, a cash value for that consumer is incremented by the credit value and a bill value for that merchant is similarly incremented. Periodically, the merchants are billed for the accumulated bill value or credited for any third party incentive amounts confirmed at the central location. Also, at selected intervals, consumers are given access to their respective accumulated cash values by either a check in that amount or through a funds dispensing electronic terminal access or the like.

What is claimed is: 
     
       1. A method of consumer cash value accumulation based upon point-of-sale transactions.Iadd., each having a purchase amount, .Iaddend.between consumers and merchants, the method comprising: a. at the point-of-sale, obtaining from the consumer an account number unique to the consumer;   b. at a merchant location, determining a credit value for the transaction .Iadd.from a merchant-specific credit rate and the purchase amount.Iaddend.;   c. electronically providing, for each transaction, from the merchant location to a central system the consumer's account number and the credit value;   d. for each transaction, accumulating, at the central system, cash value in a consumer account associated with that consumer's account number by increasing the cash value in that consumer account in relation to the credit value.   
     
     
       2. The method of claim 1, which further comprises selectively providing to a plurality of the consumers access to funds in their respective consumer accounts, such access being based upon the cash value in that consumer account. 
     
     
       3. The method of claim 1, wherein the consumer account number is independent of how the consumer pays for the transaction. 
     
     
       4. The method of claim 1, wherein the step of determining a credit value for the transaction is based upon the amount of the transaction and the applicable credit rate determined by the merchant. 
     
     
       5. The method of claim 1, wherein access to funds is provided by issuing a check in an amount equal to the cash value in that consumer account. 
     
     
       6. The method of claim 1 wherein, for each transaction, merchant data associated with the merchant is electronically transmitted to the central system along with the consumer's account number and the credit value, the method further comprising: for each transaction, accumulating, at the central system, bill value in a merchant   account associated with that merchant's merchant data by increasing the bill value in that merchant's account in relation to the credit value.   
     
     
       7. The method of claim 6 further comprising: generating for each merchant account a bill in an amount based upon the bill value in that merchant account.   
     
     
       8. A centralized consumer cash value system for . .transaction.!. .Iadd.transactions, each having a purchase amount, .Iaddend.between consumers and multiple merchants comprising: at each merchant location at least: consumer data input means at the point-of-sale for inputting an account number;   processor means for determining a credit value for the transaction .Iadd.from a merchant-specific credit rate and the purchase amount.Iaddend.; and   first communication means for electronically transmitting to the central system the consumer's account number and the credit value related to each transaction; and     at a central location a central system having at least: second communication means for electronically receiving the consumer's account number and the credit value related to each transaction; and   consumer account memory means for storing cash values for a plurality of consumer accounts, each consumer account being associated with a respective, unique account number;   processor means for incrementing the cash value in a consumer account associated with a received consumer account number in relation to the received credit value.     
     
     
       9. The system of claim 8, which further comprises unit means for selectively providing to a plurality of consumers access to funds in an amount based upon the cash value in the consumer account associated with that consumer. 
     
     
       10. The system of claim 8, further including, at each merchant location, memory means for storing a credit rate selected by the merchant, transaction data input means for inputting the sale amount of the transaction, said merchant location processor means further responsive to said memory means whereby said credit value is determined in accordance with said credit rate and the amount of the transaction. 
     
     
       11. The system of claim 9, said unit means including a check printer whereby access to funds is by printing a check in the amount of the cash value in that consumer's account. 
     
     
       12. The system of claim 8 wherein the first communication means also electronically transmits and the second communication means also electronically receives, related to each transaction, merchant data associated with the merchant along with the consumer's account number and the credit value, the central system further having: merchant account memory means for storing bill values for a plurality of merchant accounts,   each merchant account being associated with respective merchant data; and   said central system processor means further for incrementing the bill value in a merchant account associated with received merchant data by an amount corresponding to the received credit value.   
     
     
       13. The system of claim 12, the central system further having: means for issuing to each merchant a bill in an amount based upon the bill value in the merchant account associated with that merchant. .Iadd.   
     
     
       14.  A method of consumer cash value accumulation based upon point-of-sale transactions, each having a purchase amount, between consumers and multiple merchants, the method comprising: a. at the point-of-sale, obtaining from the consumer an account number unique to the consumer;   b. determining a merchant-specific credit value for the transaction from a merchant-specific credit rate and the purchase amount;   c. electronically providing, for each transaction, at an electronic processing system the consumer's account number and the credit value; and   d. for each transaction, accumulating, at the electronic processing system, cash value in a consumer account associated with that consumer's account number by increasing the cash value in that consumer account in relation to the credit value. .Iaddend..Iadd.15. The method of claim 14 wherein the credit value is determined by multiplying a merchant-selected credit rate by the purchase amount of the transaction. .Iaddend..Iadd.16. The method of claim 15 wherein the credit value is calculated at the merchant's location and electronically transmitted to the electronic processing system. .Iaddend..Iadd.17. The method of claim 14 further comprising providing a plurality of the consumers selective access to funds in their respective consumer accounts, such access being based upon the cash value   
     
     
        accumulated in each such consumer account. .Iaddend..Iadd.18.  The method of claim 14 wherein the consumer account number is independent of how the consumer pays for the transaction. .Iaddend..Iadd.19. The method of claim 14 further comprising, for each transaction, accumulating, at the electronic processing system, bill value in a merchant account for the merchant associated with the transaction, which bill value is in relation to the credit value for the transaction. .Iaddend..Iadd.20. The method of claim 14 wherein the electronic processing system is a single processor. .Iaddend..Iadd.21. The method of claim 14 wherein the electronic processing system is at a central location. .Iaddend..Iadd.22. A method of consumer cash value accumulation based upon point-of-sale transactions between consumers and multiple merchants, the method comprising: (a) at the point-of-sale, obtaining from the consumer an account number unique to the consumer and generating data representing an amount of purchases during the transaction;   (b) determining, for each merchant, a merchant-selected credit rate;   (c) for each transaction, using (i) the consumer's account number, (ii) the generated data representing the amount of purchases, and (iii) the credit rate, to electronically determine a merchant-specific credit value for the transaction; and   (d) for each transaction, accumulating cash value in a consumer account associated with that consumer's account number by increasing the cash value in that consumer account in relation to the credit value.   
     
     
        .Iaddend..Iadd.23.  The method of claim 22 wherein the credit value is determined by multiplying the merchant-selected credit rate by the amount of purchases during the transaction. .Iaddend..Iadd.24. The method of claim 23 wherein the credit value is electronically transmitted to an electronic processing system. .Iaddend..Iadd.25. The method of claim 24 wherein the electronic processing system is a single processor. .Iaddend..Iadd.26. The method of claim 24 wherein the electronic 
     
     
        processing system is at a central location. .Iaddend..Iadd.27.  The method of claim 22 wherein the credit value is calculated at the merchant's location. .Iaddend..Iadd.28. The method of claim 22 further comprising providing a plurality of the consumers selective access to funds in their respective consumer accounts, such access being based upon the cash value accumulated in each such consumer account. .Iaddend..Iadd.29. The method of claim 22 wherein the consumer account number is independent of how the consumer pays for the transaction. .Iaddend..Iadd.30. The method of claim 22 further comprising, for each transaction, accumulating bill value in a merchant account for the merchant associated with the transaction, which bill value is in relation to the credit value for the transaction. .Iaddend..Iadd.31. An apparatus for consumer cash value accumulation based upon point-of-sale transactions between consumers and multiple merchants comprising: (a) at least one point-of-sale terminal for each merchant, each terminal structured to input a consumer account number and to generate data representing an amount of purchases during the transaction;   (b) a computer having an indexed memory sized and structured to store cash values for a multitude of consumer accounts, each account associated with a respective, unique account number, wherein said computer is coupleable to the point-of-sale terminals through an electronic communications network;   (c) at least one processor that is programmed to calculate, for each transaction, a merchant-specific credit value based on the amount of purchases and a merchant-selected credit rate; and   (d) an accumulator associated with the computer, coupled to the memory and to the processor, and structured to, for each transaction, increase, in relation to the credit value, the cash value in a consumer account associated with the account number inputted at one of the point-of-sale terminals and transmitted through the electronic communications network to the computer. .Iaddend..Iadd.32. The apparatus of claim 31 wherein said at least one processor comprises a plurality of processors, each associated with at least one point-of-sale terminal, and each physically situated at the premises of one of the merchants. .Iaddend..Iadd.33. The apparatus of claim 31 wherein said at least one processor is remote from the computer. .Iaddend..Iadd.34. The apparatus of claim 33 wherein the credit value is transmitted to the accumulator through the electronic communications   
     
     
        network. .Iaddend..Iadd.35.  A method of consumer cash value accumulation based upon point-of-sale transactions, each having a purchase amount, between consumers and merchants, the method comprising: (a) at the point of sale, obtaining from the consumer an account number unique to the consumer;   (b) determining a merchant location, determining a credit value for the transaction from a merchant-specific credit rate and the purchase amount;   (c) electronically providing, for each transaction, from the merchant location to an electronic processing system the consumer's account number and the credit value; and   (d) for each transaction, accumulating, at the electronic processing system, cash value in a consumer account associated with that consumer's account number by increasing the cash value in that consumer account in relation to the credit value. .Iaddend.