System and method for funding a collective account by use of an electronic tag

Abstract

A system and method for funding a collective account via aggregating usage of electronic tags is disclosed. The system and method promotes the use of electronic tags, and the funding of collective accounts that may be associated with charitable or other philanthropic causes. Further benefits may be realized by replenishing the prefunded account that serves as the source of funds for the electronic tag to an affinity account that also benefits the charitable or other philanthropic cause.

Claims

1. A method for attributing a reward to an individual account and a collective account, comprising: Associating a RFID tag with an individual account, wherein the individual account and the RFID tag are both associated with the tagholder and a financial institution, wherein further the financial institution comprises one or more host computers; aggregating RFID tag usage and calculating, by at least one computer processor, on a first periodic basis, a first reward, independent of at least one of a spending commitment and an obligation to an account provider, and the first reward is proportionally based, at least in part, on aggregate RFID tag usage, wherein aggregate tag usage comprises aggregate purchase amounts for purchases of at least one of goods or services from a plurality of merchants when the tag is presented to the merchant at time of purchase; calculating, by the at least one computer processor, on a second periodic basis, a second reward, independent of at least one of a spending commitment and an obligation to an account provider, and the second reward is proportionally based, at least in part, on the aggregate tag usage; aggregating individual account usage and calculating, by the at least one computer processor, on a third periodic basis, a third reward, independent of at least one of a spending commitment and an obligation to an account provider, and the third reward is proportionally based, at least in part, on individual account usage, wherein individual account usage comprises aggregate purchase amounts for purchases made using the individual account as a source for payment; attributing the first reward and the third reward to the individual account; attributing the second reward to a collective account associated with at least one organization, wherein the at least one organization comprises at least one of a business organization, a trade organization, a political party, a religious organization, an athletic organization, a professional society, an educational organization, a charitable organization, a fund-raising organization, or a governmental organization, or combinations thereof; and distributing the first reward and the third reward to the tagholder from the financial institution, wherein the RFID tag is branded with a symbol, name, or colors, or combinations thereof, generally associated with the at least one organization; and wherein further the first, second, and third periodic bases are the same periodic bases.

2. The method of claim 1, wherein the RFID tag comprises a sound generating device.

3. The method of claim 2, wherein the sound generating device generates a programmed sound generally associated with the organization.

4. The method of claim 1, wherein one or both of the first and second rewards comprise cash, airline miles, reward points, services, goods, rebates, up front payment, statement credit, discounts or combinations thereof.

5. The method of claim 1, wherein the tagholder selects the organization.

6. The method of claim 1, wherein the RFID tag comprises an LED controllable via the tagholder.

7. The method of claim 1, wherein the RFID tag comprises an LCD controllable via the tagholder.

8. The method of claim 1, wherein the RFID tag comprises at least one communication port allowing the tag to communicate with other devices.

9. The method of claim 1, wherein the RFID tag comprises a microprocessor.

10. The method of claim 1, wherein the RFID tag comprises a transmitter.

11. The method of claim 1, wherein the RFID tag further comprises at least one of a smart card, a plastic card, a bar coded sticker, a transponder readable by a reader/antenna, or combinations thereof.

12. The method of claim 11, wherein the RFID tag operates in half duplex mode.

13. The method of claim 11, wherein the RFID tag operates in full duplex mode.

14. The method of claim 1, wherein the second reward is calculated based at least in part on RFID tag usage.

15. The method of claim 1, wherein the individual account comprises a credit account, a debit account, a stored value account or a rewards account.

16. The method of claim 15, further comprising attributing the first reward to the individual account substantially upon usage of the RFID tag for the purchase of at least one of goods or services.

17. The method of claim 1, wherein the first, second and third periodic bases comprise a daily, a weekly, a monthly, a bimonthly, a quarterly, a biannual or an annual periodic basis.

18. (canceled)

19. (canceled)

20. (canceled)

Description

BRIEF DESCRIPTION OF THE DRAWINGS

[0024] The invention will be described with reference to the accompanying drawings, in which like elements are referenced with like numerals.

[0025] FIG. 1 is a schematic of one embodiment of the invention illustrating a plurality of tags each associated with an individual account, a prefunded account, and a collective account.

[0026] FIG. 2 is a flowscheme of one embodiment of the invention.

[0027] FIG. 3 is a flowscheme of an alternative embodiment of the invention

[0028] FIG. 4 is a schematic of a computer-based system for funding a collective account.

DETAILED DESCRIPTION OF THE INVENTION

[0029] The invention relates generally to a method and system for funding a collective account through the use of electronic tags, or through profits made off the “float” of the prefunded accounts associated with those tags. One embodiment of the invention may comprise associating each of a plurality of tags to a prefunded account and a collective account, or alternatively associating the prefunded account directly to the collective account. The invention further comprises aggregating tag usage for all associated tags in the collective account. Charges made using the tag may be debited from the prefunded account. A reward may be calculated based on the aggregate tag usage for all tags associated with the collective account and the reward credited to the collective account, thus providing an incentive for tagholders to increase their use of ETC systems. The above steps can be accomplished in real time or on a periodic basis. The funds in the collective account may be used for a variety of purposes as, for example, funding of business, trade, athletic, professional, fund-raising, charitable, religious, political governmental or educational institutions. Individual tagholders may be members of the organization that is the holder of the collective account.

[0030] According to another embodiment of the invention, the reward to the collective account may be calculated based on the aggregate prefunded account balances for all prefunded accounts associated with the collective account, thus providing an incentive for tagholders to increase the “float” amounts kept in their prefunded accounts.

[0031] In another embodiment of the invention, the system operator may establish a number of collective accounts and designate each collective account for a particular purpose as an environmental purpose, charitable purpose, etc. Tagholders may associate all or a portion of their prefunded accounts and/or tag usage to one or more collective accounts. In this embodiment, it is not necessary that tagholders be members of any organization that is the holder of the collective account, and a single tagholder may associate his or her prefunded account and/or tag usage in percentages to multiple collective accounts.

[0032] Tagholders may be issued periodic reporting statements detailing the contributions made in relation to the association of their prefunded accounts and/or tags to collective accounts.

[0033] Another embodiment of the invention relates to a computer-based system for funding a collective account, wherein a tag is associated with prefunded and collective accounts. The system may include a host computer capable of programmed response and software capable of monitoring individual tag usage or prefunded account balances, aggregating tag usage or prefunded account balances, and calculating a bonus based on the aggregate tag usage or prefunded account balances of all prefunded accounts associated with a particular collective account. The computer may perform other functions as generating statements of the prefunded accounts to the tagholders and statements of the collective account to the holder of the collective account, and may also be capable of automatically initiating a funds transfer from an individual account associated with the tag and/or prefunded account to replenish the prefunded account based upon predetermined conditions, such as low prefunded account balance. In addition, a plurality of remote computers may be networked or otherwise capable of communicating with the host computer, where the remote computers are associated with reader/antennas at tollbooths or other sites where a tag may be used to purchase a good or service. The reader/antennas may be capable of detecting tag identification information and transmitting the tag identification information along with the charge to the remote computers, which can then transmit the information to the host computer to charge the associated prefunded account for that tag. Alternatively, remote computers may access the host computer for tag identification information, and identify the prefunded account before transmission of the charge information to the host computer.

[0034] In another embodiment of the invention, the tag and prefunded account may be associated with an individual account used as a source of funds to replenish the prefunded account based on fulfillment of predetermined conditions, as for example a predetermined low balance amount in the prefunded account. The individual account may be an affinity account, where an organization receives a benefit from use of the individual account. If the affinity organization is also the holder of the collective account, that organization can realize a double benefit from a tagholder's use of the tag—both from the affinity program when the individual account is used to fund the prefunded account, and again when the reward is calculated and awarded based on tag usage. In other embodiments, the individual account may be associated with a loyalty program, where benefits accrue directly to the tagholder upon use of the individual account. In this scenario, increased tag usage benefits the holder of the collective account, and also causes increased needs to replenish the prefunded account, which then benefits the tagholder directly by increased loyalty program credits.

[0035] The presence of an LED and/or LCD readout in the tag allows the user to view such information as remaining balance in his or her prefunded account or to receive and/or view messages transmitted from the reader/antenna. The tag may also have the ability to generate a sound that indicates a successful detection by the reader/antenna or a low prefunded account balance which might be a theme song associated with the holder of the collective account, as for example the fight song of a selected university. The tag may have a communication port to allow it to communicate with other devices, as for example relaying traffic information received from the reader/antenna to a device capable of reading and mapping out the relayed information within a vehicle or some remote or hard wired device. The tag may further comprise a microprocessor and/or a transmitter. The tag may comprise a smart card, a bar coded sticker, a transponder readable by a reader/antenna or combinations thereof. The tag may operate in half duplex or full duplex mode.

[0036] The holder of the collective account can be an organization comprising a plurality of members. However, the tagholders are not necessarily members of the holder of the collective account, as the tagholders may designate different causes to receive the reward. The collective account may also comprise one or more sub-accounts, where each sub-account is designated for a different purpose.

[0037] The reward may be calculated in a number of ways. For example, the reward may be based on aggregate tag usage or aggregate “float” of the prefunded account balances associated with the collective account calculated over some period of time. Alternatively, the reward may be customized by basing it on a comparison of aggregate tag usage or aggregate “float” of the prefunded account balances during a given period to historic performance, where increased performance in the given period results in a proportionately greater reward. Alternatively, a minimum performance standard may be set to achieve any reward to be credited to the collective account.

[0038] In another embodiment, aggregate tag usage may be determined by aggregating purchase amounts for purchases of at least one of goods or services from a plurality of merchants when the tag is presented to the merchant at time of purchase. One or more rewards may be calculated based at least in part on aggregate tag usage for a first periodic basis. Rewards may be attributed to the underlying account. In another embodiment, one or more rewards may be calculated based at least in part on underlying account usage and attributed to the underlying account on a second periodic basis. In another embodiment, aggregate tag usage and a reward may be calculated that is based at least in part on aggregate tag and/or underlying account usage on a third periodic basis that is attributed to a collective account associated with at least one organization. The periodic bases for aggregating tag usage, calculating rewards and attributing rewards may be the same or different. Further, the periodic bases may be daily, weekly, monthly, bimonthly, quarterly, biannually or annually.

[0039] Although the invention is described in terms of electronic tags associated with prefunded accounts, collective accounts, and individual accounts, this description is not intended to limit the invention but is rather one embodiment as will be apparent to those skilled in the art.

[0040] Referring now to FIG. 1, a schematic of one embodiment of the invention is detailed for funding a collective account 100 such as a charitable contribution account. The invention comprises a plurality of tags 105.sub.1 through 105.sub.n, each tag associated with at least one prefunded account 110.sub.1 through 110.sub.n. Also, each tag may be associated with a collective account 100, as selected by the tagholder. Alternatively, each prefunded account 110.sub.n may be associated directly with the collective account 100, or each tag 105.sub.n may be associated with multiple collective accounts (not shown). The invention further comprises aggregating the tag usage for at least some of the tags associated with the collective account 100, calculating a reward based on the aggregate tag usage, and funding the collective account 100 with the calculated reward. Alternatively, for tags associated with multiple collective accounts, the tagholder may select the percentage of tag usage to be associated with each collective account. In other embodiments, account balances of prefunded accounts 110.sub.1 through 110.sub.n may be aggregated for purposes of calculating the reward. The tags and prefunded accounts may also be associated with individual accounts 115.sub.1 through 115.sub.n, which may be used as a source of funds to replenish the prefunded accounts 110.sub.1 through 110.sub.n upon fulfillment of a predetermined condition, as a low prefunded account balance.

[0041] A flowscheme of one embodiment of the invention is shown in FIG. 2. At 200, each tag is associated with some tag identification information, which could be detected in various manners as IR or RF transmissions or bar code scanners. At 210, each tag is associated with a prefunded account within the ETC system as well as at least one collective account. When the tag identification information is detected by a reader/antenna during tag usage at 220, it is used by the ETC system to identify the specific tag and associated prefunded account. The detector could detect signals emitted by a transponder located in the electronic tag, as RF or IF signals, or alternatively the tag may comprise a bar code which is detectable by a sensor. Regardless of the form of detection, the ETC system debits the prefunded account associated with the identified tag for the amount of the toll or purchase. Tag usage, or portion of tag usage, can be aggregated for each tag associated with the collective account at 230. At 240, a bonus or reward can be calculated based on aggregate tag usage for a collective account, which is credited to the collective account at 250.

[0042] A flowscheme of an alternative embodiment of the invention is shown in FIG. 3. At 300, each tag is associated with some tag identification information, which could be detected in various manners as IR or RF transmissions or bar code scanners. At 310, each tag is associated with a prefunded account within the ETC system as well as at least one collective account. When the tag identification information is detected by a reader/antenna during tag usage at 320, it is used by the ETC system to identify the specific tag and associated prefunded account. The detector could detect signals emitted by a transponder located in the electronic tag, as RF or IF signals, or alternatively the tag may comprise a bar code which is detectable by a sensor. Regardless of the form of detection, the ETC system debits the prefunded account associated with the identified tag for the amount of the toll or purchase. On some periodic basis, prefunded account balances can be aggregated for each prefunded account associated directly with, or indirectly through a tag with, the collective account at 330. At 340, a bonus or reward can be calculated based on aggregate prefunded account balances for a collective account, which is credited to the collective account at 350.

[0043] Referring to FIG. 4, one embodiment of a computer-based system for funding a collective account is described. The ETC system may have a host computer 400, a plurality of remote computers 410.sub.1 through 410.sub.n, and a plurality of reader/antennas 420.sub.1 through 420.sub.n associated with remote computers 410.sub.1 through 410.sub.n. The host computer has a processor 460 capable of programmed response, and also has a storage unit 470, which may comprise a hard drive or other magnetic, solid state or other storage media, for storing applications, data, operating system and other information.

[0044] Upon or anytime after tagholder enrollment with the ETC, searchable indexed computer files 430.sub.1 through 430.sub.n are created by the host computer processor 460 for each enrolled tagholder and stored in the host computer storage 470. The files 430.sub.1 through 430.sub.n may contain such information as an individual tagholder's name, address, tag identification information, prefunded account information, tag usage, and selected collective account(s). The files 430.sub.1 through 430.sub.n may also contain information identifying individual accounts that may be used to replenish the prefunded account balances. Each account can be indexed by the tag identification information, name, and selected collective account. Also, files 480.sub.1 through 480.sub.n may be created by processor 460 and stored in storage 470 containing information for a plurality of collective accounts.

[0045] A plurality of readers/antenna 420.sub.1 through 420.sub.n may be located at remote locations from the host computer 400 at the sights where the tagholders use the tags to purchase goods or services. The tag can transmit or is otherwise detectable to provide the tag identification information. Each reader/antenna 420.sub.n may be associated with and capable of communicating with a remote computer 410.sub.n, where each remote computer is capable of communicating with and transmitting information to and receiving information from the host computer 400. In addition, each local computer 410.sub.n may also have a processor capable of programmable response and storage capability.

[0046] When a tag is detected by the reader/antenna 420.sub.n for a purchase of a good or a service, tag identification information can be recorded in the local computer 410.sub.n along with the amount of the charge. Either in real time or on a periodic basis, the local computer 410.sub.n can communicate with the host computer 400 and transmit the detected tag identification information along with the associated charge amount. Using the tag identification information, the host computer 400 can access the file 430.sub.n indexed by that tag identification information, and debit the prefunded account associated with that file for the charge amount.

[0047] Either in real time or on a periodic basis, the processor 460 of the host computer 400 can access all tags and/or prefunded accounts that are associated with a certain collective account 480.sub.n and either aggregate the total tag usage or the “float” of the prefunded account balances for the prefunded accounts associated with that collective account. A reward can be calculated based on these aggregates, and the processor 460 can initiate a funds transfer in an amount equal to the reward to the collective account 480.sub.n.

[0048] The foregoing embodiments have been presented for the purpose of illustration and description only and are not to be construed as limiting the scope of the invention in any way. The scope of the invention is to be determined from the claims appended hereto.