Method and system for processing a rebate
View Patent ↗A point of sale (POS) rebate method and system allows a consumer purchasing a product having an associated manufacturer's mail-in rebate to redeem the rebate at the POS. Products that have associated manufacturer rebates are recognized when the products are purchased, e.g., based on information stored in a rebate database. When such products are identified, terms and conditions of a POS rebate are determined. The value of the POS rebate may be determined based on the value of the mail-in rebate offered by the manufacturer. The value of the POS rebate may be determined by querying a server containing rebate information, such as a server operated by or on behalf of the manufacturer or retailer. The consumer is then prompted to choose whether to keep the original manufacturer's mail-in rebate, or to accept the POS rebate, along with any terms and conditions associated with the POS rebate.
1. A method, comprising:
identifying a product associated with a first rebate, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value;
determining whether a second rebate is associated with the product in a memory of a computing devices,
wherein the second rebate is redeemable for a second value that is different from the first value;
offering, if the second rebate is associated with the product and to a consumer, the second rebate in exchange for the first rebate;
obtaining the predetermined document, surrendered by the consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issuing the second rebate to the consumer.
2. The method of claim 1 , wherein the second rebate has at least a first term based on a term of the first rebate.
3. The method of claim 1 , wherein the second rebate has at least a first condition based on a condition of the first rebate.
4. The method of claim 1 , wherein the first rebate is a manufacturer rebate and the second rebate is a POS rebate.
5. The method of claim 1 , further comprising:
receiving an acceptance of the second rebate from the consumer.
6. The method of claim 1 , further comprising redeeming the second rebate for compensation, the compensation including at least one of: (i) an alternative product; (ii) a retailer credit; (iii) a price reduction; (iv) a coupon; (v) a certificate; and (vi) cash.
7. The method of claim 6 , wherein offering and redeeming is performed at the same terminal.
8. The method of claim 6 , wherein offering is performed at a first terminal and redeeming is performed at a second terminal.
9. The method of claim 6 , wherein redeeming further includes at least one of: (i) issuing a credit; (ii) crediting an account; and (iii) recording credit on a transaction card.
10. The method of claim 9 , wherein the account is at least one of: (i) a retail store account; (ii) a credit card account; and (iii) a bank account.
11. The method of claim 6 , wherein the compensation is modified at the time of a subsequent transaction and is based at least in part upon a product included in the subsequent transaction.
12. The method of claim 1 , wherein the second rebate includes at least a first term and at least a first condition, the method further comprising updating the at least first term and the at least first condition based on information received from a manufacturer of the product.
13. The method of claim 12 , wherein updating is performed based on redemption statistics.
14. The method of claim 12 , wherein the second rebate includes at least one term determined based on consumer purchasing characteristics.
15. The method of claim 14 , wherein the consumer purchasing characteristics include at least one of: (i) a purchase frequency; (ii) a total purchase value; and (iii) a rebate redemption rate.
16. The method of claim 6 , wherein redeeming includes further determining at least a first term and at least a first condition associated with the second rebate.
17. The method of claim 1 , wherein the second rebate is defined by at least a first redemption condition, the method further comprising:
receiving a commitment from the consumer to comply with the at least first redemption condition; and
providing the second value of the second rebate offer to the consumer.
18. The method of claim 17 , wherein the commitment from the consumer includes information identifying a payment account and a penalty amount, the method further comprising:
applying the penalty amount to the payment account if the consumer fails to comply with the redemption condition.
19. The method of claim 18 , wherein the penalty amount is equal to the second value of the second rebate.
20. The method of claim 6 , wherein the second rebate includes at least a first condition identifying a number of consumer visits required before redeeming.
21. The method of claim 1 , wherein the second value of the second rebate is established at a point of sale based at least in part on information about a purchase transaction.
22. The method of claim 1 , wherein the second value of the second rebate increases for subsequent visits.
23. The method of claim 1 , wherein the second rebate includes at least the second value of the second rebate and wherein the second value increases for subsequent visits, and includes a final value of zero indicating expiration of the second rebate.
24. The method of claim 1 , wherein the second rebate includes a condition indicating a required redemption time.
25. The method of claim 24 , wherein the second rebate includes the second value of the second rebate and wherein the second value decreases as redemption time increases.
26. The method of claim 24 , wherein the second value of the second rebate increases for later redemption times.
27. The method of claim 24 , wherein the second value of the second rebate decreases for later redemption times.
28. The method of claim 1 , further comprising determining a retailer reimbursement value.
29. A method of processing rebates, comprising:
identifying a first rebate associated with a product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first products,
wherein the first rebate is redeemable for a first value;
determining whether an alternative rebate is associated with the product in a memory of a computing devices,
wherein the alternative rebate is redeemable for a second value that is different from the first value;
if the alternative rebate is associated with the product, accepting input indicative of a selection of the alternative rebate; and if selected,
obtaining the predetermined document, surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issuing the alternative rebate to the consumer.
30. The method of claim 29 , wherein identifying a first rebate is performed by entering product information at a point of sale terminal.
31. The method of claim 29 , wherein the second value of the alternative rebate is updated periodically.
32. The method claim 29 , wherein a value term of the alternative rebate is updated after a predetermined number of purchases.
33. The method of claim 29 , further comprising redeeming the alternative rebate for a credit in the same transaction in which the alternative rebate is issued.
34. The method of claim 29 , further comprising redeeming the alternative rebate in a subsequent transaction.
35. A method, comprising:
identifying a product;
identifying a first rebate and a second rebate associated with the product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value and the second rebate is redeemable for a second value that is different from the first value, and
wherein an offer for the second rebate is output via a point of sale terminal during a transaction in which the product is being purchased such that a value of the second rebate may be applied to the transaction by the point of sale terminal if the consumer accepts the second rebate;
receiving an acceptance of the second rebate from the consumer;
obtaining the predetermined document, surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate;
issuing the second rebate to the consumer; and
receiving a request from the consumer to redeem the second rebate.
36. The method of claim 35 , further comprising:
redeeming the second rebate if the consumer has satisfied at least a first condition associated with the second rebate.
37. The method of claim 36 , further comprising:
providing a value to the consumer if the consumer has satisfied the at least first condition.
38. The method of claim 35 , wherein the second rebate is issued at a retail point of sale.
39. An apparatus comprising:
a processor, and
a memory that stores a program for directing the processor;
the processor being operative with the program to:
identify a product associated with a first rebate, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value;
determine whether a second rebate is associated with the product,
wherein the second rebate is redeemable for a second value;
if the second rebate is associated with the product, offer to a consumer the second rebate in exchange for the first rebate;
determine an indicator that the predetermined document has been surrendered by the consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issue the second rebate to the consumer.
40. A computer readable medium encoded with instructions for directing a processor to:
identify a product associated with a first rebate, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first products,
wherein the first rebate is redeemable for a first value;
determine whether a second rebate is associated with the product,
wherein the second rebate is redeemable for a second value that is different from the first value;
if the second rebate is associated with the product, offer to a consumer the second rebate in exchange for the first rebate;
determine an indicator that the predetermined document has been surrendered by the consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issue the second rebate to the consumer.
41. An apparatus comprising:
a processor, and
a memory that stores a program for directing the processor;
the processor being operative with the program to:
identify a first rebate associated with a product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value;
determine whether an alternative rebate is associated with the product,
wherein the alternative rebate is redeemable for a second value that is different from the first value;
if the alternative rebate is associated with the product, accept input indicative of a selection of the alternative rebate; and if selected,
determine an indicator that the predetermined document has been surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issue the alternative rebate to the consumer.
42. A computer readable medium encoded with instructions for directing a processor to:
identify a first rebate associated with a product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value;
determine whether an alternative rebate is associated with the product,
wherein the alternative rebate is redeemable for a second value that is different from the first value;
if the alternative rebate is associated with the product, accept input indicative of a selection of the alternative rebate; and if selected,
determine an indicator that the predetermined document has been surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate; and
issue the alternative rebate to the consumer.
43. An apparatus comprising:
a processor, and
a memory that stores a program for directing the processor;
the processor being operative with the program to:
identify a product;
identify a first rebate and a second rebate associated with the product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value and the second rebate is redeemable for a second value that is different from the first value, and
wherein an offer for the second rebate is output via a point of sale terminal during a transaction in which the product is being purchased such that a value of the second rebate may be applied to the transaction by the point of sale terminal if the consumer accepts the second rebate;
receive an acceptance of the second rebate from the consumer;
determine an indicator that the predetermined document has been surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate;
issue the second rebate to the consumer; and
receive a request from the consumer to redeem the second rebate.
44. A computer readable medium encoded with instructions for directing a processor to:
identify a product;
identify a first rebate and a second rebate associated with the product, the first rebate being redeemable by mailing a predetermined document associated with the first rebate to a first entity associated with the first product,
wherein the first rebate is redeemable for a first value and the second rebate is redeemable for a second value that is different from the first value, and
wherein an offer for the second rebate is output via a point of sale terminal during a transaction in which the product is being purchased such that a value of the second rebate may be applied to the transaction by the point of sale terminal if the consumer accepts the second rebate;
receive an acceptance of the second rebate from the consumer;
determine an indicator that the predetermined document has been surrendered by a consumer at a retailer terminal operated by a second entity, such that the consumer can no longer redeem the first rebate;
issue the second rebate to the consumer; and
receive a request from the consumer to redeem the second rebate.
45. The method of claim 1 , wherein the first value is greater than the second value.
46. The method of claim 1 , wherein the first value is less than the second value.