Method, system and computer program product for rewarding purchase of branded products
A service provider can increase customer loyalty to their brand by offering branded products related to their business for sale to the general consumer. Points may be awarded in the service provider's rewards program at an accelerated earning rate when the consumer purchases a branded retail product using a transaction account linked to the rewards program. Accumulated points may then be used in exchange for goods and services provided by the service provider. A discount rate certificate may be awarded to the customer when an account is opened in the rewards program. Once the customer has spent a certain monetary amount using the transaction account, the customer may be awarded preferred membership status in the service provider's rewards program. The preferred membership status is awarded regardless of whether the spending is direct spend or non-direct spend, and does not require a minimum amount of direct spend with the service provider.
1 . A method of rewarding spend by a customer using a transaction account, comprising:
linking the transaction account to a reward point account associated with a service provider rewards program;
awarding points in the reward point account at a base earning rate for spend using the transaction account; and
awarding points in the reward point account at an accelerated earning rate for spend on retail products branded by the merchant.
2 . The method of claim 1 , further comprising:
awarding points in the rewards program to the transaction account at a second accelerated earning rate for merchant-related direct spend.
3 . The method of claim 1 , further comprising:
awarding points in the rewards program to the transaction account at a second accelerated earning rate for telecommunications spend.
4 . The method of claim 1 , further comprising:
awarding points in the rewards program to the transaction account at a second accelerated earning rate for fitness-related spend.
5 . The method of claim 1 , further comprising:
awarding a preferred membership status in the service provider rewards program based on a combination of direct and non-direct spend by the customer using the transaction account.
6 . The method of claim 5 , wherein the step of awarding a preferred membership status further comprises:
awarding a lower-tier preferred membership status in the service provider rewards program when the transaction account is linked to the reward point account; and
awarding a higher-tier preferred membership status in the service provider rewards program when the combination of direct and non-direct spend reaches a given level.
7 . The method of claim 1 , further comprising:
awarding a discount rate certificate to the customer upon opening the reward point account and at renewal.
8 . The method of claim 1 , further comprising:
allowing access to service provider facilities using radio frequency identification (RFID) functionality included in a transaction instrument associated with the transaction account.
9 . The method of claim 1 , further comprising:
awarding an acquisition bonus to the reward point account, wherein reward points in the bonus are determined based on an initial direct or non-direct spend purchase.
10 . A system for rewarding spend by a customer using a transaction account, comprising:
a processor; and
a memory in communication with the processor, the memory for storing a plurality of processing instructions for directing the processor to:
link the transaction account to a reward point account associated with a service provider rewards program;
award points in the reward point account at a base earning rate for spend using the transaction account; and
award points in the reward point account at an accelerated earning rate for spend on retail products branded by the merchant.
11 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award points in the rewards program to the transaction account at a second accelerated earning rate for merchant-related direct spend.
12 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award points in the rewards program to the transaction account at a second accelerated earning rate for telecommunications spend.
13 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award points in the rewards program to the transaction account at a second accelerated earning rate for fitness-related spend.
14 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award a preferred membership status in the service provider rewards program based on a combination of direct and non-direct spend by the customer using the transaction account.
15 . The system of claim 14 , wherein the plurality of processing instructions for directing the processor to award a preferred membership status comprises instructions for directing the processor to:
award a lower-tier preferred membership status in the service provider rewards program when the transaction account is linked to the reward point account; and
award a higher-tier preferred membership status in the service provider rewards program when the combination of direct and non-direct spend reaches a given level.
16 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award a discount rate certificate to the customer upon opening the reward point account and at renewal.
17 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
allow access to service provider facilities using radio frequency identification (RFID) functionality included in a transaction instrument associated with the transaction account.
18 . The system of claim 10 , wherein the plurality of processing instructions further comprises instructions for directing the processor to:
award an acquisition bonus to the reward point account, wherein reward points in the bonus are determined based on an initial direct or non-direct spend purchase.
19 . A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to reward spend by a customer using a transaction account, said control logic comprising:
first computer readable program code means for causing the computer to link the transaction account to a reward point account associated with a service provider rewards program;
second computer readable program code means for causing the computer to award points in the reward point account at a base earning rate for spend using the transaction account; and
third computer readable program code means for causing the computer to award points in the reward point account at an accelerated earning rate for spend on retail products branded by the merchant.
20 . The computer program product of claim 19 , further comprising:
fourth computer readable program code means for causing the computer to award points in the rewards program to the transaction account at a second accelerated earning rate for merchant-related direct spend.
21 . The computer program product of claim 19 , further comprising:
fourth computer readable program code means for causing the computer to award points in the rewards program to the transaction account at a second accelerated earning rate for telecommunications spend.
22 . The computer program product of claim 19 , further comprising:
fourth computer readable program code means for causing the computer to award a discount rate certificate to the customer upon opening the reward point account and at renewal.
23 . The computer program product of claim 19 , further comprising:
fourth computer readable program code means for causing the computer to allow access to service provider facilities using radio frequency identification (RFID) functionality included in a transaction instrument associated with the transaction account.
24 . The computer program product of claim 19 , further comprising:
fourth computer readable program code means for causing the computer to award an acquisition bonus to the reward point account, wherein reward points in the bonus are determined based on an initial direct or non-direct spend purchase.