METHOD AND SYSTEM FOR USING MULTI-FUNCTION CARDS FOR STORING, MANAGING AND AGGREGATING REWARD POINTS
A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of independent reward points issuing entities, with each tracking the user's earned reward points in a user reward point account stored on a multi-function card (such as a frequent flyer account or a credit card loyalty account). The multi-function card is adapted to aggregate some or all of the user's earned reward points from the reward accounts and credit the aggregated points into a single reward exchange account on the multi-function card. The user may then select an item for purchase with the accumulated reward points from the multi-function card. The item is provided to the user in exchange for a subset or all of the reward points from the multi-function card.
1 - 34 . (canceled)
35 . A portable multi-function device comprising processing circuitry, program storage, and data memory; wherein
a transaction application and a reward account associated with the transaction application are stored in the data memory, and
the processing circuitry is programmed via instructions in the program storage to:
store in the reward account a set of rewards issued as a result of a first purchase transaction executed using the transaction application,
execute a second purchase transaction with a merchant using rewards from the reward account in combination with the transaction application as payment for an item from the merchant.
36 . The device of claim 35 wherein the transaction application is a credit card application.
37 . The device of claim 35 wherein the transaction application is a debit card application.
38 . The device of claim 35 , wherein the rewards stored in the reward account comprise reward points.
39 . The device of claim 35 , wherein the rewards stored in the reward account comprise frequent flyer miles.
40 . The device of claim 35 , wherein the rewards stored in the reward account comprise a rebate.
41 . The device of claim 35 , wherein the rewards stored in the reward account comprise a coupon.
42 . The device of claim 35 wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use as a default transaction account in the second purchase transaction by referencing a user profile.
43 . The device of claim 42 wherein the user profile is stored in the data memory.
44 . The device of claim 42 wherein the default transaction account is associated with the item in the second purchase transaction.
45 . The device of claim 42 wherein the default transaction account is associated with the merchant in the second purchase transaction.
46 . The device of claim 35 further comprising user input circuitry, wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use in the second purchase transaction by referencing a user selection made via the user input circuitry.
47 . The device of claim 46 wherein the user input circuitry comprises a button.
48 . The device of claim 35 wherein the device is a smart card.
49 . The device of claim 35 wherein the device is a peripheral device.
50 . A method of using a portable multi-function device comprising
the portable multi-function device storing in a data memory a transaction application and a reward account associated with the transaction application,
the portable multi-function device storing in the reward account a set of rewards issued as a result of a first purchase transaction executed using the transaction application, and
the portable multi-function device executing a second purchase transaction with a merchant using rewards from the reward account in combination with the transaction application as payment for an item from the merchant.
51 . The method of claim 50 wherein the transaction application is a credit card application.
52 . The method of claim 50 wherein the transaction application is a debit card application.
53 . The method of claim 50 , wherein the rewards stored in the reward account comprise reward points.
54 . The method of claim 50 , wherein the rewards stored in the reward account comprise frequent flyer miles.
55 . The method of claim 50 , wherein the rewards stored in the reward account comprise a rebate.
56 . The method of claim 50 , wherein the rewards stored in the reward account comprise a coupon.
57 . The method of claim 50 wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and further comprising the step of the processing circuitry selecting the transaction account for use as a default transaction account in the second purchase transaction by referencing a user profile.
58 . The method of claim 57 wherein the user profile is stored in the data memory.
59 . The method of claim 57 wherein the default transaction account is associated with the item in the second purchase transaction.
60 . The method of claim 57 wherein the default transaction account is associated with the merchant in the second purchase transaction.
61 . The method of claim 50 wherein the transaction account is one of a plurality of transaction accounts stored in the data memory, and wherein the processing circuitry selects the transaction account for use in the second purchase transaction by referencing a user selection made via user input circuitry on the device.
62 . The method of claim 61 wherein the user input circuitry comprises a button.
63 . The method of claim 50 wherein the device is a smart card.
64 . The method of claim 50 wherein the device is a peripheral device.