SYSTEM AND METHOD FOR TRANSACTING PURCHASES WITH A CASH VENDOR USING POINTS AND A VIRTUAL CREDIT CARD

摘要

System and method that utilizes a participant's points and a single use, virtual credit card account to implement a cash purchase with a cash vendor. The virtual credit card is active for a single purchase only with an available credit equal to the total of the cash purchase price and any fees. The virtual credit card may further be active for a limited period of time.

主权项

1. A computerized method for use by a participant of a program of a program owner, in which the program awards points to the participant, wherein the awarded points are maintained in a point account for the participant by a program manager, said method for permitting the participant to transact a purchase using the awarded points with a cash vendor system which transacts purchases in currency wherein the transaction occurs via a broker website which interfaces between the participant and the cash vendor system, wherein a virtual payment provider provides a virtual credit card account for facilitating the transaction, said method comprising:
permitting the participant to:
contact the cash vendor system via the broker website; andselect from the cash vendor system via the broker website at least one item having a cash purchase price; said method further comprising: receiving by the broker website a participant credit card account for paying for fees and a nonpoint portion of the cash purchase price; requesting a virtual credit card account from the virtual payment provider, wherein the virtual credit card account is uniquely associated with the transaction; charging fees to the virtual credit card account; providing the virtual credit card account to the cash vendor system so that the cash vendor system can charge the cash purchase price to the virtual credit card account; charging the participant credit card account for the nonpoint portion of the cash purchase price; deducting points from the point account of the participant corresponding to the point portion of the cash purchase price; such that from the perspective of the participant, the participant uses the broker website to conduct a purchase transaction with the cash vendor system based in part on the points in the participant's point account and based in part on the participant's credit card account; and such that from the perspective of the cash vendor system, the cash vendor system conducts the purchase transaction with the participant as a currency transaction based on the virtual credit card account.