WO2015016767A1

WO2015016767A1 - A loyalty system

Info

Publication number: WO2015016767A1
Application number: PCT/SG2013/000314
Authority: WO
Inventors: Bao Qing Vincent LI; Seng Aik Daniel DUA
Original assignee: Individual
Current assignee: Individual
Priority date: 2013-07-29
Filing date: 2013-07-29
Publication date: 2015-02-05
Anticipated expiration: 2016-01-29
Also published as: WO2015016780A1; TW201604816A; WO2015016780A8

Abstract

A loyalty system for exchanging reward points from a plurality of rewards programs comprising a plurality of consumer modules (302) configured to accept login credentials from each consumer from those of the plurality of rewards programs for which that consumer is enrolled; a merchant server (307) for each of or for groups of the plurality of rewards programs, each configured to provide a plurality of goods or services redeemable for an advertised amount of rewards points under that merchant's rewards program and/or storing accumulated reward points for consumers enrolled with that merchant's rewards program; a server module (310) configured to connect the plurality of consumer modules (302) to the plurality of merchant servers (307), and storing programmed instructions configured to: receive input from the consumer to exchange accumulated reward points from a first merchant reward program into a universal points program, determine a conversion rate based on the first merchant rewards program and a real time currency exchange rate, display the determined conversion as an offer to the consumer, if the consumer accepts the offer, sending a debit request to the first rewards program at the respective merchant server (307) and crediting the offered universal points to a universal points account for the respective consumer.

Description

A loyalty system

Field of invention

The present invention relates to a loyalty system. Background of invention

Loyalty points awarded by businesses to encourage desired consumer spend patterns through a reward program is a common practice by airlines, boutiques, department stores, pharmacies, banks, fuel retailers etc.

According to (ANDRIOTIS, 2012), an average American household participates in an estimated 18 consumer rewards programs. However there is no clear indication of many companies offer such loyalty programs, where consumers get discounts or bonuses for shopping often.

According to a study in 2011 about $16 billion dollars bf reward points go unredeemed each year in the US.

Consumers leave reward points unredeemed for reasons not limited to:

1. Lack of awareness in number of reward points available on various reward programs signed up

2. Have insufficient points to make the lowest value redemption

3. Lack of awareness of expiry date

4. Unsure about structure of loyalty program

5. Unsure about redemption possibilities

6. Unsure about redemption process

For example merchants share publish redemption catalogue with pre-negotiated deals with their consumers. An example of such deal is, exchange 20,000 points for a Brand X 21" LCD TV. However, the consumer cannot buy a 26" LCD TV even if they have more points because it was not part of the catalogue options. Another example is the consumer, who is a customer of Merchant Y, cannot walk in to Merchant X retail store to purchase any goods with reward points from Merchant Y as the reward points are not recognized by Merchant X. Buying or redemption of a 21" LCD TV at Merchant X retail store is not possible due to this reason. Thus in most cases the redemption process is only managed via the merchant who issued the points.

Some rewards programs limit the consumer to redemption options/catalogues by geography. For example, a consumer who signed up for a credit card rewards program in Singapore is only entitled to select redemption from a catalogue limited to Singapore consumers. The consumer cannot redeem goods reflected in catalogues provided by the same merchant in other countries.

As an attempt to overcome this problem, a website called points.com allows very limited exchange of points between loyalty programs. However each loyalty program has different restrictions and the system is not consumer friendly or transparent. There is no easy way for the consumer to know at any one time how many points they have in total across all the programs or easily perceive what the relevant value of each loyalty point is.

The term point is used herein to mean, (but is not limited to), any form of credits, miles, points, rebates, virtual dollars or other accumulated loyalty value that is provided between merchants, intermediaries and/or consumers.

Summary of invention

It may therefore be desirable to provide for better utilization of points by consumers and/or better consumer retention by merchants. At the very least it may be desirable to provide consumers with a useful choice.

In general terms in a first aspect the invention proposes an independent reward points program and a reward points trading system between a plurality of 3^rd party loyalty programs and the independent reward points program. The independent reward points may be pegged to an actual value in a real currency. This may allow consumers to immediately appreciate the relevant values of the reward points in each program and/or to easily appreciate the actual value of all of the combined reward points portfolio. The independent reward points program may exchange reward points to or from a consumer from a plurality of 3^rd party loyalty programs to a common type of points, eg: Universal Points ("UP"), which the consumer is enrolled in.

In a second aspect the invention proposes that a consumer initiates &/or negotiates for a particular points earning arrangement in an agreement with a merchant. This allows consumers to consolidate required expenses with the selected Merchant and in doing so, fulfill the terms of the Agreement to earn a rebate in UP upon maturity of the Agreement. The benefit of this process for the merchant may be that they will receive proactive leads triggered by consumers who wishes to mandate their expenditure with the merchant through a formal agreement. This may also increases the sales productivity and sales volume for the merchant.

In a third aspect the invention proposes that a corporation can initiate & negotiate for a particular points redemption arrangement with a merchant. This may allow the corporation to consolidate required expenses with the selected merchant and in doing so, fulfill the terms of the agreement to earn a rebate in UP upon maturity of the agreement. The benefit of this process for the merchant may be that they will receive proactive leads triggered by corporations who wishes to mandate their expenditure with the merchant through a formal agreement. This also increases the sales productivity and sales volume for the merchant.

In a forth aspect the invention proposes that a consumer may search for redemption options categorized by Activity. This may make the consumer interface easier for the consumer, and more efficient to identify redemption items of particular interest as the search results will provide consumer with a checklist of all items which are relevant to the Activity This checklist provides the convenience for the consumer to purchase multiple required items in one instance saving time and efforts. Consumer may also get a bulk discount from a merchant for the mass purchase and merchant may benefit from increased sales volume. In a fifth aspect the invention proposes that a consumer's UP may be used to purchase any goods or service via a virtual concierge. This may have the advantage that the consumer is not limited to only redemption items on the loyalty program catalogue for each merchant. In a first specific expression of the invention there is provided a loyalty system for exchanging points from a plurality of rewards programs comprising

a plurality of consumer modules configured to accept login credentials from each consumer from those of the plurality of rewards programs for which that consumer is enrolled;

a merchant server for each of or for groups of the plurality of rewards programs, each configured to provide a plurality of goods or services redeemable for an advertised amount of points under that merchant's rewards program and/or storing accumulated points for consumers enrolled with that merchant's rewards program;

a server module configured to connect the plurality .of consumer modules to the plurality of merchant servers, and storing programmed instructions configured to:

receive input from the consumer to exchange accumulated points from a first merchant reward program into a universal points rewards program,

determine a conversion rate based on the first merchant rewards program and a real time currency exchange rate,

display the determined conversion as an offer to the consumer,

if the consumer accepts the offer, sending a debit request to the first rewards program at the respective merchant server and crediting the offered universal points to a UP account for the respective consumer. Brief description of the drawings

One or more embodiments will be described with the reference of the below drawings, in which:

Figure 1 is a flow diagram of a prior art Interface Engine for a Rewards Program

Figure 2 is a flow diagram of a prior art Interface Engine for a Group Rewards Program; Figure 3 is a schematic diagram of a hardware and communication configuration according to a first embodiment; Figure 4 is a flow diagram of the currency exchange conversion system in the first embodiment;

Figure 5 is a flow diagram of universal points purchase;

Figure 6 is a flow diagram of universal points redemption;

Figure 7 is a flow diagram of a points earning arrangement between a consumer and a merchant;

Figure 8 is a flow diagram of a points redemption arrangement between a corporate and a merchant;

Figure 9 is a flow diagram of a program customization;

Figure 10 is a flow diagram of a virtual concierge;

Figure 1 is a flow diagram of searching redemption items by activity;

Figure 12 is a flow diagram of merchant reconciliation after a transaction;

Figure 13 is a flow diagram of a consumer registration;

Figure 14 is a schematic diagram of the user interfaces;

Figure 15 is a screen shot of the admin interface;

Figure 16 is a screen shot of the consumer interface; and

Figure 17 is a screen shot of the merchant interface.

Detailed description

Figures 1 and 2 are typical rewards systems that are currently available where an individual 100 earns reward points by making purchases at/using a merchant 104, and through an existing rewards program 102, the individual 100 is capable of redeeming the points directly through the same merchant 104 (Figure 1 ). The merchant may also a redemption partner 104 as shown in Figure 2.

According to the first embodiment a system allows for accumulated points from a plurality of merchant reward programs to be exchanged for "universal points" that may be stored in an independent account stored on an independent server from the plurality of merchant reward programs. This allows the consolidation of the accumulated points from different merchant reward programs to UP in a single universal points account. The accumulated points may be from different merchant reward programs from the same country belonging to a single consumer or the accumulated points may be from same merchant reward program but from different countries belonging to a single consumer. These accumulated reward points from various merchant reward programs belonging to a single consumer may be converted to UP that may then be used to redeem goods or services that are not restricted by geographical or industrial differences. This system allows for the consolidation of the reward points from various merchant reward programs with various terms and conditions to a single universal point system with possibly only one set of restrictions making the process of collecting and redeeming reward points more convenient and efficient for the consumer. Each consumer may be given a secured means to login into his or her individual consumer module of the system. Each consumer may have more than one rewards program, each offered by a different merchant. A single consumer module may be capable of consolidating all the information related to the plurality of enrolled rewards programs for that consumer. The consumer thus with a single login to the consumer module may be able to view the details of the plurality of enrolled rewards program associated to him or her.

Each merchant server may have their own list of goods or services redeemable for an advertised amount of rewards points under that merchant's rewards program. A merchant may be but is not limited to a credit card company, airline company, department store and the like. The merchant server may also provide a service of storing accumulated points for consumers enrolled with that merchant's rewards program.

Figure 3 shows a system 300 according to the first embodiment comprising a consumer module 302, a merchant module 306 and a Universal Points ("UP") module 304. An UP server 310 exchanges value from a plurality of rewards programs which are stored in each merchant's database 308 to the UP rewards program stored in a UP database 312.

The consumer module 302 is configured to accept login credentials from each consumer relating to each merchant rewards program they are enrolled for. The consumer module 302 then displays to the enrolled rewards programs for that consumer and offers exchange, redemption top-up and other options. Each merchant database 308 stores a plurality of goods or services redeemable for an advertised amount of rewards points under that merchant's rewards program as well as storing accumulated reward points for consumers enrolled with that merchant's rewards program. The UP server 310 serves as an interface between the merchant server 307, the merchant database 308, the UP database 312 and the consumer module 302. Software is executed on the UP server 310 which enables processes including exchanging merchant reward points for UP, exchanging UP for merchant reward points, redeeming UP for goods and services at a merchant, redeeming merchant reward points for goods and services at a merchant and administrative account related processes for the merchants and the consumers.

^■ The UP module 304 may comprise a web server 310, a database 312, an ecommerce server and a communications link that allow each consumer module 302 to connect to the plurality of merchant servers 307 that the consumer is enrolled with. The UP ecommerce server may include software to provide a real-time conversion of reward points from the different merchant reward programs into UP.

For example when the consumer logs in on the consumer module 302, the UP server 310 may make an update request the merchant servers 307. Each merchant server may send a reply advising the current number of reward points. Referring to Figure 4 for example the reward points may be for a rewards program hosted in the US. The UP database 312 stores a look up table which provides a conversion of the reward points for that merchant to their equivalent value in USD 400. The UP ecommerce server accesses a real-time- currency conversion rate from USD-SGD 402 (the host currency of UP in this case is SGD) using the communication link to a host bank site. Alternatively the UP ecommerce server uploads interbank exchange rates on a daily basis. The UP ecommerce server then multiplies the equivalent value in USD 400 by the currency conversion rate from USD-SGD 402 to obtain the equivalent value in SGD 404. The equivalent value in SGD 404 therefore represents the value in UP. Other rewards programs may be in other satellite currencies 406. The UP server 310 provides technical benefits to the consumer in terms of increased accuracy of redemption, more efficient user interface for redemption and a wider range of redemption options. The UP server 310 provides technical benefits to the merchant in terms of more accurate and more regular settlement of reward points. The UP server 310 provides technical benefits to the operator in terms of smaller data storage requirements of the conversion between the respective merchant rewards programs, increased accuracy of the conversions, lower financial risk for the conversions, and faster processing of transactions with consumers and merchants. The UP server 310 is a data repository which will capture important consumer behaviours through their purchases and redemptions of different products offered by merchants. The system stores the data over time in a structured format in multiple tables in a database server the like of a SQL server, and thus this historical data is stored in a more compact form, and is more accurate that prior art data, which is normally spread over various vendors and is not able to be consolidated. The data can be used with machine learning to identify consumer behaviours in relation to points usage, and to refine sales marketing strategies and campaigns by merchants. Examples of the data captured to analyse consumer behaviours are as follows:

1. Details of all purchases (date of purchase, amount, occasion, etc)

2. Details of products purchased (type, model, brand, etc)

3. Details of merchant (location, industry, etc)

4. Details of promotions / campaigns if applicable (type, name, discount applicable, etc)

5. Mode of payment (Credit Card used, etc)

6. Delivery preference (address, classification, recipient, etc)

The consumer module 302 may be a software application that may be downloaded and installed on a computer or a mobile phone. This allows the consumer easy access to all the information regarding the accumulated reward points and UP on the go. The information on all the different accumulated points may be provided and the total number of UP is shown in the consumer module 302. The consumer module 302 provides the functions of cross border utilization of UP, redemption of the UP with listed merchants in the merchant servers 306, the option of topping up points with case when there are insufficient UP for the redemption and the like. In particular, when setting up the consumer module 302, the consumer will have to login, review and agree to the terms and conditions, authorise marketing materials, set up a Consumer ID and password and a basic consumer profile that may then be used for repeated access by the consumer. The consumer module 302 also provides a function which allows the consumer to update their profiles with details such as basic consumer information like (full name, NRIC / passport number, date of birth, gender, mailing address, mobile number, residential number) and advance profile details such as important dates for events critical to the consumer, preference to receiving marketing materials and E Magazine, top 3 sports, top 3 activities, preferred mode of communication, privacy settings etc.

A method 1300 of consumer registration is shown in Figure 13.

Other functions that may be offered by the consumer module 302 include a daily login reward which may be a multimedia interactive program to reward consumers every day when they log into their portal using the consumer module 302. When the consumer makes purchases online using the server module 304, the consumer may be given additional chances to win more UP.

Each merchant server 307 may be hosted by third parties and will conform to a communication protocol.

This system 300 allows consumers to consolidate, combine or convert various merchant reward points into a one common program, UP. The consumers are able to match the value of the various merchant reward points through the conversion rate and with the use of the UP program to have access to global merchant offerings. The consumers may also be allowed to complete the redemption process with or without combination of cash. Group purchases where consumers combine their UP, or negotiate bulk discounts with merchants are also possible.

UP accumulation

Figure 5 shows a method 500 for a consumer to exchange their merchant reward points for UP. The consumer logs in 502 via the consumer module 302. The consumer may choose to view all the accumulated reward points from the plurality of merchant rewards programs converted to UP at one go, select a few of the merchants to be converted to UP or view each accumulated reward points from each merchant rewards program separately.

In order to display the conversion offer the UP server 310 determines the conversion arte as explained above. The total amount of UP after conversion from the first merchant rewards program is displayed as an offer to the consumer. The consumer can then enter 504 the number of UP to acquire, the number of merchant rewards points to exchange or separately a monetary payment amount in a currency to directly purchase UP. The consumer may be given an option to accept the offered conversions 506. The consumer may accept all the offers at one go or select one or more of the offers without selecting all the offers.

Accepting the offer 508 results in a payment option page 510. If it is a merchant reward exchange debit a request is sent to the first rewards program at the respective merchant server and crediting the offered UP to a UP account for the respective consumer. Alternatively the consumer is directed to a payment page where Credit Card details are required 512. Once the successful exchange response or payment response is received 514 the new UP may be stored 516 in the UP database 312.

UP redemption

The consumer may use the UP to purchase goods or services offered by the merchants. If the balance of UP is insufficient, the consumers may be able to offset the difference with cash and/or credit card payment.

Figure 6 shows a method 600 for a consumer to exchange their UP for merchant reward points or redeeming UP for goods or services provided by the merchant. The consumer logs in 602 via the consumer module 302. The merchant servers 306 provide details of the accumulated reward points and the redemption options available. The consumer selects an item and quantity to redeem 604. The UP server 310 send a hold request 606 for the requests goods and quantity to the merchant server 307 for the duration of the transaction. The offer conversion is calculated 608 and displayed as an offer to the consumer 610. If the consumer accepts the offer 612, if it is a UP debit the UP database 312 is queried for sufficient balance. If it is a merchant reward exchange debit a request is sent to the first rewards program at the respective merchant server 307. If it is a direct payment the consumer is directed to a payment page where Credit Card details are required 614. Once the successful exchange response or payment response is received 616 the UP database 312 /merchant database 308 is updated 618 with the new balance.

Merchant Admin

The UP server 310 may allow the function of a merchant "administrator". Login is provided an ID and password upon signing up. The merchant administration may allow rewards management to be maintained by the merchant. The merchant can use this function to credit reward points based on their own rewards program into a consumer's account. This may be done by the merchant awarding reward points based on their own rewards program via an electronic credit either directly to the consumer module or through the server module 304 wherein the points are awarded as UP. Before the reward points are credited to the consumer, the request made by the merchant is reviewed by the system 300 for authenticity and reward points are credited to the consumer's account in the consumer module 302. This process is instantaneous. For large amounts this process may bypass the system 300 for manual reviewing prior to the crediting of reward points. Manual loading of points is also possible, where the merchant sends a request via communication outside the system 300 and the loading of credits is manually uploaded.

The merchant server 306 may also provide the function of campaign management where the merchants can launch, manage price and timeline, update, collaborate and tag their products instantly. This information may be made available to the consumer via the server module 304. The merchant server 306 may allow for the merchant to be able to carry out inventory management where the merchants can load stock / inventory and model numbers to ensure stock availability, this provides a live inventory overview and that triggers will be sent to merchants when stocks are running low. When certain good or services are out of stock, this information may be fed back to the consumer via the server module 304. A temporary message customized by the merchant can be displayed in such situations to the consumer.

The merchant server 306 may provide other functions such as a means for reporting all commercial activities related to the UP program associated with that specific merchant allowing the merchant to do strategic planning to improve their rewards programs. The reporting details may include but are not limited to campaign performance, sales, viewership and consumer reviews.

Other functions that may be offered by the merchant server 306 include a means to advertise their good or services using E Magazines, publications and websites related to the server module and/or directly to the consumer module. Merchants can upload or remove their artwork and copies or contents using this function. Using "Utry", a new innovative and interactive way of online shopping where consumers can experience a product in a "live" video demonstrating how the product is useful, its strengths and attributes a merchant can load related information about how a product is applied, the attributes, comparison, ratings of the product, etc for consumers to review directly on the merchant server 306, server module 304 or consumer module 302.

The separate server module 304 that interacts with the merchant server 306 and the consumer module 302 within the system 300 has several advantages. For example, the server module may provide specific services to the merchant, such as a contact helpdesk where the merchant may have a direct communication channel with the server module 304. The communication channel may include but is not limited to emails, instant chats and video calls. Merchants may also request for an appointment with a representative of the server module 304 via this function as well. The separate server module 304 provides a service where merchants may customise their own rewards program based on the merchants that are participating in this UP program that is available in the UP database. This customisation may be a simple and straightforward process where the merchants can select other redemption merchants from a list of participating merchants available in the UP database 310. Selected redemption merchants may accept the partnership as per their default settings or provide subsequent online approval if required. The participating merchants which are part of the merchant server 306 may refer other merchants to the UP program. This may involve the new merchants having to enter information of the referee merchant as required by server module 304. The conversion status can be tracked and the referring merchant will be notified accordingly when the referee merchant is successfully signed up.

The server module 304 may also provide an E magazine, possibly a monthly publication which will portray latest products, offers and advertisements from participating merchants from the merchant rewards database 308 made available on the consumer module 302. The consumer may also post their feedback and rating for a product or service which they have purchased.

The server module 304 connected to the UP database provides information relating to the selling price and the buying price of universal points which is pre-loaded onto the system 300 as per agreement with merchants, prior to administrative consumer activation. The selling price determines the conversion rate when trading with the merchant who is fulfilling the redemption. When a consumer purchases a product in reward points, the traded reward points will be converted to the merchant's pegged currency and credited into the account settlement where payment to merchant is completed. The buying price determines the conversion rate of which the merchant converts their consumers' existing points into UP. The process requires the merchant awarding the reward points to determine the value of reward points accrued by consumer and then purchasing them using the system 300, the conversion is made seamless with the server module 304. The UP purchased are then invoiced through the settlement module and payment is collected. This is shown in Figure 12. The value of the consumer reward points are stored in the currency based on resident country indicated in the profile of the consumer in the consumer module 302. For example the UP may be stored using SGD or any other currency. Consumers can utilize their reward points to purchase goods from merchants from other geographic regions but the reward points paid will be based on value of product after currency conversion a service provided by the server module 304.

Account Settlement:

Each merchant will need to indicate their resident currency and provide a settlement bank account. Merchants are given a trading limit and terms. Invoices and settlements are automatically electronically transacted monthly based on the account information. Transaction history and past settlement reports can be retrieved via this function.

Management of contracts

Figures 7 and 8 show the flow of management of contracts to mandate purchase between consumers and merchants and corporations and merchants. The advantages of this feature for consumers are:

• Earn a rebate in UP by consolidating their expenses with a selected merchant over an agreed period of time

• Do an accurate comparison between various merchants to obtain the best offer for their purchases.

The advantages for merchants are:

• Increase in their bottom line as they stand to gain additional business from consumers who are willing to mandate their expenses

• Provides an opportunity to secure and retain these customers as their long term customers

• Receive proactive leads triggered by consumers who have the desire to mandate their expenses

• Increases the sales productivity and lower the operating expenses for the merchant a. This feature allows UP to set up and manage a contract between consumers and merchants whereby a consumer will commit to mandate all his expenses with a particular merchant in an agreed span of time. b. The merchant can also specify other criteria in this contract that can includes but are not limited to minimum consumer spend per annum, average monthly consumer spend, type of products consumer needs to purchase. c. At the end of the contract, the merchant will reward the consumer an amount of rebates in terms of universal points in accordance to an agreed table, example shown as below.

As each contract expires, the consumer will be offered the option to renew the contract with the merchant and the merchant will be able to specify any change in criteria subjected to acceptance from the consumer.

The entire process will be managed through UP. The process is as follows. i. The request for contract is initiated by the consumer to participating merchants.

ii. Participating merchants who are interested, must respond with a contract offer within a given timeframe.

iii. After the timeline is due, consumer reviews the time based contract proposals from merchants who have responded.

iv. Consumer can raise questions about the contract proposals and conduct negotiations via UP with the merchants.

v. Consumers can choose to accept a single contract proposal from one of the merchants or decline all contract proposals within the timeline given.

Customization of Rewards Program for Corporation

Basically this feature allows corporations to customize their very own Rewards Program for their customers. Example, Company ABC does not have an existing Rewards Program but wishes to leverage on UP's extensive network of merchants and our existing products or services to create their own customized Rewards Program. The benefits for Company ABC are:

• Quick ramp up for Company ABC to own a world class Rewards Program

· Ability to customize the Rewards Program to suit their business objectives and their customers' needs

• Save valuable time and resources from building a Rewards Program from scratch

• Leverage on UP's overall volume and demand to obtain cheaper rates for products and services

· Low maintenance and operating costs as end to end negotiation, redemption and fulfilment processes will be undertaken by UP

• Ability to manage the Rewards Program efficiently and conveniently

• Ability to expand the Rewards Program into an online sales and marketing platform Search by Activity

The consumer module 302 may provide the function of searching by activity where the consumer may use an advanced search function which offers the consumer the ability to search for products specific to an activity in the rewards database 308. The detailed explanation for how this type of searching may be done is shown in Figure 11. For example, the consumer may search for fishing trip, mountain hiking excursion, etc and the list of related items will appear for selection and review. Examples for fishing may be travel products to get there, accommodation options nearby, fishing equipment, food and supplies for the trip etc. Figure 11 shows the process of search by activity. The results may be provided either in relation to pre-specified pull down lists of activities (based on a stored look up table for each activity), or may be generated in real-time using freeform key word searching. Freeform searching would use contextual or subject based clustering to identify products related to that activity. Virtual concierge

The system of the present invention and the use of UP allow for the possibility of redemption of any item available for sale in the market using these reward points. There is an advantage also conferred to the merchant who can leverage on the UP program and enhance their existing loyalty and rewards programs.

Figure 10 shows the function of a virtual concierge which is a high touch service aimed to provide consumers with personalized service in managing their end to end purchase or redemption process with the UP program. The consumer can suggest for a product or service which he or she wishes to redeem using the UP and in the event that the product or service is unavailable from UP participating merchants, this service will then purchase the required product or service directly from a merchant selected by UP program via the server module 304 at an agreed cost with the consumer.

The system may first parse the consumers request to confirm there are no available products or services within the current offerings. If is confirmed there are no products or service available the system may automatically send RFPs to selected merchants based on the parsed consumer request. Any responses are parsed and offered to the consumer for their approval.

User Interface

As shown in Figure 14 there may be a range of different interfaces for the system 1402. For example there is an administrative interface 1402, consumer interface 1404, corporate interface 1406 and merchant interface 1408.

Administrative interface A screen shot of the administrative interface 1402 is shown in Figure 15. This includes the following options:

1. Fraud and Risk Management

This function is designed to control the system settings associated with how UP system detect out of pattern transactions from consumer, merchant or corporation. It also allows UP to customize various limits (example, transaction limit, floor limit, ceiling limit, etc).

2. User Profile Management

This function allows UP Admin to manage the profiles .of all users accessing UP system, including creation, modification, deletions and changing the access levels of the users. It can also change any settings on alerts to a user depending on user's preferences.

3. Reporting and Analytics

This function customizes the various reports and analytics which users can access via UP system.

4. Contract and Rates Management

This function stores all the contract related information witn consumers, merchants and corporations. It is a repository which stores scanned copies of the original contracts with merchants and pricing contracts which exist between consumer and merchant or corporation and merchant. It also allows the control of redemption and purchase rates with merchants. In addition, it can amend the settings of alerts to warn the upcoming expiry of a contract.

5. Finance Management (Billing, Recon)

This function controls the financial aspects (example, invoicing, reconciliation, etc) with all users.

6. Logistic & Tracking Management

This function allows UP to track the delivery status of all redemptions, view and modify the information of logistic partners.

7. Ads and Campaign Management

This function controls the details of all advertising and campaigns running within UP owned sites, including merchants' Home pages hosted or powered by UP.

8. Inventory and Database Management

This function allows the creation, deletion and modification of all product details and inventory related information (example, quantity, mode of delivery, supplier name, etc).

9. Online Auction and Exhibition Management

This function controls the aspects of online auctions or exhibitions conducted via UP website, including participating merchants, products submitted for auctions or exhibitions, discounts available, conditions applicable, etc.

10. Product Reviews Management

This function controls the moderation of all reviews submitted for products by all types of users including insertion, deletion, etc of the reviews to UP website.

11. Forum Management

This function allows UP admin to control the online forum hosted in UP website, including the moderation, modification and deletion of all comments, all threads.

12. Concierge Management

This function allows UP admin to control the critical and mandatory fields required for all concierge requests, parameters which UP system uses to select potential merchants and the parameters which UP system uses to prioritize the selected merchants.

Consumer interface

A screen shot of the administrative interface 1404 is shown in Figure 16. This includes the following options:

1. Profile Management

This function allows consumer to manage the all aspects of his or her profile (example, age, location, contact details, preferred mode of delivery, important dates, etc) in the UP system. 2. Reporting and Analytics

This function allows consumer to access the various reports and analytics in the UP system. 3. Contract Management

This function stores all the contract related information for which the consumer has set up with one or more merchant(s). In addition, it can amend the settings of alerts to warn the upcoming expiry of a contract.

4. Submit Product Reviews

This function allows consumer to submit a new review of a product and rate the product.

5. Redemption This function allows consumer to do a redemption of a product via UP online.

6. Purchase of Universal Points

This function allows consumer to purchase Universal Points for their account.

7. Virtual Concierge Request

This function allows consumer to submit a new request for a product which is currently not available in UP product catalogue for redemption. It also allows consumer to view the status of a request they have submitted previously. A consumer can also choose to terminate any of submitted request from this function.

8. Customer Service

This function allows consumer to get in touch with our Customer Service team via a webchat service, resolving their enquiries, issues or challenges real time.

9. Employee Benefits program (applicable only if the corporation which consumer is working for has established an Employee Benefits program for their employees)

This function allows consumer to access the Employee Benefits program under the Corporation which s/he is working for and submit redemptions.

Corporation interface

The corporate interface 1406 includes the following options:

1. Profile Management

This function allows corporation to manage the all aspects of its profile (example, age, location, contact details, preferred mode of delivery, important dates, etc) in the UP system.

2. Reporting and Analytics

This function allows corporation to access the various reports and analytics in the UP system.

3. Contract Management

This function stores all the contract related information for which the corporation has set up with one or more merchant(s). In addition, it can amend the settings of alerts to warn the upcoming expiry of a contract.

4. Submit Product Reviews

This function allows corporation to submit a new review of a product and rate the product.

5. Redemption This function allows corporation to do a redemption of a product via UP online.

6. Purchase of Universal Points

This function allows corporation to purchase Universal Points for their account.

7. Virtual Concierge Request

This function allows corporation to submit a new request for a product which is currently not available in UP product catalogue for redemption. It also allows corporation to view the status of a request they have submitted previously. A corporation can also choose to terminate any of submitted request from this function.

8. Customer Service

This function allows corporation to get in touch with our Customer Service team via a webchat service, resolving their enquiries, issues or challenges real time.

9. Employee Benefits program

This function allows corporation to access and modify the different aspects of the Employee Benefits program under the corporation established for their employees.

Merchant Interface

A screen shot of the merchant interface 1408 is shown in Figure 17. This includes the following options:

1. Profile Management

This function allows merchant to manage the all aspects of its profile (example, age, location, contact details, preferred mode of delivery, important dates, etc) in the UP system.

2. Reporting and Analytics

This function allows merchant to access the various reports and analytics in the UP system.

3. Contract Management

This function stores all the contract related information for which the merchant has set up with one or more consumer and/or corporation. It is a repository which stores scanned copies of the original contracts with consumer and/or corporation. It also allows the control of redemption and purchase rates with UP. In addition, it can amend the settings of alerts to warn the upcoming expiry of a contract.

4. Access Product Reviews

This function allows merchant to review all the user submitted reviews and ratings for their products.

5. Customer Service

This function allows merchant to get in touch with our Customer Service team via a webchat service, resolving their enquiries, issues or challenges real time.

6. Logistic & Tracking Management

This function allows merchant to view and track the delivery status of all redemptions.

7. Ads and Campaign Management

This function allows merchant to submit and modify the details of all advertising and campaigns running within UP owned sites, including merchants' Home pages hosted or powered by UP.

8. Inventory and Database Management

9. Online Auction and Exhibition Management

This function allows merchant to request to join any online auctions or exhibitions conducted via UP website. Merchant will need to provide relevant information on products, details of discounts and conditions applicable, etc.

Whilst exemplary embodiments of the invention have been described in detail, many variations are possible within the scope of the invention as claimed as will be clear to a skilled reader.

Claims

1. A loyalty system for exchanging points from a plurality of rewards programs comprising a plurality of consumer modules configured to accept login credentials from each consumer from those of the plurality of rewards programs for which that consumer is enrolled;

a server module configured to connect the plurality of consumer modules to the plurality of merchant servers, and storing programmed instructions configured to:

display the determined conversion as an offer to the consumer,

if the consumer accepts the offer, sending a debit request to the first rewards program at the respective merchant server and crediting the offered universal points to a UP account for the respective consumer.

2. The system in claim 1 wherein the server module configured storing further programmed instructions configured to

receive input from the consumer to exchange universal points to points from a first merchant reward program,

display the determined conversion as an offer to the consumer,

if the consumer accepts the offer, sending a credit request to the first rewards program at the respective merchant server and debiting the UP account for the respective consumer.

3. The system in claim 1 or 2 wherein the server module configured storing further programmed instructions configured to

receive input from the consumer to redeem universal points for goods or services from a first merchant reward program,

determine a conversion rate based on the goods or services, the first merchant rewards program and a real time currency exchange rate,

display the determined conversion as an offer to the^'consumer,

if the consumer accepts the offer, sending a credit request to the respective merchant server and debiting the UP account for the respective consumer.

4. The system in any preceding claim further comprising a currency conversion module configured to provide a real time currency conversion rate between a satellite currency of the first merchant reward program and a host currency of the system or the consumer

5. The system in claim 4 wherein the server module storing a plurality of an equivalent monetary values for a point in each respective merchant reward program, the equivalent monetary value being in a designated satellite currency of the respective merchant reward program.

6. The system in claim 5 wherein the determined conversion rate comprising the equivalent monetary value converted to the host currency of the system using the real time currency conversion rate from the satellite currency.

7. A system for arranging a contract between a consumer and a merchant, the system comprising

a negotiating module configured to provide an offer from a consumer and receive an acceptance of a merchant and/or provide an offer from a merchant and receive an acceptance of a consumer; and

a monitoring module configured to provide a report on compliance of the accepted offer.

8. A system for arranging a contract between a business and a merchant, the system comprising

a negotiating module configured to provide an offer from a business and receive an acceptance of a merchant and/or provide an offer from a merchant and receive an acceptance of a business; and

9. A method of customising a reward program for a merchant comprising:

registering a merchant,

receiving a catalogue of goods or services provided by the merchants,

receiving a satellite currency of the merchant,

receiving a settlement bank account of the merchant,

providing a rewards program interface for the merchant based on the catalogue, and settling a redemption request from a consumer for the goods or services based on the satellite currency and the settlement bank account.

10. A method for displaying reward redemption offers from a merchant comprising:

receiving a consumer section of a category of activities,

.searching for good and/or service in a catalogue bases on the selected activity, and displaying the searched good and/or service provided by the merchant under the selected activity .

11. A method of providing a concierge service to a consumer of a rewards program comprising:

receive input from the consumer to redeem points from a reward program for goods or services not associated with the reward program,

determine a supplier for the requested goods or services,

offer a price to the consumer, and

if the consumer accepts the offer, sending a credit request to the supplier and debiting a points account of the respective consumer.

12. The method in claim 11 further comprising automatically determining a plurality of suppliers for the requested goods or services; automatically requesting available quantity and/or price from the plurality of suppliers e requested goods or services;

automatically providing the offer to the consumer based on any replies to the request.