CPC G06Q 40/02 (2013.01) [G06F 16/9535 (2019.01); G06Q 20/023 (2013.01); G06Q 20/042 (2013.01); G06Q 20/1085 (2013.01); G06Q 20/202 (2013.01); G06Q 20/342 (2013.01); G06Q 20/385 (2013.01); G06Q 20/4012 (2013.01); G06Q 30/0215 (2013.01); G06Q 30/0233 (2013.01); G06Q 30/0235 (2013.01); G06Q 30/0238 (2013.01); G06Q 2220/00 (2013.01)] | 12 Claims |
1. A method for person-to-person gifting of a cash-equivalent gift using reward points, comprising:
receiving, by a computer program executed by a financial institution backend and from an electronic device associated with a bank customer, a request to issue a cash-equivalent gift to a gift recipient based on reward points, the request identifying gift recipient contact information for the gift recipient and comprising a reward points amount and a date and time to send a notification of the cash-equivalent gift to the gift recipient;
converting, by the computer program, the reward points amount to the cash-equivalent gift;
creating, by the computer program, a redemption code for the gift recipient to receive the cash-equivalent gift at an Automated Teller Machine (ATM) or a point of sale device in an ATM network;
associating, by the computer program, the redemption code with the cash-equivalent gift;
sending, by the computer program, the notification comprising the redemption code to an electronic device associated with the gift recipient using the gift recipient contact information to redeem the cash-equivalent gift at the date and time in the request;
receiving, by the computer program and from the ATM or the point of sale device in the ATM network, the redemption code;
instructing, by the computer program, the ATM or the point of sale device to issue the cash-equivalent gift; and
debiting, by the computer program, a reward point account for the bank customer for the reward points amount after authorizing the device to issue the cash-equivalent gift.
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