Point Clearing House
A system for exchanging and valuing points or rewards from a plurality of loyalty programs using a “settlement point” in a clearinghouse to settle, convert credit and debit points between accounts regardless of the type of goods or services. The points are underwritten using assets and guarantees held by a custodian, relying on actuarial estimates of redemption. The points are also used as assets for securities, thereby facilitating the valuing and liquidity of the settlement points, or as assets to secure financial or insurance services.
The main aspects of the present interface is to create “settlement points” that are exchangeable against the points from a plurality of loyalty programs. The settlement points are managed through a clearing house. The clearinghouse provides the ability to settle, convert credit and debit points between accounts maintained by member merchants or customers.
Eniac Clearing House Core
Processing and clearing solutions offered by Eniac Clearance manages flows between the merchant’s back office system and our clearing platform which can be exchanged, calculated every month in a real time process giving the customers ready access to clearing in Product or Service mode, as desired.
The system brings universality to loyalty programs and points redemption wherein points can be redeemed for any type of goods or services. It builds more real and perceived value for the customers by rewarding them with a loyalty program that gives flexibility as the points used can be redeemed at any system participant.
The ability to exchange settlement points for loyalty program points provides the awarding or redeeming merchant with an opportunity to leverage the loyalty program to provide temporary or consistent positive cash flow with the sale of the rewards or points in the public market using settlement points as an underlying guarantee of redemption.
Building integrity into the creation and redemption process of settlement points provides the opportunity to underwrite the settlement points using assets and guarantees held by a custodian, using actuarial estimates of redemption to leverage the assets and using the settlement points as assets for securities, insurance, financing, credit lines. It provides the opportunity to build a trust structure to hold these assets, which trust (through an issuer) grants and holds credit line receivables of participants and which trust can issue securities to finance the receivables using the settlement points and receivables related assets as underlying security.
We have provided a method of enabling the seamless exchange, regardless of the goods or services, of loyalty points or loyalty rewards based on a centralized clearinghouse. Settlement points are used to settle, convert, credit and debit points between accounts as transmitted through a network and as an asset. An agreement is established between the organization which enables their loyalty program and an authorized issuer of the settlement points. This establishes both a quantitative and a qualitative relationship between all parties, provides participants with a mechanism to leverage their loyalty programs and to sell rewards based on ratios of settlement points. It also allows the use of the settlement points as an asset to support insurance, securities, trusts and clearinghouses and using the trusts through the issuer to grant credit lines to participants.
This “settlements points” data can also be used to develop futures and options products based on the quantity, time and type of settlement points which are transacted. These options and futures can be formed into an index or other types of products and sold through regulated exchanges or as lawfully allowed through the settlement points clearing house affiliates.
We provide the mechanism that ties all elements of the program together in a manner that’s logical, operationally coherent and procedurally sound. It’s a mechanism that provides overall control of the entire process. It’s a versatile, flexible system built by SHETAK (Iran Point Center), based on practical, hands-on experience. We design it to look, feel and act like your existing platform allowing you to brand it as part of your ongoing connection to loyal customers.
Our interface, with appropriate customization, “speaks” to your existing loyalty platform about share purchases and conveys data to the Plan Administrator, in a pre-specified format, controlling the data traffic between the Plan Administrator, the loyalty platform and plan participants. Our interface also manages participant enrollment from participants and disseminates statements and other pertinent documents.
Our interface, in short, bears the brunt of whatever customization might be necessary to put the program in place. Point Clearing House is an account management and transaction settlement system for general purpose. It is a transaction settlement and account management system which can be tailored for any kind of use. SHETAK is able to handle multiple balance point records with multi-currency infrastructure.