DESC:FORM 2
THE PATENTS ACT 1970
39 OF 1970
&
THE PATENT RULES 2003
COMPLETE SPECIFICATION
(SEE SECTIONS 10 & RULE 13)
1. TITLE OF THE INVENTION

“SYSTEM AND A METHOD FOR CREDITING DYNAMIC REWARDS”
2. APPLICANTS (S)
NAME NATIONALITY ADDRESS

EWARDS ENGAGEMENT PRIVATE LIMITED
Indian
1 Shakespeare Sarani, No. 6C, 6th Floor, Kolkata – 700071, West Bengal, India
3. PREAMBLE TO THE DESCRIPTION

COMPLETE SPECIFICATION

The following specification particularly describes the invention and the manner in which it is to be performed.

SYSTEM AND A METHOD FOR CREDITING DYNAMIC REWARDS

TECHNICAL FIELD
[001] The present subject matter relates to a system and an associated method that is able to credit dynamic rewards to user. In particular, the present disclosure relates to the system that provides a ratio of redemption of credits which are fully dynamic. Moreover, the present subject matter discloses the system that creates an indirect ownership of the user through change in value of the underlying value index as selected by the system.
BACKGROUND
[002] Conventionally, the credit based system runs on a fixed percentage. The transaction amount is returned to the user in form credits that is redeemable in subsequent transactions that provide a fixed rate of discount for each credit. Herein, variable percentages of credits may only be awarded to users based on specific segmentation or day or time differential - but the value of the credits remain fixed according to a ratio of redemption value of each credit which is already coordinated in the system.
[003] Traditionally, the system available allows the users certain credits of fixed value at the time of transaction. The user may redeem the credits on subsequent transactions for a fixed value discount on their transaction billing value. However, such credits are not dynamic in nature and do not offer any special benefits to the users making purchases quite often. Towards this direction, there is a need to develop a system that is capable to provide dynamic benefits to the user and enable redemption of credits based on an underlying value of an index.

OBJECTS OF THE INVENTION
[004] Some of the objects of the present disclosure, which at least one embodiment herein satisfy, are listed herein below.
[005] It is an object of the present subject matter to overcome the aforementioned and other drawbacks existing in the prior art systems and methods.
[006] It is a significant object of the present subject matter to provide a system that is able to provide a variable benefit on the transactions made by a user.
[007] It is a principal object of the present subject matter to provide the system that provides a dynamic benefit to the user using the system.
[008] It is another object of the present subject matter to provide the system that is equipped with a gamification tool for user thereby increasing recurring transactions for getting higher benefits/rewards.
[009] It is still another object of the present subject matter to provide the system that provides financial literacy to the user.
[010] It is yet another object of the present subject matter to provide the system that is equipped with features for creating an indirect or direct ownership for the user.
[011] It is yet another object of the present subject matter to provide the system that is flexible in terms of offering benefits to the user depending on field of transaction of the user.
[012] These and other objects and advantages of the present subject matter, will be apparent to a person skilled in the art after consideration of the following detailed description, taken into consideration with accompanied drawings in which preferred embodiments of the present subject matter are illustrated.

SUMMARY OF THE INVENTION

[013] This summary is provided to introduce concepts related to a system and a method for crediting dynamic rewards The concepts are further described below in the detailed description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
[014] According to an embodiment of the present subject matter, there is provided a system for crediting dynamic rewards.
[015] In an aspect, the system comprises a central coordinating device having a memory unit, comprising a data storage unit and a data management unit, where the data storage unit and the data management unit are configured to store and manage identification details of a user, an accessing unit comprising a machine learning unit, where the machine learning unit is configured to obtain information related to transactions from the central coordinating device and determine dynamic credit units to be assigned to a user, a processing unit, where the processing unit is configured to check for positive and negative balance of an underlying index of the credit units available to the user.
[016] In an aspect, there is provided a processing device interlinked with the central coordinating device, where the processing device and the central coordinating device communicates with each other to update information to a user interface.
[017] In an aspect, the system is configured to provide a dynamic ratio of redemption of credits.
[018] In an aspect, the processing device comprises of a storage unit, an interface and a transmission unit.
[019] In an aspect, the accessing unit further comprises of a monitoring unit being embedded with a communication unit, where the communication unit after receiving information from the central coordinating device verifies details shared by the processing device through an interface and generates a one-time password to verify transaction.
[020] In an aspect, the dynamic credit units generated by the machine learning unit depends on increase/decrease of percentage value of the underlying index.
[021] In an aspect, there is provided a method for crediting dynamic rewards using a system. The method comprises selecting an underlying value of credit by a central coordinating device, determining percentage change of an underlying value of credit by a machine learning unit implemented inside the central coordinating device, issuing percentage change in the underlying value of credit to a user based on transaction value and the underlying index value by the central coordinating device, redeeming underlying value of credit by a processing device and verifying details shared by the processing device by the central coordinating device.
[022] In an aspect, the method includes prefetching the central coordinating device with an underlying index value and where the method further includes determining daily change in underlying value of index by the central coordinating device.
[023] In an aspect, the method includes recording updated value of the credit units as per change in the underlying index value by the central coordinating device.
[024] In an aspect, the method includes generating a one-time password as required to verify details by the central coordinating device.
[025] To further understand the characteristics and technical contents of the present subject matter, a description relating thereto will be made with reference to the accompanying drawings. However, the drawings are illustrative only but not used to limit the scope of the present subject matter.
[026] Various objects, features, aspects, and advantages of the inventive subject matter will become more apparent from the following detailed description of preferred embodiments, along with the accompanying drawing figures in which numerals represent like components.

BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWING(S)

[027] It is to be noted, however, that the appended drawings illustrate only typical embodiments of the present subject matter and are therefore not to be considered for limiting of its scope, for the invention may admit to other equally effective embodiments. The detailed description is given with reference to the accompanying figures. In the figures, a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the figures to reference like features and components. Some embodiments of system or methods or structure in accordance with embodiments of the present subject matter are now described, by way of example, and with reference to the accompanying figures, in which
[028] Figure 1 illustrates an exemplary system in accordance with an exemplary embodiment of the present disclosure;
[029] Figure 2 illustrates an exemplary block diagram of the central coordinating device present in the system for processing in accordance with an exemplary embodiment of the present disclosure; and
[030] Figure 3 discloses an exemplary method of working of the system in accordance with an exemplary embodiment of the present disclosure.
[031] The figures depict embodiments of the present subject matter for the purposes of illustration only. A person skilled in the art will easily recognize from the following description that alternative embodiments of the structures and methods illustrated herein may be employed without departing from the principles of the disclosure described herein.
DETAILED DESCRIPTION
[032] A few aspects of the present disclosure are explained in detail below with reference to the various figures. Example implementations are described to illustrate the disclosed subject matter, not to limit its scope, which is defined by the claims. Those of ordinary skill in the art will recognize a number of equivalent variations of the various features provided in the description that follows.
[033] While the embodiments of the disclosure are subject to various modifications and alternative forms, specific embodiment thereof have been shown by way of example in the figures and will be described below. It should be understood, however, that it is not intended to limit the disclosure to the particular forms disclosed, but on the contrary, the disclosure is to cover all modifications, equivalents, and alternative falling within the scope of the disclosure.
[034] The terms “comprises”, “comprising”, or any other variations thereof used in the disclosure, are intended to cover a non-exclusive inclusion, such that a device, system, assembly that comprises a list of components does not include only those components but may include other components not expressly listed or inherent to such system, or assembly, or device. In other words, one or more elements in a system or device proceeded by “comprises… a” does not, without more constraints, preclude the existence of other elements or additional elements in the system or device.
[035] The present disclosure focuses on a system (100) for providing dynamic value credits to the user. Herein, the proposed system (100) is not restricted to a fixed reward on the transactions made by a user and offers variable rewards. The rewards may also include discount as well. There are different components implemented in the system (100) which helps in proper operation.
[036] Figure 1 refers to the exemplary system (100) for providing a ratio of redemption of credits which are dynamic in nature and creates an indirect ownership of the user by changing the value of the underlying value index selected by the system (100).
[037] In an aspect, the system (100) comprises a central co-ordinating device (101), a processing device (201). The central co-ordinating device (101) and the processing device (201) communicates with each other and updates relevant information to a user interface (301).
[038] In an aspect, the central co-ordinating device (101) is equipped with a memory unit (102), an accessing unit (104) and a monitoring unit (106). The processing device (201), on the other hand includes a storage unit (202), an interface (204) and a transmission unit (206).
[039] Herein, as already mentioned, the central co-ordinating device (101) and processing device (201) are interlinked with one another and transmits data through a suitable channel for tracking and verification of the information of the user.
[040] Figure 2 refers to the block diagram of the central co-ordinating device (101) which is configured with different units for operation of the exemplary system (100).
[041] In an aspect, the central co-ordinating device (101) is provided with the memory unit (102) which has, a data storage unit (108) and a data management unit (110) that stores and manages information for example, name, address, contact details, etc. of an end user. The central co-ordinating device (101) is also equipped with a feature to verify details of the user and the transactions made by the user by sending a one-time password (OTP) to the user interface.
[042] In an aspect, the central co-ordinating device (101) is configured with the accessing unit (104) which has a processing unit (114) and a machine learning unit (112). Herein, the machine learning unit (112) receives information from the central co-ordinating device (101) regarding transactions made by the user and determines credit units that is to be allocated to the user based on certain predefined parameters. The processing unit (114) checks for the positive balance and negative balance of the underlying index of the credit units available to the user.
[043] In an aspect, the processing unit (114) creates credit issuance log in the database which is then stored in the data storage unit (108) and managed accordingly through the data management unit (110).
[044] In an aspect, the monitoring unit (106) is embedded with a communication unit (118) for communicating with the user. The communication unit (118) after receiving information from the central co-ordinating device (101) verifies details shared by the processing device (201) through an interface and generates a one-time password that is required to verify transaction. Herein, the communication unit sends the generated one-time password to the user.
[045] In an aspect, the exemplary system (100) is equipped with the machine learning unit (112) that assign the user with a dynamic value of credits. Herein, the dynamic value of credits may be a collaboration depending on increase and decrease of percentage value as well.
[046] In an aspect, the processing unit (114) may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, logic circuitries, and/or any devices that manipulate data based on operational instructions. Among other capabilities, the one or more processor(s) are configured to fetch and execute computer-readable instructions stored in the memory of the system (100). The memory may store one or more computer-readable instructions or routines, which may be fetched and executed to create or share data units over one or more communication networks. The memory may include any non-transitory storage device including, for example, volatile memory such as RAM, or non-volatile memory such as EPROM, flash memory, and the like.
[047] In an aspect, the interface(s) may include a variety of interfaces, for example, interfaces for data input and output device/s referred to as I/O devices, interfaces for communication device, storage devices, user interfaces and the like. The interface(s) may facilitate communication of the system (100) with various devices coupled to the system (100). The interface(s) may also provide a communication pathway for one or more components of the system (100). Examples of such components include, but are not limited to, processing device(s) and data storage. The interface(s) may additionally allow an interactive communication between the visitor and the system (100) so that the system (100) may fetch additional information depending upon interests of the visitor.
[048] In an aspect, the processing devices(s) (201) may be implemented as a combination of hardware and programming device(s) (for example, programmable instructions) to implement one or more functionalities of the processing device(s) (201). In examples described herein, such combinations of hardware and programming may be implemented in several different ways. In one example, the programming for the processing device(s) may be processor executable instructions stored on a non-transitory machine-readable storage medium and the hardware for the processing device(s) may include a processing resource (for example, one or more processors), to execute such instructions. In other examples, the processing devices(s) may be implemented by electronic circuitry.
[049] Figure 3 discloses an exemplary method (400) of working of the system in accordance with an exemplary embodiment of the present disclosure. The order in which the method (400) is described is not intended to be construed as a limitation, and any number of the described method blocks may be combined in any order to implement the method (400), or an alternative method. Furthermore, method (400) may be implemented by processing resource or computing device(s) through any suitable hardware, non-transitory machine-readable medium/instructions, or combination thereof.
[050] At block (402), the method (400) includes selecting (402) an underlying value of credit by the central coordinating device (101).
[051] At block (404), the method (400) includes determining (404) percentage change of an underlying value of credit by a machine learning unit (112) implemented inside the central coordinating device (101).
[052] At block (406), the method (400) includes issuing (406) percentage change in the underlying value of credit to a user based on transaction value and the underlying index value by the central coordinating device (101)
[053] At block (408), the method (400) includes redeeming (408) underlying value of credit by the processing device (201).
[054] At block (410), the method (400) includes verifying (410) details shared by the processing device (201) by the central coordinating device (101).
[055] In an aspect, the method (400) further includes the method (400) includes prefetching the central coordinating device (101) with an underlying index value. The method (400) further includes determining daily change in underlying value of index by the central coordinating device (101).
[056] In an aspect, the method (400) includes recording updated value of the credit units as per change in the underlying index value by the central coordinating device (101).
[057] In an aspect, the method (400) includes generating a one-time password as required to verify details by the central coordinating device (101).
[058] In an aspect, the exemplary method (400) for working of the system (100) is described below. The working of the system (100) in the present disclosure may be explained with reference to the following steps:
Step 1: Selection of an underlying value of credit

[059] The user provides information to a central co-ordinating device (101), which identify the user based on the information provided. The central co-ordinating device (101) selects and tracks the selected underlying value of credit based upon the pre-defined parameters fetched inside the machine learning unit (112), which also depends on the transaction made by the user. The central co-ordinating device (101) searches, fetches and records the redeemable value of underlying units of the user against the transaction made by the user. Thereinafter, the selected underlying value is activated and recorded based on the opening and closing value on daily basis. The central co-ordinating device (101) is pre-fetched with underlying index value at an initial level and determines change in the selected underlying index value on daily basis. The central co-ordinating device (101) further adjusts and records the updated value of the credit units as per the change in the underlying index value.

Step 2: Issuing of the underlying value of credit

[060] Now, the recorded current balance as in the previous step is adjusted through the central co-ordinating device (101) based on the change in the underlying value. The percentage change in the underlying value is determined by the machine learning unit (112) implemented in the central co-ordinating device (101) and the obtained dynamic value is stored in it. The percentage change in the underlying value is further issued to the user based on the transaction value and increase or decrease in the underlying index value as adjusted on a daily basis.

Step 3: Redemption of underlying value

[061] Now, if the user requests for redemption of the underlying value against the already available rewards, the processing device (201) fetches the unit balance of the credit index available to the user, and verifies change in the underlying value, which has been already determined using the central co-ordinating device (101) as mentioned in the step 2. Now, the processing device (201) determines the value that may be redeemable to the user based on the credit balance and the updated underlying index value. Thereinafter, the maximum redeemable value based on the current transaction value is determined.

[062] Upon finalising the redeemable value, the processing device (201) shares the same with the communication unit (118). Further, the central co-ordinating device (101) after receiving information, verifies details shared by the processing device (201) through an interface and generates a one-time password that is required to verify transaction. Thus, the redemption transaction is created after authentication through the processing device (201).
[063] Advantages
i) The proposed system (100) is having the following advantages:
ii) The system (100) is capable of providing dynamic rewards to the user based on predefined parameters
iii) The system (100) is flexible and is capable of providing a dynamic value to credit balance available to a user by tracking and adjusting with changes in an underlying unit index value.
iv) The system (100) enables regular tracking of underlying index
v) The system (100) is user-friendly
vi) The system (100) is easy to implement
Equivalents
[064] It should be noted that the description and figures merely illustrate the principles of the present subject matter. It should be appreciated by those skilled in the art that conception and specific embodiment disclosed may be readily utilized as a basis for modifying or designing other structures for carrying out the same purposes of the present subject matter. It should also be appreciated by those skilled in the art that by devising various systems that, although not explicitly described or shown herein, embody the principles of the present subject matter and are included within its spirit and scope. Furthermore, all examples recited herein are principally intended expressly to be for pedagogical purposes to aid the reader in understanding the principles of the present subject matter and the concepts contributed by the inventor(s) to furthering the art and are to be construed as being without limitation to such specifically recited examples and conditions. The novel features which are believed to be characteristic of the present subject matter, both as to its organization and method of operation, together with further objects and advantages will be better understood from the above-mentioned description when considered in connection with the accompanying figures.
[065] Although embodiments for the present subject matter have been described in language specific to package features, it is to be understood that the present subject matter is not necessarily limited to the specific features described. Rather, the specific features and methods are disclosed as embodiments for the present subject matter. Numerous modifications and adaptations of the system/device of the present invention will be apparent to those skilled in the art, and thus it is intended by the appended claims to cover all such modifications and adaptations which fall within the scope of the present subject matter.
[066] It will be understood by those within the art that, in general, terms used herein, and especially in the appended claims (e.g., bodies of the appended claims) are generally intended as “open” terms (e.g., the term “including” should be interpreted as “including but not limited to,” the term “having” should be interpreted as “having at least,” the term “includes” should be interpreted as “includes but is not limited to,” etc.). It will be further understood by those within the art that if a specific number of an introduced claim recitation is intended, such an intent will be explicitly recited in the claim, and in the absence of such recitation no such intent is present. For example, as an aid to understanding, the following appended claims may contain usage of the introductory phrases “at least one” and “one or more” to introduce claim recitations. However, the use of such phrases should not be construed to imply that the introduction of a claim recitation by the indefinite articles “a” or “an” limits any particular claim containing such introduced claim recitation to inventions containing only one such recitation, even when the same claim includes the introductory phrases “one or more” or “at least one” and indefinite articles such as “a” or “an” (e.g., “a” and/or “an” should typically be interpreted to mean “at least one” or “one or more”); the same holds true for the use of definite articles used to introduce claim recitations. In addition, even if a specific number of an introduced claim recitation is explicitly recited, those skilled in the art will recognize that such recitation should typically be interpreted to mean at least the recited number (e.g., the bare recitation of “two recitations,” without other modifiers, typically means at least two recitations, or two or more recitations). Furthermore, in those instances where a convention analogous to “at least one of A, B, and C, etc.” is used, in general such a construction is intended in the sense one having skill in the art would understand the convention (e.g., “a system having at least one of A, B, and C” would include but not be limited to systems that have A alone, B alone, C alone, A and B together, A and C together, B and C together, and/or A, B, and C together, etc.). In those instances, where a convention analogous to “at least one of A, B, or C, etc.” is used, in general such a construction is intended in the sense one having skill in the art would understand the convention (e.g., “a system having at least one of A, B, or C” would include but not be limited to systems that have A alone, B alone, C alone, A and B together, A and C together, B and C together, and/or A, B, and C together, etc.). It will be further understood by those within the art that virtually any disjunctive word and/or phrase presenting two or more alternative terms, whether in the description, claims, or drawings, should be understood to contemplate the possibilities of including one of the terms, either of the terms, or both terms. For example, the phrase “A or B” will be understood to include the possibilities of “A” or “B” or “A and B.”
[067] It will be further appreciated that functions or structures of a plurality of components or steps may be combined into a single component or step, or the functions or structures of one-step or component may be split among plural steps or components. The present invention contemplates all these combinations. Unless stated otherwise, dimensions and geometries of the various structures depicted herein are not intended to be restrictive of the invention, and other dimensions or geometries are possible. In addition, while a feature of the present invention may have been described in the context of only one of the illustrated embodiments, such feature may be combined with one or more other features of other embodiments, for any given application. It will also be appreciated from the above that the fabrication of the unique structures herein and the operation thereof also constitute methods in accordance with the present invention. The present invention also encompasses intermediate and end products resulting from the practice of the methods herein. The use of “comprising” or “including” also contemplates embodiments that “consist essentially of” or “consist of” the recited feature.
,CLAIMS:We Claim:

1. A system (100) for crediting dynamic rewards, the system (100) comprising:
a central coordinating device (101) having
a memory unit (102), comprising a data storage unit (108) and a data management unit (110), wherein the data storage unit (108) and the data management unit (110) are configured to store and manage identification details of a user,
an accessing unit (104) comprising:
a machine learning unit (112), wherein the machine learning unit (112) is configured to obtain information related to transactions from the central coordinating device (101) and determine dynamic credit units to be assigned to a user,
a processing unit (114), wherein the processing unit (114) is configured to check for positive and negative balance of an underlying index of the credit units available to the user; and
a processing device (201) interlinked with the central coordinating device (101), wherein the processing device (201) and the central coordinating device (101) communicates with each other to update information to a user interface (301),
wherein the system (100) is configured to provide a dynamic ratio of redemption of credits.
2. The system (100) as claimed in claim 1, wherein the processing device (201) comprises of a storage unit (202), an interface (204) and a transmission unit (206).
3. The system (100) as claimed in claim 1, wherein the accessing unit (104) further comprises a monitoring unit (106) being embedded with a communication unit (118), wherein the communication unit (118) after receiving information from the central coordinating device (101) verifies details shared by the processing device (201) through an interface and generates a one-time password to verify transaction.
4. The system (100) as claimed in claim 1, wherein the dynamic credit units generated by the machine learning unit (112) depends on increase/decrease of percentage value of the underlying index.
5. A method (400) for crediting dynamic rewards using a system (100), the method (400) comprising:
selecting (402) an underlying value of credit by a central coordinating device (101);
determining (404) percentage change of an underlying value of credit by a machine learning unit (112) implemented inside the central coordinating device (101);
issuing (406) percentage change in the underlying value of credit to a user based on transaction value and the underlying index value by the central coordinating device (101);
redeeming (408) underlying value of credit by a processing device (201); and
verifying (410) details shared by the processing device (201) by the central coordinating device (101).
6. The method (400) as claimed in claim 5, wherein the method (400) includes prefetching the central coordinating device (101) with an underlying index value and wherein the method (400) includes determining daily change in underlying value of index by the central coordinating device (101).
7. The method (400) as claimed in claim 6, wherein the method (400) includes recording updated value of the credit units as per change in the underlying index value by the central coordinating device (101).
8. The method (400) as claimed in claim 5, wherein the method (400) includes generating a one-time password as required to verify details by the central coordinating device (101).

Dated this 14th day of November, 2022

TRISITA NANDY CHATTERJEE
PATENT AGENT
IN/PA – 4963
OF L. S. DAVAR & CO.