The invention relates generally to retail transactions and, more particularly, to retail transaction systems and methods employing consumer preferences applicable to the transaction for goods and services. The customer profile may comprise customer preferences with regard to at least one method of payment. Based on the customer profile and/or other preference or transaction criteria, a preferred method of payment may be determined for a specific transaction. The provided methods, systems and processes may be used merely to identify a customer or in combination with transaction payment (e.g., payment for goods, services, or other financial transaction). The methods, systems and processes may also be used in combination with a loyalty program with a specific merchant or an association of merchants participating in a combined customer loyalty program.

According to one aspect of the present invention, there is provided a method of obtaining item data relating to purchases made by a customer during a retail transaction. The method comprises obtaining a digitized image of a retailer issued receipt, the receipt identifying purchases in a textual format, processing the digitized image to obtain computer readable data of information represented on the retailer issued receipt, determining, from the obtained computer readable data, item data relating to purchases identified on the receipt, obtaining a customer identifier identifying the customer's participation in a loyalty program system, and forwarding the obtained item data to a distribution system for onward distribution to the identified loyalty program system.

Methods of conducting customer loyalty programs to reward customers are disclosed herein. In a first aspect, the method comprises the steps of calculating a customer's reward (204) based on a company's forecasted revenue (201); and adjusting the customer's reward (204) in response to a profit target (205) which is associated with the forecasted revenue (201). In this way, the method allows a company to plan and adjust the rewards (204) to ensure that the profit target (205) is met.

Loyalty programs can be operated within a payment processing system having multiple vendors, thereby providing access to detailed transaction data and with the flexibility for customization of the loyalty programs themselves, by establishing a communication for the transfer of data via a customer-facing channel. When the payment processing system processes a transaction between a merchant and an account holder, in addition to obtaining payment for the merchant from the account via an acquirer and an issuer, respectively, a transaction handler tabulates and stores, different types of loyalty currencies in a loyalty reward account associated with the account holder if the account holder is enrolled in a loyalty program and criteria for applying the loyalty program are satisfied. The account holder is provided access to the loyalty account via the customer-facing channel.

The invention relates generally to retail transactions and, more particularly, to retail transaction systems and methods employing consumer preferences applicable to the transaction for goods and services. Methods, systems and processes are provided in which a customer is identified and associated with a customer profile and/or a method of payment corresponding to the customer. The customer profile may comprise customer preferences with regard to at least one method of payment. Based on the customer profile and/or other preference or transaction criteria, a preferred method of payment may be determined for a specific transaction. The provided methods, systems and processes may be used merely to identify a customer or in combination with transaction payment (e.g., payment for goods, services, or other financial transaction). The methods, systems and processes may also be used in combination with a loyalty program with a specific merchant or an association of merchants participating in a combined customer loyalty program.

A loyalty program tracking and conversion system that permits users to enter relevant information and data regarding frequent flyer or other loyalty programs whereby the system stores the information regarding the status of award points under the programs. The user can access this information via a communications network such as the Internet as well as shop for products and services from a variety of retailers. The system calculates an equivalent number of universal or system credits based on the award points from the various loyalty programs registered by the user. The user can use the credits to reduce the price of the products and services purchased through the system. These credits may be purchased for one′s own account or for others, transferred between accounts for a fee, and may also be purchased by business entities as incentives or considerations for employees or customers.

Methods and systems are presented for sending an update to a customer's loyalty program account through a credit card authorization response message as well as sending the update by SMS, MMS, or other electronic message to the customer's mobile phone or device. The electronic message can allow the user to switch between the type of loyalty points to be accrued as well as offer coupons and other incentives for further purchase. Store returns can update loyalty points and result in update messages as well.