System and method for chopping up and processing gift cards

• US 10,269,006 B2
• Filed: 01/13/2017
• Issued: 04/23/2019
• Est. Priority Date: 02/09/2009
• Status: Active Grant

• Current Assignee: GiftCodes.com, LLC
• Original Assignee: GiftCodes.com, LLC
• Inventors: Wolfe, Jason
• Primary Examiner(s): Haupt, Kristy A
• Application Number:
  US15/405,949
• Publication Number:
  US 20170132611A1
• Time in Patent Office: 830 Days
• CPC Class Codes: G06K 19/06028 using bar codes
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/354 Card activation or deactivation
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07F 7/127 in which both online and offline card verification can take place

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

Claims

1. A method comprising:

presenting an owner of a first prepaid gift with an offer to purchase a first prepaid gift account associated with the first prepaid gift for an offer amount;

based on an acceptance of the offer;

generating, via a secure gateway, a second prepaid gift account for a second prepaid gift;

loading, via the secure gateway, the second prepaid gift account with funds; and

offering the second prepaid gift account for sale as a new prepaid gift to a person other than the owner.

2. The method of claim 1, further comprising:

providing payment to the owner for the first prepaid gift account associated with the first prepaid gift.

3. The method of claim 1, further comprising loading the second prepaid gift account with funds equal to the first prepaid gift account.

4. The method of claim 1, further comprising suspending the first prepaid gift account.

5. The method of claim 4, further comprising suspending the first prepaid gift account based upon the acceptance of the offer.

6. The method of claim 1, wherein the second prepaid gift account is one of a closed loop gift code and open loop, and wherein information associated with the second prepaid gift account is delivered via electronic means and independent of a physical gift instrument.

7. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, and wherein information associated with the second prepaid gift account is delivered on a paper medium.

8. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, and wherein information associated with the second prepaid gift account is delivered via a bar code.

9. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, and wherein information associated with the second prepaid gift account is delivered via one of an application on a mobile telecommunications device, a mobile computing device, a personal computer, a gaming system, a satellite, and a cable television system.

10. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, and wherein information associated with the second prepaid gift account is delivered encoded on a physical card.

11. The method of claim 2, wherein the payment to the owner for the first prepaid gift account is at least one of cash, a check, a payment of a bill or debt of the owner, loading an amount to an existing credit, loading an amount to a new credit, a debit card, a prepaid gift, a deposit into to an existing bank account, and a deposit into to a new bank account.

12. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, wherein information associated with the second prepaid gift account is delivered via a text message.

13. The method of claim 1, wherein the second prepaid gift account is one of a closed loop and an open loop, wherein information associated with the second prepaid gift account is delivered via an electronic mail message.

14. A system comprising:

a processor;

a secure gateway operating on the system; and

a non-transitory memory storing instructions which, when executed by the processor, cause the processor to perform a method comprising;

presenting an owner of a first prepaid gift with an offer to purchase a first prepaid gift account associated with the first prepaid gift for an offer amount;

based on an acceptance of the offer;

generating, via the secure gateway, a second prepaid gift account for a second prepaid gift;

loading, via the secure gateway, the second prepaid gift account with funds; and

offering the second prepaid gift account for sale as a new prepaid gift to a person other than the owner.

15. The system of claim 14, wherein the non-transitory memory stores additional instructions which, when executed by the processor, cause the processor to perform operations further comprising:

providing payment to the owner for the first prepaid gift account associated with the first prepaid gift.

16. The system of claim 14, wherein the non-transitory memory stores additional instructions which, when executed by the processor, cause the processor to perform operations further comprising:

loading the second prepaid gift account with funds equal to the first prepaid gift account.

17. The system of claim 14, wherein the non-transitory memory stores additional instructions which, when executed by the processor, cause the processor to perform operations further comprising:

suspending the first prepaid gift account.

18. The system of claim 17, wherein the non-transitory memory stores additional instructions which, when executed by the processor, cause the processor to perform operations further comprising:

suspending the first prepaid gift account based upon the acceptance of the offer.

19. A non-transitory computer readable medium having stored therein instructions which, when executed by a processor, cause the processor to perform a method comprising:

presenting an owner of a first prepaid gift with an offer to purchase a first prepaid gift account associated with the first prepaid gift for an offer amount;

based on an acceptance of the offer;

generating, via a secure gateway, a second prepaid gift account for a second prepaid gift;

loading, via the secure gateway, the second prepaid gift account with funds; and

offering the second prepaid gift account for sale as a new prepaid gift to a person other than the owner.

20. The non-transitory computer readable medium of claim 19, wherein the non-transitory computer readable medium stores further instructions which, when asked by the processor, cause the processor to perform further operations comprising:

providing payment to the owner for the first prepaid gift account associated with the first prepaid gift.