System and method providing stored value payment in multiple level enterprise
First Claim
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5. The method of claim 1, further comprising:
- creating, in a database, a record for said purchaser including said stored value card reference number, a PIN associated with said purchaser and a PIN associated with a recruiting representative, said recruiting representative providing said stored value card to said purchaser.
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Abstract
A system, method and data structure for on-line settlement of amounts payable to different entities within a multiple level marketing enterprise proximate the time services and/or products are rendered. The invention provides that financial settlements be made substantially immediately among the MLM company, the up-line and down-line representatives and the customer. This is achieved by a method for settling the various financial transactions through stored values personal identification numbers (PINs).
69 Citations
15 Claims
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5. The method of claim 1, further comprising:
creating, in a database, a record for said purchaser including said stored value card reference number, a PIN associated with said purchaser and a PIN associated with a recruiting representative, said recruiting representative providing said stored value card to said purchaser. - View Dependent Claims (6, 7)
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8. A method for use in a multiple level marketing (MLM) system comprising a plurality of selling representatives financially cooperating in a hierarchical manner, said method comprising:
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providing, to a new selling representative in exchange for a first value, a stored value card having associated with it a stored value account of an initial value, a reference number and a first personal identification number (PIN);
registering said new selling representative within said MLM system using said stored value card reference number; and
crediting, to respective stored value accounts of selling representatives hierarchically superior to said new selling representative, respective apportioned commissions earned by the use of said stored value card, said stored value card account value being debited in response to said use and said credited commissions. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A data structure, comprising:
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a plurality of stored value accounts, each of said stored value accounts having associated with it a value parameter indicative of a present stored value, a personal identification number (PIN) indicative of an account owner logically linked to a stored value account of a selling representative;
wherein the value parameter of a stored value account used to effect a purchase is debited according to the value of said purchase; and
in the case of said purchase generating a commission, the value parameter of a logically linked stored value account is credited according to the value of said commission.
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Specification