System and method for currency selectable stored value instrument
First Claim
1. A system for processing stored value instruments, comprising:
- at least one transaction server;
an interface to at least one client terminal connected to the at least one transaction server via a communications link; and
means for loading value onto a stored value instrument using the at least one client terminal, wherein the value is loaded in a currency selected from at least two available currencies.
1 Assignment
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Accused Products
Abstract
The invention provides a currency selectable stored value instrument, whose currency may be chosen or converted at the time value is loaded, after load but prior to redemption of value, at the time of redemption, or at other times. One embodiment of the system is configured so that the stored value instrument may be a plastic card with a magnetic stripe, compatible with card readers on Automated Teller Machines (ATMs) or other terminals. In one embodiment, U.S. dollars may be converted to Mexican pesos when the stored value instrument is loaded at an ATM or other location in the United States. A user may subsequently redeem that value for legal tender in pesos at an ATM located in Mexico, for example, or for goods, services, or cash in other currencies.
231 Citations
36 Claims
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1. A system for processing stored value instruments, comprising:
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at least one transaction server;
an interface to at least one client terminal connected to the at least one transaction server via a communications link; and
means for loading value onto a stored value instrument using the at least one client terminal, wherein the value is loaded in a currency selected from at least two available currencies. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for processing stored value instruments, comprising:
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at least one transaction server;
an interface to at least one client terminal connected to the at least one transaction server via a communications link;
means for loading value onto a stored value instrument using the at least one client terminal, wherein the value is loaded in a currency selected from at least two available currencies; and
means for redeeming value on a stored value instrument, wherein the value is redeemed in another currency different from the loaded currency. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. A method for processing stored value instruments, comprising the steps of:
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loading value onto a stored value instrument in a first currency selected from at least two currencies; and
redeeming value on the stored value instrument in a second currency that differs from the first currency. - View Dependent Claims (20, 21, 22, 23, 24)
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25. A method for loading value onto a stored value instrument, comprising the steps of:
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a) receiving a load currency selection;
b) receiving a load value selection;
c) receiving notification that a funding source is in the same currency as the load currency;
d) receiving cash; and
e) loading value onto the stored value instrument.
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26. A method for loading value onto a stored value instrument, comprising the steps of:
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a) receiving a load currency selection;
b) receiving a load value selection;
c) receiving notification of a funding source that is in the same currency as the load currency;
d) eceiving authorization to debit a funding source account;
e) loading value onto the stored value instrument; and
f) reconciling with the funding source account.
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27. A method for loading value onto a stored value instrument, comprising the steps of:
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a) receiving a load currency selection;
b) receiving a load value selection;
c) receiving notification of a funding source that is not in the same currency as the load currency;
d) converting the load value and load currency into an equivalent value in funding source currency;
e) receiving cash; and
f) loading value onto the stored value instrument.
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28. A method for loading value onto a stored value instrument, comprising the steps of:
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a) receiving a load currency selection;
b) receiving a load value selection;
c) receiving notification of a funding, source that is not in the same currency as the load currency;
d) converting the load value and load currency into an equivalent value in funding source currency;
e) receiving authorization to debit a funding source account;
f) loading value onto the stored value instrument; and
g) reconciling with the funding source account.
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29. A method for redeeming value from a stored value instrument, comprising the steps of:
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a) identifying that a stored value is in a local currency;
b) identifying that the stored value is sufficient to complete a transaction;
c) providing value to a redeemer; and
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d) reconciling with the stored value instrument. - View Dependent Claims (30, 31, 32)
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33. A method for redeeming value from a stored value instrument, comprising the steps of:
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a) determining wither a stored value is in a local currency;
b) converting a transaction value from local currency to stored value currency if the stored value is not in a local currency;
c) determining whether the stored value is sufficient to complete a transaction;
d) declining the transaction if the stored value is insufficient;
e) providing value to a redeemer if the stored value is sufficient; and
f) reconciling with a stored value instrument if the stored value is sufficient. - View Dependent Claims (34, 35, 36)
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Specification