×

Methods and systems for processing, accounting, and administration of stored value cards

  • US 20030144935A1
  • Filed: 01/30/2003
  • Published: 07/31/2003
  • Est. Priority Date: 01/30/2002
  • Status: Abandoned Application
First Claim
Patent Images

1. A method for completing a stored value card transaction utilizing a gateway into a national, ISO 8583 electronic funds transfer service, said method comprising:

  • receiving at the gateway an ISO 8583 formatted message originally generated by the point of sale system of a retail merchant;

    parsing the message into a series of data elements representing at least a transaction amount, a transaction type, a merchant ID, a bank identification number, an institution ID, a branch ID, and an account identifier;

    validating the merchant ID exists within the merchant database assigned to the issued card;

    routing the message through a switch controller to an account holder database based on the institution ID and the branch ID;

    accessing an account within the database utilizing the account key;

    determining if an account holder'"'"'s monetary balance in the account is greater than or equal to the transaction amount; and

    formatting transaction data, the transaction data including at least a transaction amount, a bank ID number, an institution ID, a branch ID, and an account key, into an ISO-8583 compatible message;

    transmitting one of an authorization approval or a denial based upon the determination.

View all claims
  • 4 Assignments
Timeline View
Assignment View
    ×
    ×