Debit purchasing of stored value card for use by and/or delivery to others

• US 20040064412A1
• Filed: 09/26/2003
• Published: 04/01/2004
• Est. Priority Date: 06/22/1998
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: Bank One Delaware National Association (JP Morgan Chase & Co)
• Inventors: Norwine, Jeffery A., Deporte, Rebecca, Phillips, Gregory Joseph, Joines, Penny B.
• Granted Patent: US 7,130,828 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/355 Personalisation of cards for use
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A method of issuing a purchase card is provided. The method includes the steps of presenting a purchaser with the opportunity to buy the purchase card, determining whether the purchaser has sufficient funds to pay for the purchase card, creating a purchase card account for a recipient designated by the purchaser, and issuing the purchase card. The purchase card may also be issued in connection with another credit card, for example as a rebate for purchases on the credit card. The purchase card may also be converted to a credit card.

Claims

1. A method for issuing a purchase card comprising:

presenting a purchaser with the opportunity to buy the purchase card;

determining whether the purchaser has sufficient funds to pay for the purchase card;

creating a purchase card account for a recipient designated by the purchaser; and

issuing the purchase card.

2. The method according to claim 1, where the recipient activates the purchase card.

3. The method according to claim 1, where the purchase card account contains a monetary amount determined by the purchaser.

4. The method according to claim 1, where money can be added to an issued purchase card account.

5. The method according to claim 2, where activating the purchase card comprises notifying the issuer of the purchase card that the recipient has received the purchase card.

6. The method according to claim 2, where activating the purchase card comprises the issuer of the purchase card notifying the purchaser that the purchase card has been received by the recipient.

7. The method according to claim 1, where the purchaser may designate merchants where the purchase card may be used.

8. The method according to claim 2, where the purchase card is active for a predetermined period of time.

9. A method for issuing a purchase card as a rebate award comprising:

issuing a credit card to a cardholder, said credit card being associated with a sponsor;

calculating a rebate amount based upon cardholder purchases made with said credit card;

creating a purchase card account for a recipient designated by the cardholder, the purchase card having a purchase value determined by said rebate amount; and

issuing the purchase card.

10. The method according to claim 9, where the recipient activates the purchase card.

11. The method according to claim 10, where the activation of the purchase card comprises notifying the issuer of the purchase card that the recipient has received the purchase card.

12. The method according to claim 9, where activation of the purchase card comprises activating the purchase card for a predetermined period of time.

13. The method according to claim 9, where the rebate is calculated based on all purchases made with the credit card.

14. The method according to claim 9, where the rebate is calculated based on purchases made with the credit card from the sponsor.

15. The method according to claim 9, where the rebate is calculated based on the monetary amount of the purchases.

16. The method according to claim 9, where the sponsor notifies the issuer of the amount of said rebate, and said issuer creates said purchase card.

17. A method of issuing a credit card comprising:

creating a purchase card account for a recipient designated by a purchaser;

issuing the purchase card;

receiving a request from the recipient to convert the purchase card into a credit card;

determining whether the recipient meets predetermined credit criteria to convert the purchase card into a credit card;

creating a credit card account; and

converting the purchase card into a credit card.

18. The method according to claim 17, where the balance of the purchase card account is transferred to the credit card account.

19. The method according to claim 17, where converting the purchase card to a credit card immediately activates the credit card.