Debit purchasing of stored value card for use by and/or delivery to others
First Claim
Patent Images
1. A method for conducting a transaction using a stored value card comprising:
- creating a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient, wherein the transaction request is a request for a transaction with a merchant;
transmitting the transaction request from the merchant to a central processor coupled to a database that stores a balance of the stored value card;
determining whether to approve the transaction based on whether the transaction amount exceeds the balance;
transmitting a transaction response to the merchant, wherein the transaction response approves or disapproves the transaction; and
whenever the transaction is approved, reducing the balance stored in the database by the transaction amount.
5 Assignments
0 Petitions
Accused Products
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.
-
Citations
40 Claims
-
1. A method for conducting a transaction using a stored value card comprising:
-
creating a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient, wherein the transaction request is a request for a transaction with a merchant;
transmitting the transaction request from the merchant to a central processor coupled to a database that stores a balance of the stored value card;
determining whether to approve the transaction based on whether the transaction amount exceeds the balance;
transmitting a transaction response to the merchant, wherein the transaction response approves or disapproves the transaction; and
whenever the transaction is approved, reducing the balance stored in the database by the transaction amount. - View Dependent Claims (2, 3, 4, 5)
-
-
6. A method for distributing a stored value card comprising:
-
receiving a payment of funds from a customer, wherein the payment is for the purchase of a stored value card by the customer;
receiving authentication information associated with the stored value card;
creating a stored value card account comprising;
a) a balance based on a payment of funds;
b) the stored value card authentication information; and
c) stored value card account information;
passing stored value card account creation information from a stored value card account vending entity to a central processor;
storing the balance, the stored value card authentication information and the stored value card account information in a database;
providing the stored value card to the customer; and
activating the stored value card. - View Dependent Claims (7, 8)
-
-
9. A system for conducting a transaction using a stored value card comprising:
-
a merchant unit configured to create and transmit a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient;
a central processor configured to perform the following functions;
determine whether to approve the transaction;
determine whether the transaction amount exceeds a balance for the stored value card stored in the database;
create and transmit a transaction response; and
whenever the transaction is approved, reduce the balance in the database by the transaction amount and pass transaction confirmation information to the merchant; and
a communication link between the merchant unit and the central processor for transmitting the transaction request and the transaction response.
-
-
10. A system for distributing a stored value card comprising:
-
an input device configured to receive a request to create a stored value card account associated with a stored value card, wherein the request is associated with a request to purchase a stored value card by a purchaser for a recipient, wherein the stored value card account comprises;
a) a balance based on a payment of funds, b) stored value card authentication information, and c) stored value card account information;
a central processor configured to create an account for the stored value card and store the balance, the stored value card authentication information, and the stored value card account information in a database, wherein the central processor is further configured to create and transmit an activation response; and
a communication link between the input device and the central processor configured to pass the request.
-
-
11. A system for conducting a transaction using a stored value card comprising:
-
means for creating a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient, wherein the transaction request is a request for a transaction with a merchant;
means for transmitting the transaction request from the merchant to a central processor coupled to a database that stores a balance of the stored value card;
means for determining whether to approve the transaction based on whether the transaction amount exceeds the balance;
means for transmitting a transaction response to the merchant, wherein the transaction response approves or disapproves the transaction; and
means for reducing the balance stored in the database by the transaction amount whenever the transaction is approved. - View Dependent Claims (12, 13, 14, 15)
-
-
16. A system for distributing a stored value card comprising:
-
receiving a payment of funds from a customer, wherein the payment is for the purchase of a stored value card by the customer;
receiving authentication information associated with the stored value card;
creating a stored value card account comprising;
a) a balance based on a payment of funds;
b) the stored value card authentication information; and
c) stored value card account information;
passing stored value card account creation information from a stored value card account vending entity to a central processor;
storing the balance, the stored value card authentication information and the stored value card account information in a database;
providing the stored value card to the customer; and
activating the stored value card. - View Dependent Claims (17, 18)
-
-
19. A method for conducting a transaction using a stored value card comprising:
-
receiving from a merchant terminal a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient;
determining whether to approve the transaction;
determining whether the transaction amount exceeds a balance for the stored value card stored in the database;
transmitting a transaction response via a communication link between the merchant unit and the central processor; and
whenever the transaction is approved, reducing the balance in the database by the transaction amount; and
passing transaction confirmation information to the merchant.
-
-
20. A method for distributing a stored value card comprising:
-
receiving a request to create a stored value card account associated with a stored value card, wherein the request is associated with a request to purchase a stored value card by a purchaser for a recipient, wherein the stored value card account comprises;
a) a balance based on a payment of funds, b) stored value card authentication information, and c) stored value card account information;
creating an account for the stored value card and store the balance, the stored value card authentication information, and the stored value card account information in a database, wherein the central processor is further configured to create and transmit an activation response; and
receiving the request at the central processor via a communication link between the input device and the central processor.
-
-
21. A method for conducting a transaction using a stored value card comprising:
-
creating a transaction request comprising a transaction amount and an identifier associated with a stored value card purchased by a purchaser for a recipient, wherein the transaction request is a request for a transaction with a merchant;
transmitting the transaction request from the merchant to a central processor coupled to a database that stores a balance of the stored value card, wherein the balance is stored in a stored value card account, and wherein the stored value card account further stores a stored value card number;
determining whether to approve the transaction based on whether the transaction amount exceeds the balance;
transmitting a transaction response to the merchant, wherein the transaction response approves or disapproves the transaction; and
whenever the transaction is approved, reducing the balance stored in the database by the transaction amount; and
obtaining stored value card account information and stored value card authentication information from at least one of the purchaser and the recipient.
-
-
22. (canceled)
-
23. (canceled)
-
24. (canceled)
-
25. (canceled)
-
26. (canceled)
-
27. (canceled)
-
28. (canceled)
-
29. (canceled)
-
30. (canceled)
-
31. (canceled)
-
32. (canceled)
-
33. (canceled)
-
34. (canceled)
-
35. (canceled)
-
36. (canceled)
-
37. (canceled)
-
38. (canceled)
-
39. (canceled)
-
40. (canceled)
Specification