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

• US 20050097043A1
• Filed: 11/15/2004
• Published: 05/05/2005
• 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 7,363,273 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 computer-implemented method for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser; and

creating in a computer database an independent stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value account number; and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants affiliated with the transaction network.

2. The method of claim 1, further comprising:

issuing a stored value card associated with the stored value account, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer.

3. The method of claim 2, wherein the stored value account further comprises information about:

a cardholder'"'"'s name.

4. The method of claim 3, wherein the stored value card is further marked with the cardholder'"'"'s name at the time of issuance.

5. The method of claim 3, further comprising:

receiving notification from the cardholder that the stored value card has been received.

6. The method of claim 5, further comprising:

activating the stored value card based on the receiving action.

7. The method of claim 6, wherein activation of the stored value card comprises activating the stored value card for a predetermined period of time.

8. The method of claim 1, further comprising:

issuing a credit card to the purchaser, wherein the one or more purchases are made using a first card instrument.

9. The method of claim 8, wherein the purchaser designates a recipient of the stored value card.

10. The method of claim 9, wherein the purchaser and the recipient are the same.

11. The method of claim 8, wherein the credit card is associated with a sponsor.

12. The method of claim 11, wherein the merchants for which the stored value card is usable correspond to the sponsor.

13. The method of claim 8, wherein the credit card is associated with a sponsor, and wherein the rebate amount is determined based on purchases from entities affiliated with the sponsor, wherein the purchases are made using the credit card.

14. The method of claim 8, wherein the recipient may add funds to the stored value card account.

15. The method of claim 8, wherein the rebate amount is determined based on all purchases made with the credit card.

16. The method of claim 8, wherein the rebate amount is determined based only on purchases made with specific merchants.

17. The method of claim 1, further comprising:

establishing a name of the cardholder.

18. The method of claim 17, further comprising:

activating the card based on the establishing action.

19. The method of claim 17, wherein the act of establishing comprises receiving personal information from the stored value cardholder.

20. The method of claim 1, further comprising:

verifying the identity of the cardholder.

21. The method of claim 20, further comprising:

activating the card based on the verifying action.

22. The method of claim 21, wherein the act of verifying comprises receiving personal information from the stored value cardholder.

23. The method of claim 1, wherein the cardholder and the purchaser are the same entity.

24. The method of claim 1, wherein the cardholder may add funds to the stored value card account.

25. The method of claim 1, wherein the rebate amount is based on a monetary value associated with the one or more purchases.

26. The method of claim 1, wherein the rebate amount is based on the amount for the one or more purchases.

27. The method of claim 1, wherein the rebate amount is based on a flat percentage of the one or more purchases.

28. The method of claim 1, further comprising:

disclosing terms of the rebate amount determination to the purchaser, wherein the act of determining the rebate amount is in accordance with the disclosed terms.

29. The method of claim 1, wherein the predetermined transaction network and the issuer are the same.

30. The method of claim 1, further comprising:

receiving a request for a stored value card associated with the stored value account.

31. The method of claim 1, further comprising:

activating a stored value card associated with the independent stored value card account.

32. A computer-implemented method for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser using a credit card associated with a sponsor;

creating in a computer database an independent stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount;

receiving a request for a stored value card associated with the stored value account; and

issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor.

33. A computer-implemented method for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is usable with a sponsor, the method comprising:

determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser using a credit card associated with a sponsor;

creating in a computer database an independent stored value card account, the stored value card having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value card account number; and

b) a stored value card purchase amount; and

issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor.

34. A computer-implemented method for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining using a computer processor a rebate amount based upon one or more purchases made using a first card instrument of a purchaser;

creating in a computer database an independent stored value card account, the stored value card having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount; and

issuing the stored value card, wherein the stored value card is marked with the cardholder'"'"'s name at the time of issuance and at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer, and wherein the stored value card is usable for purchases at merchants affiliated with the transaction network.

35. A computer-implemented system for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the system comprising:

means for determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser;

means for creating in a computer database an independent stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value account number; and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants affiliated with the transaction network.

36. The system of claim 35, further comprising:

means for issuing a stored value card associated with the stored value account, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer.

37. The system of claim 36, wherein the stored value account further comprises information about:

cardholder'"'"'s name.

38. The system of claim 37, wherein the stored value card is further marked with the cardholder'"'"'s name at the time of issuance.

39. The system of claim 37, further comprising:

means for receiving notification from the cardholder that the stored value card has been received.

40. The system of claim 39, further comprising:

means for activating the stored value card based on the receiving action.

41. The system of claim 40, wherein the means for activating is further configured to activate the stored value card for a predetermined period of time.

42. The system of claim 35, further comprising:

means for issuing a credit card to the purchaser, wherein the one or more purchases are made using the first card instrument.

43. The system of claim 42, wherein the purchaser designates a recipient of the stored value card.

44. The system of claim 43, wherein the purchaser and the recipient are the same.

45. The system of claim 42, wherein the credit card is associated with a sponsor.

46. The system of claim 45, wherein the merchants for which the stored value card is usable correspond to the sponsor.

47. The system of claim 42, wherein the credit card is associated with a sponsor, and wherein the rebate amount is determined based on purchases from entities affiliated with the sponsor, wherein the purchases are made using the credit card.

48. The system of claim 42, wherein the recipient may add funds to the stored value card account.

49. The system of claim 42, wherein the rebate amount is determined based on all purchases made with the credit card.

50. The system of claim 42, wherein the rebate amount is determined based only on purchases made with specific merchants.

51. The system of claim 35, further comprising:

means for establishing a name of the cardholder.

52. The system of claim 51, further comprising:

means for activating the card based on the established name.

53. The system of claim 51, wherein the means for establishing a name is configured to receive personal information from the stored value cardholder.

54. The system of claim 35, further comprising:

means for verifying the identity of the cardholder.

55. The system of claim 54, further comprising:

means for activating the card based on a verification of the identity of the cardholder.

56. The system of claim 55, wherein the identify verification is based on receiving personal information from the stored value cardholder.

57. The system of claim 35, wherein the cardholder and the purchaser are the same entity.

58. The system of claim 35, wherein the cardholder may add funds to the stored value card account.

59. The system of claim 35, wherein the rebate amount is based on a monetary value associated with the one or more purchases.

60. The system of claim 35, wherein the rebate amount is based on the amount for the one or more purchases.

61. The system of claim 35, wherein the rebate amount is based on a flat percentage of the one or more purchases.

62. The system of claim 35, further comprising:

means for disclosing terms of the rebate amount determination to the purchaser, wherein the act of determining the rebate amount is in accordance with the disclosed terms.

63. The system of claim 35, wherein the predetermined transaction network and the issuer are the same.

64. The system of claim 35, further comprising:

means for receiving a request for a stored value card associated with the stored value account.

65. The system of claim 35, further comprising:

means for activating a stored value card associated with the independent stored value card account.

66. A computer-implemented system for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the system comprising:

means for determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser using a credit card associated with a sponsor;

means for creating in a computer database an independent stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount;

means for receiving a request for a stored value card associated with the stored value account; and

means for issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor.

67. A computer-implemented system for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is usable with a sponsor, the system comprising:

means for determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser using a credit card associated with a sponsor;

means for creating in a computer database an independent stored value card account, the stored value card having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value card account number; and

b) a stored value card purchase amount; and

means for issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor.

68. A computer-implemented system for an issuer to issue a stored value card as a rebate amount, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the system comprising:

means for determining using a computer processor a rebate amount based upon one or more purchases made using a first card instrument of a purchaser;

means for creating in a computer database an independent stored value card account, the stored value card having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount; and

means for issuing the stored value card, wherein the stored value card is marked with the cardholder'"'"'s name at the time of issuance and at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer, and wherein the stored value card is usable for purchases at merchants affiliated with the transaction network.

69. A computer-implemented system for an issuer to create a stored value account as a rebate amount, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the system comprising:

a computer processor for determining a rebate amount based upon one or more purchases made by a purchaser;

a computer storage system for storing an account file containing information about an independent stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value account number; and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants affiliated with the transaction network.

70. The system of claim 69, wherein the stored value card associated with the stored value account is issued to a cardholder, further comprising:

a marking device configured to mark the stored value card with at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer.

71. The system of claim 70, wherein the stored value account further comprises information about:

a cardholder'"'"'s name.

72. The system of claim 71, wherein the marking device is further configured to mark the stored value card with the cardholder'"'"'s name prior to the time of issuance.

73. The system of claim 71, further comprising:

an input device for receiving notification from the cardholder that the stored value card has been received.

74. The system of claim 73, further comprising:

an activation processor for activating the stored value card based on the receiving action.

75. The system of claim 74, wherein the activation processor is configured to activate the stored value card for a predetermined period of time.

76. The system of claim 74, wherein the activation processor is further configured to activate the card based on the verifying action.

77. The system of claim 75, wherein the activation processor is further configured to receive personal information from the stored value cardholder.

78. The system of claim 76, wherein the credit card is associated with a sponsor, and wherein the computer processor is configured to determine the rebate amount based on purchases from entities affiliated with the sponsor, wherein the purchases are made using the credit card.

79. The system of claim 76, wherein the computer processor is configured to determine the rebate amount based on all purchases made with the credit card.

80. The system of claim 76, wherein the computer processor is configured to determine the rebate amount based only on purchases made with specific merchants.

81. The system of claim 69, wherein the stored value card is usable with designated merchants.

82. The system of claim 81, wherein the merchants for which the stored value card is usable correspond to the sponsor.

83. The system of claim 69, wherein the computer processor is configured to determine the rebate amount based on a monetary value associated with the one or more purchases.

84. The system of claim 69, wherein the computer processor is further configured to determine the rebate amount based on the total amount of the one or more purchases.

85. The system of claim 69, wherein the computer processor is configured to determine the rebate amount based on a flat percentage of the one or more purchases.

86. The system of claim 69, further comprising:

an output device for passing information about terms of the rebate amount determination to the purchaser, wherein the rebate amount is determined in accordance with the terms.

87. The system of claim 69, wherein the predetermined transaction network and the issuer are the same.

88. The system of claim 69, further comprising:

an input device for receiving a request for a stored value card associated with the stored value account.

89. A computer-implemented method for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining using a computer processor a rebate amount based upon one or more purchases made by a purchaser using a credit card;

creating in a computer database an independent stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a stored value account number; and

b) a stored value purchase amount;

c) a cardholder'"'"'s name;

issuing a stored value card associated with the stored value account to a recipient designated by the purchaser, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer, wherein the stored value account is usable for purchases from merchants affiliated with the transaction network;

receiving notification that the stored value card has been received; and

activating the stored value card based on the notification.

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