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

• US 20050127168A1
• Filed: 01/31/2005
• Published: 06/16/2005
• Est. Priority Date: 06/22/1998
• Status: Abandoned Application

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Norwine, Jeffery A., Deporte, Rebecca, Phillips, Gregory Joseph, Joines, Penny B.
• Application Number:
  US11/045,315
• Publication Number:
  US 20050127168A1
• Time in Patent Office: Days
• US Class Current: 235/380
• 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

1-19. -19. (canceled)

20. A computer-implemented method for an issuer to establish a stored value account of a customer, comprising:

receiving from a customer a request to establish a first account;

determining with a computer processor whether to establish the first account; and

presenting an offer to the customer to establish a second account, wherein the second account is a stored value account, and the stored value account comprises account information stored in a database, wherein the account information comprises;

a) an account number of the stored value account; and

b) a funding value of the stored value account.

21. The method of claim 20, wherein the act of determining whether to establish the first account comprises:

denying the request to establish the first account.

22. The method of claim 21, further comprising:

activating the stored value account, wherein the act of activating occurs after the denying action.

23. The method of claim 20, wherein the first account is a credit card account.

24. The method of claim 20, further comprising:

presenting the customer with an offer to convert the stored value account into a credit card account; and

converting the stored value account into a credit card account.

25. The method of claim 20, further comprising:

adding funds to the stored value account.

26. The method of claim 25, wherein the funds are added to the stored value account based on at least one of a purchase at a retail location and a loading of funds at a retail location.

27. The method of claim 20, wherein the stored value account is associated with a stored value card, further comprising:

issuing the stored value card to a customer, wherein the stored value card is marked with at least one of an indicia of a predetermined transaction network affiliated with the stored value card and an indicia of an issuer.

28. The method of claim 20, further comprising:

determining whether to establish the stored value account; and

receiving customer information, wherein the customer information is used to determine whether to establish at least one of the first account and the stored value account.

29. The method of claim 28, wherein the customer information comprises at least one selected from the list comprising a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the customer.

30. The method of claim 20, wherein the stored value account is usable for purchases on a predetermined transaction network, and wherein the stored value account is usable for transactions with merchants who accept transaction cards having an indicia of the predetermined transaction network, and wherein the stored value account is not tied to another account.

31. The method of claim 20, wherein the stored value account is associated with a stored value card, further comprising:

receiving notification from the customer that the stored value card has been received, wherein said notification occurs separate from the customer'"'"'s use of the card to execute a stored value card transaction;

verifying the identity of the customer; and

activating the stored value card based on the verification.

32. The method of claim 20, further comprising:

performing a security check of the customer;

activating the stored value account based on the security check.

33. The method of claim 20, wherein the security check comprises:

verifying the identity of the customer based on customer information, wherein the customer information comprises at least one selected from the list comprising a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the customer.

34. The method of claim 20, further comprising:

monitoring stored value account behavior.

35. The method of claim 20, further comprising:

monitoring account activity of the stored value account;

soliciting to convert the stored value account into a credit card account;

determining whether to convert the stored value account into a credit card account on the account activity.

36. The method of claim 20, further comprising:

receiving a request to convert the stored value account into a credit card account;

determining with a computer processor whether the customer meets predetermined credit criteria required for converting the stored value account into a credit card account; and

creating on a computer database a credit card account.

37. A system for an issuer to establish a stored value card account of a customer, comprising:

means for receiving from a customer a request to establish a first account;

means for determining with a computer processor whether to establish the first account; and

means for presenting an offer to the customer to establish a second account, wherein the second account is a stored value card account, and the stored value card account comprises account information stored in a database, wherein the account information comprises;

a) an account number of a stored value card; and

b) a funding value of the stored value card.

38. The system of claim 37, wherein the act of determining whether to establish the first account comprises:

means for denying the request to establish the first account.

39. The system of claim 38, further comprising:

means for activating the stored value card account, wherein the act of activating occurs after the denying action.

40. The system of claim 37, wherein the first account is a credit card account.

41. The system of claim 37, further comprising:

means for presenting the customer with an offer to convert the stored value card account into a credit card account; and

means for converting the stored value card account into a credit card account.

42. The system of claim 37, further comprising:

means for adding funds to the stored value card account.

43. The system of claim 42, wherein the funds are added to the stored value card account based on at least one of a purchase at a retail location and a loading of finds at a retail location.

44. The system of claim 37, further comprising:

means for issuing the stored value card to a customer, wherein the stored value card is marked with at least one of an indicia of a predetermined transaction network affiliated with the stored value card and an indicia of an issuer.

45. The system of claim 37, further comprising:

means for determining whether to establish the stored value card account; and

receiving customer information, wherein the customer information is used to determine whether to establish at least one of the first account and the stored value card account.

46. The system of claim 45, wherein the customer information comprises at least one selected from the list comprising a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the customer.

47. The system of claim 37, wherein the stored value card account is usable for purchases on a predetermined transaction network, and wherein the stored value card account is usable for transactions with merchants who accept transaction cards having an indicia of the predetermined transaction network, and wherein the stored value card account is not tied to another account.

48. The system of claim 37, further comprising:

means for receiving notification from the customer that the stored value card has been received, wherein said notification occurs separate from the customer'"'"'s use of the card to execute a stored value card transaction;

means for verifying the identity of the customer; and

means for activating the stored value card based on the verification.

49. The system of claim 37, further comprising:

means for performing a security check of the customer;

means for activating the stored value card account based on the security check.

50. The system of claim 37, wherein the security check comprises:

means for verifying the identity of the customer based on customer information, wherein the customer information comprises at least one selected from the list comprising a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the customer.

51. The system of claim 37, further comprising:

means for monitoring stored value card account behavior.

52. The system of claim 37, further comprising:

means for monitoring account activity of the stored value card account;

means for soliciting to convert the stored value card account into a credit card account;

means for receiving a request to convert the stored value card account into a credit card account;

means for determining whether to convert the stored value card into a credit card based on the account activity.

53. The system of claim 37, further comprising:

means for receiving a request to convert the stored value card into a credit card;

means for determining with a computer processor whether the customer meets predetermined credit criteria required for converting the stored value card into a credit card; and

means for creating on a computer database a credit card account.

54. A computer-implemented method for an issuer to establish a stored value card account of an offeree, comprising:

presenting an offeree with an offer to establish a credit card account;

receiving personal information of the offeree, wherein the personal information comprises at least one of a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the offeree;

determining using a computer processor whether to establish the credit card account based on a credit rating of the offeree;

denying the request based on the determining action;

creating in a database a stored value card account associated with the offeree, wherein the stored value card account comprises information of;

a) an account number of a stored value card; and

b) a funding value of the stored value card; and

after denying the request, activating the stored value card account.

55. A system for an issuer to establish a stored value card account of an offeree, comprising:

an output device that delivers an offer to establish a credit card account to an offeree;

an input device that receives personal information of the offeree, wherein the personal information comprises at least one of a name, an address, a credit card number, a social security number, a telephone number, and information indicating the age of the offeree;

a credit decisioning module that determines whether to deny the request based on credit rating information of the offeree;

a data storage module that creates in a database a stored value card account associated with the offeree, wherein the stored value card account comprises information of;

a) an account number of a stored value card; and

b) a funding value of the stored value card; and

an activation module that activates the stored value card account after the request is denied;

a fund loading module that adds funds to the stored value card account based on at least one of a purchase at a retail location and a loading of funds at a retail location.