Stored value card account transfer system

• US 20050127169A1
• Filed: 02/03/2005
• Published: 06/16/2005
• Est. Priority Date: 10/14/2003
• Status: Active Grant

• Current Assignee: CC Serve Corp. (Atlanticus Holdings Corporation)
• Original Assignee: CompuCredit LLC (Atlanticus Holdings Corporation)
• Inventors: Foss, Sheldon H. Jr.
• Granted Patent: US 7,325,725 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06F 21/31 User authentication
• CPC Class Codes: G06F 2221/2107 File encryption
• CPC Class Codes: G06F 2221/2117 User registration
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07C 9/33 by means of a password
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
• 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: G07F 7/1025 Identification of user by a PIN code
• CPC Class Codes: G07F 7/1075 PIN is checked remotely

Abstract

Systems, methods, computer programs, merchant terminals, etc. for transferring finds between stored value card accounts are provided. One embodiment comprises a method for loading a stored value card. One such method comprises: identifying a first stored value card account associated with a first customer; receiving a selection from the first customer of a second stored value card account associated with a second customer and a load amount for transferring to the second stored value card account; and initiating a funds transfer of the load amount from the first stored value card account to the second stored value card account.

Claims

1. A method for loading a stored value card, the method comprising:

prompting a first customer to swipe a stored value card;

identifying a first stored value card account associated with the stored value card;

prompting the first customer to select a second stored value card account to load and a load amount;

receiving the user selection of the second stored value card account and the load amount; and

transferring the load amount from the first stored value card account to the second stored value card account.

2. The method of claim 1, wherein the prompting a first customer to swipe a stored value card occurs at a merchant terminal.

3. The method of claim 1, wherein the transferring the load amount from the first stored value card program to the second stored value card account comprises:

deducting the load amount from the first stored value card account; and

adding the load amount to the second stored value card account.

4. The method of claim 1, further comprising applying a transaction fee to the first stored value card account.

5. The method of claim 1, further comprising applying a transaction fee to the second stored value card account.

6. A merchant terminal for providing stored value card services, the merchant terminal comprising:

a card reader for reading data from a stored value card associated with a first stored value card account of a first customer; and

a funds transfer module for enabling the first customer to transfer a specified load amount from the first stored value card account to a second stored value card account associated with a second customer.

7. The merchant terminal of claim 6, wherein the funds transfer module is supported by an interactive user interface.

8. The merchant terminal of claim 6, wherein the finds transfer module comprises:

logic configured to prompt the first customer to swipe a stored value card;

logic configured to identify the first stored value card account;

logic configured to prompt the first customer to select a second stored value card account to load and a load amount;

logic configured to receive the user selection of the second stored value card account and the load amount; and

transferring the load amount from the first stored value card account to the second stored value card account.

9. The merchant terminal of claim 6, wherein the funds transfer module comprises logic configured to apply a transaction fee to one of the first stored value card account and the second stored value card account.

10. A method for loading a stored value card, the method comprising:

identifying a first stored value card account associated with a first customer;

receiving a selection from the first customer of a second stored value card account associated with a second customer and a load amount for transferring to the second stored value card account; and

initiating a funds transfer of the load amount from the first stored value card account to the second stored value card account.

11. The method of claim 10, wherein the identifying, receiving, and initiating occur at a merchant terminal.

12. The method of claim 10, further comprising applying a transaction fee to the first stored value card account.

13. The method of claim 10, further comprising applying a transaction fee to the second stored value card account.

14. A system for providing stored value card services, the system comprising:

means for reading data from a stored value card associated with a first stored value card account of a first customer; and

means for enabling the first customer to transfer a specified load amount from the first stored value card account to a second stored value card account associated with a second customer.