SYSTEMS, METHODS, AND DEVICES FOR SELLING TRANSACTION ACCOUNTS

• US 20050154670A1
• Filed: 01/12/2004
• Published: 07/14/2005
• Est. Priority Date: 10/15/2003
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Scovel, Scott, Howland, Stephen, Peterson, Jeffrey, Philpott, Caroline, Heitz, Rachel, Rose, John, Lamb, Dave
• Granted Patent: US 8,046,299 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems

Abstract

Systems and methods are configured to facilitate the distribution of transaction accounts through distributors. An exemplary method includes the steps of: issuing a transaction account to a distributor, receiving information from the distributor via the MICR protocol used by the banking and financial services industries, wherein the information reports the distribution of the transaction account, and processing the information via a Travelers Cheque infrastructure. The transaction account may be a pre-paid card and the distributor may be a seller of pre-paid cards. Distribution of the transaction account may be facilitated by use of a sequential number, such as a Travelers Cheque number. Thus, the system may be configured to be compatible with existing Travelers Cheque communication systems already in place. Furthermore, a financial transaction device may include a card that bears a serialized number, such as a Travelers Cheque number, in a manner that can be read by MICR technology.

Claims

1. A method for facilitating distribution of a transaction account through a distributor, the method comprising the steps of:

issuing a transaction account to the distributor; and

receiving information from the distributor via a MICR protocol, wherein said information reports the distribution of said transaction account.

2. The method of claim 1, further comprising the step of activating said distributed transaction account.

3. The method of claim 1, wherein said transaction account is a card.

4. The method of claim 1, wherein said transaction account is a pre-paid card.

5. The method of claim 3, further comprising the steps of:

associating a first number with said card, wherein said first number is configured to conform to said MICR protocol, wherein said first number comprises, at least in part, a plurality of sequential numbers, wherein said card is one of a plurality of cards, and wherein said plurality of cards are consigned in groups with each card identified respectively by said plurality of sequential numbers; and

associating a second number with said card, wherein said second number is a randomized account number.

6. The method of claim 5, wherein a purchase agreement is associated with said card and bears indicia of said first number.

7. The method of claim 6, wherein said indicia of said first number is embodied in a MICR line visible on said purchase agreement form.

8. The method of claim 5, wherein said second number is an account number, wherein said distribution comprises a sale of said transaction account, and wherein the distributor is a third party seller.

9. The method of claim 1, further comprising the step of processing said information via a pre-established Travelers Cheque infrastructure.

10. The method of claim 8, further comprising the step of paying said third party seller a commission for said sale of said transaction account based on at least a portion of the information received from said third party seller.

11. The method of claim 2, further comprising a serial number and an account number, and wherein said activating step further comprises the step of confirming that activation is appropriate by confirming at least one of the following information received from said third party distributor:

a purchase location, said serial number and said account number.

12. A transaction account distribution device for facilitating the distribution of a card by a distributor, said transaction account distribution device comprising a card, wherein said card is also associated with a first number that is configured for communication in MICR protocol.

13. The financial transaction device of claim 12, wherein said first number is a serialized Travelers Cheque number.

14. The financial transaction device of claim 12, further comprising a purchase agreement form configured to bear a MICR line configured to be machine read for conveying said first number to a computer system.

15. The financial transaction device of claim 14, wherein said card is a pre-paid card.

16. A transaction account distribution device for facilitating the distribution of a card by a distributor, said transaction account distribution device comprising a card, wherein said card is also associated with a first number that is configured for processing by a Travelers Cheque infrastructure.

17. A system for facilitating distribution of a transaction account through a third party distributor comprising:

a transaction account issuing system configured to issue the transaction account to a distributor;

a distributor system configured distribute the transaction account and to communicate with the transaction account issuing system via a MICR protocol, wherein said communication provides information relating to the distribution of the transaction account.

18. The system of claim 17, wherein said transaction account is associated with a first number and a second number, and wherein said first number comprises, at least in part, a serialized number.

19. The system of claim 18, wherein said first number comprises a Travelers Cheque number, wherein said distributor system is a third party distributor system that is configured to communicate information related to the distribution of the transaction account to said transaction account issuing system;

and wherein said information is configured for processing via a Travelers Cheque infrastructure.

20. The system of claim 17, wherein said transaction account is a pre-paid card and wherein said pre-paid card is funded no earlier than the sale of said pre-paid card by the distributor.

21. A system for facilitating distribution of a transaction account through a distributor comprising:

a transaction account issuing system configured to consign the transaction account to a distributor; and

a distributor system configured distribute the transaction account and to communicate with the transaction account issuing system via a pre-established financial infrastructure.

22. A method for facilitating distribution of a transaction account through a distributor, the method comprising the steps of:

consigning a transaction account to the distributor; and

receiving information from the distributor and processing said information via a Travelers Cheque infrastructure, wherein said information reports the distribution of said transaction account.