Computer implemented flexible benefit plan host based stored value card product
First Claim
1. A method of processing transactions in response to a financial card presented as payment of a purchase of goods and services, comprising the steps of:
- determining if the purchase of goods and services is a purchase of third party administrator benefit plan approved goods and services, determining if sufficient funds are available in a restricted account fund bucket with an amount of restricted funds for the purchase of third party administrator benefit plan approved goods and services to cover a cost of the purchase of third party administrator benefit plan approved goods and services, deducting the cost of the purchase of third party administrator benefit plan approved goods and services from the restricted funds in the restricted account fund bucket, determining if partial funds are available in the restricted account fund bucket for the cost of purchase of third party administrator benefit plan approved goods and services, determining if funds are available in an unrestricted account fund bucket with an amount of unrestricted funds for a balance of the cost of the purchase of third party administrator benefit plan approved goods and services, deducting the partial amount of funds from the restricted account fund bucket, deducting the balance of the cost of the purchase from the unrestricted account fund bucket, determining if funds are available in the unrestricted account fund bucket for a purchase of goods and services that are not approved third party administrator benefit plan, deducting the amount of funds from the first unrestricted account fund bucket for the purchase of goods and services that are not approved third party administrator benefit plan, denying approval of a requested purchase of goods and services if funds are not available.
1 Assignment
0 Petitions
Accused Products
Abstract
A system, method, computer program and product to allow a card processor to use a single card with a card account number for payment from different account fund buckets. The first account fund bucket is an unrestricted general account fund bucket with funds available to make purchases of goods and services. The second account fund bucket is a restricted account fund bucket that can be used for the purchase of third party administrator approved goods and services. The card processor determines if a transaction is for third party administrator approved goods and services. If the requested transaction is for approved goods and services, the card processor deducts the costs of the approved goods and services first from the second restricted account fund bucket, and then from the first unrestricted account fund bucket. If sufficient funds are not available in the multiple account buckets, the card processor denies the requested transaction.
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Citations
21 Claims
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1. A method of processing transactions in response to a financial card presented as payment of a purchase of goods and services, comprising the steps of:
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determining if the purchase of goods and services is a purchase of third party administrator benefit plan approved goods and services, determining if sufficient funds are available in a restricted account fund bucket with an amount of restricted funds for the purchase of third party administrator benefit plan approved goods and services to cover a cost of the purchase of third party administrator benefit plan approved goods and services, deducting the cost of the purchase of third party administrator benefit plan approved goods and services from the restricted funds in the restricted account fund bucket, determining if partial funds are available in the restricted account fund bucket for the cost of purchase of third party administrator benefit plan approved goods and services, determining if funds are available in an unrestricted account fund bucket with an amount of unrestricted funds for a balance of the cost of the purchase of third party administrator benefit plan approved goods and services, deducting the partial amount of funds from the restricted account fund bucket, deducting the balance of the cost of the purchase from the unrestricted account fund bucket, determining if funds are available in the unrestricted account fund bucket for a purchase of goods and services that are not approved third party administrator benefit plan, deducting the amount of funds from the first unrestricted account fund bucket for the purchase of goods and services that are not approved third party administrator benefit plan, denying approval of a requested purchase of goods and services if funds are not available. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A financial card system in response to processing transactions for a financial card presented for payment, the financial card system comprising a:
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a card processor connected to a card reader through a financial network for receiving and processing data relating to a transaction for the financial card presented for payment, the card processor performing the steps of;
determining if the purchase of goods and services is a purchase of third party administrator benefit plan approved goods and services, determining if sufficient funds are available in a restricted account fund bucket with an amount of restricted funds for the purchase of third party administrator benefit plan approved goods and services to cover a cost of the purchase of third party administrator benefit plan approved goods and services, deducting the cost of the purchase of third party administrator benefit plan approved goods and services from the restricted funds in the restricted account fund bucket, determining if partial funds are available in the restricted account fund bucket for the cost of purchase of third party administrator benefit plan approved goods and services, determining if funds are available in an unrestricted account fund bucket with an amount of unrestricted funds for a balance of the cost of the purchase of third party administrator benefit plan approved goods and services, deducting the partial amount of funds from the restricted account fund bucket, deducting the balance of the cost of the purchase from the unrestricted account fund bucket, determining if funds are available in the unrestricted account fund bucket for a purchase of goods and services that are not approved third party administrator benefit plan, deducting the amount of funds from the first unrestricted account fund bucket for the purchase of goods and services that are not approved third party administrator benefit plan, denying approval of a requested purchase of goods and services if funds are not available. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A computer program product stored in signal bearing media for causing a computer processor to process transactions in response to a financial card presented for payment of a purchase of goods and services, the computer program product containing instructions stored in machine-readable code and causing the computer processor to perform the following steps:
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determining if the purchase goods and services is a purchase of third party administrator benefit plan approved goods and services, determining if sufficient funds are available in a restricted account fund bucket for the purchase of third party administrator benefit plan approved goods and services, deducting a cost of purchase of third party administrator benefit plan approved goods and services from the funds in the restricted account fund bucket, determining if partial funds are available in the second restricted account fund bucket for the purchase of third party administrator benefit plan approved goods and services, determining if sufficient funds are available in the first unrestricted account fund bucket for a balance of the cost of third party administrator benefit plan approved goods and services, deducting the partial amount of funds from the second restricted account fund bucket, deducting the balance of the cost of funds from the first unrestricted account fund bucket, determining if sufficient funds are available in the first unrestricted account fund bucket, deducting the amount of funds from the first unrestricted account fund bucket, denying approval of the requested purchase of goods and services if funds are not available. - View Dependent Claims (14, 15, 16, 17, 18)
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19. A financial card comprising:
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a card with indicia thereon defining a card account number, the card having data storage areas thereon for storing electronic data regarding a first and a second associated account fund buckets, the first account fund bucket data storage area storing data regarding funds available for unrestricted purchase of goods and services, the second account fund bucket data storage area storing data regarding having funds available for restricted purchases of goods and services for third party administrator benefit plan approved goods and services. - View Dependent Claims (20, 21)
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Specification