Debit Purchasing Of Stored Value Card For Use By And/Or Delivery To Others

• US 20070226141A1
• Filed: 05/31/2007
• Published: 09/27/2007
• Est. Priority Date: 06/22/1998
• Status: Active Grant

• 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: Joines, Penny, Phillips, Gregory, Deporte, Robecca, Norwine, Jeffery
• Granted Patent: US 7,805,368 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

1-89. -89. (canceled)

90. A method for transferring cash from a sender to a receiver, the method comprising:

a receiver obtaining an unactivated purchase card including an identification number, indicia identifying an organization sponsor and an encodable portion for recording a variable amount of value;

the receiver contacting an agent for activation of the purchase card;

the receiver providing security information to the agent;

the agent activating the purchase card;

the sender providing funds for crediting to the purchase card; and

crediting the purchase card with the funds wherein the purchase card is usable by the receiver for transactions.

98. A method for transferring cash from a sender to a receiver, the method comprising:

a receiver obtaining an unactivated purchase card including;

an identification number, indicia identifying an organization sponsor, and an encodable portion for recording a variable amount of value;

the receiver contacting an agent for activation of the purchase card;

the receiver providing security information to the agent;

the agent activating the purchase card;

notifying the sender that the purchase card has been received;

the sender providing funds for crediting to the purchase card; and

crediting the purchase card with the funds.