Obtaining Transaction Accounts Using Identification Cards

• US 20070228153A1
• Filed: 04/04/2006
• Published: 10/04/2007
• Est. Priority Date: 04/04/2006
• 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: ERIKSON, Glade
• Granted Patent: US 7,669,758 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A system, method, and computer program product are used to obtain a transaction account. The system comprises at least one input device, at least one credit requesting system, at least one transaction account provider, and at least one credit reporting agency. The input device receives an identification card (e.g., driver'"'"'s license) and possibly additional information from an individual. The data is then used to automatically generate a transaction account application The transaction account provider receives and evaluates the transaction account application. The credit requesting system is coupled to the transaction account provider and the at least one input device. The credit requesting system controls transmission of the transaction account application to the transaction account provider and receives the evaluation result from the transaction account provider.

Claims

1. A method for obtaining a transaction account, comprising:

(a) receiving an identification card to identify an individual;

(b) automatically determining the validity of the identification card;

(c) automatically entering data pertaining to the individual into a transaction account application, said data being received from the identification card;

(d) transmitting the completed transaction account application from an input device to a transaction account provider;

(e) evaluating the transaction account application; and

(f) transmitting the result of the evaluation back to the input device.

2. The method of claim 1, wherein step (c) further comprises requiring said individual to review said data on the transaction account application, and if necessary, to:

(i) correct said data; and

/or

(ii) provide additional data.

3. The method of claim 2, wherein the additional data provided in step (c)(ii) comprises at least a Social Security Number or a Partial Social Security Number.

4. The method of claim 1, further comprising:

requesting a search of a database of at least one credit reporting agency using the data provided by the identification card to evaluate the transaction account application.

5. The method of claim 1, further comprising:

(g) automatically comparing the data read from the identification card with a database of known identification cards; and

(h) automatically determining the validity of the identification card using the result of the database comparison.

6. The method of claim 5, further comprising:

entering the identification card data into a database of counterfeit identification cards, if said identification card is determined to be invalid.

7. The method of claim 1, wherein steps (a)-(f) are performed at different physical locations.

8. The method of claim 1, wherein steps (a)-(c) are performed in one of a public place, a store, and a point-of-sale area.

9. A system for obtaining a transaction account, comprising:

at least one input device that reads an identification card of an individual and automatically prepares a transaction account application;

at least one transaction account provider coupled to the at least one input device, wherein the transaction account provider evaluates the transaction account application;

at least one credit reporting agency coupled to at least one transaction account provider, wherein the credit reporting agency transmits a credit report to the transaction account provider; and

at least one credit requesting system coupled to the at least one input device, the at least one transaction account provider, and the at least one credit reporting agency, the credit requesting system facilitating transmission of the transaction account application to and from the input device and the transaction account provider.

10. The system of claim 9, further comprising:

a network coupling together the at least one input device, the at least one credit requesting system, the at least one transaction account provider, and the at least one credit reporting agency.

11. The system of claim 10, wherein the at least one input device comprises a card reader.

12. The system of claim 11, wherein the at least one input device and the at least one credit requesting system are located in one of a public place, a store, and a point-of-sale area.

13. A computer program product for obtaining a transaction account, the computer program product comprising a computer readable medium having control logic stored therein, said control logic comprising:

first computer readable program code means for causing the computer to automatically receive identification of an individual based on data read from an identification card;

second computer readable program code means for causing the computer to receive additional identifying information from the individual;

third computer readable program code means for causing the computer to complete a transaction account application using the data read from the identification card and the additional identifying information;

fourth computer readable program code means for causing the computer to transmit the completed transaction account application to a transaction account provider for evaluation; and

fifth computer readable program code means for causing the transaction account provider to evaluate the transaction account application; and

sixth computer readable program code means for transmitting the result of the evaluation back to a credit requesting system.

14. The computer program product of claim 13, wherein said fifth computer readable program code means causes the computer to request a search of a database of at least one credit reporting agency to retrieve a credit report, whereby the credit report is used in part to evaluate the transaction account application.

15. The computer program product of claim 13, wherein the additional information comprises at least a Social Security Number or a Partial Social Security Number.