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

• US 20080059373A1
• Filed: 10/31/2007
• Published: 03/06/2008
• 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: Deporte, Rebecca, Norwine, Jeffrey, Joines, Penny, Phillips, Gregory
• Granted Patent: US 7,809,643 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

1-108. -108. (canceled)

109. A computer-implemented method for creating a stored value card affiliated with a predetermined transaction network, a governmental sponsor, and an issuer, the method comprising:

creating in a computer database an independent and separate stored value account, wherein the independent stored value card account includes information about;

a) a stored value account number; and

b) a stored value purchase amount;

marking the stored value card with an identifier associated with a cardholder and at least one of a transaction network identification indicia associated with the transaction network and an issuer identification indicia associated with the issuer;

issuing the card associated with the independent and separate account to the cardholder;

activating the independent and separate account upon notification to the issuer that the cardholder has received the card; and

reloading the stored value card upon receiving a reload request from one of;

the cardholder and the governmental sponsor;

wherein the stored value card is usable for purchases of goods and services.

110. The method of claim 109 further comprising the issuer providing the governmental sponsor with account transaction information related to the independent and separate stored value account wherein the account transaction information includes transaction locations and transaction items.

111. The method of claim 109, wherein the stored value card is issued by a governmental sponsor to a cardholder as a distribution to the cardholder of one of:

federal benefits, disaster relief funding, expense reimbursements, insurance claim distributions, employee pay, and employee benefits.

112. The method of claim 109, wherein merchants at which the card is usable are specified by the governmental sponsor.

113. The method of claim 109, wherein the goods and services purchasable by the card are specified by the governmental sponsor.

114. The method of claim 109, wherein the identifier associated with a cardholder comprises a cardholder'"'"'s name.

115. The method of claim 109, wherein the identifier associated with a cardholder comprises a stored value account number and the independent and separate stored value account is updated to contain cardholder information upon activation.

116. The method of claim 109, wherein activation of the stored value card comprises activating the stored value card for a predetermined period of time.

117. A computer-implemented method for creating a stored value card affiliated with a predetermined transaction network, a financial institution sponsor, and an issuer, the method comprising:

creating in a computer database an independent and separate stored value account, wherein the independent separate stored value account includes information about;

a) a stored value account number; and

b) a stored value purchase amount;

marking the stored value card with an identifier associated with a cardholder and at least one of a transaction network identification indicia associated with the transaction network and an issuer identification indicia associated with the issuer;

issuing the card associated with the independent and separate account to the cardholder;

activating the independent and separate account upon notification to the issuer that the cardholder has received the card; and

reloading the stored value card upon receiving a reload request from one of;

the cardholder and the governmental sponsor;

wherein the stored value card is usable for purchases of goods and services.

118. The method of claim 117, wherein the financial institution comprises an insurance company.

119. A computer-implemented system for creating a stored value card affiliated with a predetermined transaction network, a governmental sponsor, and an issuer, the system comprising:

a computer storage system for storing an account file containing information about an independent and separate stored value account, wherein the independent and separate stored value card account comprises information about;

a) a stored value account number; and

b) a stored value purchase amount;

a marking device configured to mark the stored value card with an identifier associated with a cardholder and at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer; and

a processor for executing instructions configured to;

issue the card associated with the independent and separate account to a cardholder;

activate the independent and separate stored value account upon notification to the issuer that the cardholder has received the card;

reload the stored value card upon receiving a reload request from one of;

the cardholder and the governmental sponsor;

wherein the stored value account is usable for purchases from merchants affiliated with the transaction network.

120. The system of claim 119, wherein the processor is further configured to execute instructions to provide the governmental sponsor with account transaction information from the issuer wherein the account transaction information includes transaction locations and transaction items.

121. The system of claim 119, wherein the stored value card is issued by a governmental sponsor to a cardholder as a distribution to the cardholder of one of:

federal benefits, disaster relief funding, expense reimbursements, insurance claim distributions, employee pay, and employee benefits.

122. The system of claim 119, wherein the merchants at which the card is usable are specified by the governmental sponsor.

123. The system of claim 119, wherein goods and services purchasable by the card are specified by the governmental sponsor.

124. The system of claim 119, wherein the identifier associated with a cardholder comprises a cardholder'"'"'s name.

125. The system of claim 119, wherein the identifier associated with a cardholder comprises a stored value account number and the stored value account is updated to contain cardholder information upon activation.

126. The system of claim 119, wherein the independent stored value card account further includes information about a cardholder.

127. The system of claim 119, wherein activation of the stored value card comprises activating the stored value card for a predetermined period of time.

128. The system of claim 119, wherein the predetermined transaction network and the issuer are the same.

129. The system of claim 119, further comprising:

an input device for receiving a request for a stored value card associated with the stored value account.