Unit-Based Prepaid Presentation Instrument Accounts And Methods

• US 20080195497A1
• Filed: 06/18/2007
• Published: 08/14/2008
• Est. Priority Date: 11/08/2004
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Holme, Gary, Martin, Wayne Joseph
• Granted Patent: US 7,813,982 B2
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Methods and/or systems for providing preauthorization and transaction settlement for a transaction using a prepaid unit-based presentation instrument are disclosed, wherein the presentation instrument includes a unit balance. The method may include receiving a preauthorization request that includes a price-per-unit and a preauthorization amount. The methods and/or systems may then determine whether the unit balance is sufficient to cover the preauthorization amount. If the unit balance is sufficient to cover the preauthorization amount, the presentation instrument is authorized for the transaction. If the unit balance is insufficient to cover the preauthorization amount, a currency balance is determined from the unit balance and the price-per-unit, authorizing the presentation instrument for a transaction up to the currency balance and sending an indication that the currency balance is authorized for the transaction.

Claims

1. A method for providing preauthorization for a transaction using a prepaid unit-based presentation instrument, wherein the presentation instrument includes a unit balance, the method comprising:

receiving a preauthorization request from a point of sale device for a unit-based transaction using a presentation instrument;

determining whether the unit balance associated with the presentation instrument is sufficient to cover the preauthorization amount;

if the unit balance is sufficient to cover the preauthorization amount, authorizing the presentation instrument for the transaction and sending an indication that the preauthorization amount is authorized for the transaction; and

if the unit balance is insufficient to cover the preauthorization amount, determining a currency balance from the unit balance, authorizing the presentation instrument for a transaction up to the currency balance and sending an indication that the currency balance is authorized for the transaction.

2. The method of claim 1, wherein the determining comprises:

calculating a currency balance from the unit balance and a price-per-unit; and

comparing the currency balance with the preauthorization amount.

3. The method of claim 1, wherein the preauthorization requests comprises a price-per-unit and the currency balance depends on the price-per-unit.

4. The method of claim 1, wherein the transaction information comprises a geographic location and the method further comprises determining whether the geographic location is within a geographic area authorized by the presentation instrument limits.

5. The method of claim 1, wherein the transaction information comprises a product code and the method further comprises determining whether the product code is a product code associated with the presentation instrument limits.

6. The method of claim 5, wherein the product code comprises a fuel grade code.

7. The method of claim 1, wherein the transaction information further comprises information selected from the group consisting of a product code, a price, a currency type and a geographic location.

8. The method of claim 1, wherein:

the preauthorization request is received from a point of sale device at a gas station; and

the unit balance comprises a balance of prepaid gallons of gas.

9. The method of claim 1, wherein the presentation instrument is a gas card and the preauthorization comprises a price per gallon of gas.

10. A method for settling a transaction using a prepaid unit-based presentation instrument, the method comprising:

receiving a transaction amount and price-per-unit from a point of sale device;

calculating the number of units corresponding to the transaction amount using the price-per-unit; and

decreasing the balance on the presentation instrument by the number of units corresponding to the transaction amount.

11. The method of claim 10, wherein the presentation instrument comprises a preloaded gallon-based gas card and the price-per-unit comprises a price per gallon of gas.

12. The method of claim 10, further comprising:

calculating the remaining unit balance on the transaction card; and

sending the remaining balance to the point of sale device.

13. A point of sale (POS) device coupled with a gas pump, the POS device comprising:

a user interface comprising at least a card reader;

a network interface in communication with a financial processor; and

computational logic, wherein the computational logic is configured to;

receive an account number associated with a presentation instrument through the card reader;

receive an indication of a gas type from a user through the user interface;

transmit the account number, gas type and an indication of the price-per-gallon for the selected gas type through the network interface to the financial processor; and

receive an indication from the financial processor through the network interface whether the presentation instrument is approved to purchase gas.

14. The method of claim 13, wherein the computational logic is further configured to determine whether the account number is associated with a unit-based prepaid gas card.

15. The method of claim 13, wherein the computational logic is further configured to receive an indication of the amount of gas approved for a transaction.

16. The method of claim 13 further comprising a gas pump interface.

17. The method of claim 16, wherein the gas pump interface communicates information to the POS selected from the group consisting of the price-per-gallon, the number of gallons, and transaction amount.

18. The method of claim 16, wherein the gas pump interface sends an authorization amount to the gas pump through the gas pump interface.