METHOD AND SYSTEM FOR HANDLING RETURNED PREPAID PAYMENT CARDS

• US 20080301011A1
• Filed: 06/04/2007
• Published: 12/04/2008
• Est. Priority Date: 06/04/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Monk, Justin T.
• Granted Patent: US 8,290,832 B2
• Time in Patent Office: Days
• US Class Current: 705/28
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G07F 7/06 by returnable containers , i.e. reverse vending systems in which a user is rewarded for returning a container that serves as a token of value, e.g. bottles

Abstract

A method and system for handling returned prepaid device in a payment system. In one embodiment, upon receipt of a returned prepaid device corresponding to a consumer'"'"'s account, a method indicates in the consumer'"'"'s account that an address of the consumer is invalid; and determines whether the device should be stored in order to possibly re-send the device to the consumer if a new valid consumer address is received, or to destroy the device and refund the purchaser.

Claims

1. A method for handling a returned prepaid device, comprising:

upon receipt of the returned prepaid device corresponding to a consumer'"'"'s account, indicating in the consumer'"'"'s account that an address of the consumer is invalid; and

determining whether to store or destroy the returned prepaid device.

2. The method of claim 1, wherein determining whether to store or destroy the returned prepaid device is based on a plurality of predetermined configuration parameters.

3. The method of claim 1, if determined to store the returned prepaid device, further comprising:

storing the returned prepaid device; and

if stored less than a predetermined number of days, obtaining an updated address from consumer and resend the returned prepaid device to the updated address.

4. The method of claim 1, if determined to destroy the returned prepaid device, further comprising:

closing the consumer'"'"'s account; and

crediting funds to an original load source;

5. The method of claim 1, further comprising activating a field in a display indicating that the address of the consumer is invalid.

6. The method of claim 1, further comprising alerting a consumer service representative that the address of the consumer is invalid.

7. The method of claim 1, further comprising:

receiving an updated address from the consumer; and

indicating in the consumer'"'"'s account that the updated address of the consumer is valid.

8. The method of claim 1, wherein the consumer is a cardholder and the consumer'"'"'s account is associated with a payment card.

9. The method of claim 1, wherein the consumer'"'"'s account is associated with a portable consumer device.

10. A computer readable medium, comprising code for performing:

indicating in the consumer'"'"'s account that an address of the consumer is invalid upon receipt of the returned prepaid device corresponding to a consumer'"'"'s account; and

determining whether to store or destroy the returned prepaid device.

11. The computer readable medium of claim 10, wherein the code performs determining whether to store or destroy the returned prepaid device based on a plurality of predetermined configuration parameters.

12. The computer readable medium of claim 10, if determined to store the returned prepaid device, the code further performing:

storing the returned prepaid device; and

if stored less than a predetermined number of days, obtaining an updated address from consumer and resend the returned prepaid device to the updated address.

13. The computer readable medium of claim 10, if determined to destroy the returned prepaid device, the code further performing:

closing the consumer'"'"'s account; and

crediting funds to an original load source;

14. The computer readable medium of claim 10, the code further performing activating a field in a display indicating that the address of the consumer is invalid.

15. The computer readable medium of claim 10, the code further performing alerting a consumer service representative that the address of the consumer is invalid.

16. The computer readable medium of claim 10, the code further performing:

receiving an updated address from the consumer; and

indicating in the consumer'"'"'s account that the updated address of the consumer is valid.

17. The computer readable medium of claim 10, wherein the consumer is a cardholder and the consumer'"'"'s account is associated with a payment card.

18. The computer readable medium of claim 10, wherein the consumer'"'"'s account is associated with a portable consumer device.

19. A computer comprising:

a processor; and

a computer readable medium according to claim 10, wherein the code in the computer readable medium is executable by the processor.