Private Label Promotion Card System, Program Product, And Associated Computer-Implemented Methods

• US 20090164368A1
• Filed: 12/18/2008
• Published: 06/25/2009
• Est. Priority Date: 12/19/2007
• Status: Active Grant

• Current Assignee: Pathward National Association
• Original Assignee: MetaBank (Meta Financial Group Incorporated)
• Inventors: Galit, Scott
• Granted Patent: US 8,306,912 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• 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 20/357 Cards having a plurality of specified features
• CPC Class Codes: G06Q 30/0212 Chance discounts or incentives
• CPC Class Codes: G06Q 30/0229 Multi-merchant loyalty card systems
• CPC Class Codes: G06Q 30/0603 Catalogue ordering

Abstract

Embodiments of the present invention provide a private label promotion card as a bank product, being issued and managed by the bank and using an open payment network for purchase authorization and payments. A bank computer processes activation information for a promotion card and receives finds into an account at the bank on behalf of a retailer for payment for the promotion card, perhaps at a discount to a customer value of the promotion card. The bank computer authorizes purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network and transfers funds to the open payment network to satisfy the authorized consumer purchase. Upon expiration, the bank computer sweeps the account of the remaining value for expired promotion cards to thereby establish a credit for the bank.

Claims

1. A system for providing a promotion card, the system comprising:

a first computer associated with a bank defining a bank computer, the bank computer having memory, associated with an electronic communications network and in communication with an open payment network, and positioned to manage an account associated with the one or more promotion cards; and

a computer program product associated with the bank computer, stored on a tangible computer memory media, operable on a computer, and used to manage promotion card transactions, the computer program product comprising a set of instructions that, when executed by the computer, cause the computer to perform the operations of;

processing activation information for one or more promotion cards by the bank computer, the activation information being received by the bank computer from a second computer associated with a retailer defining a retailer computer, receiving funds into an account at the bank associated with the one or more promotion cards on behalf of the retailer for payment for the one or more promotion cards,

authorizing purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network by a bank computer,

transferring funds by the bank computer to the open payment network from the account at the bank associated with the one or more promotion cards to satisfy the authorized consumer purchase using the promotion card as payment, and

debiting the account at the bank associated with the one or more promotion cards of the remaining value for the one or more expired promotion cards to thereby sweep the account of the one or more promotion cards and establish a credit for the bank.

2. A system of claim 1, wherein the one or more promotion cards are bank products subject to federal banking laws and regulations, wherein the one or more promotion cards are redeemable only at the retailer, and wherein the one or more promotion cards include one or more of the following:

a gift card, a rebate card, an in-store credit card, and coupon-type card.

3. A system of claim 1, wherein the funds being received into an account at the bank associated with the one or more promotion cards on behalf of the retailer as payment for the one or more activated promotion cards include an amount of finds less than an amount of funds associated with an purchase price of the one or more promotion cards by a consumer to thereby define a discount.

4. A system of claim 1, wherein the bank receives funds into an account at the bank associated with the promotion cards on behalf of the retailer by one or more of the following:

an Automated Clearing House (ACH) file, and a wire transfer, and wherein an authorized purchase request includes use of a point-of-sale terminal.

5. A system of claim 1, wherein the activation information for one or more promotion cards includes one or more of the following:

pre-denominated cards, and variable denominated cards.

6. A system of claim 1, wherein the one or more promotion cards have indicia thereon defining a bank brand and such brand being different than indicia of the retailer defining a retailer brand so that such one or more promotion cards each further defines a fully branded card.

7. A computer program product, stored on a tangible computer memory media, operable on a computer, and used to manage promotion card transactions at a bank, the computer program product comprising a set of instructions that, when executed by the computer, cause the computer to perform the operations of:

processing activation information for one or more promotion cards by a first computer associated with a bank defining a bank computer, the activation information from a second computer associated with a retailer defining a retailer computer;

receiving funds into an account at the bank associated with the one or more promotion cards on behalf of the retailer for payment for the one or more promotion cards;

authorizing purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network by a bank computer; and

transferring funds by the bank computer to the open payment network from the account at the bank associated with the one or more promotion cards to satisfy the authorized consumer purchase using the promotion card as payment.

8. A computer program product of claim 7, wherein the operations further comprise:

debiting the account at the bank associated with the one or more promotion cards of the remaining value for the one or more expired promotion cards to thereby sweep the account and establish a credit for the bank.

9. A computer program product of claim 7, wherein the bank is a federally-chartered bank, and wherein the one or more promotion cards are bank products subject to federal banking laws and regulations.

10. A computer program product of claim 7, wherein the one or more promotion cards are redeemable only at the retailer;

wherein the one or more promotion cards include one or more of the following;

a gift card, a rebate card, an in-store credit card, and coupon-type card; and

wherein the activation information for one or more promotion cards includes one or more of the following;

pre-denominated cards, and variable denominated cards.

11. A computer program product of claim 7, wherein the funds being received into an account at the bank associated with the one or more promotion cards on behalf of the retailer for payment for the one or more promotion cards include an amount of funds less than an amount of funds associated with a purchase price of the one or more cards by a consumer to thereby define a discount.

12. A computer program product of claim 7, wherein the operations further include:

deducting funds from a promotion card; and

indicating a value remaining on the promotion card for a next transaction.

13. A computer program product of claim 7, wherein the one or more promotion cards have indicia thereon defining a bank brand and such brand being different than indicia of the retailer defining a retailer brand so that such one or more promotion cards each further defines a fully branded card.

14. A computer-implemented method of funding a promotion card, the computer-implemented method comprising:

processing activation information for one or more promotion cards by a computer associated with a federally-chartered bank defining a bank computer, the one or more promotion cards being bank products subject to federal banking laws and regulations;

receiving funds by a bank computer into an account at the bank associated with the one or more promotion cards on behalf of a retailer for payment for the one or more promotion cards;

authorizing purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network by a bank computer;

transferring funds to the open payment network from the account at the bank associated with the one or more promotion cards to satisfy the authorized consumer purchase using the one or more activated promotion cards as payment; and

debiting the account at the bank associated with the one or more promotion cards of the remaining value for the one or more expired promotion cards by the bank computer to thereby sweep the account and establish a credit for the bank of a value of any funds in the account.

15. A computer-implemented method of claim 14, wherein the one or more promotion cards are redeemable only at the retailer, and wherein the one or more promotion cards include one or more of the following:

a gift card, a rebate card, an in-store credit card, and coupon-type card.

16. A computer-implemented method of claim 15, wherein the funds being received into an account at the bank associated with the one or more promotion cards on behalf of the retailer as payment for the one or more activated promotion cards include an amount of funds less than an amount of funds associated with a purchase price of the one or more cards by a consumer to thereby define a discount.

17. A computer-implemented method of claim 16, wherein the activation information for the one or more promotion cards originates from the retailer responsive to the one or more promotion cards having been received into inventory of the retailer, and wherein the step of processing activation information for one or more promotion cards by the bank computer includes one or more of the following:

pre-denominated cards, and variable denominated cards.

18. A computer-implemented method of claim 17, further comprising deducting funds from a promotion card and indicating a value remaining on the promotion card for a next transaction.

19. A computer-implemented method of claim 18, wherein the step of receiving funds by the bank computer into an account at the bank associated with the one or more promotion cards on behalf of a retailer for payment for the one or more promotion car involves one or more of the following:

an Automated Clearing House (ACH) file, and a wire transfer, and wherein an authorized purchase request includes use of a point-of-sale terminal.

20. A computer-implemented method of claim 19, wherein the one or more promotion cards have indicia thereon defining a bank brand and such brand being different than indicia of the retailer defining a retailer brand so that such one or more promotion cards each further defines a fully branded card.