SPENDING VEHICLES FOR PAYMENTS
First Claim
14. A method for distributing spending vehicles, comprising:
- (a) offering to an individual a spending vehicle with a value, said individual having a right to receive a payment from a payor;
(b) transferring at least a portion of said payment to a third party acquiring a right to receive said at least said portion of said payment; and
(c) providing to said individual said spending vehicle, said spending vehicle provided to said individual in exchange for said right to receive said at least said portion of said payment.
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Accused Products
Abstract
A system and method for associating payments with spending vehicles so that an individual who is entitled to receive periodic or special payments such as social security checks receives in place of the payment a spending vehicle such as a discount card, rebate, or coupon for use with purchases of the sponsor'"'"'s products or services. Sponsors include companies and organizations interested in offering purchase incentives to their customers. An individual who wishes to receive a spending vehicle rather than the regular payment selects the spending vehicle he or she would like to receive. The individual then assigns his or her right to receive the payment to a third party. The third party then arranges to give a spending vehicle to the individual and to transfer the individual'"'"'s payment to the sponsor of the spending vehicle. The third party may take a portion of the payment as compensation for the service.
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Citations
61 Claims
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14. A method for distributing spending vehicles, comprising:
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(a) offering to an individual a spending vehicle with a value, said individual having a right to receive a payment from a payor;
(b) transferring at least a portion of said payment to a third party acquiring a right to receive said at least said portion of said payment; and
(c) providing to said individual said spending vehicle, said spending vehicle provided to said individual in exchange for said right to receive said at least said portion of said payment. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A method for allocating a payment to a spending vehicle through an intermediary comprising:
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(a) purchasing from at least one spending vehicle provider at least one spending vehicle at a first price, said purchase completed by said intermediary;
(b) offering to an individual said at least one spending vehicle at a second price;
(c) receiving from said individual an assignment of at least a portion of a payment from a third party payor, said at least a portion of said payment equal to said second price;
(d) facilitating a transfer of said portion of said payment from said third party payor to a third party assignee; and
(e) issuing to said individual said spending vehicle in exchange for said assignment of said least said portion of said payment. - View Dependent Claims (28, 30, 31, 32, 33, 34, 35, 36)
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37. A method for selecting among alternatives to receiving a cash payment comprising:
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(a) offering to an individual a plurality of spending vehicles, said individual entitled to receive a cash payment from a third party payor;
(b) determining said individual'"'"'s selection of at least one of said plurality of spending vehicles, said selected spending vehicle having a value; and
(c) arranging for a transfer of at least a portion of said cash payment to a third party assignee, wherein said selected spending vehicle is provided to said individual in exchange for transferring said at least said portion of said cash payment to said third party assignee. - View Dependent Claims (1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 39, 38, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49)
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39-1. The method of claim 37 wherein said spending vehicle has a value greater than said at least said portion of said cash payment to said sponsor.
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50. A method for associating payments with spending vehicles comprising:
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(a) receiving at an intermediary information about an individual'"'"'s selection of a spending vehicle, said spending vehicle having a value;
(b) receiving at said intermediary information about a cash payment said individual is entitled to receive; and
(c) arranging for a transfer of at least a portion of said cash payment to a third party assignee, wherein said spending vehicle selected by said individual is provided to said individual in exchange for transferring said at least said portion of said cash payment to said third party assignee. - View Dependent Claims (51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61)
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Specification