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System, Program Product, and Computer-Implemented Method For Loading a Loan on an Existing Pre-Paid Card

  • US 20090287577A1
  • Filed: 05/13/2009
  • Published: 11/19/2009
  • Est. Priority Date: 05/14/2008
  • Status: Active Grant
First Claim
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1. A computer system for loading loan proceeds to a pre-paid card, the computer system associated with a bank, configured as a bank computer, and in communication through an electronic communications network with a lender computer positioned to approve a loan request from a borrower and with a pre-paid card processor computer positioned to load loan proceeds to an existing pre-paid card, comprising:

  • a processor positioned to credit loan proceeds for an existing pre-paid card responsive to an authorization received from the lender computer;

    an input/output unit for transferring data to the processor; and

    a memory having stored therein a computer program product, stored on a tangible computer memory media, operable on the processor, the computer program product comprising a set of instructions that, when executed by the processor, cause the computer to load loan proceeds to a pre-paid card by performing the operations of;

    receiving authorization by the bank computer from the lender computer to credit loan proceeds from the lender to the approved borrower on an existing pre-paid card associated with the pre-paid card processor, andcrediting the loan proceeds relatively instantaneously by the bank computer to the pre-paid card processor computer for the existing pre-paid card so that the loan proceeds are released to the approved borrower and are immediately available to thereby convert the pre-paid card into a loan delivery apparatus.

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