SYSTEM AND METHOD FOR CONVERTING CLOSED LOOP CARDS INTO GIFT CODES

• US 20100200653A1
• Filed: 10/02/2009
• Published: 08/12/2010
• Est. Priority Date: 02/09/2009
• Status: Active Grant

• Current Assignee: GiftCodes.com, LLC
• Original Assignee: GiftCards.com LLC (Albertsons Cos., Inc.)
• Inventors: Kelly, Mike, WOLFE, Jason, Akut, Sanjay, Romanelli, Mark, Kelly, Mary Jane
• Granted Patent: US 8,887,998 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for generating a gift code. The system receives an indication from a first user identifying a closed loop card, receives a confirmation of an amount of money in an account associated with the closed loop card, offers to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card, and upon acceptance of the offer, deactivates the closed loop card. The system then offers to sell the amount of money at a discount rate to a second user, receives acceptance of the offer to sell the amount of money at the discount rate, and associates a gift code with the amount of money for use by the second user. Gift codes can have no expiration date. A multi-process secure gateway can confirm the amount of money.

Claims

1. A method of generating a gift code, the method causing the computing device to perform steps comprising:

receiving an indication from a first user identifying a closed loop card;

receiving a confirmation of an amount of money in an account associated with the closed loop card;

offering to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card;

upon acceptance of the offer, deactivating the closed loop card;

offering to sell the amount of money at a discount rate to a second user;

receiving acceptance of the offer to sell the amount of money at the discount rate; and

associating a gift code with the amount of money for use by the second user.

2. The method of claim 1, wherein the gift code has no expiration date.

3. The method of claim 1, wherein a multi-process secure gateway provides the received confirmation of the amount of money.

4. The method of claim 1, wherein the multi-process secure gateway communicates with one or more closed loop card processors.

5. The method of claim 1, the method further causing the computing device to provide the gift code to the second user.

6. The method of claim 1, the method further causing the computing device to perform steps comprising:

determining a set of smaller values totaling a sum equal to the amount of money in the closed loop card account;

dividing the amount of money in the closed loop account into gift codes in denominations of the set of smaller values; and

offering to sell the smaller value gift codes at discount rates.

7. The method of claim 1, wherein the information identifying the closed loop card is read from a physical closed loop card, the method further comprising receiving the physical closed loop card.

8. The method of claim 1, wherein the offer amount is based on a resale velocity of cards of a similar type as the closed loop card.

9. The method of claim 1, the method further causing the computing device to restrict the amount of money the first user can redeem over a period of time.

10. The method of claim 1, the method further causing the computing device to check that first user is not engaged in fraud with the closed loop card.

11. The method of claim 1, wherein when the second user uses the gift code, the method further causes the computing device to transfer the amount of money to another account.

12. A system for generating a gift code, the system comprising:

a processor;

a module configured to control the processor to receive an indication from a first user identifying a closed loop card;

a module configured to control the processor to receive a confirmation of an amount of money in an account associated with the closed loop card;

a module configured to control the processor to offer to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card;

a module configured to control the processor to, upon acceptance of the offer, deactivate the closed loop card;

a module configured to control the processor to offer to sell the amount of money at a discount rate to a second user;

a module configured to control the processor to receive acceptance of the offer to sell the amount of money at the discount rate; and

a module configured to control the processor to associate a gift code with the amount of money for use by the second user.

13. The system of claim 12, wherein the gift code has no expiration date.

14. The system of claim 12, wherein a multi-process secure gateway provides the received confirmation of the amount of money.

15. The system of claim 12, wherein the multi-process secure gateway communicates with one or more closed loop card processors.

16. A computer-readable storage medium storing instructions which, when executed by a computing device, control the computing device to generate a gift code, the instructions further comprising:

receiving an indication from a first user identifying a closed loop card;

receiving a confirmation of an amount of money in an account associated with the closed loop card;

offering to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card;

upon acceptance of the offer, deactivating the closed loop card;

offering to sell the amount of money at a discount rate to a second user;

receiving acceptance of the offer to sell the amount of money at the discount rate; and

associating a gift code with the amount of money for use by the second user.

17. The computer-readable storage medium of claim 16, wherein the offer amount is based on a resale velocity of cards of a similar type as the closed loop card.

18. The computer-readable storage medium of claim 16, the instructions further comprising restricting the amount of money the first user can redeem over a period of time.

19. The computer-readable storage medium of claim 16, the instructions further comprising checking that first user is not engaged in fraud with the closed loop card.

20. The computer-readable storage medium of claim 16, wherein when the second user uses the gift code, the method further causes the computing device to transfer the amount of money to another account.