VOUCHER SYSTEM AND METHOD OF USE

• US 20100250378A1
• Filed: 06/11/2010
• Published: 09/30/2010
• Est. Priority Date: 11/17/2005
• Status: Active Grant

• Current Assignee: Target Brands Inc. (Target Corporation)
• Original Assignee: Target Brands Inc. (Target Corporation)
• Inventors: BJORAKER, Erik BenDon, OAKMAN, Token Lee, SCHULTZ, Mark A.
• Granted Patent: US 8,011,578 B2
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A system for managing voucher use includes a database, a voucher, and a processor. The database stores an account defining at least one approved item available for purchase and a financial balance. The voucher includes an identifier linking the voucher to the account. The processor is in communication with the database and is adapted to use the identifier to access the account. The processor is adapted to determine if an item selected for purchase is an approved item and to apply at least a portion of the financial balance toward the purchase of the selected item only if the selected item is an approved item. Other voucher systems and associated methods are also disclosed.

Claims

1. A system for managing voucher use, the system comprising:

a database storing an account defining at least one approved item available for purchase and a financial balance;

a voucher including an identifier linking the voucher to the account; and

a processor in communication with the database and adapted to use the identifier to access the account, wherein the processor is adapted to determine if an item selected for purchase is an approved item and to apply at least a portion of the financial balance toward the purchase of the selected item only if the selected item is an approved item.

2. The system of claim 1, wherein the processor is adapted to substantially prevent application of the financial balance toward any selected items that are not approved items.

3. The system of claim 2, wherein the account defines the at least one approved item by non-inclusion of the at least one approved item in a restricted item definition included within the account.

4. The system of claim 1, wherein the account includes a transaction details field including a listing of the selected items purchased with the voucher.

5. The system of claim 1, wherein the account includes expiration data specifying one of a date and an occurrence upon which any residual financial balance can be recaptured.

6. The system of claim 1, wherein the processor is a redemption processor, the system further comprising:

an administrator processor in communication with the database, the administrator processor being configured to support a website based upon the database, wherein the website is configured to facilitate access to and customization of the account.

7. The system of claim 6, wherein the website is configured to enable ordering of additional vouchers each linked to an associated account stored on the database.

8. The system of claim 6, wherein the account includes a transaction details field including a listing of all selected products purchased with the voucher, the transaction details field being accessible via the website.

9. The system of claim 6, wherein the administrator processor is configured to enable access to the account via the website and is configured to enable use of the website to define the at least one approved item and to define the financial balance of the account.

10. The system of claim 6, wherein the administrator processor is configured to process orders for additional vouchers to be delivered to a distribution agency, to generate a bill for the additional vouchers, and to credit the distribution agency for recaptured residual financial balances of the additional vouchers.

11. The system of claim 1, wherein the voucher is a stored-value card.

12. The system of claim 1, wherein the processor is included in a point-of-sale (POS) terminal.

13. The system of claim 12, wherein the POS terminal includes an electronic reader coupled with the processor and configured to read the identifier of the voucher.

14. A system for redeeming a financial transaction instrument toward a purchase of items, the system comprising:

means for reading an identifier of a financial transaction instrument presented at a point-of-sale;

means for accessing an account from the point-of-sale using the identifier, wherein the account defines approved items;

means for determining whether items to be purchased are approved items as defined by the account; and

means for applying the financial transaction instrument toward a cost of the approved items to be purchased.

15. The system of claim 14, further comprising means for preventing use of the financial transaction instrument toward a cost of items in the purchase determined not to be allowable items by the means for determining.

16. The system of claim 14, further comprising means for collecting data about the purchase and other purchases made with the financial transaction instrument and for storing the collected data to the account.

17. The system of claim 14, further comprising means for refunding a non-redeemed value of the financial transaction instrument after the financial transaction instrument has been applied toward the cost of the approved items.

18. A method for redeeming a financial transaction instrument toward a purchase of items, the system comprising:

reading an identifier of a financial transaction instrument presented at a point-of-sale;

accessing an account from the point-of-sale using the identifier, wherein the account defines approved items;

determining whether items selected for purchase are approved items as defined by the account; and

applying the financial transaction instrument toward a cost of the selected items determined to be approved items.

19. The method of claim 18, further comprising:

preventing use of the financial transaction instrument toward a cost of selected items determined not to be approved items.

20. The method of claim 18, further comprising:

collecting data about the application of the financial transaction instrument toward the cost of the selected items determined to be approved items, wherein the data includes details about the selected items;

storing the collected data to the account.