Multiple Account Advanced Payment Card and Method of Routing Card Transactions

• US 20110131133A1
• Filed: 12/30/2010
• Published: 06/02/2011
• Est. Priority Date: 07/24/2001
• Status: Abandoned Application

• Current Assignee: Debra C. Fellner, Jeffrey L. Hirka, Lee Knackstedt, Steven Fox
• Original Assignee: Debra C. Fellner, Jeffrey L. Hirka, Lee Knackstedt, Steven Fox
• Inventors: Fellner, Debra C., Knackstedt, Lee, Fox, Steven, Hirka, Jeffrey L.
• Application Number:
  US12/982,396
• Publication Number:
  US 20110131133A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/3576 Multiple memory zones on card
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A system of accessing through a financial processing network multiple accounts associated with a single financial card. Data is input to the financial network in addition to the transaction data and the account identification data that in read from the card. This addition data permits the proper account to be accessed. The data may be input at the point of sale as an account selection. In this instance, the selection may be used to route the transaction data through the financial processing network or may be used to read data regarding one of multiple accounts encoded on the card. The data may also be stored as conditional routing rules at transfer points in the financial processing network. In this instance, the transaction is routed to the proper account based on the stored rules.

Claims

1-10. -10. (canceled)

11. A computer-implemented method for processing a transaction originating with a payment card associated with multiple accounts, the method comprising:

establishing selection criteria associated with the payment card, wherein the selection criteria predefine an applicable transaction process based on at least one attribute of a transaction, wherein the payment card is operable as at least one of a credit card, a debit card, and a stored value card;

receiving transaction data comprising one or more attributes of the transaction;

identifying, using computer processing components, an applicable transaction process based on a comparison of the selection criteria to the one or more attributes of the transaction, wherein the applicable transaction process comprises one of a debit card transaction, a credit card transaction, and a stored value card transaction; and

processing the transaction with a processing system by using the applicable transaction process.

12. The method of claim 11, wherein the one or more transaction attributes comprise at least one of transaction value, merchant identity, location of the transaction, and category of goods.

13. The method of claim 11, wherein the selection criteria predefine the applicable transaction process based on additional data separate from the transaction.

14. The method of claim 13, wherein the additional data comprises account status data.

15. The method of claim 11, further comprising receiving the selection criteria from a cardholder of the payment card.

16. The method of claim 11, further comprising receiving the selection criteria from a merchant.

17. The method of claim 11, wherein the selection criteria identify a default account.

18. The method of claim 11, further comprising associating multiple accounts of a single account type with the payment card.

19. The method of claim 11, further comprising recording the selection criteria in advance of performing any payment card transactions.

20. The method of claim 11, further comprising dynamically selecting a processing route and an account based on the comparison between the selection criteria and the transaction data.

21. The method of claim 11, wherein the selection criteria includes both merchant rules and cardholder rules.

22. The method of claim 21, further comprising arbitrating conflicts between the merchant rules and the cardholder rules.

23. The method according to claim 11, wherein the multiple accounts are selected from a group consisting of:

credit accounts;

debit accounts;

ATM accounts;

bank accounts; and

stored value accounts.

24. The method according to claim 23, wherein:

the payment card functions as a credit card if the selected account is a credit account;

the payment card functions as a debit card or an automated teller machine (ATM) card if the selected account is a bank account, a debit account, or an ATM account; and

the payment card functions as a stored value card if the selected account is a stored value account.

25. A computer-implemented system for processing a transaction originating with a payment card associated with multiple accounts, the system comprising computer processing components operable to:

establish selection criteria associated with the payment card, wherein the selection criteria predefine an applicable transaction process based on at least one attribute of a transaction, wherein the payment card is operable as at least one of a credit card, a debit card, and a stored value card;

receive transaction data comprising one or more attributes of the transaction;

identify an applicable transaction process based on a comparison of the selection criteria to the one or more attributes of the transaction, wherein the applicable transaction process comprises one of a debit card transaction, a credit card transaction, and a stored value card transaction; and

process the transaction by using the applicable transaction process.

26. The system of claim 25, wherein the one or more transaction attributes comprise at least one of transaction value, merchant identity, location of the transaction, and category of goods.

27. The system of claim 25, wherein the selection criteria predefine the applicable transaction process based on additional data separate from the transaction.

28. The system of claim 27, wherein the additional data comprises account status data.

29. The system of claim 25, wherein the computer processing components are programmed to receive the selection criteria from a cardholder of the payment card.

30. The system of claim 25, wherein the computer processing components are programmed to receive the selection criteria from a merchant.

31. The system of claim 25, wherein the selection criteria identify a default account.

32. The system of claim 25, wherein the computer processing components are programmed to associate multiple accounts of a single account type with the payment card.

33. The system of claim 25, wherein the computer processing components are programmed to record the selection criteria in advance of performing any payment card transactions.

34. The system of claim 25, wherein the computer processing components are further programmed to dynamically select a processing route and an account from the multiple accounts based on the comparison between the selection criteria and the transaction data.

35. The system of claim 25, wherein the selection criteria include both merchant rules and cardholder rules.

36. The system of claim 35, wherein the computer processing components are programmed to arbitrate conflicts between the merchant rules and the cardholder rules.

37. The system according to claim 25, wherein the multiple accounts are selected from a group consisting of:

credit accounts;

debit accounts;

ATM accounts;

bank accounts; and

stored value accounts.

38. The system according to claim 37, wherein:

the payment card functions as a credit card if the selected account is a credit account;

the payment card functions as a debit card or an automated teller machine (ATM) card if the selected account is a bank account, a debit account, or an ATM account; and

the payment card functions as a stored value card if the selected account is a stored value account.