SYSTEM AND METHOD FOR PROCESSING GIFT CARDS

• US 20120226604A1
• Filed: 05/14/2012
• Published: 09/06/2012
• Est. Priority Date: 12/14/2010
• Status: Abandoned Application

• Current Assignee: Moneyhoney LLC
• Original Assignee: Moneyhoney Lcc
• Inventors: ISAACSON, Thomas M., Durham, Ryan Connell
• Application Number:
  US13/470,969
• Publication Number:
  US 20120226604A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping 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 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/354 Card activation or deactivation
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for enabling gift card recipients to redeem gift card amounts using existing accounts such as a credit/debit card. A system practicing the method identifies a giver and recipient of a gift card amount and associated accounts. A policy is established which governs how the gift card is redeemed, such as a specific merchant or item. When the recipient makes a purchase using an existing credit/debit card according to the policy, the gift card amount is applied to the transaction. No special codes, separate physical gift cards, or printable coupons are necessary for redemption. The recipient makes purchases using their normal purchasing credit/debit card via a qualifying purchase according to the policy, and the gift card is applied automatically. The recipient credit/debit card becomes a combination of an open-looped card and a closed-loop card. Thus, no money is wasted or lost.

Claims

1. A method comprising:

receiving, via a processor, an identification of a merchant at a first time from a recipient, wherein a giver of an offer is associated with a giver payment account existing prior to the first time, and the recipient is associated with a recipient payment account comprising a credit payment account or a debit payment account existing prior to the first time;

associating, via a processor, a policy with the gift, wherein the policy is at least in part defined by the recipient'"'"'s identification of the merchant;

monitoring, via a processor and according to the policy, purchases using the recipient payment account at a second time, which is later than the first time, to yield purchasing information;

based on the purchasing information, determining, via a processor, whether a qualifying purchase has been made at the merchant using the recipient payment account; and

if the qualifying purchase has occurred, transferring, via a processor, an amount of money associated with the offer from the giver payment account to the recipient payment account.

2. The method of claim 1, wherein the policy further comprises at least one of:

a class of goods or services, an amount of money, a ceiling amount of money, a time frame for use of the gift, one or more recipient payment accounts that when used can trigger the transfer of at least part of the amount of money from the giver payment account to the recipient payment account, and a predetermined period of time in which if all the amount of money associated with the offer is not used according to the policy, a remainder amount of money is transferred from the giver payment account to the recipient payment account.

3. The method of claim 1, further comprising:

maintaining the amount of money associated with the offer in a giver payment account after the first time.

4. The method of claim 1, further comprising:

initiating, at the first time, a transfer of at least a portion of the amount of money from the giver payment account to a holding account separate from the recipient payment account.

5. The method of claim 1, further comprising determining, after transferring the amount of money associated with the offer, whether remaining funds exist for the offer according to the policy.

6. The method of claim 1, wherein the identification of a merchant is received via a communication in a social network.

7. The method of claim 6, wherein the social network is twitter.

8. A system comprising:

a processor; and

a non-transitory computer readable storage medium storing instructions which, when executed by the processor, cause the processor to perform a method comprising;

receiving, via a processor, an identification of a merchant at a first time from a recipient, wherein a giver of an offer is associated with a giver payment account existing prior to the first time, and the recipient is associated with a recipient payment account comprising a credit payment account or a debit payment account existing prior to the first time;

associating, via a processor, a policy with the gift, wherein the policy is at least in part defined by the recipient'"'"'s identification of the merchant;

monitoring, via a processor and according to the policy, purchases using the recipient payment account at a second time, which is later than the first time, to yield purchasing information;

based on the purchasing information, determining, via a processor, whether a qualifying purchase has been made at the merchant using the recipient payment account; and

if the qualifying purchase has occurred, transferring, via a processor, an amount of money associated with the offer from the giver payment account to the recipient payment account.

9. The system of claim 8, wherein the policy further comprises at least one of:

a class of goods or services, an amount of money, a ceiling amount of money, a time frame for use of the gift, one or more recipient payment accounts that when used can trigger the transfer of at least part of the amount of money from the giver payment account to the recipient payment account, and a predetermined period of time in which if all the amount of money associated with the offer is not used according to the policy, a remainder amount of money is transferred from the giver payment account to the recipient payment account.

10. The system of claim 8, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

maintaining the amount of money associated with the offer in a giver payment account after the first time.

11. The system of claim 8, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

initiating, at the first time, a transfer of at least a portion of the amount of money from the giver payment account to a holding account separate from the recipient payment account.

12. The system of claim 8, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

determining, after transferring the amount of money associated with the offer, whether remaining funds exist for the offer according to the policy.

13. The system of claim 8, wherein the identification of a merchant is received via a communication in a social network.

14. The system of claim 13, wherein the social network is twitter.

15. A non-transitory computer readable storage medium storing instructions which, when executed by a processor, cause the processor to perform a method comprising:

receiving, via a processor, an identification of a merchant at a first time from a recipient, wherein a giver of an offer is associated with a giver payment account existing prior to the first time, and the recipient is associated with a recipient payment account comprising a credit payment account or a debit payment account existing prior to the first time;

associating, via a processor, a policy with the gift, wherein the policy is at least in part defined by the recipient'"'"'s identification of the merchant;

monitoring, via a processor and according to the policy, purchases using the recipient payment account at a second time, which is later than the first time, to yield purchasing information;

based on the purchasing information, determining, via a processor, whether a qualifying purchase has been made at the merchant using the recipient payment account; and

if the qualifying purchase has occurred, transferring, via a processor, an amount of money associated with the offer from the giver payment account to the recipient payment account.

16. The non-transitory computer readable storage medium of claim 15, wherein the policy further comprises at least one of:

a class of goods or services, an amount of money, a ceiling amount of money, a time frame for use of the gift, one or more recipient payment accounts that when used can trigger the transfer of at least part of the amount of money from the giver payment account to the recipient payment account, and a predetermined period of time in which if all the amount of money associated with the offer is not used according to the policy, a remainder amount of money is transferred from the giver payment account to the recipient payment account.

17. The non-transitory computer readable storage medium of claim 15, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

maintaining the amount of money associated with the offer in a giver payment account after the first time.

18. The non-transitory computer readable storage medium of claim 15, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

initiating, at the first time, a transfer of at least a portion of the amount of money from the giver payment account to a holding account separate from the recipient payment account.

19. The non-transitory computer readable storage medium of claim 15, wherein the non-transitory computer readable storage medium further stores instructions which, when executed by the processor, perform a step comprising:

determining, after transferring the amount of money associated with the offer, whether remaining funds exist for the offer according to the policy.

20. The non-transitory computer readable storage medium of claim 15, wherein the identification of a merchant is received via a communication in a social network.

21. The non-transitory computer readable storage medium of claim 20, wherein the social network is twitter.