Debit purchasing of stored value card for use by and/or delivery to others
First Claim
1. A computer implemented method for issuing a stored value card affiliated with a predetermined credit network and an issuer, wherein the credit network and the issuer each have separate identification indicia, the method comprising:
- presenting an individual purchaser with an opportunity to buy the stored value card;
determining with a computer processor whether the individual purchaser has sufficient funds to pay for the stored value card;
creating in a computer database an independent stored value card account for a recipient designated by the individual purchaser, the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card purchase amount;
issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and
receiving notification from the recipient that the stored value card has been received.
8 Assignments
0 Petitions
Accused Products
Abstract
A method of issuing a purchase card is provided. The method includes the steps of presenting a purchaser with the opportunity to buy the purchase card, determining whether the purchaser has sufficient funds to pay for the purchase card, creating a purchase card account for a recipient designated by the purchaser, and issuing the purchase card. The purchase card may also be issued in connection with another credit card, for example as a rebate for purchases on the credit card. The purchase card may also be converted to a credit card.
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Citations
42 Claims
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1. A computer implemented method for issuing a stored value card affiliated with a predetermined credit network and an issuer, wherein the credit network and the issuer each have separate identification indicia, the method comprising:
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presenting an individual purchaser with an opportunity to buy the stored value card;
determining with a computer processor whether the individual purchaser has sufficient funds to pay for the stored value card;
creating in a computer database an independent stored value card account for a recipient designated by the individual purchaser, the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card purchase amount;
issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and
receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer implemented method for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined credit network and the issuer and where the credit network and the issuer each have separate identification indicia, the method comprising:
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issuing a credit card to a cardholder, said credit card being associated with a sponsor;
calculating on a computer processor a rebate amount based upon cardholder purchases made with said credit card;
creating in a computer database an independent stored value card account for a recipient designated by the cardholder, the stored value card having a purchase value determined by said rebate amount and the independent stored value card account only accessible by the recipient such that the issuer is unable to add funds to the account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name b) a stored value card account number; and
c) a stored value card deposit amount;
issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and
receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (9, 10, 11, 12, 13)
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14. A computer implemented method for an issuer to issue a credit card comprising:
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creating on a database an independent stored value card account for a recipient designated by an individual purchaser, the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card purchase amount;
issuing the stored value card marked with the name of the recipient and at least one of an indicia of a predetermined credit network affiliated with the stored value card and an indicia of an issuer, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases;
receiving a request from the recipient to convert the stored value card into a credit card;
determining with a computer processor whether the recipient meets predetermined credit criteria to convert the stored value card into a credit card;
creating on a computer database a credit card account; and
converting the stored value card into a credit card. - View Dependent Claims (15, 16)
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17. A computer implemented method for an issuer to issue a stored value card affiliated with a predetermined credit network, wherein the credit network has identification indicia, the method comprising:
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presenting an individual purchaser with the opportunity to buy the stored value card;
determining with a computer processor whether the individual purchaser has sufficient funds to pay for the stored value card;
creating in a computer database a stored value card account for a recipient designated by the individual purchaser, wherein the stored value account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card purchase amount;
issuing the stored value card, wherein the stored value card is accepted anywhere credit cards affiliated with the predetermined credit network are accepted and wherein the stored value card is marked with the credit network identification indicia; and
receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (18, 19, 20, 21)
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22. A computer implemented system for issuing a stored value card affiliated with a predetermined credit network and an issuer, wherein the credit network and the issuer each have separate identification indicia, the system comprising:
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means for presenting an individual purchaser with an opportunity to buy the stored value card;
means for determining whether the individual purchaser has sufficient funds to pay for the stored value card;
means for creating an independent stored value card account for a recipient designated by the individual purchaser, the independent stored value account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name b) a stored value card account number; and
c) a stored value card purchase amount;
means for issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchase anywhere the predetermined credit network is accepted for purchases; and
means for receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (23, 24, 25, 26, 27)
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28. A computer implemented system for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined credit network and the issuer and where the credit network and the issuer each have separate identification indicia, the system comprising:
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means for issuing a credit card to a cardholder, said credit card being associated with a sponsor;
means for calculating a rebate amount based upon cardholder purchases made with said credit card;
means for creating an independent stored value card account for a recipient designated by the cardholder, the stored value card having a purchase value determined by said rebate amount, the independent stored value account such that the issuer is unable to add funds to the account beyond the initial issue amount, and wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card deposit amount;
means for issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and
means for receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (29, 30, 31, 32, 33, 34)
means for the sponsor to notify the issuer of the amount of the rebate; and
means for the issuer to create the stored value card.
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35. A computer implemented system for an issuer to issue a credit card comprising:
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means for creating an independent stored value card account for a recipient designated by an individual purchaser the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;
a) the recipient'"'"'s name;
b) a stored value card account number; and
c) a stored value card deposit amount;
means for issuing the stored value card marked with the name of the recipient and at least one of an indicia of a predetermined credit network and an indicia of an issuer, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchase;
means for receiving a request from the recipient to convert the stored value card into a credit card;
means for determining whether the recipient meets predetermined credit criteria to convert the stored value card into a credit card;
means for creating a credit card account; and
means for converting the stored value card into a credit card. - View Dependent Claims (36, 37)
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38. The computer implemented system for an issuer to issue a stored value affiliated with a predetermined credit network wherein the credit network has identification indicia card comprising:
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means for presenting an individual purchaser with the opportunity to buy the stored value card;
means for determining whether the individual purchaser has sufficient funds to pay for the stored value card;
means for creating a stored value card account for a recipient designated by the individual purchaser wherein the stored value card account comprises information about;
a) the recipient'"'"'s name b) a stored value card account number; and
c) a stored value card purchase amount;
means for issuing the stored value card, wherein the stored value card is accepted anywhere credit cards affiliated with the predetermined credit network are accepted and wherein the stored value card is marked with the credit network indicia; and
means for receiving notification from the recipient that the stored value card has been received. - View Dependent Claims (39, 40, 41, 42)
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Specification