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Debit purchasing of stored value card for use by and/or delivery to others

  • US 7,174,314 B2
  • Filed: 11/15/2004
  • Issued: 02/06/2007
  • Est. Priority Date: 06/22/1998
  • Status: Expired due to Term
First Claim
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1. A method for distributing a stored value card comprising:

  • receiving a payment of funds from a customer, wherein the payment is for the purchase of a stored value card by the customer;

    receiving authentication information associated with the stored value card;

    creating an independent and separate stored value card account associated with the stored value card, comprising;

    a) a balance based on a payment of funds;

    b) the stored value card authentication information; and

    c) stored value card account information;

    wherein the customer is provided with the option of identifying the customer or a separate person as a recipient;

    passing stored value card account creation information from a stored value card account vending entity to a central processor;

    storing the balance, the stored value card authentication information and the stored value card account information in a database;

    marking the name of the recipient on the stored value card before issuance;

    issuing the stored value card to the recipient;

    activating the stored value card; and

    reloading the stored value card upon receiving a reload request.

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