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

• US 7,174,316 B2
• Filed: 11/15/2004
• Issued: 02/06/2007
• Est. Priority Date: 06/22/1998
• Status: Expired due to Term

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Phillips, Gregory Joseph, Deporte, Rebecca, Norwine, Jeffrey, Joines, Penny
• Primary Examiner(s): Diaz, Susanna M.
• Application Number:
  US10/987,085
• Publication Number:
  US 20050097042A1
• Time in Patent Office: 813 Days
• Field of Search: 705/1, 705/14, 705/26, 705/41
• US Class Current: 705/41
• 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 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/355 Personalisation of cards for use
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07G 1/0036 Checkout procedures

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.

Claims

1. A computer-implemented method for issuing a stored value card affiliated with a predetermined card transaction processing network and an issuer, the method comprising:

presenting an individual human purchaser with an opportunity to buy the stored value card;

determining with a computer processor whether the individual human purchaser has sufficient funds to pay for the stored value card;

establishing in a computer database of the issuer an independent stored value card account for a recipient designated by the individual human purchaser, wherein the independent stored value card account comprises information about;

(a) the recipient'"'"'s name;

(b) the stored value account number; and

(c) a stored value initial issue amount;

issuing the stored value card by the issuer, wherein, prior to issuance, the stored value card is marked with the name of the recipient, the stored value account number, and an issuer identification indicia, and wherein the stored value card is accepted for purchase anywhere the predetermined card transaction processing network is accepted for purchases;

reloading the independent stored value card account in response to receiving a reload request from the recipient; and

receiving notification from the recipient that the stored value card has been received.

2. The computer-implemented method of claim 1, the independent stored value account not being accessible to the purchaser such that the purchaser is unable to add funds to the account beyond the initial issue amount.

3. The computer-implemented method of claim 1, further comprising:

verifying the identity of the recipient.

4. The computer-implemented method of claim 3, further comprising:

activating the stored value card based on the act of verifying.

5. The computer-implemented method of claim 3, wherein the act of verifying the identity of the recipient comprises verifying at least one selected from the group consisting of a recipient name, recipient address, and recipient telephone number.

6. The computer-implemented method of claim 1, wherein said notification occurs separate from and is not based on a recipient'"'"'s use of the card to execute a stored value card transaction.

7. The computer-implemented method of claim 1, wherein the act of receiving notification from the recipient activates the stored value card.

8. The computer-implemented method of claim 1, further comprising:

notifying the individual human purchaser that the stored value card has been received by the recipient.

9. The computer-implemented method of claim 1, further comprising:

identifying the individual human purchaser.

10. The computer-implemented method of claim 1, further comprising:

identifying the individual human purchaser by at least one of a name, address, account number, and social security number.

11. The computer-implemented method of claim 1, wherein the initial issue amount is determined by the individual human purchaser.

12. The computer-implemented method of claim 1, wherein the individual human purchaser pays for the stored value card using at least one of a credit card, a check, or cash.

13. The computer-implemented method of claim 1, wherein the act of determining whether the individual human purchaser has sufficient funds to pay for the stored value card comprises accessing the individual human purchaser'"'"'s credit limit to verify that sufficient credit is available to cover the initial issue amount.

14. The computer-implemented method of claim 1, wherein the stored value card is encoded to record the initial issue amount.

15. The computer-implemented method of claim 1, further comprising monitoring account information, wherein the account information comprises at least one selected from the group consisting of the current balance, account debits, account credits, transaction updates, and account status.

16. The computer-implemented method of claim 1, wherein the act of presenting an individual human purchaser with an opportunity to buy the stored value card comprises distributing a written solicitation to one or more potential purchasers.

17. The computer-implemented method of claim 1, wherein the act of presenting an individual human purchaser with an opportunity to buy the stored value card comprises orally notifying potential purchasers.

18. The computer-implemented method of claim 17, wherein the act of orally notifying potential purchasers occurs via an electronic telecommunications device.

19. The computer-implemented method of claim 1, wherein the act of presenting an individual human purchaser with an opportunity to buy the stored value card comprises publishing an offer to purchase the stored value card on an Internet web site.

20. The computer-implemented method of claim 1, wherein the stored value card is active for a predetermined period of time.

21. The computer-implemented method of claim 1, where the predetermined card transaction processing network and the issuer are the same.

22. The computer-implemented method of claim 1, where the predetermined card transaction processing network and the issuer are different entities.

23. The computer-implemented method of claim 1, further comprising:

notifying the individual human purchaser of card usage information, wherein the card usage information comprises at least one selected from the group consisting of what products were purchased using the card and where the card was used.

24. The computer-implemented method of claim 1, further comprising:

deactivating the stored value card upon a pre-determined expiration date of the stored value card.

25. A computer-implemented system for issuing a stored value card affiliated with a predetermined card transaction processing network and an issuer, the system comprising:

a processor for presenting an individual human purchaser with an opportunity to buy the stored value card;

a processor for determining with a computer processor whether the individual human purchaser has sufficient funds to pay for the stored value card;

a processor for establishing in a computer database of the issuer an independent stored value card account for a recipient designated by the individual human purchaser, wherein the independent stored value card account comprises information about;

(a) the recipient'"'"'s name;

(b) the stored value account number; and

(c) a stored value initial issue amount;

a processor for issuing the stored value card by the issuer, wherein, prior to issuance, the stored value card is marked with the name of the recipient, the stored value account number, and an issuer identification indicia, and wherein the stored value card is accepted for purchase anywhere the predetermined card transaction processing network is accepted for purchases;

a processor for reloading the independent stored value card account in response to receiving a reload request from the recipient; and

a processor for receiving notification from the recipient that the stored value card has been received.

26. The computer-implemented system of claim 25, the independent stored value account not being accessible to the purchaser such that the purchaser is unable to add funds to the account beyond the initial issue amount.

27. The computer-implemented system of claim 25, further comprising:

a processor for verifying the identity of the recipient.

28. The computer-implemented system of claim 27, further comprising:

a processor for activating the stored value card based on the verifying the identity of the recipient.

29. The computer-implemented system of claim 27, wherein the processor for activating the stored value card is configured to verify at least one selected from the group consisting of a recipient name, recipient address, and recipient telephone number.

30. The computer-implemented system of claim 25, wherein the processor for receiving notification is configured to receive notification that is separate from and not based on a recipient'"'"'s use of the card to execute a stored value card transaction.

31. The computer-implemented system of claim 25, further comprising:

a processor for identifying the individual human purchaser.

32. The computer-implemented system of claim 25, further comprising:

a processor for identifying the individual human purchaser by at least one of a name, address, account number, and social security number.

33. The computer-implemented system of claim 25, wherein the initial issue amount is determined by the individual human purchaser.

34. The computer-implemented system of claim 25, wherein the individual human purchaser pays for the stored value card using at least one of a credit card, a check, or cash.

35. The computer-implemented system of claim 25, wherein determining whether the individual human purchaser has sufficient funds to pay for the stored value card comprises accessing the individual human purchaser'"'"'s credit limit to verify that sufficient credit is available to cover the initial issue amount.

36. The computer-implemented system of claim 25, wherein the stored value card is encoded to record the initial issue amount.

37. The computer-implemented system of claim 25, further comprising:

a processor for monitoring account information, wherein the account information comprises at least one selected from the group consisting of the current balance, account debits, account credits, transaction updates, and account status.

38. The computer-implemented system of claim 25, wherein the processor for presenting an individual human purchaser with an opportunity to buy the stored value card is configured to distribute a written solicitation to one or more potential purchasers.

39. The computer-implemented system of claim 25, wherein the processor for presenting an individual human purchaser with an opportunity to buy the stored value card is configured to cause potential purchasers to be notified orally.

40. The computer-implemented system of claim 39, wherein the processor for presenting an individual human purchaser with an opportunity to buy the stored value card comprises an electronic telecommunications device.

41. The computer-implemented system of claim 25, wherein the processor for presenting an individual human purchaser with an opportunity to buy the stored value card is configured to publish an offer to purchase the stored value card on an Internet web site.

42. The computer-implemented system of claim 25, wherein the stored value card is active for a predetermined period of time.

43. The computer-implemented system of claim 25, where the predetermined card transaction processing network and the issuer are the same.

44. The computer-implemented system of claim 25, where the predetermined card transaction processing network and the issuer are different entities.

45. The computer-implemented system of claim 25, further comprising:

a processor for notifying the individual human purchaser of card usage information, wherein the card usage information comprises at least one selected from the group consisting of what products were purchased using the card and where the card was used.

46. The computer-implemented system of claim 25, further comprising:

means for deactivating the stored value card upon a pre-determined expiration date of the stored value card.

47. A computer-implemented method for issuing a stored value card affiliated with a predetermined card transaction processing network and an issuer, the method comprising:

presenting an individual human purchaser with an opportunity to buy the stored value card;

determining with a computer processor whether the individual human purchaser has sufficient funds to pay for the stored value card;

establishing in a computer database of the issuer an independent stored value card account for a recipient designated by the individual human purchaser, wherein the independent stored value card account comprises information about;

(a) the recipient'"'"'s name;

(b) the stored value account number; and

(c) a stored value initial issue amount determined by the individual human purchaser;

issuing the stored value card by the issuer, wherein, prior to issuance, the stored value card is marked with the name of the recipient, the stored value account number, and an issuer identification indicia, and wherein the stored value card is accepted for purchase anywhere the predetermined card transaction processing network is accepted for purchases, the independent stored value card account being accessible by the recipient such that the recipient can add funds to the account beyond the initial issue amount;

receiving notification from the recipient that the stored value card has been received, wherein said notification occurs separate from and is not based on a recipient'"'"'s use of the card to execute a stored value card transaction, wherein the act of receiving notification from the recipient activates the stored value card; and

notifying the individual human purchaser that the stored value card has been received by the recipient.