Systems, methods and devices for selling transaction instruments

• US 7,344,067 B2
• Filed: 11/06/2006
• Issued: 03/18/2008
• Est. Priority Date: 03/12/2004
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Imada, John Steven, Heitz, Rachel Riley, Feldman, Gennye, Beck, Randy, Keiser, Steven J, Page, Clyde, Miller, Sven, Martinez, Paula S
• Primary Examiner(s): St. Cyr, Daniel
• Application Number:
  US11/556,953
• Publication Number:
  US 20070057045A1
• Time in Patent Office: 498 Days
• Field of Search: 235/380, 235/375, 235/379, 235381-385, 235/487, 235/492, 235/493
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The present invention generally relates to a system and method for distributing an open transaction instrument. The system includes the steps of: accessibly offering for sale, in a retail environment, the open transaction instrument; selling a selected open transaction instrument; and enabling the use of the open transaction instrument. The transaction instrument may be, for example, an open pre-paid card. Furthermore, accessibly offering the open pre-paid card for sale, in one exemplary embodiment, is performed by hanging the pre-paid card on a rack. The distribution of the open transaction instrument may also comprise the step of sending a message, in substantially real time, causing the pre-paid open transaction instrument to be funded but not activated. Also, in accordance with further exemplary embodiments of the present invention, an issuer system is suitably configured to leverage existing infrastructure for inventory and related processes.

Claims

1. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:

offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, wherein the open transaction instrument does not require use of a personal identification number (PIN), wherein the open transaction instrument is associated with a transaction account, and wherein the open transaction instrument comprises at least one of a pre-paid card, a credit card, and a debit card that is accepted at a plurality of merchants that are not directly affiliated with each other;

facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer;

visibly displaying a tracking code on the open transaction instrument; and

associating a randomized card number with the open transaction instrument.

2. The method of claim 1, wherein associating a randomized card number with the open transaction instrument comprises at least one of embossing and printing the randomized card number on the open transaction instrument.

3. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:

offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument does not require use of a personal identification number (PIN), wherein the open transaction instrument is associated with a transaction account, and wherein the open transaction instrument is accepted at a plurality of merchants that are not directly affiliated with each other;

facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer;

causing at least one of a package and the open transaction instrument to include a tracking code; and

causing a card number to be displayed on the open transaction instrument.

4. The method of claim 3, wherein the tracking code is included in at least one of a:

numerical format, bar code format, and magnetic stripe format; and

wherein the card number is displayed on the open transaction instrument by at least one of embossing and printing the card number on the open transaction instrument, and wherein the open transaction instrument comprises at least one of a pre-paid card, a credit card, and a debit card.

5. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:

offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, wherein the open transaction instrument does not require use of a personal identification number (PIN), and wherein the open transaction instrument is associated with a transaction account;

facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer; and

causing a card number to be displayed on the open transaction instrument, wherein a tracking code is included on at least one of;

a package and the open transaction instrument.

6. The method of claim 5, wherein the tracking code is included in at least one of a:

numerical format, code format, bar code format, radio frequency format and magnetic stripe format.