Systems, methods and devices for selling transaction instruments

• US 7,455,222 B2
• Filed: 08/24/2007
• Issued: 11/25/2008
• 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: Keiser, Steven J, Page, Clyde, Miller, Sven, Martinez, Paula S, Imada, John Steven, Heitz, Rachel Riley, Feldman, Gennye, Beck, Randy
• Primary Examiner(s): St. Cyr, Daniel
• Application Number:
  US11/844,663
• Publication Number:
  US 20070294169A1
• Time in Patent Office: 459 Days
• Field of Search: 235/380, 235/375, 235/379, 235/381, 235/382, 235/385, 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:

offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, and wherein the open transaction instrument is associated with a transaction account;

acquiring a tracking code, wherein at least one of;

a package and the open transaction instrument includes the tracking code, wherein the package contains the open transaction instrument, wherein the tracking code is associated with an account code, and wherein the open transaction instrument includes an account code; and

,

receiving approval of the tracking code to enable a purchase of the open transaction instrument.

2. The method of claim 1, further comprising receiving approval of the tracking code by transmitting the tracking code to a third party for approval, and receiving from the third party an approval related to the tracking code.

3. The method of claim 1, further comprising facilitating funding of the open transaction instrument.

4. The method of claim 1, further comprising facilitating funding of the open transaction instrument by facilitating at least one of:

initial loading of funds, partial funding, re-loading funds and funding at a time subsequent to purchase.

5. The method of claim 1, further comprising facilitating activating the open transaction instrument.

6. The method of claim 1, further comprising facilitating activating the open transaction instrument at least one of:

before, during and after funding of the open transaction instrument occurs.

7. The method of claim 1, further comprising facilitating funding the open transaction instrument at least one of:

before, during and after activation of the open transaction instrument occurs.

8. The method of claim 1, further comprising enabling the consumer to at least one of:

fund and activate the open transaction instrument via at least one of;

computer, personal digital assistant, cellular phone, website, mail, email, telephone, and facsimile.

9. The method of claim 1, further comprising causing the transaction account associated with the transaction instrument to have a monetary amount that is available when the transaction instrument is activated.

10. The method of claim 1, further comprising facilitating activating the transaction account associated with the open transaction instrument at a time subsequent to the time when the transaction account is caused to have a monetary amount.

11. The method of claim 1, further comprising facilitating activating the transaction account associated with the open transaction instrument at a time subsequent to the time when the transaction account is caused to have a monetary amount, wherein activating the open transaction instrument occurs automatically.

12. The method of claim 1, wherein the step of receiving approval of the tracking code includes use of a personal identification number (PIN).

13. The method of claim 1, wherein the open transaction instrument is the account code.

14. The method of claim 1, wherein the open transaction instrument is at least one of:

the account code printed on paper, the account code encoded into an RFID device, and a signal of the account code transmitted to a personal digital assistant of the consumer.

15. The method of claim 1, wherein the tracking code is presented in at least one of:

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

16. The method of claim 1, wherein the account code is presented in at least one of:

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

17. The method of claim 1, wherein the account code is visually displayed on the open transaction instrument.

18. The method of claim 1, wherein receiving approval includes receiving a confirmation of the tracking code.

19. A method for processing a payment from an open transaction instrument purchased in a retail environment, comprising:

sending a request to debit a purchase amount from a balance of a transaction account associated with the open transaction instrument, wherein an account code is associated with the transaction account, wherein at least one of;

a package and the open transaction instrument includes a tracking code, wherein the package contains the open transaction instrument, and wherein the open transaction instrument was directly accessible by the consumer and activated using the tracking code; and

,

receiving at least one of;

(i) at least one approval that the transaction account associated with the open transaction instrument is a valid transaction account and has a balance that is at least equal to the purchase amount such that the balance is reduced by the purchase amount; and

,

(ii) receiving a decline of the request when the transaction account associated with the open transaction instrument has a monetary amount balance that is less than the purchase amount.

20. The method of claim 19, wherein the purchase amount includes at least one of:

cash equivalent value and loyalty points.

21. The method of claim 19, wherein the balance includes at least one of:

cash equivalent value and loyalty points.

22. The method of claim 19, further comprising receiving from the consumer a personal identification number (PIN) for conducting transactions with the open transaction instrument.

23. The method of claim 19, wherein the open transaction instrument is configured to be generally accepted by at least one of:

merchants that are not directly affiliated with each other, merchants within one shopping mall, merchants within one payment network, merchants within one country, and merchants within one geographic region.

24. A method for purchasing from a merchant within a retail establishment an open transaction instrument included in a package, comprising:

selecting the package from a directly accessible location within the retail establishment, wherein the open transaction instrument is associated with a transaction account, and wherein an account code is associated with the open transaction instrument and at least of;

the package and the open transaction instrument includes a tracking code;

purchasing the open transaction instrument by providing funds to the merchant, wherein the merchant transmits the tracking code for approval.

25. The method of claim 24, further comprising receiving from the consumer a personal identification number (PIN) for conducting transactions with the open transaction instrument.