systems, methods and devices for selling transaction instruments

• US 7,458,509 B2
• Filed: 08/24/2007
• Issued: 12/02/2008
• Est. Priority Date: 03/12/2004
• Status: Expired due to Fees

• 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:
  US11/844,702
• Publication Number:
  US 20080015991A1
• Time in Patent Office: 466 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 creating open transaction instruments for use in a retail environment, comprising:

configuring each of the account codes to respectively correspond to each transaction account, wherein the open transaction instrument is associated with the transaction account, wherein at least one of;

a package and the open transaction instrument includes a tracking code, and wherein the package contains the open transaction instrument;

facilitating use of the open transaction instrument, wherein the open transaction instrument is offered by a merchant to a consumer and is directly accessible by the consumer; and

,

transmitting the account codes and tracking codes to a third party, wherein the third party facilitates at least one of;

embossing, printing and encoding each of the account codes on a respective open transaction instrument, and at least one of;

embossing, printing and encoding each of the tracking codes on a respective at least one of;

the package and the open transaction instrument.

2. The method of claim 1, further comprising facilitating associating each tracking code with each of the respective account codes.

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

4. The method of claim 1, further comprising transmitting the account codes to a third party, wherein the third party facilitates establishing each tracking code that respectively corresponds to each of the account codes.

5. The method of claim 1, wherein at least one of:

a package and the open transaction instrument includes the tracking code, such that the tracking code is at least one of;

on the package, in the package, on the open transaction instrument, and on another item within the package.

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

7. 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.

8. 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.

9. 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.

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

11. A method for funding an open transaction instrument for use in a retail environment, comprising:

receiving at least one of;

a tracking code and an account code associated with the open transaction instrument, wherein the account code is a conversion from a corresponding tracking code that is also associated with the open transaction instrument, wherein the open transaction instrument is directly accessible by the consumer, and wherein at least one of;

a package and the open transaction instrument includes the tracking code, wherein the package contains the open transaction instrument;

receiving a funding request;

verifying the validity of at least one of;

the account code and the tracking code; and

,

transmitting an approval of the funding request.

12. The method of claim 11, wherein the step of receiving further comprises receiving from at least one of:

a merchant, the consumer and a third party, the at least one of;

the tracking code and the account code.

13. The method of claim 11, wherein the step of receiving comprises receiving in a funding message the at least one of:

the tracking code and the account code.

14. The method of claim 11, further comprising verifying that the funds in the transaction account are at least equal to the funding request.

15. The method of claim 11, wherein the funding request relates to at least one of:

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

16. The method of claim 11, further comprising facilitating activating the open transaction instrument.

17. The method of claim 11, further comprising facilitating activating the open transaction instrument at least one of:

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

18. The method of claim 11, further comprising funding the open transaction instrument at least one of:

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

19. The method of claim 11, further comprising receiving from the consumer at least one of:

the fund request and an activation request via at least one of;

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

20. The method of claim 11, 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.

21. The method of claim 11, 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.

22. The method of claim 11, 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.

23. The method of claim 11, wherein receiving the funding request further comprises receiving a personal identification number (PIN).

24. A method for facilitating communication of payment messages between an issuing bank and a merchant, wherein the payment messages relate to a transaction account associated with an open transaction instrument purchased in a retail environment, comprising:

transmitting from the merchant to the issuer a request to debit a purchase amount from a balance of the transaction account, wherein an account code is associated with the transaction account, wherein at least one of;

a package and the open transaction instrument includes the 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 the merchant and from the issuer, a message that indicates that the transaction account associated with the open transaction instrument is a valid transaction account, the balance of the transaction account associated with the open transaction instrument is at least equal to the purchase amount and the balance will be reduced by the purchase amount.

25. A method for creating open transaction instruments for use in a retail environment, comprising:

configuring each of the account codes to respectively correspond to each transaction account, wherein the open transaction instrument is associated with the transaction account, wherein at least one of;

a package and the open transaction instrument includes a tracking code, and wherein the package contains the open transaction instrument;

facilitating use of the open transaction instrument, wherein the open transaction instrument is offered by a merchant to a consumer and is directly accessible by the consumer; and

,

transmitting the account codes to a third party, wherein the third party facilitates establishing each tracking code that respectively corresponds to each of the account codes.