System and method for using a stored value account having subaccount feature
First Claim
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1. A stored value system, comprising:
- a stored value account on a computer readable medium, the stored value account comprising a general stored value account and at least one stored value subaccount, the stored value subaccount representing a category and storing category specific stored value;
the general stored value account containing stored value, comprising funds, accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption;
the stored value subaccount having stored value, comprising funds, being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount;
the stored value account on the computer readable medium providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount;
the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer;
an account access interface; and
an access mechanism for allowing access to the stored value account through the use of the account access interface.
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Abstract
A stored value account includes a general stored value field and may include at least one stored value sub-field. The sub-field may represent a category and include category-specific benefits stored in the sub-field by a issuer of the stored-value account. The category benefits may include discounts, loyalty points, merchant specific stored value or merchant promotions. The category represented may include a group of institutions, a location specific institution or a varied location institution. Both an institutional client and a consumer client may load value into the stored value account.
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Citations
24 Claims
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1. A stored value system, comprising:
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a stored value account on a computer readable medium, the stored value account comprising a general stored value account and at least one stored value subaccount, the stored value subaccount representing a category and storing category specific stored value; the general stored value account containing stored value, comprising funds, accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption; the stored value subaccount having stored value, comprising funds, being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount; the stored value account on the computer readable medium providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount; the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer; an account access interface; and an access mechanism for allowing access to the stored value account through the use of the account access interface. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for processing stored value account transactions, comprising:
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a computer readable medium comprising a general stored value account and at least one stored value subaccount, the computer readable medium corresponding to a stored value account for a specific stored value accountholder; the general stored value account containing stored value, comprising funds, that is accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption; and the stored value subaccount representing a category and including category-specific stored value, comprising funds, stored in the subaccount of the stored-value account, the stored value subaccount being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount; the stored value account on the computer readable medium providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount; the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer; and a processor for processing redemption transactions from the general account or the subaccount based on data stored on the computer readable medium for the general account or subaccount, the processor processing the redemption transactions to redeem funds from the general account or the subaccount. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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17. A computer-implemented method for enabling a cashless transaction, comprising the steps of:
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receiving a stored value request; using a computer to establish on a computer readable medium a stored value account including both a general stored value account and at least one category specific stored value subaccount; and storing on said computer readable medium at least one of (a) a general stored value, comprising funds, based on the stored value request, in the general stored value account of the stored value account and (b) a category specific stored value, comprising funds, corresponding to an institution associated with the category, in the stored value subaccount of the stored value account, the general stored value account containing stored value, comprising funds, that is accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption, and the category specific value being accessible for redemption when a stored value transaction corresponds to the category of the subaccount; the stored value account on the computer readable medium providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount; the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer; the computer readable medium corresponding to a stored value account for a specific stored value accountholder; and the computer readable medium being readable by a computer upon the accountholder attempting a stored value transaction in order to process redemption against at least one of the general stored value account and the stored value subaccount. - View Dependent Claims (18, 19)
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20. A system for enabling a cashless transaction, comprising:
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means for receiving a stored value request for placing stored value in a stored value account on a computer readable medium; means for storing a general value based on the stored value request in a general stored value account of a stored value account, the general stored value account containing stored value, comprising funds, that is accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption; and means for storing a category specific stored value, comprising funds, corresponding to an institution in a stored value subaccount of the stored value account, the stored value subaccount being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount, including; means for storing a category specific stored value corresponding to the institution based on the stored value request when a category specific stored value is requested; and the stored value account on the computer readable medium providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount; and the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer.
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21. A computer readable medium, the computer readable medium storing computer readable code executable to perform a process for enabling a cashless transaction, wherein the process of enabling the cashless transaction comprises the steps of:
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receiving a stored value request; storing under the control of a computer executing said code a general value in a computer database based on the stored value request in a general stored value account of a stored value account, the general stored value account containing stored value, comprising funds, that is accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption; and storing under the control of a computer executing said code a category specific stored value, comprising funds, in the computer database corresponding to an institution in a stored value subaccount of the stored value account, the stored value subaccount being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount, including; storing a category specific stored value corresponding to the institution based on the stored value request when a category specific stored value is requested; and the stored value account providing for the stored value accountholder to access funds associated with multiple stored value accounts comprising at least the general stored value account and the stored value subaccount; and the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer.
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22. A stored value system comprising:
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a stored value account on a computer readable medium comprising a general stored value account and a stored value subaccount associated with a category; the general stored value account containing stored value, comprising funds, that is accessible by the stored value accountholder for redemption wherever the stored value account is accepted for redemption; the stored value subaccount having stored value, comprising funds, and being accessible for the stored value accountholder for redemption when a stored value transaction corresponds to the category of the subaccount; an account access interface including means for permitting access by a consumer client, and means for permitting access by an institutional client wherein the institutional client corresponds to the category of the stored value subaccount and the institutional client can access the subaccount to load the subaccount with category-specific stored value; the stored value account permitting an individual bearing a stored value account access mechanism to access each of the general stored value account and the category-specific stored value subaccount, and both the general stored value account and the stored value subaccount being associated with the same issuer; and the access mechanism for allowing access to the stored value account through the account access interface. - View Dependent Claims (23, 24)
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Specification