Systems, methods and devices for selling transaction instruments

• US 7,624,921 B1
• Filed: 08/24/2007
• Issued: 12/01/2009
• Est. Priority Date: 03/12/2004
• Status: Expired

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Beck, Randy, Keiser, Steven J, Page, Clyde, Miller, Sven, Martinez, Paula S, Imada, John Steven, Heitz, Rachel Riley, Feldman, Gennye
• Primary Examiner(s): St. Cyr, Daniel
• Application Number:
  US11/844,766
• Time in Patent Office: 830 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 an open transaction instrument for use in a retail environment, comprising:

receiving account codes and tracking codes, wherein one of the account codes respectively correspond to one of the tracking codes, wherein one of the account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein a package contains the open transaction instrument;

at least one of;

embossing, printing and encoding one of the tracking codes at least one of;

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

,

facilitating distribution 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.

2. The method of claim 1, further comprising at least one of:

embossing, printing and encoding one of the account codes on the respective open transaction instrument.

3. The method of claim 1, further comprising inserting the open transaction instrument into the package having the tracking code that corresponds to the account code of the open transaction instrument.

4. The method of claim 1, further comprising at least one of:

embossing, printing and encoding indicia of a product sponsor on the open transaction instrument.

5. The method of claim 1, further comprising incorporating onto the open transaction instrument at least one of:

a magnetic stripe, RFID, antenna, smart chip, bar code, and clear surface.

6. The method of claim 1, further comprising locating the tracking code on the open transaction instrument such that the tracking code is visible through the package.

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

paper, 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, further comprising presenting the tracking code 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, further comprising presenting the account code 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, further comprising visually displaying the account code on the open transaction instrument.

11. An apparatus having an open transaction instrument included in a package that is configured to be distributed in a retail environment, the apparatus comprising:

the open transaction instrument configured to be offered by a merchant to a consumer and the open transaction instrument is configured to be directly accessible by a 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 is associated with a transaction account;

the open transaction instrument having an account code associated with the open transaction instrument, wherein the account code is one of a plurality of account codes, wherein one of the plurality of account codes respectively correspond to one of a plurality of tracking codes, wherein one of the plurality of account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein the package contains the open transaction instrument; and

,

a tracking code, wherein the tracking code is one of the plurality of tracking codes, wherein at least one of;

the open transaction instrument, the package, and another item within the package, includes the tracking code.

12. The apparatus of claim 11, wherein the open transaction instrument includes indicia of a product sponsor.

13. The apparatus of claim 11, further comprising at least one of:

a magnetic stripe, RFID, antenna, smart chip, bar code, and clear surface.

14. The apparatus of claim 11, further comprising the tracking code located on the open transaction instrument and visible through the package.

15. The apparatus of claim 11, wherein the open transaction instrument is the account code.

16. The apparatus of claim 11, 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.

17. The apparatus of claim 11, 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.

18. The apparatus of claim 11, 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.

19. The apparatus of claim 11, wherein the account code is visually displayed on the open transaction instrument.