System and method for child card payment

• US 7,631,803 B2
• Filed: 07/12/2006
• Issued: 12/15/2009
• Est. Priority Date: 07/19/2005
• Status: Expired due to Fees

• Current Assignee: Plastyc Incorporated
• Original Assignee: Plastyc Incorporated
• Inventors: Teicher, Mordechai, Peyret, Patrice
• Primary Examiner(s): Lee; Michael G
• Assistant Examiner(s): KELLY, RAFFERTY D
• Application Number:
  US11/485,825
• Publication Number:
  US 20070017976A1
• Time in Patent Office: 1,252 Days
• Field of Search: 235/380, 705/44, 705/14, 705/39, 705/41
• 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 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/2295 Parent-child type, e.g. where parent has control on child rights
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• 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 20/403 Solvency checks
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A transaction system suitable for payment by card includes a child account associated with a parent account. The transaction system receives from the parent a data set representing rules which specify on which purchases the child will benefit from an incentive such as discount, coupon, rebate or gift. Upon a purchase transaction with the child card, the system detects an eligible purchase by producing a result data set from the rules data entered by the parent and the particulars of the purchase transaction, where the result data represents the appropriate incentive granted, if any, and directs the system to charge the incentive cost to the parent account.

Claims

1. A computer assisted transaction method, using a payment card being associated with a first account having a first account holder, said first account being in turn associated with a second account having a second account holder, the method comprising:

receiving rule data from said second account holder, in connection with said payment card, said rule data associating condition data with corresponding result data;

receiving data of a specific purchase made using the payment card;

processing an incentive when the data of the specific purchase matches condition data in said rule data, the processing further comprising;

deriving actual result data from one or more condition data being matched;

executing a transaction related to said specific purchase with modifications derived from said actual result data, thereby charging to said first account an actual payment amount which is greater than zero and does not exceed the specific purchase'"'"'s cost; and

charging a cost derived from said actual result data to said second account; and

executing the transaction for the specific purchase by the payment card when the specific purchase does not match the condition data in the rule data wherein executing the transaction further comprises charging a cost of the specific purchase to the first account.

2. The method of claim 1, wherein said actual payment amount is reduced, in comparison to the specific purchase'"'"'s cost, by a discount amount derived from actual result data, and wherein charging the cost further comprises charging a cost which includes said discount amount.

3. The method of claim 1, wherein said actual payment amount is reduced, in comparison to the specific purchase'"'"'s cost, by a coupon value derived from-the actual result data, and wherein charging the cost further comprises charging a cost which includes said coupon value.

4. The method of claim 1, wherein executing the transaction further comprises applying a rebate that credits the first account by a rebate amount, and wherein charging the cost further comprises charging a cost which includes said rebate amount.

5. The method of claim 4, wherein receiving rule data from said second account holder further comprises receiving condition data including a receipt of a proof-of-purchase evidence, associated with actual result data, and wherein executing the transaction further comprises receiving a proof-of-purchase evidence, to determine whether such condition data are being matched.

6. The method of claim 1, wherein executing the transaction further comprises delivering a gift, and wherein charging the cost further comprises charging a cost which includes the cost of said gift.

7. The method of claim 1, wherein said condition data further comprises at least one condition selected from the group consisting of merchant-related condition data, item-related condition data, kind-related condition data, quantity restricting condition data and time restricting condition data.

8. The method of claim 1, wherein the first account holder is a child and the second account holder is a parent.

9. The method of claim 8 further comprising providing a sponsor of the first account holder wherein the sponsor provides sponsor rule data, in connection with said payment card, said sponsor rule data associating condition data with corresponding result data.

17. The system of claim 1, wherein said modified transaction includes a gift, and said cost includes said gift'"'"'s cost.

10. A transaction system, comprising:

a card for use by a first account holder to effect payments from a first account;

a second account of a second account holder, said first account being associated with the second account;

a merchant point of sale system for receiving the card for payment; and

a back-end system operative to;

maintain rule data in connection with said card, said rule data associating condition data with corresponding result data, and said rule data being editable by said second account holder, and viewable by said first account holder;

receive a specific purchase to be paid using said card at said merchant point of sale system,

process an incentive when the specific purchase matches condition data in said rule data by;

deriving actual result data from one or more condition data being matched;

enforcing a modified transaction related to said specific purchase with modifications derived from said actual result data, the modified transaction includes charging at least part of said specific purchase'"'"'s cost to said first account; and

charging cost derived from said actual result data to said second account; and

execute the transaction for the specific purchase by the card when the specific purchase does not match the condition data in the rule data by charging a cost of the specific purchase to the first account.

11. The system of claim 10, wherein receiving the specific purchase further comprises communicating with said merchant point of sale system.

12. The system of claim 11, wherein enforcing the modified transaction is effected by said back-end system communicating with said merchant point of sale system.

13. The system of claim 10, wherein receiving the specific purchase further comprises receiving a proof-of-purchase evidence without communicating with said point of sale system.

14. The system of claim 10, wherein said modified transaction has a discount that reduces said specific purchase price by a discount amount, and said cost includes said discount amount.

15. The system of claim 10, wherein said modified transaction has a coupon that reduces said specific purchase price by a coupon value, and said cost includes said coupon value.

16. The system of claim 10, wherein said modified transaction has a rebate that credits said first account by a rebate amount, and said cost includes said rebate amount.

18. The system of claim 10, wherein said condition data comprises at least one condition selected from the group consisting of merchant-related condition data, item-related condition data, kind-related condition data, quantity restricting condition data and time restricting condition data.

19. The system of claim 10, wherein the first account holder is a child and the second amount holder is a parent.

20. The system of claim 19 further comprising a sponsor of the first account holder, wherein the sponsor provides sponsor rule data, in connection with said card, said sponsor rule data associating condition data with corresponding result data.

21. A back-end system cooperating with a merchant point of sale system that receives a card of a first account holder to effect payment from a first account for a specific purchase, the first account being associated with a second account of a second account holder, the back-end system comprising:

a charge back-end system for effecting charge operations to the first account and the second account;

an incentive management system operative to maintain rule data in connection with the card, said rule data associating condition data with corresponding result data, and said rule data being editable by said second account holder, and viewable by said first account holder; and

an incentive settlement system operative to receive the specific purchase from the merchant point of sale system, and process an incentive when the specific purchase matches condition data in said rule data by;

deriving actual result data from one or more condition data being matched, and enforcing a modified transaction related to the specific purchase with modifications derived from said actual result data, the modified transaction includes;

operating said charge back-end system to charge at least part of said specific purchase'"'"'s cost to said first account, and operating said charge back-end system to charge cost derived from said actual result data to said second account; and

the incentive settlement system operative to execute the transaction for the specific purchase by the payment card when the specific purchase does not match the condition data in the rule data by charging a cost of the specific purchase to the first account.