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System and processes for dispensing value to cardholder in response to an authorization over an electric data network

  • US 7,707,048 B1
  • Filed: 02/10/2001
  • Issued: 04/27/2010
  • Est. Priority Date: 02/10/2000
  • Status: Active Grant
First Claim
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1. A method for distributing insurance payments using claim cards using a system which includes a remote card processing unit in communication with a computer network and a central computer, each claim card having a claim card account associated therewith, the method comprising:

  • transferring funds to a claim card account in settlement of a claim of an insured party using the central computer via the computer network,defining one or more permitted locations of use of a claim card associated with the claim card account,distributing the claim card to the insured party,receiving a request from the remote card processing unit via the computer network for authorization for an attempted purchase by the insured party using the claim card,using the central computer, determining whether an amount of the attempted purchase is less than or equal to an available balance of the claim card account,using the central computer, determining whether the attempted purchase is at a permitted location defined for the claim card account,using the central computer, authorizing the attempted purchase if the amount of the attempted purchase is less than or equal to the available balance of the claim card account and the attempted purchase is at a permitted location, andtransferring funds from the claim card account via the computer network to pay for an authorized purchase.

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