Voucher system and method of use

• US 7,735,726 B2
• Filed: 11/17/2005
• Issued: 06/15/2010
• Est. Priority Date: 11/17/2005
• Status: Expired due to Fees

• Current Assignee: Target Brands Inc. (Target Corporation)
• Original Assignee: Target Brands Inc. (Target Corporation)
• Inventors: Schultz, Mark A., Oakman, Token Lee, Bjoraker, Erik BenDon
• Primary Examiner(s): Le; Thien M.
• Assistant Examiner(s): Mai; Thien T
• Application Number:
  US11/281,799
• Publication Number:
  US 20070108270A1
• Time in Patent Office: 1,671 Days
• Field of Search: 235/380, 235/379, 235/375, 705/14, 705/9, 705/8, 705/513, 705/41, 705/26, 705/35, 705/39
• 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 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• 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 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A system for managing voucher use includes a database, a voucher, and a processor. The database stores an account defining at least one approved item available for purchase and a financial balance. The voucher includes an identifier linking the voucher to the account. The processor is in communication with the database and is adapted to use the identifier to access the account. The processor is adapted to determine if an item selected for purchase is an approved item and to apply at least a portion of the financial balance toward the purchase of the selected item only if the selected item is an approved item. Other voucher systems and associated methods are also disclosed.

Claims

1. A method for supporting financial transaction instruments and for accepting the financial transaction instruments toward purchases of items, the method comprising:

maintaining a database storing a plurality of accounts;

providing a plurality of financial transaction instruments to a relief organization, each of the plurality of the financial transaction instruments including an identifier linking each of the plurality of financial transaction instruments to a different corresponding one of the plurality of accounts;

receiving monetary value from the relief organization to fully fund an initial prepaid financial balance for each of the plurality of accounts, wherein the relief organization is configured to distribute each one of the plurality of financial transaction instruments to a different beneficiary to allow the different beneficiary to use the initial prepaid financial balance for the different corresponding one of the plurality of accounts linked to the one of the plurality of financial transaction instruments toward at least one purchase of one or more items offered for retail sale;

reading with a point-of-sale terminal located at a retail site operated by a retail organization the identifier of the one of the plurality of financial transaction instruments presented at the point-of-sale terminal;

accessing, via the point-of-sale terminal, the different corresponding one of the plurality of accounts linked to the identifier read with the point-of-sale terminal, wherein the different corresponding one of the plurality of accounts defines approved items for the different beneficiary, wherein the database is electrically accessible via the point-of-sale terminal;

determining whether selected items presented for purchase at the point-of-sale terminal are approved items as defined by the different corresponding one of the plurality of accounts;

applying the one of the plurality of financial transaction instruments toward a cost of ones of the selected items determined to be approved items via the point-of-sale terminal, wherein applying the one of the plurality of financial transaction instruments includes applying up to all of the initial prepaid financial balance associated therewith toward the cost of the ones of the selected items determined to be approved items; and

refunding to the relief organization any of the initial prepaid financial balance funded by the relief organization remaining in the different corresponding ones of the plurality of accounts after application of the one of the plurality of financial transaction instruments toward the cost if any of the initial prepaid financial balance funded by the relief organization remains;

wherein all the steps of maintaining, providing, receiving, reading, accessing, determining, applying, and refunding are performed by the retail organization.

2. The method of claim 1, further comprising:

preventing use of the one of the plurality of financial transaction instruments toward a cost of the selected items determined not to be approved items.

3. The method of claim 1, further comprising:

collecting data at the point-of-sale terminal about the application of the one of the plurality of financial transaction instruments toward the cost of the selected items determined to be approved items, wherein the data includes details identifying the selected items; and

storing the collected data to the different corresponding one of the plurality of accounts.

4. The method of claim 1, further comprising:

reporting the application of the one of the plurality of the financial transaction instruments toward the cost to the different corresponding one of the plurality of accounts; and

updating the initial prepaid financial balance defined by the different corresponding one of the plurality of accounts based on the cost of the selected items determined to be approved items.

5. The method of claim 1, further comprising:

permitting access to the plurality of accounts via a website, wherein the website is configured to allow the relief organization to order additional financial transaction instruments and to manage the plurality of accounts associated with the additional financial transaction instruments via a computer processing unit in electrical communication with the database via an Internet.

6. The method of claim 1, wherein refunding to the relief organization occurs upon receiving a request for refunding provided by the relief organization to a website operated by the retail organization, and the request follows a predetermined expiration date provided by the relief organization for the corresponding one of the plurality of accounts.

7. The method of claim 6, wherein refunding to the relief organization includes:

refunding the any of the initial prepaid financial balance funded by the relief organization remaining in the corresponding different one of the plurality of accounts to a credit account provided by the retail organization for the relief organization,

accepting funds in the credit account from the refunding to fund a prepaid financial balance of another one of the plurality of financial transaction instruments, and

the another one of the plurality of financial transaction instruments being provided by the relief organization to a second beneficiary that differs from the different beneficiary provided the one of the plurality of financial transaction instruments.