Debit purchasing of stored value card for use by and/or delivery to others

• US 7,747,463 B1
• Filed: 04/21/2008
• Issued: 06/29/2010
• Est. Priority Date: 06/22/1998
• Status: Expired due to Fees

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Phillips, Gregory Joseph, Deporte, Rebecca, Norwine, Jeffrey, Joines, Penny
• Primary Examiner(s): MEINECKE DIAZ, SUSANNA M
• Application Number:
  US12/106,407
• Time in Patent Office: 799 Days
• Field of Search: 705/14, 705/41
• US Class Current: 705/14.31
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• 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 20/355 Personalisation of cards for use
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0231 Awarding of a frequent usage incentive independent of the monetary value of a good or service purchased, or distance travelled
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A method of issuing a purchase card is provided. The method includes the steps of presenting a purchaser with the opportunity to buy the purchase card, determining whether the purchaser has sufficient funds to pay for the purchase card, creating a purchase card account for a recipient designated by the purchaser, and issuing the purchase card. The purchase card may also be issued in connection with another credit card, for example as a rebate for purchases on the credit card. The purchase card may also be converted to a credit card.

Claims

1. A computer-implemented method for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining, by at least one computer processor, a rebate amount based upon one or more purchases made by a purchaser, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

creating, by at least one computer processor, in a computer database a stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value account comprises information about;

a) a stored value account number, and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants or types of merchants designated by the issuer or a sponsor of the card and are affiliated with the transaction network;

issuing a stored value card associated with the stored value account; and

activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

2. The method of claim 1, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network and issuer identification indicia associated with the issuer.

3. The method of claim 2, wherein the stored value account further comprises information about:

a cardholder'"'"'s name, wherein the cardholder comprises the purchaser or the intended recipient.

4. The method of claim 3, wherein the stored value card is further marked with the cardholder'"'"'s name before issuance.

5. The method of claim 1, wherein activation of the stored value card or account comprises activating the stored value card or account for a predetermined period of time.

6. The method of claim 1, wherein the purchaser designates the intended recipient of the stored value card.

7. The method of claim 1, wherein the intended recipient and the purchaser are the same person or entity.

8. The method of claim 1, wherein the purchaser or intended recipient may add funds to the stored value account.

9. The method of claim 1, further comprising:

disclosing terms of the rebate amount determination to the purchaser, wherein the act of determining the rebate amount is in accordance with the disclosed terms.

10. The method of claim 1, wherein the predetermined transaction network and the issuer are the same.

11. A computer-implemented method for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining, by at least one computer processor, a rebate amount based upon one or more purchases made by a purchaser using cash or a credit card associated with a sponsor, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

creating, by at least one computer processor, in a computer database a stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount, wherein the stored value card purchase amount initially comprises the rebate amount;

receiving a request for a stored value card associated with the stored value account;

issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases from any merchant that is part of a set of merchants designated by the issuer or the sponsor of the card; and

activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

12. The method of claim 11, wherein the credit card is associated with the sponsor.

13. The method of claim 11, wherein the merchants for which the stored value account or card is usable includes the sponsor.

14. The method of claim 11, wherein the credit card is associated with a sponsor, and wherein the rebate amount is determined based on purchases from entities affiliated with the sponsor, wherein the purchases are made using cash or the credit card.

15. The method of claim 11, wherein the recipient may add funds to the stored value account.

16. The method of claim 11, wherein the rebate amount is determined based on all purchases made with cash or the credit card.

17. The method of claim 11, wherein the rebate amount is determined based only on purchases made with specific merchants.

18. The method of claim 11, further comprising:

disclosing terms of the rebate amount determination to the purchaser, wherein the act of determining the rebate amount is in accordance with the disclosed terms.

19. The method of claim 11, further comprising, wherein the rebate amount is based on a flat percentage of the one or more purchases.

20. A computer-implemented system for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the system comprising:

at least one processor for determining a rebate amount based upon one or more purchases made by a purchaser using cash or a credit card associated with a sponsor, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

at least one processor for creating in a computer database an independent stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount, wherein the stored value card purchase amount initially comprises the rebate amount;

at least one processor for receiving a request for a stored value card associated with the stored value account; and

at least one processor for issuing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor or which are part of a set of eligible merchants designated by the issuer or sponsor of the stored value card; and

at least one processor for activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

21. A computer-implemented method for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining, by at least one computer processor, a rebate amount based upon one or more purchases made by a purchaser, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

creating, by the at least one computer processor, in a computer database, a stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value account comprises information about;

a) a stored value account number, and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants or types of merchants designated by the issuer or a sponsor of the card and are affiliated with the transaction network;

providing a stored value card associated with the stored value account; and

activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

22. A computer-implemented method for an issuer to provide a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining, by at least one computer processor, a rebate amount based upon one or more purchases made by a purchaser using cash or a credit card associated with a sponsor, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

creating, by the at least one computer processor, in a computer database, a stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount, wherein the stored value card purchase amount initially comprises the rebate amount;

receiving a request for a stored value card associated with the stored value account;

providing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases from any merchant that is part of a set of merchants designated by the issuer or the sponsor of the card; and

activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

23. A computer-implemented system for an issuer to provide a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined transaction network and the issuer, the system comprising:

at least one processor for determining a rebate amount based upon one or more purchases made by a purchaser using cash or a credit card associated with a sponsor, wherein the rebate amount is a monetary amount comprising a percentage of a monetary value of the one or more purchases;

at least one processor for creating in a computer database an independent stored value card account, the stored value card account having a purchase value based on said rebate amount, wherein the independent stored value card account comprises information about;

a) a cardholder'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount, wherein the stored value card purchase amount initially comprises the rebate amount;

at least one processor for receiving a request for a stored value card associated with the stored value account; and

at least one processor for providing the stored value card, wherein the stored value card is marked with at least one of transaction network identification indicia associated with the transaction network, issuer identification indicia associated with the issuer, and sponsor identification indicia associated with the sponsor, and wherein the stored value card is usable for purchases only from merchants affiliated with the sponsor or which are part of a set of eligible merchants designated by the issuer or sponsor of the stored value card; and

at least one processor for activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.

24. A computer-implemented method for an issuer to create a stored value account as a rebate award, wherein the stored value account is affiliated with a predetermined transaction network and the issuer, the method comprising:

determining, by at least one computer processor, a rebate amount based upon one or more purchases made by a purchaser, wherein the rebate amount is a monetary amount comprising a based on a monetary value of the one or more purchases;

creating, by the at least one computer processor, in a computer database;

a stored value account, the stored value account having a purchase value based on said rebate amount, wherein the independent stored value account comprises information about;

a) a stored value account number, and

b) a stored value purchase amount;

wherein the stored value account is usable for purchases from merchants or types of merchants designated by the issuer or a sponsor of the card and are affiliated with the transaction network;

providing a stored value card associated with the stored value account; and

activating the stored value account or card upon;

(1) receipt of notification that the stored value card has been received by the purchaser or an intended recipient;

(2) first use of the stored value account or card by the purchaser or intended recipient;

or (3) establishing the name or verifying the identity of the purchaser or the intended recipient of the stored value card.