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

• US 7,818,253 B2
• Filed: 07/20/2007
• Issued: 10/19/2010
• 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: Deporte, Rebecca, Joines, Penny, Phillips, Gregory Joseph, Norwine, Jeffrey
• Primary Examiner(s): Diaz, Susanna M
• Application Number:
  US11/780,730
• Publication Number:
  US 20080021825A1
• Time in Patent Office: 1,187 Days
• Field of Search: 705/35, 705/41, 705/44
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 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 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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 method for processing a stored value card over a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the card is provided to the recipient, the card is marked with recipient'"'"'s name (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account, wherein the recipient is an individual;

providing notice to the recipient to activate the stored value card using the computer network;

prompting the recipient to provide predetermined card information, verification information and additional data over the computer network;

processing the predetermined card information, verification information and additional data using at least one computer processor and generating processing results;

notifying a purchaser of the stored value card of the processing results wherein the purchaser is different than the recipient; and

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.

2. The method of claim 1 wherein the computer network is the Internet.

3. The method of claim 2 further comprising determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

4. A method of activating a stored value card on a computer network comprising:

receiving notification that a recipient has received the stored value card, wherein;

(1) before the stored value card is provided to the recipient, the stored value card is marked with the recipient'"'"'s name and with an identifier associated a predetermined transaction network, (2) the card is capable of being used for payment wherever cards associated the predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account;

providing notice to the recipient to activate the stored value card on the computer network;

prompting the recipient to provide predetermined card information, verification information and additional data and communicating the information and data to a computing system;

processing the predetermined card information, verification information and additional data using at least one computer processor and generating processing results, wherein the processing results are generated by the computer processor;

notifying a purchaser of the stored value card of the processing results wherein the purchaser is different than the recipient; and

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser.

5. The method of claim 4 further comprising determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

6. The method of claim 4 wherein the computer network is the Internet.

7. A method of activating a stored value card by a cardholder through a computing system comprising:

receiving notification that a cardholder has received the stored value card, wherein;

(1) before the stored value card is provided to the cardholder, the stored value card is marked with the cardholder'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account;

providing notice to the cardholder to activate the stored value card over a computer network;

prompting the cardholder to provide predetermined card information, verification information and additional data and communicating the information and data;

processing the predetermined card information, verification information and additional data using the computing system, wherein the processing results are generated by the computer system;

verifying the predetermined card information, verification information and additional data against security rules;

notifying a purchaser of the stored value card of the results wherein the purchaser is different from the cardholder; and

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the cardholder.

8. The method of claim 7 further comprising determining with a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

9. The method of claim 7 wherein the computer network is the Internet.

10. A method of activating a purchaser account through a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the stored value card is provided to the recipient, stored value card is marked with the recipient'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account;

providing the recipient an ability to activate the stored value card over the computer network;

prompting the recipient to provide predetermined card information, verification information and additional data to the computer network;

processing the predetermined card information, verification information and additional data and generating processing results;

notifying a purchaser of the stored value card of the results wherein the purchaser is different from the recipient; and

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.

11. The method of claim 10 further comprising determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

12. A method for processing a stored value card over a computer network comprising:

receiving notification that a recipient has received the stored value card, wherein;

(1) before the stored value card is provided to the recipient the stored value card is marked with the recipent'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account;

providing notice to the recipient to activate the stored value card over the computer network;

prompting the recipient to provide predetermined card information, verification information and additional data and communicating the predetermined card information, verification information and additional data to a computing system;

processing the predetermined card information, verification information and additional data;

using at least one computer processor and generating processing results;

determining with at least one computer processor whether a purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card;

notifying the purchaser of the results over the computer network wherein the purchaser is different from the recipient; and

processing a load request subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.