Systems, methods and devices for selling transaction instruments
First Claim
1. A method for adjusting a balance of a transaction account associated with an open transaction instrument purchased in a retail environment, comprising:
- receiving, by a computer for adjusting a balance of a transaction account, a request to debit a purchase amount from the balance of the transaction account, wherein an account code is associated with the transaction account, wherein the tracking code is associated with at least one of;
the open transaction instrument, the package, and another item within the package, wherein the open transaction instrument is configured to be offered by a merchant to a consumer and the open transaction instrument is configured to be directly accessible by a consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument is associated with the transaction account, and wherein the open transaction instrument has an account code associated with the open transaction instrument, wherein the account code is one of a plurality of account codes, wherein one of the plurality of account codes respectively correspond to one of a plurality of tracking codes, wherein one of the plurality of account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein the package contains the open transaction instrument;
verifying, by the computer, that the transaction account associated with the open transaction instrument is a valid transaction account;
verifying, by the computer, that the balance of the transaction account associated with the open transaction instrument is at least equal to the purchase amount; and
reducing, by the computer, the balance by the purchase amount.
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0 Petitions
Accused Products
Abstract
The present invention generally relates to a system and method for distributing an open transaction instrument. The system includes the steps of: accessibly offering for sale, in a retail environment, the open transaction instrument; selling a selected open transaction instrument; and enabling the use of the open transaction instrument. The transaction instrument may be, for example, an open pre-paid card. Furthermore, accessibly offering the open pre-paid card for sale, in one exemplary embodiment, is performed by hanging the pre-paid card on a rack. The distribution of the open transaction instrument may also comprise the step of sending a message, in substantially real time, causing the pre-paid open transaction instrument to be funded but not activated. Also, in accordance with further exemplary embodiments of the present invention, an issuer system is suitably configured to leverage existing infrastructure for inventory and related processes.
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Citations
20 Claims
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1. A method for adjusting a balance of a transaction account associated with an open transaction instrument purchased in a retail environment, comprising:
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receiving, by a computer for adjusting a balance of a transaction account, a request to debit a purchase amount from the balance of the transaction account, wherein an account code is associated with the transaction account, wherein the tracking code is associated with at least one of;
the open transaction instrument, the package, and another item within the package, wherein the open transaction instrument is configured to be offered by a merchant to a consumer and the open transaction instrument is configured to be directly accessible by a consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument is associated with the transaction account, and wherein the open transaction instrument has an account code associated with the open transaction instrument, wherein the account code is one of a plurality of account codes, wherein one of the plurality of account codes respectively correspond to one of a plurality of tracking codes, wherein one of the plurality of account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein the package contains the open transaction instrument;verifying, by the computer, that the transaction account associated with the open transaction instrument is a valid transaction account; verifying, by the computer, that the balance of the transaction account associated with the open transaction instrument is at least equal to the purchase amount; and reducing, by the computer, the balance by the purchase amount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A system comprising:
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a network interface; a processor configured to execute a computer program; a memory; and the computer program configured to; receive a request to debit a purchase amount from the balance of the transaction account, wherein an account code is associated with the transaction account, wherein the tracking code is associated with at least one of;
the open transaction instrument, the package, and another item within the package, wherein the open transaction instrument is configured to be offered by a merchant to a consumer and the open transaction instrument is configured to be directly accessible by a consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument is associated with the transaction account, and wherein the open transaction instrument has an account code associated with the open transaction instrument, wherein the account code is one of a plurality of account codes, wherein one of the plurality of account codes respectively correspond to one of a plurality of tracking codes, wherein one of the plurality of account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein the package contains the open transaction instrument;verify that the transaction account associated with the open transaction instrument is a valid transaction account; verify that the balance of the transaction account associated with the open transaction instrument is at least equal to the purchase amount; and reduce the balance by the purchase amount.
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20. A tangible, non-transitory computer-readable medium having computer-executable instructions stored thereon that, if executed by a computer, cause the computer to perform a method comprising:
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receiving a request to debit a purchase amount from the balance of the transaction account, wherein an account code is associated with the transaction account, wherein the tracking code is associated with at least one of;
the open transaction instrument, the package, and another item within the package, wherein the open transaction instrument is configured to be offered by a merchant to a consumer and the open transaction instrument is configured to be directly accessible by a consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument is associated with the transaction account, and wherein the open transaction instrument has an account code associated with the open transaction instrument, wherein the account code is one of a plurality of account codes, wherein one of the plurality of account codes respectively correspond to one of a plurality of tracking codes, wherein one of the plurality of account codes is respectively associated with a transaction account and the transaction account is associated with the open transaction instrument, wherein the package contains the open transaction instrument;verifying that the transaction account associated with the open transaction instrument is a valid transaction account; verifying that the balance of the transaction account associated with the open transaction instrument is at least equal to the purchase amount; and reducing the balance by the purchase amount.
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Specification