System and method for distribution of payment media

• US 7,991,693 B2
• Filed: 05/05/2008
• Issued: 08/02/2011
• Est. Priority Date: 05/05/2008
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Shah, Apur, Scipioni, German
• Primary Examiner(s): Cheung; Mary
• Assistant Examiner(s): Holly; John H
• Application Number:
  US12/115,259
• Publication Number:
  US 20090276356A1
• Time in Patent Office: 1,184 Days
• Field of Search: 705/1, 705/41, 705/44, 705/17, 705/16, 705/39, 705/26, 705/67, 705/40, 705/79, 705/80, 235/382, 235/381, 235/380, 455/506
• 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 20/108 Remote banking, e.g. home banking
• 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 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/351 Virtual cards
• 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

Abstract

Systems and methods of the present disclosure provide a method for distributing payment media to a customer. In various embodiments, the systems and methods include receiving a request from a user via a network, generating a virtual payment number related to the user, associating the virtual payment number to an RFID chip embedded in a sticker, and distributing the sticker to the user via, for example, the mail.

Claims

1. A method for distributing payment media to a customer, the method comprising:

at a server of a transaction service provider, receiving a request for generation, activation, and distribution of payment media from a user via a network;

in a processor coupled to the server, generating a virtual payment number and associating the virtual payment number to a user account related to the user and maintained at the transaction service provider;

in the processor, setting one or more user defined payment parameters for the virtual payment number based on user information passed with the request for payment media from the user, the payment parameters including one or more of permitted number of uses, spending limits, and authorized users of the payment media, and authorized merchants at which the payment media can be used;

in the processor, associating the virtual payment number to a radio frequency identification (RFID) chip embedded in a sticker as the requested payment media;

activating the RFID chip; and

,

distributing the sticker having the embedded RFID chip to the user,

wherein the user defined payment can be changed by the user at any time before or after activation of the RFID chip.

2. The method of claim 1, further comprising establishing the user account with the user for depositing funds.

3. The method of claim 1, wherein the user account is funded from at least one of a banking account and a credit account, and wherein the virtual payment number is associated with funds from at least one of the banking account and the credit account.

4. The method of claim 1, wherein the sticker is distributed to the user via mail.

5. The method of claim 1, wherein the RFID chip stores and transmits information related to the user.

6. The method of claim 1, wherein the sticker is adapted for affixing to a physical media including a plastic card or a cell phone.

7. The method of claim 1, wherein the sticker is used to facilitate financial transactions between the user and at least one merchant.

8. The method of claim 1, further comprising maintaining a plurality of accounts including a user account associated with the user and a merchant account associated with a merchant, wherein the user account includes financial information related to the user, and wherein the merchant account includes financial information related to the merchant.

9. A system for distributing payment media to a customer, the system comprising:

at a server of a transaction service provider, means for receiving a request for generation, activation, and distribution of payment media from a user via a network;

in a processor coupled to the server, means for generating a virtual payment number and associating the virtual payment number to a user account related to the user and maintained at the transaction service provider;

in the processor, means for setting one or more user defined payment parameters for the virtual payment number based on user information passed with the request for payment media from the user, the payment parameters including one or more of permitted number of uses, spending limits, and authorized users of the payment media, and authorized merchants at which the payment media can be used;

in the processor, means for associating the virtual payment number to a radio frequency identification (RFID) chip embedded in a sticker as the requested payment media;

means for activating the RFID chip; and

,

means for distributing the sticker having the embedded RFID chip to the user,

wherein the user defined payment parameters can be changed by the user at any time before or after activation of the RFID chip.

10. The system of claim 9, further comprising means for establishing the user account with the user for depositing funds.

11. The system of claim 9, wherein the user account is funded from at least one of a banking account and a credit account, and wherein the virtual payment number is associated with funds from at least one of the banking account and the credit account.

12. The system of claim 9, wherein the sticker is distributed to the user via mail.

13. The system of claim 9, wherein the RFID chip stores and transmits information related to the user.

14. The system of claim 9, wherein the sticker is adapted for affixing to a physical media including a plastic card or a cell phone.

15. The system of claim 9, wherein the sticker is used to facilitate financial transactions between the user and at least one merchant.

16. The system of claim 9, further comprising means for maintaining a plurality of accounts including a user account associated with the user and a merchant account associated with a merchant, wherein the user account includes financial information related to the user, and wherein the merchant account includes financial information related to the merchant.

17. A system for distributing payment media to a customer, the system comprising:

a first component of a transaction service provider adapted to communicate with the customer via a network; and

,

a second component of the transaction service provider adapted to receive a request for generation, activation, and distribution of payment media from the customer via the network, generate a payment number and associate the payment number to a customer account related to the customer and maintained at the transaction service provider, set customer defined payment parameters for the payment number based on customer information passed with the request for payment media from the customer, the payment parameters including one or more of permitted number of uses, spending limits, and authorized users of the payment media, and authorized merchants at which the payment media can be used, associate the payment number to a radio frequency identification (RFID) chip, couple the RFID chip to a sticker as the requested payment media, activate the RFID chip, and distribute the sticker having the coupled RFID chip to the customer,

wherein the user defined payment parameters can be changed by the user at any time before or after activation of the RFID chip.

18. The system of claim 17, wherein the second component establishes the customer account with the customer for depositing funds.

19. The system of claim 17, wherein the customer account is funded from at least one of a banking account and a credit account, and wherein the payment number is associated with funds from at least one of the banking account and the credit account.

20. The system of claim 17, wherein the sticker is distributed to the customer via mail.

21. The system of claim 17, wherein the RFID chip stores and transmits information related to the customer.

22. The system of claim 17, wherein the sticker is adapted for affixing to a physical media including a plastic card or a cell phone.