System and method for processing gift cards

• US 8,285,643 B2
• Filed: 12/14/2010
• Issued: 10/09/2012
• Est. Priority Date: 06/12/2008
• Status: Active Grant

• Current Assignee: GiftYa, LLC
• Original Assignee: Monncello Enterprises LLC
• Inventors: Isaacson, Thomas M., Durham, Ryan Connell
• Primary Examiner(s): Hoar, Colleen
• Assistant Examiner(s): Henry, Rodney
• Application Number:
  US12/967,253
• Publication Number:
  US 20110106698A1
• Time in Patent Office: 665 Days
• Field of Search: 705/14
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/384 using social networks
• 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 30/06 Buying, selling or leasing transactions

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for enabling gift card recipients to redeem gift card amounts using existing accounts such as a credit/debit card. A system practicing the method identifies a giver and recipient of a gift card amount and associated accounts. A policy is established which governs how the gift card is redeemed, such as a specific merchant or item. When the recipient makes a purchase using an existing credit/debit card according to the policy, the gift card amount is applied to the transaction. No special codes, separate physical gift cards, or printable coupons are necessary for redemption. The recipient makes purchases using their normal purchasing credit/debit card via a qualifying purchase according to the policy, and the gift card is applied automatically. The recipient credit/debit card becomes a combination of an open-looped card and a closed-loop card. Thus, no money is wasted or lost.

Claims

1. A method comprising:

receiving, via a processor and at a first time, an identification of a giver, a gift, an amount of money to pay for the gift, and a recipient of the gift, wherein the giver is associated with a giver payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and the recipient is associated with a recipient payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and wherein the giver payment account and the recipient payment account are independent of each other and have no control over each other;

associating, via a processor, a policy with the gift, wherein the policy is at least in part giver defined;

initiating, at the first time, a transfer of at least part of the amount of money to pay for the gift from the giver payment account to a holding account that is separate from the recipient payment account;

monitoring, via a processor and according to the policy, purchases of the recipient at a second time, which is later than the first time, using the recipient payment account to yield purchasing information;

based on the purchasing information, determining, via a processor, whether the recipient has made a qualifying purchase using the recipient payment account according to the policy; and

if the qualifying purchase has occurred, applying, via a processor, at least part of the amount of money to pay for the gift from the holding account to the recipient payment account.

2. The method of claim 1, wherein associating the policy with the gift further comprises receiving the amount of money to pay for the gift from the giver payment account.

3. The method of claim 1, wherein associating the policy with the gift further comprises receiving an identification of a merchant at which the qualifying purchase will trigger applying the at least part of the amount of money to pay for the gift.

4. The method of claim 1, wherein the policy comprises at least one of:

a class of goods or services, an amount of money, a merchant, a ceiling amount of money, a time frame for use of the gift, one or more recipient payment accounts that when used can trigger the transfer of at least part of the amount of money from the holding account to the one or more recipient payment accounts, and a predetermined period of time in which if all the amount of money to pay for the gift is not used according to the policy, a remainder amount of money is transferred from the holding account to the recipient payment account.

5. The method of claim 1, further comprising determining, after applying the amount of money as payment for the amount of money to pay for at least part of the gift, whether remaining funds exist according to the policy.

6. The method of claim 5, wherein if remaining funds exist, the method further comprises transferring the remaining funds from the holding account to the recipient payment account according to the policy.

7. The method of claim 1, wherein the qualifying purchase is made independent of any communication to the recipient.

8. The method of claim 1, wherein, if applying the at least part of the amount of money to pay for the gift from the holding account does not deplete the amount of money to pay for the gift and yields a remaining gift amount, then after a predetermined period of time in which the recipient does not use the recipient payment account for a second purchase according to the policy, then performing one of transferring the remaining gift amount from the holding account to the recipient payment account and canceling the transfer of the remaining gift amount from the holding account to the recipient payment account.

9. The method of claim 1, wherein if applying at least part of the amount of money to pay for the gift yields a remaining amount of money on the gift, the method further comprises, upon the recipient using the recipient payment account to make an additional purchase under the policy, applying the remaining amount of money to the additional purchase.

10. The method of claim 1, wherein the policy governs how payment of at least part of the amount of money to pay for the gift is applied, but does not prevent purchases using the recipient payment account.

11. The method of claim 1, further comprising:

receiving from the giver a request to establish a subscription having at least one subscription requirement as part of the policy associated with the gift; and

establishing the subscription to automatically apply a subscription amount of money to at least one purchase of the recipient based on the at least one subscription requirement in the policy.

12. The method of claim 1, further comprising notifying the recipient of at least one of the giver, the amount of money to pay for the gift, an existence of the gift, and a condition of the policy that will trigger the applying of at least part a transfer of the amount of money.

13. The method of claim 1, further comprising notifying the recipient of at least one of the gift, the amount of money to pay for the gift, the recipient payment account that is to be used to redeem the gift, and a merchant at which a purchase using the recipient payment account will redeem the gift.

14. The method of claim 1, further comprising, after the qualifying purchase, sending a notification to the giver that the at least part of the amount of money to pay the gift was applied for the qualifying purchase.

15. The method of claim 14, wherein the notification comprises at least one of a description of an object of the qualifying purchase, a purchase time, a purchase date, and a merchant.

16. The method of claim 1, wherein the policy manages applying the at least part of the amount of money for the gift according to whether a respective account of the giver payment account and the recipient payment account is a credit payment account or a debit payment account.

17. The method of claim 1, further comprising:

identifying a plurality of recipient payment accounts; and

upon the recipient using one of the plurality of recipient payment accounts to make the qualifying purchase, applying the amount of money to pay for the gift to the qualifying purchase in the manner associated with the one of the plurality of recipient payment accounts.

18. The method of claim 1, wherein applying the gift comprises transferring money from the giver payment account to the recipient payment account.

19. A non-transitory computer readable storage medium storing instructions for controlling a device to manage a transaction involving a gift, the instructions comprising:

receiving, an identification of a giver, a gift, an amount of money to pay for the gift, and a recipient of the gift at a first time, wherein the giver is associated with a giver payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and the recipient is associated with a recipient payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and wherein the giver payment account and the recipient payment account are independent of each other and have no control over each other;

associating a policy with the gift, wherein the policy is at least in part giver defined;

initiating, at the first time, a transfer of at least part of the amount of money to pay for the gift from the giver payment account to a holding account that is separate from the recipient payment account;

monitoring, via a processor and according to the policy, purchases of the recipient at a second time, which is later than the first time, using the recipient payment account to yield purchasing information;

based on the purchasing information, determining whether the recipient has made a qualifying purchase using the recipient payment account according to the policy; and

if the qualifying purchase has occurred, applying at least part of the amount of money to pay for the gift from the holding account to the recipient payment account.

20. A system for managing a transaction involving a gift, the system comprising:

a processor; and

a non-transitory computer readable medium storing instructions which, when executed by the processor, perform a method comprising;

receiving, at a first time, an identification of a giver, a gift, an amount of money to pay for the gift, and a recipient of the gift, wherein the giver is associated with a giver payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and the recipient is associated with a recipient payment account, comprising a credit payment account or a debit payment account existing prior to the first time, and wherein the giver payment account and the recipient payment account are independent of each other and have no control over each other;

associating a policy with the gift, wherein the policy is at least in part giver defined;

initiating, at the first time, a transfer of at least part of the amount of money to pay for the gift from the giver payment account to a holding account that is separate from the recipient payment account;

monitoring, according to the policy, purchases of the recipient at a second time, which is later than the first time, using the recipient payment account to yield purchasing information;

determining whether, based on the purchasing information, the recipient has made a qualifying purchase using the recipient payment account according to the policy; and

if the qualifying purchase has occurred, applying at least part of the amount of money to pay for the gift from the holding account to the recipient payment account.