System, program product, and associated methods to autodraw for micro-credit attached to prepaid card
First Claim
1. A prepaid card processor associated with a plurality of prepaid accounts, the prepaid card processor comprising:
- one or more central processing units (CPU) configured to process a plurality of transactions associated with the plurality of prepaid card accounts;
one or more input/output units to communicate with one or more remote computers; and
non-transitory computer memory encoded with computer program operable by the one or more CPU so that during operations thereof, the prepaid card processor is configured to perform the following steps;
determining, responsive to a value of a proposed purchase associated with one or more of the plurality of prepaid card accounts being greater than a value associated with the one or more of the plurality of the prepaid card accounts, a number of separate predetermined loan increments to be drawn from a line of credit coupled to the one or more of the plurality of prepaid card accounts, the number of separate predetermined loan increments multiplied by a value of one of the plurality of separate predetermined loan increments plus the value associated with one or more of the plurality of prepaid card accounts exceeding the value of the proposed purchase by less than the value of one of the plurality of separate predetermined loan increments;
loading the one or more of the plurality of prepaid card accounts with draws from the line of credit in the number of separate predetermined loan increments to thereby define loaded predetermined increments responsive to receiving the draws from the line of credit; and
deducting the value of the proposed purchase from the value associated with the one or more of the plurality of the prepaid card accounts, the difference between the value of the proposed purchase and the value associated with the one or more of the plurality of prepaid card accounts being no greater than the value of one of the plurality of separate predetermined loan increments, each of the plurality of separate predetermined loan increments being equal in value.
2 Assignments
0 Petitions
Accused Products
Abstract
A prepaid card processor receives data for a line of credit for a prepaid card from a lending institution computer. The prepaid card processor makes available draws to the line of credit line on behalf of the lending institution computer in an authorization stream for a proposed purchase using the prepaid card as payment. When the line of credit is accessed, the processor loads the prepaid card with an additional value equal to one or more preselected loan increments so that the prepaid card then has a new amount totaling a previous amount plus the amount of value of the one or more preselected loan increments and so that the new amount exceeds or equals the value of a proposed purchase. Then the processor notifies the lending institution so that the line of credit balances on the lending institution computer and the prepaid card processor are kept in sync.
-
Citations
20 Claims
-
1. A prepaid card processor associated with a plurality of prepaid accounts, the prepaid card processor comprising:
-
one or more central processing units (CPU) configured to process a plurality of transactions associated with the plurality of prepaid card accounts; one or more input/output units to communicate with one or more remote computers; and non-transitory computer memory encoded with computer program operable by the one or more CPU so that during operations thereof, the prepaid card processor is configured to perform the following steps; determining, responsive to a value of a proposed purchase associated with one or more of the plurality of prepaid card accounts being greater than a value associated with the one or more of the plurality of the prepaid card accounts, a number of separate predetermined loan increments to be drawn from a line of credit coupled to the one or more of the plurality of prepaid card accounts, the number of separate predetermined loan increments multiplied by a value of one of the plurality of separate predetermined loan increments plus the value associated with one or more of the plurality of prepaid card accounts exceeding the value of the proposed purchase by less than the value of one of the plurality of separate predetermined loan increments; loading the one or more of the plurality of prepaid card accounts with draws from the line of credit in the number of separate predetermined loan increments to thereby define loaded predetermined increments responsive to receiving the draws from the line of credit; and deducting the value of the proposed purchase from the value associated with the one or more of the plurality of the prepaid card accounts, the difference between the value of the proposed purchase and the value associated with the one or more of the plurality of prepaid card accounts being no greater than the value of one of the plurality of separate predetermined loan increments, each of the plurality of separate predetermined loan increments being equal in value. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
-
8. Non-transitory computer memory encoded with computer program executable by a prepaid card processor, the computer program comprising instructions that, when executed by the prepaid card processor causes the prepaid card processor to perform the operations of:
-
determining, responsive to a value of a proposed purchase being greater that a value associated with one or more of a plurality of prepaid card accounts, a number of separate predetermined loan increments to be drawn from a line of credit coupled to the one or more of the plurality of prepaid card accounts, the number of separate predetermined loan increments multiplied by a value of one of the plurality of separate predetermined loan increments plus the value associated with one or more of the plurality of prepaid card accounts exceeding the value of the proposed purchase by less than the value of one of the plurality of separate predetermined loan increments; loading the one or more of the plurality of the prepaid card accounts with draws from the line of credit in the number of separate predetermined loan increments to thereby define loaded predetermined increments responsive to receiving the draws from the line of credit; and deducting the value of the proposed purchase from the value associated with the one or more of the plurality of the prepaid card accounts, the difference between the value of the proposed purchase and the value associated with the one or more of the plurality of prepaid card accounts being no greater than the value of one of the plurality of separate predetermined loan increments, each of the plurality of separate predetermined loan increments being equal in value. - View Dependent Claims (9, 10, 11, 12, 13, 14)
-
-
15. A computer-implemented method to allow draws from a line of credit in one or more of a plurality of separate predetermined loan increments, the computer-implemented method comprising:
-
determining, by a prepaid card processor configured to process a plurality of transactions associated with a plurality of prepaid card accounts, a number of separate predetermined loan increments to be drawn from a line of credit coupled to one or more of the plurality of prepaid card accounts, the number of separate predetermined loan increments multiplied by a value of one of the plurality of separate predetermined loan increments plus a value associated with one or more of the plurality of prepaid card accounts exceeding a value of a proposed purchase by less than the value of one of the plurality of separate predetermined loan increments, the determination being responsive to the value of the proposed purchase being greater than the value associated with the one or more of the plurality of the prepaid card accounts; loading, by the prepaid card processor, the one or more of the plurality of the prepaid card accounts with draws from the line of credit in the number of separate predetermined loan increments to thereby define loaded predetermined increments responsive to receiving the draws from the line of credit; and deducting, by the prepaid card processor, the value of the proposed purchase from the value associated with the one or more of the plurality of the prepaid card accounts, the difference between the value of the proposed purchase and the value associated with the one or more of the plurality of prepaid card accounts being no greater than the value of one of the plurality of separate predetermined loan increments, each of the plurality of separate predetermined loan increments being equal in value. - View Dependent Claims (16, 17, 18, 19, 20)
-
Specification