Stored value card provided with merchandise as rebate

• US 8,630,898 B1
• Filed: 02/22/2005
• Issued: 01/14/2014
• Est. Priority Date: 02/22/2005
• Status: Active Grant

• 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: Knackstedt, Lee, Rau, Scott
• Primary Examiner(s): Nigh, James D
• Application Number:
  US11/061,570
• Time in Patent Office: 3,248 Days
• Field of Search: 705/1, 705/14, 705/50, 705 64- 65, 705/14.17, 705/14.34
• US Class Current: 705/14.34
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0219 based on funds or budget
• CPC Class Codes: G06Q 30/0225 Avoiding frauds

Abstract

A system and method for creating a stored value account based on a purchase transaction are provided. An indicia of an identifier to be distributed to a customer at a point of sale as a result of a purchase is passed. A request to activate a stored value account associated with the identifier is received from the customer, wherein the request comprises the identifier. The stored value account is activated by a computer processor. The stored value account comprises information about a rebate value that is associated with the purchase and usable by the customer.

Claims

1. A computer implemented method for creating a stored value account based on a purchase transaction, the computer implemented method comprising:

distributing an indicia of a rebate account identifier to a merchant that is distributed to a customer at a point of sale in conjunction with a purchase of at least one product or service;

receiving, by a computer processor, a confirmation from the merchant of the purchase of the at least one product or service associated with the indicia wherein the at least one product or service is purchased with the indicia;

receiving, from the customer, a request, following the customer obtaining the indicia in conjunction with the purchase, comprising the rebate account identifier, to activate a stored value account associated with the rebate account identifier; and

activating the stored value account, by a computer processor, the stored value account comprising information about a rebate value based upon the purchase of the at least one product or service and the rebate value is a separate value from a value of the purchase;

loading the stored value account with funds, comprising the rebate value, for conducting transactions over a transaction network;

providing the customer access to the funds; and

receiving status updates from the merchant relating to subsequent actions by the customer regarding the at least one product or service, the subsequent actions comprising requesting an exchange or refund of the at least one product or service.

2. The computer implemented method of claim 1, wherein the stored value account comprises information about the customer'"'"'s name and an account number.

3. The computer implemented method of claim 1, wherein the activating occurs at the point of sale.

4. The computer implemented method of claim 1, further comprising:

receiving personal information associated with the customer, wherein the act of activating occurs based on receipt of the personal information.

5. The computer implemented method of claim 1, further comprising:

receiving personal information associated with the customer, wherein the activating occurs based on receipt of the personal information and a verification.

6. The computer implemented method of claim 1, wherein the purchase of at least one product or service, further comprises:

receiving personal information associated with the customer; and

registering the customer with the at least one product or service based on receipt of the personal information.

7. The computer implemented method of claim 6, wherein the activating and the registering both occur at the point of sale.

8. The computer implemented method of claim 6, wherein the activating is based on the registering.

9. The computer implemented method of claim 1, wherein the rebate account identifier comprises an account number of the stored value account.

10. The computer implemented method of claim 1, wherein the stored value account is usable for the transactions from at least one of:

one or more specific merchants;

one or more specific manufacturers; and

one or more specific service providers.

11. The computer implemented method of claim 1, wherein the indicia is usable to access the stored value account for conducting the transactions.

12. The computer implemented method of claim 1, wherein the indicia comprises information about the rebate value and instructions about how to activate the stored value account.

13. The computer implemented method of claim 1, wherein the indicia further comprises a graphic, wherein the activating is further based on receiving information about the graphic.

14. The computer implemented method of claim 1, wherein the rebate value comprises at least one of a plurality of possible rebate values based on at least one of a circumstance of the purchase of at least one product or service, a characteristic of the customer, and a circumstance of the activating.

15. The computer implemented method of claim 14, wherein the indicia comprises information describing the plurality of possible rebate values and the at least one of a circumstance of the purchase of at least one product or service, a characteristic of the customer, and a circumstance of the activating.

16. The computer implemented method of claim 1, wherein the indicia is coupled with the at least one purchased product or service when the indicia is passed to the customer.

17. The computer implemented method of claim 1, wherein the request is received over the Internet at a website.

18. The computer implemented method of claim 1, further comprising:

receiving from the customer a request to add funds to the account.

19. The computer implemented method of claim 1, further comprising:

consolidating the stored value account with at least one other account.

20. The computer implemented method of claim 19, wherein the at least one other account comprises at least one of a DDA account, a credit card account, a prepaid account, a debit account, and a checking account.

21. The computer implemented method of claim 1, further comprising:

receiving from the customer a request to transfer ownership of the account to another entity.

22. The computer implemented method of claim 1, wherein the customer receives a transaction identifier from a merchant at the point of sale, wherein the transaction identifier is received separate from the indicia, further comprising:

receiving the transaction identifier from the customer, wherein the activating is further based on receiving the transaction identifier.

23. The computer implemented method of claim 1, wherein the activating is further based on receipt of the confirmation.

24. The computer implemented method of claim 1, wherein the rebate value is determined based on a purchase amount associated with the purchase of at least one product or service.

25. The computer implemented of claim 1, wherein the stored value account was not previously associated with the customer.

26. A system for creating a stored value account based on a purchase transaction, comprising:

a processor; and

a memory comprising computer-readable instructions which when executed by the processor cause the processor to perform the steps comprising;

distributing an indicia of a rebate account identifier to a merchant that is distributed to a customer at a point of sale in conjunction with a purchase of at least one product or service;

receiving, by a computer processor, a confirmation from the merchant of the purchase of the at least one product or service associated with the indicia wherein the at least one product or service is purchased with the indicia;

receiving, from the customer, a request, following the customer obtaining the indicia in conjunction with the purchase, comprising the rebate account identifier, to activate a stored value account associated with the rebate account identifier; and

activating the stored value account by a computer processor, the stored value account comprising information about a rebate value based upon the purchase of the at least one product or service and the rebate value is a separate value from a value of the purchase;

loading the stored value account with funds, comprising the rebate value, for conducting transactions over a transaction network; and

providing the customer access to the funds; and

receiving status updates from the merchant relating to subsequent actions by the customer regarding the at least one product or service associated with the indicia, the subsequent actions comprising requesting an exchange or refund of the at least one product or service.

27. A non-transitory computer-readable medium encoded with computer program code to create a stored value card account as a rebate based on a purchase, the program code effective when executed to cause a data processing system to perform the following:

distributing an indicia of a rebate account identifier to a merchant that is further distributed to a customer at a point of sale in conjunction with a purchase of at least one product or service;

receiving a confirmation of the purchase from the merchant of the at least one product or service associated with the indicia wherein the at least one product or service is purchased with the indicia;

receiving, from the customer, following the purchase, a request comprising the rebate account identifier to activate a stored value account associated with the rebate account identifier; and

activating the stored value account by a computer processor, the stored value account comprising information about;

(a) the customer'"'"'s name;

(b) a rebate value based on the purchase of the at least one product or service wherein the rebate value is a separate value from a value of the purchase; and

(c) an account number; and

loading funds comprising the rebate value into the stored value account and the funds are usable for conducting transactions over a transaction network;

providing the customer access to the funds;

receiving status updates from the merchant relating to subsequent actions by the customer regarding the at least one product or service associated with the indicia, the subsequent actions comprising requesting an exchange or refund of the at least one product or service.

28. A computer implemented method for creating a stored value account based on a purchase transaction, the computer implemented method comprising:

distributing an account access device to a merchant, the account access device comprising a rebate account identifier and instructions about activating a stored value account associated with the rebate account identifier, the account access device being further distributed to a customer at a point of sale of in conjunction with a purchase of at least one product or service at the merchant;

receiving, by a computer processor, a confirmation from the merchant of the purchase of the at least one product or service associated with the indicia wherein the at least one product or service is purchased with the indicia;

receiving from the customer a request, following the purchase, comprising the rebate account identifier, to activate the stored value account;

prompting the customer for personal information associated with the customer, the rebate account identifier, and purchase information;

receiving from the customer personal information associated with the customer, the rebate account identifier, and the purchase information;

registering the product or service based on the receipt of the personal information, the rebate account identifier, and the purchase information; and

activating the stored value account by a computer processor based on the receipt of the personal information, the rebate account identifier, and the purchase information, and the stored value account stores a rebate value based on the purchase of at least one product or service and the rebate value is a separate value from a value of the purchase, that is usable for one or more purchases on a transaction network, and the access device is usable to access the stored value account, and further the stored value account comprises information about the customer, a stored value account number, and the rebate value; and

loading the stored value account with funds comprising the rebate value that are usable for conducting transactions over a transaction network;

providing the customer access to the funds; and

receiving status updates from the merchant relating to subsequent actions by the customer regarding the at least one product or service associated with the indicia, the subsequent actions comprising requesting an exchange or refund of the at least one product or service.

29. The computer implemented method of claim 28, wherein the rebate value may comprise at least one of a plurality of possible rebate values based on at least one of a circumstance of the purchase of the at least one product or service, a characteristic of the customer, and a circumstance of the activating action, and wherein the indicia comprises information describing the plurality of possible rebate values and the at least one of a circumstance of the purchase of the at least one product or service, a characteristic of the customer, and a circumstance of the activating action.

30. The computer implemented of claim 28, wherein the stored value account was not previously associated with the customer.