System and method for virtual piggybank

• US 8,812,395 B2
• Filed: 09/28/2011
• Issued: 08/19/2014
• Est. Priority Date: 09/03/2009
• Status: Active Grant

• Current Assignee: REGO Payment Architectures, Inc.
• Original Assignee: Virtual Piggy, Inc.
• Inventors: Webber, Jo, Ittycheria, Pradeep
• Primary Examiner(s): Vezeris, James A
• Application Number:
  US13/247,572
• Publication Number:
  US 20120259740A1
• Time in Patent Office: 1,056 Days
• Field of Search: 705/39
• US Class Current: 705/39
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]

Abstract

A method of providing control preferences for a prospective Internet user, the method comprising the steps of establishing a first account, the settings of the first account being stored in a database; establishing a second account, the settings of the second account being stored in the database; linking the first and second accounts such that control settings of the second account are determined through the first account; and making a purchase from the second account consistent with the control settings of the second account.

Claims

1. A method of providing control preferences for a prospective Internet user, the method comprising:

establishing, at a client computer, a first account, the settings of the first account being stored in a database in a server computer, the server computer being different from the client computer;

establishing a second account by a first user associated with the first account, the settings of the second account being stored in the database;

linking the first and second accounts such that control settings of the second account are determined through the first account;

establishing a profile for a second user associated with the second account for making a purchase from a service requester, the profile including the control settings and a username and a password established by the first user associated with the first account;

establishing, at a merchant computer different from the client and server computers, a merchant account with the service requester to transact payment from the first account;

making a purchase request from the second account to the merchant account, the second user associated with the second account entering the username and password;

sending the profile for the second user associated with the second account and the purchase request to the first account from the merchant account;

validating the authenticity of the profile for the second user associated with the second account by the first account;

authorizing, by the first user of the first account, the purchase request for the merchant account to execute; and

transacting the purchase request, selected by the second user of the second account, by transferring payment from the first account to the merchant account established with the service requester,

wherein the making the purchase request from the second account further includes notifying the first user associated with the first account,

wherein the second user of the second account is identified solely by the username and password, and

wherein shipping information for the purchase request is provided to the merchant account from the first account according to settings made by the first user, such that the second user cannot change the shipping information.

2. The method of providing control preferences for a prospective Internet user according to claim 1, wherein the control settings include a list of approved service requesters, approved by the first user, where purchases can be made from the second account.

3. The method of providing control preferences for a prospective Internet user according to claim 1, wherein the notifying the first user associated with the first account is performed by e-mail or short message service.

4. The method of providing control preferences for a prospective Internet user according to claim 1, wherein at least one of the first and second accounts is linked to an Internet payment account.

5. The method of providing control preferences for a prospective Internet user according to claim 1, wherein account information for the first and second accounts is stored in a secure database.

6. The method of providing control preferences for a prospective Internet user according to claim 1, further comprising the first user'"'"'s authorizing, from a list of identified contributors, one or more third-party contributors to access the second account if authorized by the first user associated with the first account.

7. The method of providing control preferences for a prospective Internet user according to claim 6, wherein the control settings of the second account designate an amount that each of the one or more third-party contributors may apply to the second account.

8. The method of providing control preferences for a prospective Internet user according to claim 6, wherein the control settings of the second account designate the frequency that each of the one or more third-party contributors may apply an amount to the second account.

20. The method of providing control preferences for a prospective Internet user according to claim 1, wherein at least one of the first user associated with the first account and the second user associated with the second account uses a mobile device.

28. The method according to claim 1, wherein the authorizing the purchase request is performed in response to the notification being received.

9. A system providing control preferences for a prospective Internet user, comprising:

a plurality of server computers;

a database hosted on at least one of the plurality of server computers, the database configured to store information for a first account, a second account, and a merchant account;

a service requester associated with the merchant account;

wherein control settings of the second account are established by a first user, at a first user computer different from the plurality of server computers, through the first account such that a purchase request by a second user associated with the second account is made,

wherein a profile that includes control settings is established, by the first user at the first user computer, for the second user associated with the second account for making a purchase from the service requester,

wherein the first account, at the at least one of the plurality of server computers, receives the profile for the second user associated with the second account and the purchase request from the merchant account, validates the authenticity of the profile, and authorizes execution of the purchase request,

wherein the at least one of the plurality of server computers is further configured to initiate the purchase from the second account consistent with the control settings established by the first user of the first account at the first user computer,

wherein the at least one of the plurality of server computers is configured to transact a payment between the first account and the merchant account associated with the service requester,

wherein the at least one of the plurality of server computers is further configured to notify the first user associated with the first account when the purchase from the second account is being made,

wherein the second user of the second account is identified solely by a username and password, and

wherein shipping information for the purchase request is provided to the merchant account from the first account according to settings made by the first user, such that the second user cannot change the shipping information.

10. The system providing control preferences for a prospective Internet user according to claim 9, wherein the control settings include a list of approved service requesters where purchases can be made by the second user from the second account if authorized by the first user associated with the first account.

11. The system providing control preferences for a prospective Internet user according to claim 9, wherein the first user associated with the first account is notified by e-mail or short message service.

12. The system providing control preferences for a prospective Internet user according to claim 9, wherein at least one of the first and second accounts is an Internet payment account.

13. The system providing control preferences for a prospective Internet user according to claim 9, wherein account information for the first and second accounts is stored in a secure database.

14. The system providing control preferences for a prospective Internet user according to claim 9, further comprising a list of identified contributors from which the first user authorizes one or more approved third-party contributors such that the second user may send contribution requests only to the approved third-party contributors.

15. The system providing control preferences for a prospective Internet user according to claim 14, wherein the control settings of the second account designate an amount that each of the one or more third-party contributors may apply to the second account.

16. The system providing control preferences for a prospective Internet user according to claim 9, wherein the control settings of the second account designate the frequency that each of the one or more third-party contributors may apply an amount to the second account.

21. The system providing control preferences for a prospective Internet user according to claim 9, wherein at least one of the first user associated with the first account and the second user associated with the second account uses a mobile device.

17. A method of providing control preferences for a prospective Internet user, the method comprising:

establishing an online account that includes specific control parameters being stored in a database at a first server computer, the online account including a first account, a second account linked to first account, and a merchant account;

activating the online account by accessing, at a client computer different from the server computer, a web based system designated by the online account by making a purchase request to the web based system from the second account;

sending from the client computer, to the first account at the server computer, the specific control parameters associated with activating the online account and the purchase request via the merchant account;

validating the authenticity of the specific control parameters by the first account;

authorizing from the first account, the purchase request for the merchant account to execute;

transacting the purchase request by transferring payment from the first account to the merchant account associated with the web based system; and

controlling a use, by a user of the second account, of the web based system through the online account,

wherein the controlling the user'"'"'s use of the web based system includes allowing another user associated with the first account to be notified when a purchase is being made,

wherein the user of the second account is identified solely by a username and password, and

wherein shipping information for the purchase request is provided to the merchant account from the first account according to settings made by the another user, such that the user of the second account cannot change the shipping information.

18. The method of providing control preferences for a prospective Internet user according to claim 17, wherein the specific control parameters include which web based systems can be accessed, how much money can be spent at the web based systems, how much money can be spent over a certain time period, and who may contribute money to the online account.

19. The method of providing control preferences for a prospective Internet user according to claim 17, wherein the online account is exposed to the web based system through an application programming interface within a website associated with the merchant account.

22. The method of providing control preferences for a prospective Internet user according to claim 17, wherein at least the notifying includes the use of a mobile device.

29. The method according to claim 18, wherein the user may send requests for contributions of money only to third-party contributors included in the control parameter of who may contribute money to the online account.

23. A method for allowing a ward'"'"'s guardian to control internet transactions of the ward, the method comprising:

providing a guardian server computer, including a database for storing information related to the guardian and information related to controls on the ward'"'"'s ability to make internet purchases;

providing a ward server computer linked to the guardian server, the ward server computer including;

a database for storing information related to the ward and to at least one merchant approved by the guardian; and

purchasing controls set up through the guardian server computer,

wherein, in response to the ward through the ward server selecting to purchase goods or services from the at least one merchant, information for the merchant to fulfill the purchase is provided to the merchant only from the database of the guardian server computer and not from the ward server computer,

wherein the second user of the second account is identified solely by a username and password, and

wherein shipping information for the purchase request is provided from the first account according to settings made by the first user, such that the second user cannot change the shipping information.

24. The method according to claim 23, wherein the guardian is a parent and the ward is a child.

25. The method according to claim 23, wherein the information includes payment and shipping information.

26. The method according to claim 23, wherein the guardian server computer includes controls on what entity may contribute funds to the ward.

27. The method according to claim 23, wherein the guardian server computer includes controls on how much money the ward can spend at the at least one merchant.