Receipt insurance systems and methods

• US 8,849,683 B2
• Filed: 10/15/2013
• Issued: 09/30/2014
• Est. Priority Date: 06/25/2009
• Status: Active Grant

• Current Assignee: Victor T. Smith
• Original Assignee: Victor T. Smith
• Inventors: Smith, Victor T.
• Primary Examiner(s): Robinson, Kito R
• Application Number:
  US14/053,844
• Publication Number:
  US 20140039940A1
• Time in Patent Office: 350 Days
• Field of Search: 705/4, 705/35
• US Class Current: 705/4
• 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 20/389 Keeping log of transactions for guaranteeing non-repudiation of a transaction
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Receipt insurance systems and methods provide protection to consumers against losses which may result from failure to possess a physical receipt or proof of purchase for retail purchase transactions. In one embodiment, a third party receipt insurer insures or guarantees consumers or purchasers of benefits associated with having possession of a receipt or other proof of purchase for a retail purchase without the need for possession of a physical or paper receipt. A receipt insurance agreement between a receipt insurance provider and a consumer protects the consumer against a loss of consumer rights or personal property insurance rights resulting from a lost receipt by electronically storing for retrieval, if necessary, an electronic record of all of the receipt information.

Claims

1. A computer implemented method of providing receipt insurance in connection with retail purchase transactions between consumers and retailers, the method comprising the steps of:

displaying to a consumer on a display of a computer availability of receipt insurance from a receipt insurer by which a consumer is insured against loss related to a receipt for a purchase from a retailer;

the consumer selecting from the display to purchase receipt insurance from the receipt insurer and paying by a networked connection to the computer a receipt insurance premium to the receipt insurer;

the receipt insurer receiving by a networked connection to a point of sale terminal of a retailer a record of a receipt for a purchase by the consumer from the retailer which is insured by the receipt insurer, and

the receipt insurer paying the retailer an amount based upon the receipt insurance premium paid by the consumer.

2. The computer implemented method of claim 1 further comprising the steps of:

displaying to the consumer availability of receipt insurance from a receipt insurer to insure a consumer against loss related to receipts for purchases from a plurality of retailers, and

the receipt insurer paying a plurality of retailers an amount based upon the receipt insurance premium paid by the consumer.

3. The computer implemented method of claim 1 further comprising the step of:

the receipt insurer paying the retailer an amount based upon the receipt insurance premium paid by the consumer and per purchase by the consumer.

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

the consumer selecting from the display to purchase receipt insurance from the receipt insurer and paying by a networked connection to the computer a receipt insurance premium to the receipt insurer in connection with a consumer credit card account.

5. The computer implemented method of claim 1 wherein the consumers pay the premium to the receipt insurer for the receipt insurance for a period of time in which the purchases are to be provided with receipt insurance.

6. The computer implemented method of claim 1 further comprising the step of a consumer paying a premium or premiums for receipt insurance to an issuer of a credit card or debit card or to a custodian of an account by the networked computer connection to the programmed computer.