System and method for converting closed loop cards into gift codes
First Claim
1. A method comprising:
- receiving an indication from a first consumer identifying a closed loop card, wherein the first consumer is not a company;
receiving a confirmation of an amount of money in an account associated with the closed loop card;
presenting a first offer to purchase the closed loop card at an offer amount less than the amount of money;
upon acceptance of the first offer, deactivating the closed loop card;
presenting a second offer to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company;
receiving acceptance of the second offer; and
associating, via a processor, an electronic gift code with the amount of money for use by the second consumer, wherein the electronic gift code is redeemable at a merchant point of sale and does not represent a physical gift instrument.
3 Assignments
0 Petitions
Accused Products
Abstract
Disclosed herein are systems, methods, and computer-readable storage media for generating a gift code. The system receives an indication from a first user identifying a closed loop card, receives a confirmation of an amount of money in an account associated with the closed loop card, offers to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card, and upon acceptance of the offer, deactivates the closed loop card. The system then offers to sell the amount of money at a discount rate to a second user, receives acceptance of the offer to sell the amount of money at the discount rate, and associates a gift code with the amount of money for use by the second user. Gift codes can have no expiration date. A multi-process secure gateway can confirm the amount of money.
44 Citations
26 Claims
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1. A method comprising:
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receiving an indication from a first consumer identifying a closed loop card, wherein the first consumer is not a company; receiving a confirmation of an amount of money in an account associated with the closed loop card; presenting a first offer to purchase the closed loop card at an offer amount less than the amount of money; upon acceptance of the first offer, deactivating the closed loop card; presenting a second offer to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company; receiving acceptance of the second offer; and associating, via a processor, an electronic gift code with the amount of money for use by the second consumer, wherein the electronic gift code is redeemable at a merchant point of sale and does not represent a physical gift instrument. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for processing closed loop cards, the system comprising:
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a processor; and a computer-readable storage medium storing instructions which, when executed by the processor, cause the processor to perform operations comprising; receiving an indication from a first consumer identifying a closed loop card, wherein the first consumer is not a company; receiving a confirmation of an amount of money in an account associated with the closed loop card; presenting a first offer to purchase the closed loop card at an offer amount less than the amount of money; upon acceptance of the first offer, deactivating the closed loop card; offering to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company; receiving acceptance of the second offer; and associating an electronic gift code with the amount of money for use by the second consumer, wherein the electronic gift code is redeemable at a merchant point of sale and does not represent a physical gift instrument. - View Dependent Claims (13, 14, 15, 16)
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17. A non-transitory computer-readable storage medium storing instructions which, when executed by a computing device, control the computing device to process closed loop cards, the instructions comprising:
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receiving an indication from a first consumer identifying a closed loop card, wherein the first consumer is not a company; receiving a confirmation of an amount of money in an account associated with the closed loop card; presenting a first offer to purchase the closed loop card at an offer amount less than the amount of money; upon acceptance of the first offer, deactivating the closed loop card; presenting a second offer to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company; receiving acceptance of the second offer; and associating, via a processor, an electronic gift code with the amount of money for use by the second consumer, wherein the electronic gift code is redeemable at a merchant point of sale and does not represent a physical gift instrument. - View Dependent Claims (18, 19, 20, 21, 22)
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23. A method comprising:
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receiving an indication from a first consumer identifying a first code, wherein the first code is electronic and independent of a physical gift instrument, wherein the first consumer is not a company; receiving a confirmation of an amount of money in an account associated with the first code; presenting a first offer to purchase the first code at an offer amount less than the amount of money; upon acceptance of the first offer, deactivating the first code; presenting a second offer to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company; receiving acceptance of the second offer; and associating, via a processor, a second code with the amount of money for use by the second consumer, wherein the second code is electronic and independent of a physical gift instrument. - View Dependent Claims (24, 25, 26)
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Specification