System and method for chopping up and processing gift cards

• US 9,336,521 B2
• Filed: 04/23/2015
• Issued: 05/10/2016
• Est. Priority Date: 02/09/2009
• Status: Active Grant

• Current Assignee: GiftCodes.com, LLC
• Original Assignee: GiftCodes.com, LLC
• Inventors: Wolfe, Jason
• Primary Examiner(s): Haupt, Kristy A
• Application Number:
  US14/694,322
• Publication Number:
  US 20150227918A1
• Time in Patent Office: 383 Days
• US Class Current: 1/1
• CPC Class Codes: G06K 19/06028 using bar codes
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/354 Card activation or deactivation
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07F 7/127 in which both online and offline card verification can take place

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

Claims

1. A method comprising:

purchasing a closed loop account having a value amount;

creating, via a processor of a computing device, a first closed loop account and a second closed loop account;

transferring a first portion of the value amount from the closed loop account to the first closed loop account;

transferring a second portion of the value amount from the closed loop account to the second closed loop account; and

offering one of the first closed loop account and the second closed loop account for sale to a second user.

2. The method of claim 1, wherein the first portion and the second portion combined equal the value amount.

3. The method of claim 1, wherein the first portion and the second portion combined are smaller than the value amount.

4. The method of claim 1, further comprising:

receiving an additional amount of money to yield a new value amount comprising the value amount plus the additional amount of money.

5. The method of claim 4, the first portion and the second portion combined are smaller than the new value amount.

6. The method of claim 1, further comprising:

deactivating the closed loop account.

7. The method of claim 1, further comprising:

confirming the value amount of the closed loop account prior to purchasing the closed loop account.

8. A system comprising:

a processor; and

a computer-readable storage medium storing instructions which, when executed by the processor, cause the processor to perform operations comprising;

purchasing a closed loop account having a value amount;

creating, via a processor of a computing device, a first closed loop account and a second closed loop account;

transferring a first portion of the value amount from the closed loop account to the first closed loop account;

transferring a second portion of the value amount from the closed loop account to the second closed loop account; and

offering one of the first closed loop account and the second closed loop account for sale to a second user.

9. The system of claim 8, wherein the first portion and the second portion combined equal the value amount.

10. The system of claim 8, wherein the first portion and the second portion combined are smaller than the value amount.

11. The system of claim 8, the computer-readable storage medium storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

receiving an additional amount of money to yield a new value amount comprising the value amount plus the additional amount of money.

12. The system of claim 11, the first portion and the second portion combined are smaller than the new value amount.

13. The system of claim 8, the computer-readable storage medium storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

deactivating the closed loop account.

14. The system of claim 8, the computer-readable storage medium storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

confirming the value amount of the closed loop account prior to purchasing the closed loop account.

15. A computer-readable storage device storing instructions which, when executed by a processor, cause the processor to perform operations comprising:

purchasing a closed loop account having a value amount;

creating, via a processor of a computing device, a first closed loop account and a second closed loop account;

transferring a first portion of the value amount from the closed loop account to the first closed loop account;

transferring a second portion of the value amount from the closed loop account to the second closed loop account; and

offering one of the first closed loop account and the second closed loop account for sale to a second user.

16. The computer-readable storage device of claim 15, wherein the first portion and the second portion combined equal the value amount.

17. The computer-readable storage device of claim 15, wherein the first portion and the second portion combined are smaller than the value amount.

18. The computer-readable storage device of claim 15, storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

receiving an additional amount of money to yield a new value amount comprising the value amount plus the additional amount of money.

19. The computer-readable storage device of claim 15, storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

deactivating the closed loop account.

20. The computer-readable storage device of claim 15, storing further instructions which, when executed by the processor, cause the processor to perform operations further comprising:

confirming the value amount of the closed loop account prior to purchasing the closed loop account.