Multiple account advanced payment card and method of routing card transactions

• US 20030061157A1
• Filed: 07/24/2002
• Published: 03/27/2003
• Est. Priority Date: 07/24/2001
• 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, Fellner, Debra C., Fox, Steven, Hirka, Jeffrey L.
• Granted Patent: US 7,860,789 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/3576 Multiple memory zones on card
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A system of accessing through a financial processing network multiple accounts associated with a single financial card. Data is input to the financial network in addition to the transaction data and the account identification data that in read from the card. This addition data permits the proper account to be accessed. The data may be input at the point of sale as an account selection. In this instance, the selection may be used to route the transaction data through the financial processing network or may be used to read data regarding one of multiple accounts encoded on the card. The data may also be stored as conditional routing rules at transfer points in the financial processing network. In this instance, the transaction is routed to the proper account based on the stored rules.

Claims

1. A method for accessing, through a financial processing chain, multiple accounts associated with a single financial card containing data regarding the multiple accounts comprising the steps of:

receiving selection information designating a selected account for use in a transaction involving the financial card;

reading relevant account identification information from the financial card in conjunction with the transaction, said relevant account identification information selected from among the data regarding the multiple accounts based on the selection information;

creating transaction information regarding the transaction;

forming a transaction request including the relevant account identification information and the transaction information; and

routing the transaction request through the financial processing chain based on the account information to access the selected account.

2. A method for accessing, through a financial processing chain, multiple accounts associated with a single financial card containing data regarding the multiple accounts comprising the steps of:

reading the data regarding the multiple accounts from the financial card for use in a transaction regarding the financial card;

receiving selection information designating a selected account to be accessed with respect to the transaction;

selecting relevant account identification information based on the selection information;

creating transaction information regarding the transaction;

forming a transaction request including the relevant account identification information and the transaction information; and

routing the transaction request through the financial processing chain based on the account information to access the selected account.

3. A method for accessing, through a financial processing chain, multiple accounts associated with a single financial card comprising the steps of:

reading identification information from the financial card for use in a transaction regarding the financial card;

creating transaction information regarding the transaction;

receiving selection information regarding a selected account to access with respect to the transaction;

forming a transaction request including the identification information, transaction information, and selection information;

routing the transaction request through the financial processing chain based on the identification information and the selection information.

4. The method according to claim 3 wherein the financial processing chain includes multiple processors including merchant processors, merchant acquires, card associations and member processors and wherein the step of routing includes routing the transaction request a selected processors based on the identification information and the selection information.

5. The method according to claim 3 further including the steps of:

receiving the transaction request at a processor in the financial processing chain based on the step of routing;

selecting account identification information at the processor based on the identification information and the selection information;

forming a second further transaction request at the processor, the second transaction request including the account identification information; and

further routing the second transaction request through the financial processing chain based on the account identification information to access the selected account.

6. A method for accessing, through a financial processing chain, multiple accounts associated with a single financial card comprising the steps of:

defining rules for routing types of transactions for which the financial card may be used;

reading identification information from the financial card during a transaction involving the financial card;

creating transaction information regarding the transaction;

forming a transaction request including the identification information and the transaction information; and

routing the transaction request through the financial processing chain based on the rules to conditionally accesses at least one of the multiple accounts.

7. The method according to claim 6, further including the step of defining an arbitration protocol for resolving conflicts between the rules.

8. The method according to claim 6 wherein the financial processing chain includes multiple processors including merchant processors, merchant acquires, card associations and member processors and wherein the step of routing includes routing the transaction request to a selected processor based on the rules.

9. The method according to claim 6 further including the steps of:

receiving the transaction request at a processor in the financial processing chain based on the step of routing;

selecting account identification information at the processor based on the identification information and the rules;

forming a second further transaction request at the processor, the second transaction request including the account identification information; and

further routing the second transaction request through the financial processing chain based on the account identification information to access the selected account.

10. A method for accessing, through a financial processing chain, multiple accounts associated with a single financial card comprising the steps of:

reading identification information from the financial card during a transaction involving the financial card;

creating transaction information regarding the transaction;

forming a transaction request including the identification information and the transaction information;

routing the transaction request through the financial processing chain;

storing the transaction request;

receiving selection information associated with the transaction request regarding a selected account in which to post the transaction; and

accessing the selected account based on the selection information.