Money card system, method and apparatus

• US 20030200180A1
• Filed: 05/14/2003
• Published: 10/23/2003
• Est. Priority Date: 05/08/2000
• Status: Active Grant

• Current Assignee: Patricia Phelan
• Original Assignee: Patricia Phelan
• Inventors: Phelan, Frank III, Phelan, Patricia
• Granted Patent: US 7,280,984 B2
• Time in Patent Office: Days
• US Class Current: 705/65
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/26 Debit schemes, e.g. "pay now"
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
• CPC Class Codes: G07F 7/1075 PIN is checked remotely

Abstract

The present invention provides a money card system, method and apparatus that is convenient, easy to use, does not require good or any credit, is useable by individuals having low incomes, is interchangeable with cash, is available in many currencies, can be used in COD transactions, and is safer than cash, checks, money orders, cashier'"'"'s checks, traveler'"'"'s checks, ATM cards, credit cards, debit cards, stored-value cards and smart cards. For these individuals, the money card would provide the functionality of cash enhanced with the security of a Personal Identification Number (PIN) or Personal Identification Code (PIC) or other biometric information, such as fingerprint, handprint, voiceprint, iris scan, retina scan, thermal image, electronic/digital signature or any other form of endorsement that may be used to personalize and secure the transaction.

Claims

1. A method for conducting a transaction using a money card comprising the steps of:

creating a transaction request containing a money card account information, a money card authentication information and a transaction amount;

transmitting the transaction request from a merchant to a clearinghouse;

determining whether to approve the transaction by verifying the money card account information and the money card authentication information with an account information stored in a database, and determining whether the transaction amount exceeds a credit balance for the money card stored in the database;

transmitting a transaction response, which approves or disapproves the transaction, to the merchant; and

whenever the transaction is approved, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.

2. The method of claim 1 further comprising the step of obtaining the money card account information and the money card authentication information from a customer.

3. The method of claim 1 further comprising the step of delivering one or more goods purchased with the transaction to a customer via a delivery service.

4. The method of claim 1 wherein the step of whenever the transaction is approved, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant comprises the steps of:

whenever the transaction is approved, blocking all or part of the credit balance based on the transaction amount;

delivering one or more goods purchased with the transaction to a customer via a delivery service;

creating a delivery transaction request containing the money card account information and the money card authentication information;

transmitting the delivery transaction request from the delivery service to the clearinghouse;

determining whether to approve the delivery by verifying the money card account information and the money card authentication information with the account information stored in the database;

transmitting a transaction response, which approves or disapproves the delivery, to the delivery service; and

whenever the delivery is approved, unblocking the credit balance, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.

5. The method of claim 1 wherein the transaction request and the transaction response are transmitted via the Internet.

6. The method of claim 1 wherein the money card account information comprises a money card number.

7. The method of claim 1 wherein the money card authentication information comprises a personal identification number.

8. The method of claim 1 wherein the money card authentication information comprises customer biometric data.

9. A method for dispensing a money card comprising the steps of:

obtaining a payment of funds and a money card authentication information from a customer;

creating an activation request containing a credit balance based on the payment of funds, the money card authentication information and a money card account information;

transmitting the activation request from a vendor to a clearinghouse;

creating an account for the money card and storing the credit balance, the money card authentication information and the money card account information in a database;

transmitting an activation response to the vendor; and

providing the money card to the customer.

10. The method of claim 9 wherein the vendor is an automated teller machine.

11. The method of claim 9 wherein the vendor is a vending machine.

12. The method of claim 9 wherein the vendor is a merchant.

13. A method for cardless authentication comprising the steps of:

receiving authentication information, the authentication information comprising;

vendor receipt information whenever a customer has a vendor receipt from the customer'"'"'s purchase of a money card, or

money card purchase information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has not been used, or

merchant receipt information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has been used and the customer has a merchant'"'"'s receipt, or

product purchase information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has been used and the customer does not have the merchant'"'"'s receipt; and

verifying the authentication information.

14. The method of claim 13 further comprising the step of receiving money card authentication information.

15. The method of claim 13 further comprising the step of providing a personal identification number to the customer.

16. The method of claim 13 further comprising the steps of:

determining whether the cardless authentication is for a purchase;

receiving money card authentication information whenever the cardless authentication is for a purchase; and

providing a personal identification number to the customer whenever the cardless authentication is not for a purchase.

17. A method for cardless authentication comprising the steps of:

receiving authentication information, the authentication information comprising;

general product purchase information and general vendor receipt information whenever a money card has been used and a customer does not have a previous merchant'"'"'s receipt and the customer does not have a vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

exact product purchase information and general vendor receipt information whenever the money card has been used and the customer has the previous merchant'"'"'s receipt and the customer does not have the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

general vendor receipt information whenever a money card has not been used and the customer does not have the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

exact vendor receipt information whenever the money card has not been used and the customer has the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card; and

verifying the authentication information.

18. The method of claim 17 further comprising the step of receiving money card authentication information.

19. The method of claim 17 further comprising the step of providing a personal identification number to the customer.

20. The method of claim 17 further comprising the steps of:

determining whether the cardless authentication is for a purchase;

receiving money card authentication information whenever the cardless authentication is for a purchase; and

providing a personal identification number to the customer whenever the cardless authentication is not for a purchase.

21. A computer program for conducting a transaction using a money card embodied on

a computer readable medium comprising:

a code segment for creating a transaction request containing a money card account information, a money card authentication information and a transaction amount;

a code segment for transmitting the transaction request from a merchant to a clearinghouse;

a code segment for determining whether to approve the transaction by verifying the money card account information and the money card authentication information with an account information stored in a database, and determining whether the transaction amount exceeds a credit balance for the money card stored in the database;

a code segment for transmitting a transaction response, which approves or disapproves the transaction, to the merchant; and

whenever the transaction is approved, a code segment for reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.

22. The computer program of claim 21 further comprising a code segment for obtaining the money card account information and the money card authentication information from a customer.

23. The computer program of claim 21 further comprising a code segment for delivering one or more goods purchased with the transaction to a customer via a delivery service.

24. The computer program of claim 21 wherein the code segment for reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant comprises:

whenever the transaction is approved, a code segment for blocking all or part of the credit balance based on the transaction amount;

a code segment for delivering one or more goods purchased with the transaction to a customer via a delivery service;

a code segment for creating a delivery transaction request containing the money card account information and the money card authentication information;

a code segment for transmitting the delivery transaction request from the delivery service to the clearinghouse;

a code segment for determining whether to approve the delivery by verifying the money card account information and the money card authentication information with the account information stored in the database;

a code segment for transmitting a transaction response, which approves or disapproves the delivery, to the delivery service; and

whenever the delivery is approved, a code segment for unblocking the credit balance, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.

25. A computer program for dispensing a money card embodied on a computer readable medium comprising:

a code segment for obtaining a payment of funds and a money card authentication information from a customer;

a code segment for creating an activation request containing a credit balance based on the payment of funds, the money card authentication information and a money card account information;

a code segment for transmitting the activation request from a vendor to a clearinghouse;

a code segment for creating an account for the money card and storing the credit balance, the money card authentication information and the money card account information in a database;

a code segment for transmitting an activation response to the vendor; and

a code segment for providing the money card to the customer.

26. A computer program for cardless authentication embodied on a computer readable medium comprising:

a code segment for receiving authentication information, the authentication information comprising;

vendor receipt information whenever a customer has a vendor receipt from the customer'"'"'s purchase of a money card, or

money card purchase information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has not been used, or

merchant receipt information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has been used and the customer has a merchant'"'"'s receipt, or

product purchase information whenever the customer does not have the vendor receipt from the customer'"'"'s purchase of the money card and the money card has been used and the customer does not have the merchant'"'"'s receipt; and

a code segment for verifying the authentication information.

27. The computer program of claim 26 further comprising a code segment for receiving money card authentication information.

28. The computer program of claim 26 further comprising a code segment for providing a personal identification number to the customer.

29. The computer program of claim 26 further comprising:

a code segment for determining whether the cardless authentication is for a purchase;

a code segment for receiving money card authentication information whenever the cardless authentication is for a purchase; and

a code segment for providing a personal identification number to the customer whenever the cardless authentication is not for a purchase.

30. A computer program for cardless authentication embodied on a computer readable medium comprising:

a code segment for receiving authentication information, the authentication information comprising;

general product purchase information and general vendor receipt information whenever a money card has been used and a customer does not have a previous merchant'"'"'s receipt and the customer does not have a vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

exact product purchase information and general vendor receipt information whenever the money card has been used and the customer has the previous merchant'"'"'s receipt and the customer does not have the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

general vendor receipt information whenever a money card has not been used and the customer does not have the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card, or

exact vendor receipt information whenever the money card has not been used and the customer has the vendor'"'"'s receipt from the customer'"'"'s purchase of the money card; and

a code segment for verifying the authentication information.

31. The computer program of claim 30 further comprising a code segment for receiving money card authentication information.

32. The computer program of claim 30 further comprising a code segment for providing a personal identification number to the customer.

33. The computer program of claim 30 further comprising:

a code segment for determining whether the cardless authentication is for a purchase;

a code segment for receiving money card authentication information whenever the cardless authentication is for a purchase; and

a code segment for providing a personal identification number to the customer whenever the cardless authentication is not for a purchase.

34. A system for conducting a transaction using a money card comprising:

a merchant unit that creates and transmits a transaction request containing a money card account information, a money card authentication information and a transaction amount;

a clearinghouse that determines whether to approve the transaction by verifying the money card account information and the money card authentication information with an account information stored in a database, and determines whether the transaction amount exceeds a credit balance for the money card stored in the database, the clearinghouse further creating and transmitting a transaction response, which approves or disapproves the transaction, and whenever the transaction is approved, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant; and

a communication link between the merchant unit and the clearinghouse for transmission of the transaction request and the transaction response.

35. The system of claim 34 further comprising:

a delivery unit that creates and transmits a delivery transaction request containing the money card account information and the money card authentication information to the clearinghouse;

whenever the transaction is approved, the clearinghouse further blocks all or part of the credit balance based on the transaction amount, determines whether to approve the delivery by verifying the money card account information and the money card authentication information with the account information stored in the database, and creates and transmits a transaction response, which approves or disapproves the delivery, to the delivery service; and

whenever the delivery is approved, unblocking the credit balance, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.

36. A system for dispensing a money card comprising:

a vendor unit that creates and transmits an activation request containing a credit balance based on a payment of funds, a money card authentication information and a money card account information;

a clearinghouse that creates an account for the money card and stores the credit balance, the money card authentication information and the money card account information in a database, and creates and transmits an activation response; and

a communication link between the vendor unit and the clearinghouse for transmission of the activation request and the activation response.