System and method for funding a collective account by use of an electronic tag

• US 20080010202A1
• Filed: 07/26/2007
• Published: 01/10/2008
• Est. Priority Date: 08/13/2001
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: Bank One Delaware NA (JP Morgan Chase & Co), Chase Manhattan Mortgage Corporation (JP Morgan Chase & Co), First USA Bank N.A. (JP Morgan Chase & Co), JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Schwarz, Charles
• Granted Patent: US 8,020,754 B2
• Time in Patent Office: Days
• US Class Current: 705/041
• 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 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A system and method for funding a collective account via aggregating usage of electronic tags is disclosed. The system and method promotes the use of electronic tags, and the funding of collective accounts that may be associated with charitable or other philanthropic causes. Further benefits may be realized by replenishing the prefunded account that serves as the source of funds for the electronic tag to an affinity account that also benefits the charitable or other philanthropic cause.

Claims

1-35. -35. (canceled)

36. A method for automatically reloading a prefunded account associated with an RFID tag, the method comprising:

associating an RFID tag with a prefunded account, a financial institution and at least one organization, wherein a tagholder is the holder of the prefunded account, wherein further the financial institution comprises one or more host computers, wherein further the host computer calculates a reward based at least in part on RFID tag usage;

determining that an event related to a prefunded account has occurred;

incrementing a balance of the prefunded account by a pre-authorized amount; and

notifying a holder of the account that incrementing the balance has occurred.

37. The method of claim 36, wherein determining that an event related to the prefunded account has occurred comprises determining that the balance of the prefunded account has reached a threshold value.

38. The method of claim 36, wherein determining that an event related to the prefunded account has occurred comprises determining that the balance of the prefunded account has fallen below a threshold value.

39. The method of claim 36, wherein determining that an event related to the prefunded account has occurred comprises determining that an activity of the prefunded account satisfies a goal.

40. The method of claim 39, wherein the activity of the prefunded account comprises a plurality of purchases made that are funded using the prefunded account as the source of payment for the purchases, and satisfying the goal comprises a predetermined number of purchases made that use the prefunded account as the source of payment for the purchases, after which the prefunded account is automatically reloaded with the pre-authorized amount.

41. The method of claim 39, wherein the activity of the prefunded account comprises a dollar amount of purchases made using the prefunded account, and satisfying the promotion goal comprises the dollar amount or purchases made using the prefunded account comprising a predetermined dollar amount, after which the prefunded account is automatically reloaded with the pre-authorized amount.

42. The method of claim 36, wherein at least one of determining, incrementing or notifying are performed in real-time.

43. The method of claim 36, wherein at least one of determining, incrementing or notifying are performed in near real-time.

44. The method of claim 36, wherein at least one of determining, incrementing or notifying are performed periodically.

45. The method of claim 36, wherein at least one of determining, incrementing or notifying are performed at a point-of-sale location upon use of the prefunded account.

46. The method of claim 45, wherein determining, incrementing and notifying are performed prior to a next use of the prefunded account.

47. An apparatus to automatically reload a prefunded account associated with an RFID tag, comprising:

a central processor configured to associate an RFID tag with a prefunded account, a financial institution and at least one organization, wherein a tagholder is the holder of the prefunded account, wherein further the financial institution comprises one or more host computers, wherein further the host computer is configured to calculate a reward based at least in part on RFID tag usage;

an event processor to determine whether an event should trigger an automatic reload of the prefunded account;

a payment processor to authorize payment for a reload amount triggered by the event; and

a reloader to increment an account balance of the prefunded account by the authorized reload amount.

48. The apparatus of claim 47, wherein the event triggers the automatic reload when the event matches a reload preference associated with the prefunded account.

49. The apparatus of claim 48, wherein the reload preference comprises a balance of the prefunded account reaching a threshold balance.

50. The apparatus of claim 48, wherein the reload preference comprises activity of the prefunded account reaching a threshold activity.

51. The apparatus of claim 50, wherein the threshold activity comprises a number of purchases made using the prefunded account as the source of payment for the purchases.

52. The apparatus of claim 50, wherein the threshold activity comprises a dollar amount of purchases made with the prefunded account as the source of payment for the purchases.

53. A method for reloading a prefunded account associated with an RFID tag, comprising:

associating an RFID tag with a prefunded account, a financial institution and at least one organization, wherein a tagholder is the holder of the prefunded account, wherein further the financial institution comprises one or more host computers, wherein further the host computer calculates a reward based at least in part on RFID tag usage;

receiving a request to reload the prefunded account, the request automatically generated in accordance with an automatic reload preference;

incrementing a balance of an account associated with the prefunded account by an automatic reload amount indicated in the request; and

confirming whether the request has been completed.

54. The method of claim 53, wherein the request automatically generates after the occurrence of an event specified in the automatic reload preference.

55. The method of claim 54, wherein the event comprises a determination that the balance of the prefunded account has fallen below a threshold amount specified in the automatic reload preference.

56. The method of claim 54, wherein the event comprises a determination that the prefunded account is eligible for a reward.

57. A computer-accessible medium having executable instructions to reload a prefunded account, the instructions comprising:

determining that an event related to a prefunded account has occurred;

incrementing a balance of an account associated with the prefunded account by a pre-authorized amount; and

notifying a holder of the account of that the balance was incremented,

wherein an RFID tag is associated with the prefunded account, a financial institution and at least one organization, wherein a tagholder is the holder of the prefunded account, wherein further the financial institution comprises one or more host computers, wherein further the host computer calculates a reward based at least in part on RFID tag usage.

58. The computer-accessible medium of claim 57, wherein determining that an event related to the prefunded account has occurred comprises comparing the balance of the account to a specified threshold value to determine whether the threshold value has been reached.

59. The computer-accessible medium of claim 58, wherein comparing the balance of the prefunded account to the specified threshold value comprises determining whether the balance has fallen below the threshold value.

60. The computer-accessible medium of claim 57, wherein determining that an event related to the prefunded account has occurred comprises determining that an activity associated with using the prefunded account satisfies a predetermined goal.

61. The computer-accessible medium of claim 60, wherein the activity associated with using the prefunded account comprises a number of purchases made using the prefunded account as the source of payment for the purchases, and the predetermined goal is satisfied when the number of purchases reaches a specified number of purchases, after which the account is automatically reloaded with the pre-authorized amount.

62. The computer-accessible medium of claim 60, wherein the activity associated with using the prefunded account comprises a dollar amount purchased using the prefunded account as the source of payment for the purchases, and the predetermined goal is satisfied when the dollar amount reaches a specified dollar amount of purchases, after which the prefunded account is automatically reloaded with the pre-authorized amount.

63. The computer-accessible medium of claim 57, wherein at least one of the instructions to determine, to increment and to notify are performed in real-time.

64. The computer-accessible medium of claim 57, wherein at least one of the instructions to determine, to increment and to notify are performed in near real-time.

65. The computer-accessible medium of claim 57, wherein at least one of the instructions to determine, to increment and to notify are performed periodically.

66. The computer-accessible medium of claim 57, wherein at least one of the instructions to determine, to increment and to notify are performed at a point of sale location upon use of the prefunded account.

67. The computer-accessible medium of claim 66, wherein at least one of the instructions to determine, to increment and to notify are performed prior to a next use of the prefunded account.