SYSTEM AND METHOD FOR PROCESSING GIFT CARDS

• US 20110106698A1
• Filed: 12/14/2010
• Published: 05/05/2011
• Est. Priority Date: 06/12/2008
• Status: Active Grant

• Current Assignee: GiftYa, LLC
• Original Assignee: GiftYa, LLC
• Inventors: Durham, Ryan Connell, ISAACSON, Thomas M.
• Granted Patent: US 8,285,643 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for enabling gift card recipients to redeem gift card amounts using existing accounts such as a credit/debit card. A system practicing the method identifies a giver and recipient of a gift card amount and associated accounts. A policy is established which governs how the gift card is redeemed, such as a specific merchant or item. When the recipient makes a purchase using an existing credit/debit card according to the policy, the gift card amount is applied to the transaction. No special codes, separate physical gift cards, or printable coupons are necessary for redemption. The recipient makes purchases using their normal purchasing credit/debit card via a qualifying purchase according to the policy, and the gift card is applied automatically. The recipient credit/debit card becomes a combination of an open-looped card and a closed-loop card. Thus, no money is wasted or lost.

Claims

1. A method of giving a gift card, the method comprising:

receiving an identification of a giver of a gift card and a recipient of the gift card at a first time;

associating the giver with a giver account and the recipient with a recipient account that existed prior to the first time;

associating a policy with the gift card;

monitoring transactions of the recipient using the recipient account;

receiving information based on the monitoring that the recipient has made a transaction using the recipient account according to the policy, the transaction occurring at a second time which is later than the first time; and

applying an amount of money from the giver account to the transaction according to the policy.

2. The method of claim 1, wherein associating the policy with the gift card further comprises receiving a gift card amount of money for the gift card from the giver.

3. The method of claim 1, wherein associating the policy with the gift card further comprises receiving an identification of a merchant at which a recipient transaction using the recipient account will trigger application of the amount of money from the giver account.

4. The method of claim 1, wherein the policy comprises at least one of:

a class of goods or services, an amount of money, a merchant, a ceiling amount of money, a time frame for use of the gift card, one or more recipient accounts that when used can trigger the transfer of money from the giver account to the one or more recipient accounts, and a predetermined period of time in which if all the amount of money associated with the gift card is not used according to the policy, a remainder amount of money is transferred from the giver account to the recipient account.

5. The method of claim 1, further comprising determining whether, after applying the amount of money from the giver account for the transaction, the gift card has remaining funds according to the policy.

6. The method of claim 5, wherein if the gift card has remaining funds, the method further comprises transferring the funds from the giver account to the recipient account according to the policy.

7. The method of claim 1, wherein the transaction is made independent of any communication to the recipient.

8. The method of claim 1, wherein if the amount of money from the giver account that is applied does not deplete the gift card to yield a remaining gift card amount, then after a predetermined period of time in which the recipient does not use the recipient account for a transaction under the policy, then performing one of transferring the remaining amount from the giver account to the recipient account and canceling the transfer of the remaining amount from the giver account to the recipient account.

9. The method of claim 1, wherein if applying the amount of money from the giver account for the transaction yields a remaining amount of money on the gift card, the method further comprises, upon the recipient using the recipient account to make an additional purchase under the policy, then applying the remaining amount of money to the additional purchase.

10. The method of claim 1, wherein the recipient account exists prior to the first time.

11. The method of claim 1, further comprising:

receiving from the giver a request to establish a subscription having at least one subscription requirement as part of the policy associated with the gift card; and

establishing the subscription to automatically apply a subscription amount of money at least one transaction of the recipient based on the at least one subscription requirement in the policy.

12. The method of claim 1, further comprising notifying the recipient of at least one of the giver, the amount of money, the existence of the gift card, and a condition of the policy that will trigger the transfer of the amount of money in the gift card.

13. The method of claim 1, further comprising notifying the recipient of at least one of the gift card, an amount of money associated with the gift card, the recipient account that is to be used to redeem the gift card, and a merchant at which to make a purchase using the recipient account to redeem the gift card.

14. The method of claim 1, further comprising after the transaction, sending a notification to the giver that the amount of money was applied for the transaction.

15. The method of claim 14, wherein the notification comprises at least one of a description of an object of the transaction to which the amount of money was applied, a purchase time, a purchase date, and a merchant.

16. The method of claim 1, wherein the giver account is one of a giver credit card account and a giver debit card account and wherein the recipient account is one of a recipient credit card account and a recipient debit card account.

17. The method of claim 16, wherein the policy manages applying the amount of money from the giver account according to whether a respective account is a credit card account or a debit card account.

18. The method of claim 1, further comprising:

identifying a plurality of recipient payment accounts; and

upon the recipient using one of the recipient payment accounts to make the purchase, applying the amount of money to the purchase in the manner associated with the one of the recipient payment accounts.

19. A non-transitory computer readable storage medium storing instructions for controlling a device to manage a transaction involving a gift card, the instructions comprising:

receiving an identification of a giver of a gift card and a recipient of the gift card;

associating the giver with a giver account and the recipient with a recipient account that existed prior to the first time;

associating a policy with the gift card at a first time;

monitoring transactions of the recipient using the recipient account;

receiving information based on the monitoring that the recipient has made a transaction using the recipient account according to the policy and at a second time which is later than the first time; and

applying an amount of money from the giver account to the transaction according to the policy.

20. A system for managing a transaction involving a gift card, the system comprising:

a processor;

a first module configured to control the processor to an identification of a giver of a gift card and a recipient of the gift card;

a second module configured to control the processor to associate the giver with a giver account and the recipient with a recipient account that existed prior to the first time;

a third module configured to control the processor to associate a policy with the gift card at a first time;

a fourth module configured to control the processor to monitor transactions of the recipient using the recipient account;

a fifth module configured to control the processor to receive information based on the monitoring that the recipient has made a transaction using the recipient account according to the policy and at a second time which is later than the first time; and

a sixth module configured to control the processor to apply an amount of money from the giver account to the transaction according to the policy.