Debit purchasing of stored value card for use by and/or delivery to others

• US 6,615,189 B1
• Filed: 06/22/1998
• Issued: 09/02/2003
• Est. Priority Date: 06/22/1998
• Status: Expired due to Term

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: Bank One Delaware National Association (JP Morgan Chase & Co)
• Inventors: Norwine, Jeffery A., Joines, Penny B., Phillips, Gregory Joseph, Deporte, Rebecca
• Primary Examiner(s): Hafiz, Tariq R.
• Assistant Examiner(s): MEINECKE DIAZ, SUSANNA M
• Application Number:
  US09/102,044
• Time in Patent Office: 1,898 Days
• Field of Search: 705/41, 705/1, 705/14, 705/26, 455/406, 379/114
• US Class Current: 705/41
• 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 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/355 Personalisation of cards for use
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• 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 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A method of issuing a purchase card is provided. The method includes the steps of presenting a purchaser with the opportunity to buy the purchase card, determining whether the purchaser has sufficient funds to pay for the purchase card, creating a purchase card account for a recipient designated by the purchaser, and issuing the purchase card. The purchase card may also be issued in connection with another credit card, for example as a rebate for purchases on the credit card. The purchase card may also be converted to a credit card.

Claims

1. A computer implemented method for issuing a stored value card affiliated with a predetermined credit network and an issuer, wherein the credit network and the issuer each have separate identification indicia, the method comprising:

presenting an individual purchaser with an opportunity to buy the stored value card;

determining with a computer processor whether the individual purchaser has sufficient funds to pay for the stored value card;

creating in a computer database an independent stored value card account for a recipient designated by the individual purchaser, the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount;

issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and

receiving notification from the recipient that the stored value card has been received.

2. The computer implemented method according to claim 1, wherein the step of receiving notification from the recipient activates the stored value card.

3. The computer implemented method according to claim 1, where the independent stored value card account contains a monetary amount determined by the individual purchaser.

4. The computer implemented method according to claim 1, where money can be added to an issued stored value card account by the recipient.

5. The computer implemented method according to claim 2, further comprising the step of notifying the individual purchaser that the stored value card has been received by the recipient.

6. The computer implemented method according to claim 2, where the stored value card is active for a predetermined period of time.

7. The computer implemented method according to claim 6, where the step of receiving notification from the recipient activates the stored value card.

8. A computer implemented method for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined credit network and the issuer and where the credit network and the issuer each have separate identification indicia, the method comprising:

issuing a credit card to a cardholder, said credit card being associated with a sponsor;

calculating on a computer processor a rebate amount based upon cardholder purchases made with said credit card;

creating in a computer database an independent stored value card account for a recipient designated by the cardholder, the stored value card having a purchase value determined by said rebate amount and the independent stored value card account only accessible by the recipient such that the issuer is unable to add funds to the account beyond the initial issue amount, wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name

b) a stored value card account number; and

c) a stored value card deposit amount;

issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and

receiving notification from the recipient that the stored value card has been received.

9. The computer implemented method according to claim 8, where activation of the stored value card comprises activating the stored value card for a predetermined period of time.

10. The computer implemented method according to claim 8 where the rebate is calculated based on all purchases made with the credit card.

11. The computer implemented method according to claim 8, where the rebate is calculated based on purchases made with the credit card from the sponsor.

12. The computer implemented method according to claim 8, where the rebate is calculated based on the monetary amount of the purchases.

13. The computer implemented method according to claim 8, where the sponsor notifies the issuer of the amount of said rebate, and said issuer creates said stored value card.

14. A computer implemented method for an issuer to issue a credit card comprising:

creating on a database an independent stored value card account for a recipient designated by an individual purchaser, the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount;

issuing the stored value card marked with the name of the recipient and at least one of an indicia of a predetermined credit network affiliated with the stored value card and an indicia of an issuer, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases;

receiving a request from the recipient to convert the stored value card into a credit card;

determining with a computer processor whether the recipient meets predetermined credit criteria to convert the stored value card into a credit card;

creating on a computer database a credit card account; and

converting the stored value card into a credit card.

15. The computer implemented method according to claim 14, where the balance of the stored value card account is transferred to the credit card account.

16. The computer implemented method according to claim 14, where converting the stored value card to a credit card immediately activates the credit card.

17. A computer implemented method for an issuer to issue a stored value card affiliated with a predetermined credit network, wherein the credit network has identification indicia, the method comprising:

presenting an individual purchaser with the opportunity to buy the stored value card;

determining with a computer processor whether the individual purchaser has sufficient funds to pay for the stored value card;

creating in a computer database a stored value card account for a recipient designated by the individual purchaser, wherein the stored value account comprises information about;

a) the recipient'"'"'s name;

b) a stored value card account number; and

c) a stored value card purchase amount;

issuing the stored value card, wherein the stored value card is accepted anywhere credit cards affiliated with the predetermined credit network are accepted and wherein the stored value card is marked with the credit network identification indicia; and

receiving notification from the recipient that the stored value card has been received.

18. The computer implemented method according to claim 17, where the step of receiving notification from the recipient activates the stored value card.

19. The computer implemented method according to claim 17, where the stored value card account contains a monetary amount determined by the individual purchaser.

20. The computer implemented method according to claim 17, where money can be added to an issued stored value card account by the recipient.

21. The computer implemented method according to claim 18, where activating the stored value card comprises the issuer of the stored value card notifying the individual purchaser that the stored value card has been received by the recipient.

22. A computer implemented system for issuing a stored value card affiliated with a predetermined credit network and an issuer, wherein the credit network and the issuer each have separate identification indicia, the system comprising:

means for presenting an individual purchaser with an opportunity to buy the stored value card;

means for determining whether the individual purchaser has sufficient funds to pay for the stored value card;

means for creating an independent stored value card account for a recipient designated by the individual purchaser, the independent stored value account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name

b) a stored value card account number; and

c) a stored value card purchase amount;

means for issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia, and wherein the stored value card is accepted for purchase anywhere the predetermined credit network is accepted for purchases; and

means for receiving notification from the recipient that the stored value card has been received.

23. The computer implemented system according to claim 22, wherein the means for receiving notification from the recipient activates the stored value card.

24. The computer implemented system according to claim 22, where the stored value card account contains a monetary amount determined by the individual purchaser.

25. The computer implemented system according to claim 22, where money can be added to an issued stored value card account by the recipient.

26. The computer implemented system according to claim 23, wherein the means for receiving notification from the recipient further comprises means for the issuer of the stored value card to notify the individual purchaser that the stored value card has been received by the recipient.

27. The computer implemented system according to claim 23, where the stored value card is active for a predetermined period of time.

28. A computer implemented system for an issuer to issue a stored value card as a rebate award, wherein the stored value card is affiliated with a predetermined credit network and the issuer and where the credit network and the issuer each have separate identification indicia, the system comprising:

means for issuing a credit card to a cardholder, said credit card being associated with a sponsor;

means for calculating a rebate amount based upon cardholder purchases made with said credit card;

means for creating an independent stored value card account for a recipient designated by the cardholder, the stored value card having a purchase value determined by said rebate amount, the independent stored value account such that the issuer is unable to add funds to the account beyond the initial issue amount, and wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name;

b) a stored value card account number; and

c) a stored value card deposit amount;

means for issuing the stored value card, wherein the stored value card is marked with the designated recipient'"'"'s name and at least one of the credit network identification indicia and the issuer identification indicia and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchases; and

means for receiving notification from the recipient that the stored value card has been received.

29. The computer implemented system according to claim 28, where the recipient activates the stored value card.

30. The computer implemented system according to claim 29, wherein activating the stored value card further comprises activating the stored value card for a predetermined period of time.

31. The computer implemented system according to claim 28, where the rebate is calculated based on all purchases made with the credit card.

32. The computer implemented system according to claim 28, where the rebate is calculated based on purchases made with the credit card from the sponsor.

33. The computer implemented system according to claim 28, where the rebate is calculated based on the monetary amount of the purchases.

34. The computer implemented system according to claim 28, further comprising:

means for the sponsor to notify the issuer of the amount of the rebate; and

means for the issuer to create the stored value card.

35. A computer implemented system for an issuer to issue a credit card comprising:

means for creating an independent stored value card account for a recipient designated by an individual purchaser the independent stored value card account only accessible by the recipient such that the individual purchaser is unable to add funds to the independent account beyond the initial issue amount, wherein the independent stored value card account comprises information about;

a) the recipient'"'"'s name;

b) a stored value card account number; and

c) a stored value card deposit amount;

means for issuing the stored value card marked with the name of the recipient and at least one of an indicia of a predetermined credit network and an indicia of an issuer, and wherein the stored value card is accepted for purchases anywhere the predetermined credit network is accepted for purchase;

means for receiving a request from the recipient to convert the stored value card into a credit card;

means for determining whether the recipient meets predetermined credit criteria to convert the stored value card into a credit card;

means for creating a credit card account; and

means for converting the stored value card into a credit card.

36. The computer implemented system according to claim 35, where the balance of the stored value card account is transferred to the credit card account.

37. The computer implemented system according to claim 35, where means for converting the stored value card to a credit card immediately activates the credit card.

38. The computer implemented system for an issuer to issue a stored value affiliated with a predetermined credit network wherein the credit network has identification indicia card comprising:

means for presenting an individual purchaser with the opportunity to buy the stored value card;

means for determining whether the individual purchaser has sufficient funds to pay for the stored value card;

means for creating a stored value card account for a recipient designated by the individual purchaser wherein the stored value card account comprises information about;

a) the recipient'"'"'s name

b) a stored value card account number; and

c) a stored value card purchase amount;

means for issuing the stored value card, wherein the stored value card is accepted anywhere credit cards affiliated with the predetermined credit network are accepted and wherein the stored value card is marked with the credit network indicia; and

means for receiving notification from the recipient that the stored value card has been received.

39. The computer implemented system according to claim 38, where the recipient activates the stored value card.

40. The computer implemented system according to claim 38, where the stored value card account contains a monetary amount determined by the individual purchaser.

41. The computer implemented system according to claim 39, where means for activating the stored value card further comprises means for the issuer of the stored value card to notify the individual purchaser that the stored value card has been received by the recipient.

42. The computer implemented system according to claim 39, where the stored value card is further marked with the name of the designated recipient.