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

• US 6,892,187 B2
• Filed: 05/20/2003
• Issued: 05/10/2005
• 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: Phillips, Gregory Joseph, Deporte, Rebecca, Norwine, Jeffery A., Joines, Penny B.
• Primary Examiner(s): MEINECKE DIAZ, SUSANNA M
• Application Number:
  US10/441,067
• Publication Number:
  US 20030195849A1
• Time in Patent Office: 721 Days
• Field of Search: 705/1, 705/14, 705/26, 705/41, 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, the method comprising:

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

prior to issuing the stored value card, determining with a computer processor whether the individual human purchaser has sufficient funds in a card-based account of the individual human purchaser 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 human purchaser, 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;

the independent stored value account being accessible by the recipient to add funds after the card is issued;

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

receiving notification from the recipient that the stored value card has been received, wherein said notification occurs separate from the recipient'"'"'s use of the card to execute a stored value card transaction;

verifying the identity of the recipient; and

activating the stored value card based on the verification.

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 2, further comprising the step of notifying the individual human purchaser that the stored value card has been received by the recipient.

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

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

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

7. The computer implemented method according to claim 1, where the purchaser adds funds to the card account.

8. The computer implemented method according to claim 1, where the predetermined credit network and the issuer are the same.

9. The computer implemented method according to claim 1, where the predetermined credit network and the issuer are different.

10. A computer implemented system for issuing a stored value card affiliated with a predetermined credit network and an issuer, the system comprising:

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

means for determining whether the individual human purchaser has sufficient funds available in a card-based account of the individual human purchaser to pay for the stored value card prior to issuing the stored value card;

means for creating an independent stored value card account for a recipient designated by the individual human purchaser, 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,

the independent stored value account being accessible by the recipient to add funds after the card is issued;

means for issuing the stored value card by the issuer directly to the recipient, wherein the stored value card is marked with the designated recipient'"'"'s name at the time of issuance and at least one of credit network identification indicia associated with the credit network and issuer identification indicia associated with the issuer, 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 wherein said notification occurs separate from the recipient'"'"'s use of the card to execute a stored value card transaction and includes verifying the identity of the recipient and activating the stored value card based on the verification.

11. The computer implemented system according to claim 10, wherein the means for receiving notification from the recipient activates the stored value card.

12. The computer implemented system according to claim 11, where money can be added to an issued stored value card account by the recipient.

13. The computer implemented system according to claim 11, wherein the means for receiving notification from the recipient further comprises means for the issuer of the stored value card to notify the individual human purchaser that the stored value card has been received by the recipient.

14. The computer implemented system according to claim 11, where the stored value card is active for a predetermined period of time.

15. The computer implemented system according to claim 10, where the stored value card account contains a monetary amount determined by the individual human purchaser.

16. The computer implemented system according to claim 10, where the purchaser adds funds to the card account.

17. The computer implemented system according to claim 10, where the predetermined credit network and the issuer are the same.

18. The computer implemented system according to claim 10, where the predetermined credit network and the issuer are different.