Sponsor funded stored value card
DCFirst Claim
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1. A method for issuing a stored value card affiliated with a predetermined credit network, an organization sponsor, and an issuer, wherein the credit network, the issuer, and the organization sponsor each have separate identification indicia, the method comprising:
- creating one account associated with the stored value card, wherein the organization sponsor funds the account and the account is independent and unassociated with any other account; and
issuing the stored value card to a cardholder, wherein;
a) the issued stored value card is marked with the cardholder'"'"'s name and at least one of the credit network identification indicia, the issuer identification indicia, and the organization sponsor identification indicia;
b) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; and
c) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network.
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Abstract
A method and system for issuing a sponsor funded stored value card. A sponsor company funds an account associated with the stored value card. The stored value card is issued to a cardholder, who can withdraw funds from the account, but cannot deposit additional funds in the account. A sponsor funded stored value card may reduce expenses and difficulties associated with written checks.
589 Citations
40 Claims
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1. A method for issuing a stored value card affiliated with a predetermined credit network, an organization sponsor, and an issuer, wherein the credit network, the issuer, and the organization sponsor each have separate identification indicia, the method comprising:
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creating one account associated with the stored value card, wherein the organization sponsor funds the account and the account is independent and unassociated with any other account; and issuing the stored value card to a cardholder, wherein; a) the issued stored value card is marked with the cardholder'"'"'s name and at least one of the credit network identification indicia, the issuer identification indicia, and the organization sponsor identification indicia; b) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; and c) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for issuing a stored value card affiliated with a predetermined credit network, an organization sponsor and an issuer, wherein the credit network, and the issuer, and the sponsor each have separate identification indicia, the system comprising:
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means for creating one account associated with the stored value card, wherein the organization sponsor funds the account and the account is independent and unassociated with any other account; and means for issuing the stored value card to a cardholder, wherein; a) the issued stored value card is marked with the cardholder'"'"'s name and at least one of the credit network identification indicia, the issuer identification indicia and the organization sponsor identification indicia; b) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; and c) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A method for issuing a stored value card affiliated with a predetermined credit network, an employer, and an issuer, wherein the credit network, the issuer, and the employer each have separate identification indicia, the method comprising:
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creating one account associated with the stored value card, wherein the employer funds the account on a periodic basis corresponding to the employer'"'"'s payroll cycle, and the account is independent and unassociated with any other account; and issuing the stored value card to an employee, wherein; a) the employer is unable to access transactions associated with the stored value card; b) the stored value card is marked with the employee'"'"'s name and at least one of the credit network identification indicia, the issuer identification indicia, and the employer'"'"'s identification indicia; c) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; and d) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (24, 25, 26, 27, 28)
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29. A system for issuing a stored value card affiliated with a predetermined credit network, an employer and an issuer, wherein the credit network, and the issuer, and the employer each have separate identification indicia, the system comprising:
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means for creating one account associated with the stored value card, wherein the employer funds the account on a periodic basis corresponding to the employer'"'"'s payroll cycle, and the account is independent and unassociated with any other account; and means for issuing the stored value card to an employee, wherein; a) the employer is unable to access transactions associated with the stored value card; b) the stored value card is marked with the employee'"'"'s name and at least one of the credit network identification indicia, the issuer identification indicia and the employer'"'"'s identification indicia; c) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; and d) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (30, 31, 32, 33, 34)
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35. A method for issuing a stored value card affiliated with a predetermined credit network, an employer, and an issuer, the method comprising:
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creating one account associated with the stored value card, wherein the employer funds the account on a periodic basis, and the account is independent and unassociated with any other account; and issuing the stored value card to an employee, wherein; a) the employer is unable to access transactions associated with the stored value card; b) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; c) the employee activates the stored value card; and d) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (36, 37)
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38. A system for issuing a stored value card affiliated with a predetermined credit network, an employer and an issuer, the system comprising:
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means for creating one account associated with the stored value card, wherein the employer funds the account on a periodic basis, and the account is independent and unassociated with any other account; and means for issuing the stored value card to an employee, wherein; a) the employer is unable to access transactions associated with the stored value card; b) the stored value card is accepted wherever cards associated with the predetermined credit network are accepted; c) the employee activates the stored value card; and d) the stored value card uses a one-way only transfer of identification information from the stored value card to the predetermined credit network. - View Dependent Claims (39, 40)
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Specification