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

• US 8,005,756 B2
• Filed: 08/16/2010
• Issued: 08/23/2011
• Est. Priority Date: 06/22/1998
• Status: Expired due to Fees

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (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:
  US12/857,166
• Publication Number:
  US 20100312699A1
• Time in Patent Office: 372 Days
• Field of Search: 705/35, 705/41, 705/44
• 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 method for processing a stored value card over a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the card is provided to the recipient, the card is marked with the recipient'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account, wherein the recipient is an individual;

prompting the recipient to provide predetermined card information and verification information over the computer network to activate the stored value card;

verifying the predetermined card information and verification information using at least one computer processor and generating verification results; and

notifying a purchaser of the stored value card of the verification results, wherein the purchaser is different than the recipient.

2. The method of claim 1, wherein the computer network is the Internet.

3. The method of claim 1 further comprising:

determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

4. The method of claim 1 further comprising:

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.

5. A method of activating a stored value account through a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the stored value card is provided to the recipient, the stored value card is marked with the recipient'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account wherein the initial value is provided by a purchaser, wherein the purchaser is different from the recipient;

providing the recipient an ability to activate the stored value card over the computer network;

prompting the recipient to provide predetermined card information and verification information to the computer network;

verifying the predetermined card information and verification information using at least one computer processor and generating verification results by the computer processor;

notifying the purchaser of the stored value card of the results; and

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.

6. The method of claim 5 further comprising:

determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

7. A method for processing a stored value card over a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the card is provided to the recipient, the card is marked with the recipient'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account, wherein the recipient is an individual;

prompting the recipient to provide predetermined card information and verification information over the computer network to activate the stored value card; and

verifying the predetermined card information and verification information using at least one computer processor and generating verification results; and

notifying a purchaser of the stored value card of the processing results, wherein the purchaser is different than the recipient.

8. The method of claim 7, wherein the computer network is the Internet.

9. A method of activating a stored value account through a computer network comprising:

receiving notification that a recipient has received a stored value card, wherein;

(1) before the stored value card is provided to the recipient, the stored value card is marked with the recipient'"'"'s name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account wherein the initial value is provided by a purchaser, wherein the purchaser is different from the recipient;

providing the recipient an ability to activate the stored value card over the computer network;

prompting the recipient to provide predetermined card information and verification information to the computer network;

verifying the predetermined card information and verification information using at least one computer processor and generating verification results by the computer processor;

notifying a purchaser of the stored value card of the results;

processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient; and

determining by a computer processor whether the purchaser has sufficient funds in a card-based account of the purchaser to pay for the stored value card.

10. The method of claim 9, wherein the computer network is the Internet.

11. A computer implemented method for creating and activating a purchase card account, comprising:

providing an offer to purchase the purchase card comprising publishing the offer over a computer network;

receiving, by at least one computer processor, a request from an individual to purchase the purchase card;

creating, by at least one computer processor, in a computer database, an independent and separate purchase card account, comprising a purchase card account number;

associating the independent and separate purchase card account with the purchase card;

marking the purchase card with an identifier associated with the individual, an expiration date, the purchase card account number, and a transaction network identification indicia associated with a predetermined transaction network such that the purchase card is capable of being used for payment for goods and services wherever cards associated the predetermined transaction network are capable of being used;

providing the purchase card to the individual;

receiving notification that the individual has received the purchase card,

prompting the individual to provide predetermined purchase card information and verification information over the computer network to activate the purchase card;

verifying the predetermined card information and verification information a using at least one computer processor and generating verification results;

activating, by at least one computer processor, the purchase card account after generation of the verification results;

loading the independent and separate purchase card account with an initial value amount by transferring funds associated with the initial value amount into the independent and separate purchase card account and storing the funds in the independent and separate purchase card account for later use by the individual;

reloading, by at least one computer processor, the independent and separate purchase card account upon receiving a reload request from the individual; and

providing electronic access to account activity associated with the independent and separate purchase card account.

12. The method of claim 11, further comprising:

determining, by a computer processor, whether the individual has sufficient funds in a card-based account of the individual to pay for the purchase card.

13. The method of claim 11, wherein the computer network is the Internet.

14. The method of claim 11, wherein the identifier associated with the individual comprises the individual'"'"'s name.

15. The method of claim 11, wherein the purchase card is only usable if the independent and separate purchase card account has a positive balance.