System and method for providing instant-decision, financial network-based payment cards
First Claim
1. A computer-implemented method for activating a payment card, comprising the steps of:
- receiving personal data associated with an applicant from a handheld electronic device located at a first site;
determining, at a decision system, whether to issue the payment card based on information comprising the personal data and financial information associated with the applicant;
encoding a payment card with the unique identifying information, responsive to a determination to issue the payment card to the applicant;
activating the payment card for use in a limited geographic area comprising the first site; and
transmitting a result of the determination to issue the payment card by the decision system to the handheld electronic device.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method for issuance of a financial network-based payment card (generally known as a “payment card” or a “credit card”) almost instantaneously after application, wherein an applicant applies for a credit card by entering data into a data entry system using a handheld electronic device, advantageously by filling in a plurality of predefined forms in a computer-based data entry system. The applicant'"'"'s data is sent via a data network to a central decision center, which approves or disapproves the application. If the application is approved, data is generated, a payment card is activated, and a result of the determination to issue is sent to the handheld electronic device.
207 Citations
20 Claims
-
1. A computer-implemented method for activating a payment card, comprising the steps of:
-
receiving personal data associated with an applicant from a handheld electronic device located at a first site; determining, at a decision system, whether to issue the payment card based on information comprising the personal data and financial information associated with the applicant; encoding a payment card with the unique identifying information, responsive to a determination to issue the payment card to the applicant; activating the payment card for use in a limited geographic area comprising the first site; and transmitting a result of the determination to issue the payment card by the decision system to the handheld electronic device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
-
-
11. A system for activating a payment card accepted by one or more financial networks, the system comprising:
-
a decision computer system configured to; receive personal data associated with an applicant from a handheld electronic device located at a first site; determine whether to issue the payment card based on information comprising the personal data and financial information associated with the applicant;
encode a payment card with the unique identifying information, responsive to a determination to issue the payment card to the applicant;activate the payment card for use in a limited geographic area comprising the first site; and transmit a result of the determination to issue the payment card by the decision system to the handheld electronic device. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
-
Specification