Systems and methods for managing prepaid cards in a digital wallet, including transferring value from prepaid cards and managing user selected accounts

US11423371B2 · kind B2 · utility

Assignee

• Raise Marketplace, LLC · US

Inventors

• Trevor Filter · New York, US
• Anthony Winslow · New York, US
• Michael Morris · New York, US

Key dates

• Filing date: Jun 25, 2015
• Grant date: Aug 23, 2022
• Expiry date: Jul 21, 2037

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Disclosed are the methods and systems for transferring value from as first account to a second account via a consumer device. The methods may be consumer or merchant driven and may involve transferring value to peers, oneself, or a third party account holder with or without the creation of a user account. Based on information input by a user, various financial systems interact in a manner that results in creation of an escrow account and effectuates transfer of value from a funding account through that escrow account to a receiving account. Such novel methods allow for previously unavailable transfers of value. In certain embodiments, the methods and systems also encompass creation of a digital equivalent of the value and using the digital equivalent to make payments at as point of service.