Stored-value card value acquisition method and apparatus
US6295522A · kind A · utility
Assignee
Inventor
Key dates
| Filing date | Jul 11, 1997 |
| Grant date | Sep 25, 2001 |
| Priority date | — |
| Expiry date | Jul 11, 2017 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/0866
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for the use of stored value cards when either a consumer or a merchant does not possess a stored value card. A consumer value acquirer receives funds from the bank account of a given consumer. The consumer value acquirer also has a pool of stored value cards that are not assigned to any specific consumer but which are used on behalf of consumers wishing to purchase goods or services via stored value card transaction. The consumer value acquirer acts as a proxy for the consumer and uses one of the pool of stored value cards on behalf of the consumer in a transaction with a merchant that uses stored value cards. Once funds stored value card funds are transferred to the merchant during a transaction, the consumer account with the consumer value acquirer is debited the amount of the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.