Private label promotion card system, program product, and associated computer-implemented methods
US8244611B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 18, 2008 |
| Grant date | Aug 14, 2012 |
| Priority date | — |
| Expiry date | Sep 14, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0603
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments of the present invention provide a private label promotion card as a bank product, being issued and managed by the bank and using an open payment network for purchase authorization and payments. A bank computer processes activation information for a promotion card. The bank computer then authorizes purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network and transfers funds to the open payment network to satisfy the authorized consumer purchase. Next, the bank computer receives funds on behalf of the retailer for payment responsive to consumer purchases using the one or more promotion cards as payment and payment for a value remaining on the one or more promotion cards responsive to an expiration of the one or more promotion cards, perhaps at a discount to a customer value of the promotion card.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.