Private label promotion card system, program product, and associated computer-implemented methods
US8306912B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 18, 2008 |
| Grant date | Nov 6, 2012 |
| Priority date | — |
| Expiry date | Sep 27, 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 and receives finds into an account at the bank on behalf of a retailer for payment for the promotion card, perhaps at a discount to a customer value of the promotion card. The bank computer 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. Upon expiration, the bank computer sweeps the account of the remaining value for expired promotion cards to thereby establish a credit for the bank.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.