Spending vehicles for payments
US8326711B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Feb 23, 2010 |
| Grant date | Dec 4, 2012 |
| Priority date | — |
| Expiry date | Jul 8, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for associating payments with spending vehicles so that an individual who is entitled to receive periodic or special payments such as social security checks receives in place of the payment a spending vehicle such as a discount card, rebate, or coupon for use with purchases of the sponsor's products or services. Sponsors include companies and organizations interested in offering purchase incentives to their customers. An individual who wishes to receive a spending vehicle rather than the regular payment selects the spending vehicle he or she would like to receive. The individual then assigns his or her right to receive the payment to a third party. The third party then arranges to give a spending vehicle to the individual and to transfer the individual's payment to the sponsor of the spending vehicle. The third party may take a portion of the payment as compensation for the service.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.