System and method for activating or changing the status of an account associated with a prepaid card
US8595074B2 · kind B2 · utility
117Cited by
8References
13Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Jul 14, 2004 |
| Grant date | Nov 26, 2013 |
| Priority date | — |
| Expiry date | May 31, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for activating and funding prepaid cards at the point of sale by making innovative use of existing point-of-sale devices and existing credit/debit card acceptance networks and processes. The invention obviates the need to implement new/different technology at point-of-sale terminals that are widely used at retail outlets. This invention makes use of the existing credit and charge card systems and processes, including industry standard message formats, to settle funds and fees between the seller and the issuer of the prepaid card, thus further reducing the expense and time-to-market for product distribution.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.