Financial instrument having credit and pre-paid characteristics
US8751376B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Sep 15, 2009 |
| Grant date | Jun 10, 2014 |
| Priority date | — |
| Expiry date | Dec 18, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/405
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments of the present invention provide for methods and systems for providing a financial instrument that possesses both credit features (secured and unsecured) and prepaid features. When a purchase is made using a financial instrument linked to an account, funds are first drawn from a line of credit until a credit limit is reached. Any additional funds required to make the purchase are then drawn from a secured account, such as a prepaid cash balance. In some embodiments, the additional funds are automatically drawn form the prepaid cash balance while in other embodiments an account holder manually transfers funds from the prepaid cash balance to the credit balance.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.