Method for obtaining a balance and withdrawing funds from a prepaid access device by law enforcement
US8881976B1 · kind B1 · utility
Inventor
Key dates
| Filing date | Feb 1, 2013 |
| Grant date | Nov 11, 2014 |
| Priority date | — |
| Expiry date | May 16, 2033 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/26
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method is disclosed for use by law enforcement for obtaining a balance and seizing funds from prepaid access devices using existing clearing and settlement networks for open loop branded bank cards and closed loop private label cards. A payment terminal has a scanner for reading indicia from the prepaid access devices. A merchant identity is used for cloaking the identity of law enforcement. A balance inquiry instruction is forwarded to an issuing processor, which polls an issuing financial institution for the balance of the funds available in an associated account. An encumbering instruction is then forwarded to the issuing processor and the issuing financial institution, which includes at least one of a seize instruction and a freeze instruction. A claiming instruction is then forwarded to the issuing financial institution to forward the balance of the funds from the associated account to a law enforcement account.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.