U.S. patent application number 17/732931 was filed with the patent office on 2022-08-11 for systems and methods for securely generating digital gift cards.
This patent application is currently assigned to Raise Marketplace, LLC. The applicant listed for this patent is Raise Marketplace, LLC. Invention is credited to Trevor Filter, Michael Morris, Anthony Winslow.
Application Number | 20220253816 17/732931 |
Document ID | / |
Family ID | |
Filed Date | 2022-08-11 |
United States Patent
Application |
20220253816 |
Kind Code |
A1 |
Filter; Trevor ; et
al. |
August 11, 2022 |
SYSTEMS AND METHODS FOR SECURELY GENERATING DIGITAL GIFT CARDS
Abstract
A method includes accessing a swap service operating on a
consumer device and authenticating a user of the consumer device
based on biometric information linked to a unique user
identification code that is further associated with contact
information regarding the user. The method further includes
retrieving, from storage, the contact information regarding the
user. The method further includes automatically populating first
fields of the swap service with the contact information. The method
further includes generating, for utilization during a transaction
by the swap service, a request for inputting first account
information. The method further includes receiving a selection for
the inputting and when selection is the scanning: displaying a
scanner for obtaining, from a gift card, a digital representation
of the first account information, encoding the first account
information into a digital equivalent of the gift card, and storing
the digital equivalent of the gift card in memory.
Inventors: |
Filter; Trevor; (New York,
NY) ; Winslow; Anthony; (Brooklyn, NY) ;
Morris; Michael; (New York, NY) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Raise Marketplace, LLC |
Chicago |
IL |
US |
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|
Assignee: |
Raise Marketplace, LLC
Chicago
IL
|
Appl. No.: |
17/732931 |
Filed: |
April 29, 2022 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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14750823 |
Jun 25, 2015 |
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17732931 |
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14474228 |
Sep 1, 2014 |
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14750823 |
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61959873 |
Sep 4, 2013 |
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International
Class: |
G06Q 20/10 20060101
G06Q020/10; G06Q 20/36 20060101 G06Q020/36; G06Q 40/02 20060101
G06Q040/02; G06Q 20/06 20060101 G06Q020/06; G06Q 20/40 20060101
G06Q020/40; G06Q 20/02 20060101 G06Q020/02; G06Q 20/34 20060101
G06Q020/34; G06Q 30/02 20060101 G06Q030/02; G06Q 20/22 20060101
G06Q020/22 |
Claims
1. A method comprising: accessing a swap service operating on a
consumer device, wherein the swap service is configured to perform:
authenticating a user of the consumer device based on biometric
information of the user, wherein the biometric information is
linked to a unique user identification code, and wherein the unique
user identification code is associated with contact information
regarding the user; retrieving, from storage, the contact
information regarding the user based on the unique user
identification code; automatically populating first fields of the
swap service with at least some of the contact information;
generating, for utilization during a transaction by the swap
service, a request for first account information on a display of
the consumer device, wherein the first account information is
associated with a gift card, and wherein the request includes a
prompt for the user of the consumer device to select inputting the
first account information by one of (i) manually by the user, or
(ii) scanning by the consumer device; receiving a selection for the
inputting; and when selection is the scanning: displaying a scanner
for obtaining, from the gift card, a digital representation of the
first account information; obtaining the digital representation of
the first account information via the scanner; determining the
first account information is valid; in response to determining the
first account information is valid, encoding the first account
information into a digital equivalent of the gift card; and storing
the digital equivalent of the gift card in memory associated with
the consumer device.
2. The method of claim 1 further comprises: obtaining second
account information regarding a second account, wherein the second
account is one of: a bank account, a credit card account, a debit
card account, an open loop card account, a closed loop card
account, a brokerage account, and a crypto currency account.
3. The method of claim 2, wherein the second account information is
inputted by one or more of: voice commands, extraction of
information from a photo or video using optical character
recognition, via near field communication, via Bluetooth low
energy, and via a radio frequency identification (RFID)
communication.
4. The method of claim 1, wherein when the selection is the
manually by the user, generating for display on the display, a
keyboard and input fields for receiving the first account
information.
5. The method of claim 1 further comprises: monitoring for a
triggering event; and when the triggering event is detected:
obtaining a merchant identification code that uniquely identifies a
merchant; obtaining the contact information associated with the
user from the memory; and sending the contact information to a
merchant computer associated with the merchant to facilitate
correspondence from the merchant computer, wherein the
correspondence is one or more of: a coupon, an offer of a discount,
a reminder to use a remaining card balance associated with the gift
card, and a notification of nearby merchant locations associated
with the merchant computer where the gift card is redeemable.
6. The method of claim 5, wherein the triggering event includes one
or more of: a geographic location of the consumer device; an
ongoing transaction associated with the gift card; a reloading of
the gift card; and accessing of a gift card account regarding the
gift card.
7. The method of claim 5, wherein the correspondence further
comprises: an incentive for transferring value via the swap
service; an offer to transfer gift card to another user; an offer
to transfer gift card to multiple other users; an offer to donate
remaining balance of gift card to a charity; and an offer to
purchase another gift card.
8. The method of claim 1, wherein the biometric information
comprises one or more of: a fingerprint; a handprint; facial
recognition; an iris scan; and a retina scan.
9. The method of claim 1 further comprises: generating, for
utilization during the transaction by the swap service, a request
for second account information on the touch screen of the consumer
device, wherein the second account is associated with a second gift
card, and wherein the request includes a second prompt for the user
of the consumer device to select inputting the second account
information by one of (i) manually by the user, or (ii) scanning by
the consumer device; receiving a second selection for the
inputting; and when selection is the scanning: displaying the
scanner for obtaining, from the second gift card, a second digital
representation of the second account information; obtaining the
second digital representation of the second account information via
the scanner; determining the second account information is valid;
in response to determining the second account information is valid,
encoding the second account information into a second digital
equivalent of the second gift card; and storing the second digital
equivalent of the second gift card in memory associated with the
consumer device.
10. The method of claim 1 further comprises: generating, for
utilization during a transaction by the swap service, a request for
second account information on the display of the consumer device;
receiving an identification of the second account information; when
the second account information is associated with the user,
retrieving the contact information from a cache of the consumer
device; and automatically populating second fields of the swap
service with at least some of the contact information.
11. A non-transitory computer readable memory comprising: computer
code that directs a swap service operating on a consumer device to
perform: authenticating a user of the consumer device based on
biometric information of the user, wherein the biometric
information is linked to a unique user identification code, and
wherein the unique user identification code is associated with
contact information regarding the user; retrieving, from storage,
the contact information regarding the user based on the unique user
identification code; automatically populating first fields of the
swap service with at least some of the contact information;
generating, for utilization during a transaction by the swap
service, a request for first account information on a display of
the consumer device, wherein the first account information is
associated with a gift card, and wherein the request includes a
prompt for the user of the consumer device to select inputting the
first account information by one of (i) manually by the user, or
(ii) scanning by the consumer device; receiving a selection for the
inputting; and when selection is the scanning: displaying a scanner
for obtaining, from the gift card, a digital representation of the
first account information; obtaining the digital representation of
the first account information via the scanner; determining the
first account information is valid; in response to determining the
first account information is valid, encoding the first account
information into a digital equivalent of the gift card; and storing
the digital equivalent of the gift card in memory associated with
the consumer device.
12. The non-transitory computer readable memory of claim 11,
wherein the computer code directs the swap service operating on the
consumer device to further perform: obtaining second account
information regarding a second account, wherein the second account
is one of: a bank account, a credit card account, a debit card
account, an open loop card account, a closed loop card account, a
brokerage account, and a crypto currency account.
13. The non-transitory computer readable memory of claim 12,
wherein the second account information is inputted by one or more
of: voice commands, extraction of information from a photo or video
using optical character recognition, via near field communication,
via Bluetooth low energy, and via a radio frequency identification
(RFID) communication.
14. The non-transitory computer readable memory of claim 11,
wherein when the selection is the manually by the user, the
computer code directs the swap service operating on the consumer
device to further perform generating for display on the display, a
keyboard and input fields for receiving the first account
information.
15. The non-transitory computer readable memory of claim 11,
wherein the computer code directs the swap service operating on the
consumer device to further perform: monitoring for a triggering
event; and when the triggering event is detected: obtaining a
merchant identification code that uniquely identifies a merchant;
obtaining the contact information associated with the user from the
memory; and sending the contact information to a merchant computer
associated with the merchant to facilitate correspondence from the
merchant computer, wherein the correspondence is one or more of: a
coupon, an offer of a discount, a reminder to use a remaining card
balance associated with the gift card, and a notification of nearby
merchant locations associated with the merchant computer where the
gift card is redeemable.
16. The non-transitory computer readable memory of claim 15,
wherein the triggering event includes one or more of: a geographic
location of the consumer device; an ongoing transaction associated
with the gift card; a reloading of the gift card; and accessing of
a gift card account regarding the gift card.
17. The non-transitory computer readable memory of claim 15,
wherein the correspondence further comprises: an incentive for
transferring value via the swap service; an offer to transfer gift
card to another user; an offer to transfer gift card to multiple
other users; an offer to donate remaining balance of gift card to a
charity; and an offer to purchase another gift card.
18. The non-transitory computer readable memory of claim 11,
wherein the biometric information comprises one or more of: a
fingerprint; a handprint; facial recognition; an iris scan; and a
retina scan.
19. The non-transitory computer readable memory of claim 11,
wherein the computer code directs the swap service further to
perform: generating, for utilization during the transaction by the
swap service, a request for second account information on the touch
screen of the consumer device, wherein the second account is
associated with a second gift card, and wherein the request
includes a second prompt for the user of the consumer device to
select inputting the second account information by one of (i)
manually by the user, or (ii) scanning by the consumer device;
receiving a second selection for the inputting; and when selection
is the scanning: displaying the scanner for obtaining, from the
second gift card, a second digital representation of the second
account information; obtaining the second digital representation of
the second account information via the scanner; determining the
second account information is valid; in response to determining the
second account information is valid, encoding the second account
information into a second digital equivalent of the second gift
card; and storing the second digital equivalent of the second gift
card in memory associated with the consumer device.
20. The non-transitory computer readable memory of claim 11,
wherein the computer code directs the swap service further to
perform: generating, for utilization during a transaction by the
swap service, a request for second account information on the
display of the consumer device; receiving an identification of the
second account information; when the second account information is
associated with the user, retrieving the contact information from a
cache of the consumer device; and automatically populating second
fields of the swap service with at least some of the contact
information.
Description
CROSS REFERENCE TO RELATED APPLICATIONS
[0001] The present U.S. Utility Patent Application claims priority
pursuant to 35 U.S.C. .sctn. 120 as a continuation of U.S. Utility
application Ser. No. 14/750,823, entitled "SYSTEMS AND METHODS FOR
MANAGING PREPAID CARDS IN A DIGITAL WALLET, INCLUDING TRANSFERRING
VALUE FROM PREPAID CARDS AND MANAGING USER SELECTED ACCOUNTS",
filed Jun. 25, 2015, allowed, which is a continuation in part of
U.S. Utility patent application Ser. No. 14/474,228, entitled
"SYSTEMS AND METHODS FOR TRANSFERRING VALUE TO AND MANAGING USER
SELECTED ACCOUNTS", filed Sep. 1, 2014, allowed, which claims
priority pursuant to 35 U.S.C. .sctn. 119(e) to U.S. Provisional
Patent Application Ser. No. 61/959,873, entitled "SYSTEM AND
METHODS FOR TRANSFERRING VALUE TO AND MANAGING USER SELECTED
ACCOUNTS", filed Sep. 4, 2013, expired, all of which are hereby
incorporated herein by reference in their entirety and made part of
the present U.S. Utility Patent Application for all purposes.
FIELD OF INVENTION
[0002] The present invention generally relates to computer systems
and methods for transferring value from one account to another
account. Specifically, the present invention relates to computer
systems and methods for transferring stored value from checking or
savings accounts, credit cards, debit cards, gift cards, and
network-branded, open-loop, closed-loop, merchant-branded, or
general purpose prepaid cards, both re-loadable and non-loadable,
to other accounts, including, but not limited to checking or
savings accounts, debit or credit card accounts, PayPal, Amazon
Payments, Venmo, online stored value accounts, brokerage accounts,
reloadable cards, digital marketplaces for the sale or purchase of
digital gift cards or prepaid cards, or digital wallets for other
users.
BACKGROUND OF THE INVENTION
[0003] Often, it would be desirable to transfer value from one or
more accounts to another account. For example, the user may wish to
transfer money from a gift card to a savings or checking account.
In this way, the value of the funding card can be available in the
account and may be spent as cash using a debit card, withdrawn as
cash using an ATM card, or used to fund a personal check written
against the account. In another example, the user may wish to
transfer value from a credit card account to a bank account. A user
also may wish to transfer money from a gift card or prepaid card to
a credit card account, thus reducing the outstanding balance due on
the account, or any outstanding balance (charge, revalue, lending
on charge, late fees etc.) on the receiving end. A user may wish to
transfer funds between more than two individuals; for example, User
1 and User 2 elect to transfer value simultaneously in an in-person
context to User 3 in the form of one fluid action where the
transfer amount is divided between the individuals to send funds,
in this case User 1 and User 2. A user may wish to allow another
individual to purchase or use the balance available on a gift card
or prepaid card; for example, User 1 makes available to User 2
within a digital marketplace the balance on a gift card or prepaid
card, and User 2 may elect to have that balance transferred from
the digital marketplace to User 2's digital wallet. In another
example, a user may wish to transfer value in the form of a loan.
Systems and methods for facilitating such aforementioned transfers
are highly desirable
[0004] Systems and methods for facilitating a transfer as described
herein are also desirable to and benefit the various parties
involved in managing and administering these types of accounts,
including, but not limited to, card issuers, program
administrators, sponsors, payment networks, payment processors and
merchants who enable gift card programs for retail. As one example,
escheatment regulation effected in many states across the United
States entitles local governments to lay claim to some or all of
the residual value in stored value accounts that become inactive
for some period of time, and prevents the aforementioned parties
from earning their full share of revenue. Conversely, the systems
and methods for facilitating a transfer as outlined here not only
provide some measure of guaranteed revenue to the aforementioned
parties, but also a vehicle to interact with the users of these
accounts that may not be available otherwise, particularly in the
case of an anonymous stored value account such as an open-loop gift
or closed-loop prepaid card.
[0005] One existing method of making payments is PayPal. PayPal is
directed primarily at Internet sales and purchasing. This service
allows transfers using a credit or debit card, cash or check.
However, transfers must be made to on-line accounts that the users
have created through the PayPal system. Thus, it requires signing
up for and verification of amounts using the PayPal system and
transferring funds through the PayPal system prior to transfer to
the desired account or availability to the user. Additionally,
PayPal does not permit parties involved in managing and
administering stored value accounts to interact with consumers
through the PayPal system because they may not participate without
permission by setting up a PayPal account, and even so are limited
in interactions with consumers.
[0006] The existing technology for payments does not allow users to
quickly transfer value from one or more accounts to another account
in their own name unless all accounts reside within the same
financial institution, thereby creating a business challenge that
is particular to the banking and financial services worlds.
Technology exists to load value onto prepaid cards, but not off
such cards. Accordingly, there remains a continuing need for a
method that allows users to transfer value from one or more
accounts to other user-selected accounts.
BRIEF DESCRIPTION OF THE DRAWINGS
[0007] The accompanying drawing figures incorporated in and forming
a part of this specification illustrate several aspects of the
invention and together with the description serve to explain the
principles of the invention.
[0008] FIG. 1 illustrates a system for transferring value from a
funding account to a receiving account according to embodiments of
the present invention.
[0009] FIG. 2A is a flow diagram of a routine for inputting and
submitting a transfer request according to one embodiment of the
present invention.
[0010] FIG. 2B is a flow diagram of a routine for submitting and
completing a user requested transfer of value according to one
embodiment of the invention.
[0011] FIGS. 3A-3I illustrate exemplary screen shots for the swap
service according to one embodiment of the invention.
[0012] FIG. 4 shows a wireframe diagram depicting operation of the
user side of the swap service in accordance with one embodiment of
the invention.
[0013] FIG. 5 is a flow diagram of a routine for retrieving the
balances of the user's prepaid cards.
[0014] FIG. 6 is a flow diagram of a routine for creating a digital
equivalent of a card.
[0015] FIG. 7 is a flow diagram of a routine for a method of using
a digital equivalent for payment.
[0016] FIG. 8 is a flow diagram of a routine for a method of
facilitating interaction between a merchant and user.
SUMMARY OF THE INVENTION
[0017] The following presents a brief summary of the innovation in
order to provide a basic understanding of the aspects of the
innovation. This summary is not an extended overview and is not
intended to cover each and every element of the innovation or to
limit its scope. A more detailed description is presented
later.
[0018] The innovation disclosed and claimed herein relates to
methods, systems and computer readable storage media that allow
transferring value from one account to another. The methods may be
consumer or merchant driven and may involve transferring value to
peers, oneself, or a third party account holder with or without the
creation of a user account. For example, in one aspect, value is
transferred from a first account to a second account using a
consumer device by accessing a swap service through a consumer
device that is communicatively linked to a remote system, said
remote system communicatively linked to a transfer network,
requesting funding transaction information including at least the
identity of a funding account and a transaction amount from a user
through a first user interface displayed by the consumer device,
accepting the funding transaction information input through the
first user interface, establishing an escrow account with a
financial affiliate and issuing an escrow account identification
code, submitting the funding transaction information and the escrow
account identification and an authorization code to the funding
account issuer system as a submission, receiving a submission
payment in the amount of the transaction amount from the funding
account issuer system into the escrow account, determining a
transfer amount based on the funding transaction information,
requesting receiving account information including at least the
identity of the receiving account from a user through a second user
interface, accepting the receiving account information input
through the second user interface, providing transfer instructions
including at least the receiving account information and the
transfer amount and escrow account identification code to the
receiving account issuer system causing a transfer of value to the
receiving account. In addition, the requested transfer may be
completed through an automated clearing house (ACH) transfer from a
financial institution that issues the funding account directly to
the financial affiliate.
[0019] In one aspect, the funding account may be a checking
account, a savings account, a brokerage account, an open loop card
account, a closed loop card account, a debit card, a prepaid card,
a debit card account, a credit card account, a gift card, a cash
card, a check card, a prepaid credit card, a merchant-branded
stored value account, a stored value card, a stored value
certificate, a payroll card, (for cards such as gift cards or
prepaid cards, it may be either a physical card or a digital
equivalent), while the receiving account may be a bank account, a
credit card account, a debit card account, a brokerage account, a
debit card account, open loop card account, closed loop card
account, a brokerage account, PayPal account, crypto currency
account, a merchant-branded stored value account or other stored
value account or certificate. In another aspect, the funding
account information or receiving account information, or both, is
input by voice commands, extraction of information from a photo or
video using optical character recognition or radio frequency
identification (RFID), or a combination of the methods.
[0020] In another aspect, the transfer is completed through an
automated clearing house (ACH), the funding account issuer's
BillPay service, an intra-bank transfer, an automated teller
machine (ATM) network, a crypto-currency service, or through
another stored value network or service. In other aspects, the
transfer may be completed through the conversion of the net
transfer amount into loyalty points in a third party system based
on a conversion factor associated with a difference in net transfer
amount and an assigned second value of said loyalty points, and
creating, by said remote system, said net transfer amount to said
third party; through a virtual wallet established by radio
frequency identification (RFID); through near field communication
(NFC), through Bluetooth low energy (BLE), through a wireless
network, through a personal area network (PAN), or other computer
network. In one aspect, the user is identified using biometric
information.
[0021] In one aspect, the innovation allows transfer of value for
servicing a loan agreement by inputting loan terms including at
least a loan amount, an interest rate, a payment schedule and a
late fee schedule through a user interface displayed by the
consumer device. In another aspect, the method also includes
inputting user data points through a user interface displayed by a
consumer device, submitting said data points to a third party
service to validate the user's identity, submitting said data
points to potential lenders to determine an approved loan amount,
and presenting the user with an approved loan amount, any fees that
are associated with the loan, and instructions for the application
of fees and interest upon the expiration of the loan term.
[0022] In another aspect, the innovation allows for the creation of
a digital equivalent representing the information and value on a
card. The service transmits the funding account information to an
aggregator service for validation, receives validation of card
information, and encodes the card information. The digital
equivalent may be used as a form of payment. In one aspect, this
occurs by generation of a barcode that is scanned at the point of
service for payment. In another aspect, the card information is
transmitted for use in payment by, for example, radio frequency
identification (RFID), near field communication (NFC), Bluetooth
low energy (BLE), wireless network, personal area network (PAN),
other computer network, or other transmission at point-of-sale. In
another aspect, the service provides the user with notifications
when their mobile device is in a certain proximity to a physical
location where a consumer may use the digital equivalent for
purchases.
[0023] In another aspect, the innovation allows for retrieving
balances on prepaid cards by accessing a swap service through a
consumer device, inputting prepaid card identifying information
through a user interface displayed on the consumer device,
transmitting the prepaid card information to an aggregator service
for balance validation, receiving validation of card information,
transmitting a request for balance information to the aggregator
service, receiving balance information from the aggregator service
and displaying balance information and transaction history to the
user through the user interface. All of the above aspects may be
implemented through computer executable instructions found on a
computer readable storage media.
[0024] The present invention is rooted in computer technology
describing an improvement to system configurations of payment
networks in order to overcome the problems specified herein arising
in the realm of the payment networks supporting the banking and
financial services worlds. Particular illustrations are described
in connection with the following descriptions and the annexed
drawings. These illustrations are indicative, however, of but a few
of the various ways in which the principles of the innovation can
be employed. Other advantages will be readily apparent from the
detailed description that follows. The subject innovation is
intended to include all aspects and equivalents.
DETAILED DESCRIPTION OF THE INVENTION
[0025] The present invention can be better understood from the
following description of preferred embodiments, taken in
conjunction with the accompanying drawings. It should be apparent
to those skilled in the art that the described embodiments of the
present invention provided herein are merely exemplary and
illustrative and not limiting.
[0026] The present invention is directed to a novel and non-obvious
systems and methods for transferring value from a funding account
to a user-selected account and facilitating use of the value of the
funding account. The user-selected account also may be referred to
as a receiving account. Value will most commonly be monetary value.
However, value may be anything of monetary worth that may be
exchanged for goods or services.
[0027] Funding accounts may take various forms in different
embodiments of the invention. In one embodiment, the funding
account is a checking account, savings account, brokerage account
or the like. In another embodiment, it may be a card account.
Examples of such card accounts include, but are not limited to,
debit card accounts, credit card accounts, open-loop prepaid (OLP)
cards or any card that stores value and allows a user to exchange
the value stored on the card for products, goods, services or the
like. A card may be a gift card, cash card, check card, prepaid
credit card, stored value card, payroll card, or the like. A card
may be prepaid or non-prepaid. A card may also be reloadable or
non-reloadable. Receiving accounts may take various forms in
different embodiments of the present invention. Such receiving
accounts may include any account to which value can be transferred.
Such receiving accounts include at least bank accounts, credit card
accounts, brokerage accounts, PayPal accounts, a debit card
account, open loop card account, closed loop card account, a
brokerage account, PayPal account, loyalty and/or rewards accounts,
crypto currency account, or other stored value account, or the
like.
[0028] In accordance with the present invention, transfers and
functionality are facilitated through a swap service. The swap
service facilitates the transfer of funds from one or more accounts
to one or more other accounts and the other functions provided
herein. The swap service provides instructions to a consumer device
and collects transfer information and provides the transfer
information and transfer instructions to the consumer device. The
consumer device communicates the transfer information and transfer
instructions to a remote system that authorizes, settles and funds
the transfer by communicating with appropriate financial networks.
After the transactions are authorized, the swap service acts as a
merchant, charging the funding account for the requested amount.
The requested transfer is then completed through an automated
clearing house (ACH), a funding account issuer's BillPay service,
intra-bank transfer, automated teller machine (ATM) network,
crypto-currency service, or other stored value network or service.
In other embodiments, the transfer may be completed through a
virtual wallet established by radio frequency identification
(RFID), near field communication (NFC), Bluetooth low energy (BLE),
wireless network, personal area network (PAN), or other computer
network.
[0029] In another aspect, the swap service allows for the creation
of a digital equivalent of a gift card or prepaid card for use in a
virtual wallet. Gift card or prepaid card information is input
through the swap service user interface as described elsewhere
herein. Based on that information, the swap service facilitates
validation of the card information by transmitting the gift card or
prepaid card information, including of the amount present on the
card to an aggregator service, issuer of the card or the like for
validation. After receiving validation, the card information is
encoded into a digital equivalent of the gift card which may be
stored on the consumer device. The digital equivalent may take the
form of a bar code that renders on a consumer device and may be
scanned by a bar code scanner, or any number of alternative
renderings of the card information which may be transmitted and
used as a form of payment by means of barcode scanning, radio
frequency identification (RFID), near field communication (NFC),
Bluetooth low energy (BLE), wireless network, personal area network
(PAN), other computer network, or other transmission of card
information at point-of-sale. After a financial transaction is
completed using the digital equivalent, the swap service retrieves
an updated value of the gift card and updates the gift card balance
in the digital wallet and the account of the user of the consumer
device.
[0030] The digital equivalent may also be used in a digital
marketplace where cards or digital equivalents can be exchanged. A
user may wish to list a card or digital equivalent in the digital
wallet for sale or to exchange with another user's card or digital
equivalent. Pertinent information regarding the card or digital
equivalent (with the exclusion of information that would permit
fraud and or improper redemption of the card and/or digital
equivalent) is listed on the marketplace. Upon an agreement between
the two users, the swap service can transfer the digital equivalent
of the card from the seller to the buyer, who can then use the
digital equivalent. In the case of an exchange, the card
information or digital equivalent transaction can be exchanged
between the two users. The transferred information contains all the
information pertinent to enabling a financial transaction with the
corresponding card or digital equivalent. The financial account of
the first user is updated with the value of the second card or
digital equivalent and the financial account of the second user
with the value of the first card or digital equivalent. Upon
completion of the exchange, the listing is removed from the
marketplace.
[0031] In another aspect, the innovation allows for merchants to
derive additional advantages from the transfer of value from their
own stored value accounts by obtaining demographic and use data on
the end-user of a stored value account, opening a line of
communication with the end-user of a stored value account, creating
a two-way cash-in network for the purchase or reload of new or
existing stored value accounts, reducing the risk of fraudulent
activity on existing stored value accounts, and controlling the
presentation of a merchant brand to end-users of stored value
accounts. When a user completes a transfer using the methods
outlined in the present invention from a closed-loop or
merchant-branded stored value account or certificate, various user
details relevant to merchant marketing and operations may be
recorded and shared with the merchant, including but not limited
to, personal responses to survey questions displayed to the user
during the transfer process, the transaction type, transaction
details and parameters, or historical transaction data,
geographical location.
[0032] Optionally, the merchant may send correspondence to the user
through the swap service either during or after a transfer that
results in further engagement or transactions with the merchant on
behalf of the user. Additionally, the merchant may elect to support
transfer into new or existing stored value accounts, with optional
incentives affording to new or existing users for transferring
value via the swap service. Optionally, the merchant may elect to
support a transfer that allows users to re-gift a card to a single
friend or multiple friends, or to use the funds on a gift card to
purchase a gift card and send to a recipient. Additionally, the
merchant may elect to support a transfer that allows users to
donate value from a gift card to a charity. By utilizing the secure
and verified swap service for these transfers instead of a
proprietary system or otherwise, the merchant can reduce the risk
of fraudulent activity as well as the risk that a user's perception
of the brand will be diluted.
[0033] Further to the merchant/user interaction, the swap service
may present contextual prompts and notifications based on
information provided by the user and the merchant that identify
nearby merchants accepting the merchant gift card for payment, as
well as notification provided to users to use a merchant's gift
card when near specific locations where a consumer may use the gift
card or digital equivalent for purchases. Such notification may be
in the form of email, SMS, MIMS, automated phone call, or any other
method that a mobile device may notify the use of the proximity of
an exchange opportunity. Such geofence based alert systems, which
include but are not limited to the systems set forth in U.S. Pat.
No. 8,755, 824, can be readily incorporated into the present
systems by those of skill in the art.
[0034] Using the swap service, two users can easily negotiate and
execute a loan agreement and fund transfers in accordance with the
loan terms. In such an embodiment, User 1, the lender, and User 2,
the borrower, negotiate the terms of a loan. Such terms may include
the loan amount, the number of days until the loan matures and is
due, an interest rate and a late fee schedule. User 1 and User 2
would provide funding account information and receiving account
information in the swap service and initiate the transfer. Based on
the user inputted information, the swap service facilitates
withdrawal of funds equal to the loan principal from the
funding/lending account and places the funds in a bank escrow
account. When the loan payment is due, the receiving/borrowing
account is automatically debited for the loan principal plus
interest and any agreed upon fees. The funds then are transferred
from the escrow account to the receiving/borrowing account. If the
transfer fails the receiving account will be debited again plus a
fee equal to the fee schedule.
[0035] The swap service also may facilitate payday and
instantaneous loans using an instant application process. The user
provides data points such as credit card information, bank account
information, employment and paystub information, and other personal
information through the swap service interface. Based on this
user-provided information, the swap service contacts third party
services such as a social network and validates the user's
identity. Upon a successful application process, the swap service
presents the user with an approved loan amount, the fees that are
associated with the loan, and instructions for the application of
fees and interest upon the expiration of the loan term. Upon the
user's acceptance of the loan amount, associated fees and
instructions, the swap service facilitates transfer of the loan
amount into a user selected account. In most cases, the user would
be able to use the transferred funds instantly but some cases may
require further data validation based on applicable credit rating
policies. After the loan term expires, the swap service will, per
the instructions, facilitate automatic transfer of the loan amount
and any applicable fees and interest from the borrower's account to
an enterprise merchant account. Prior to the transfer, the swap
service may cause an automated servicing e-mail to be sent to the
borrower in advance, reminding the borrower that the repayment will
take place at the agreed upon time and date.
[0036] The swap service also may facilitate lower-than-market cost
cross-market exchanges between users in international markets using
currency reserves. For example, when User 1, based in the United
Kingdom, transfers value in British pounds to User 2, based in the
United States, which results in a converted credit of United States
dollars, the swap service will recognize, based on the home country
in which each user has a linked financial institution account, that
a cross-market transfer is being facilitated. The swap service will
access current exchange rates and disclose the exchange rate and
applicable fees to each user. User 1 can acknowledge the disclosure
and accept the rate and applicable fees. The exchange rate also may
be manually modified if needed or desired and the swap service will
display the difference between the actual market exchange rate and
the modified exchange rate. Upon acceptance of fees and terms, the
swap service facilitates transfer of the funds from User l's
funding account to a merchant account based in that same country,
facilitates transfer of the converted amount to a merchant bank in
User 2's country, and facilitates transfer of the value to User 2's
account. The funds become available for use to User 2 upon
successful transfer.
[0037] The swap service also may function as a payments front-end
and account management tool with a supporting third party bank. In
such an embodiment, the swap service would have access to user bank
accounts and may be used to transfer funds in and out of their
account, access BillPay, use ATMs (after receiving an associated
card) as well as utilize the core swap services (prepaid transfer,
credit card transfer, currency transfer, payday loans, peer to peer
loans). Users would be able to order (via mail) or pick up in-store
their own card but also may receive inactive, unassigned cards or
be given an electronic payment instrument. The inactive, unassigned
cards may be activated in real-time using a phone or computer and
handed over to another user. The account may be set up as a
sub-account of the primary swap service account holder (User 1),
and may be given to a sub-account holder (User 2). The account may
also be set up as a new account that is separate from the User 1's
account. User 2's activity may be visible or invisible to the
primary account holder (depending on the desired configuration) and
User 2 could access and manage their sub-account through the same
swap service interface, personalized for User 2. User 1 and User 2
may also transfer funds back-and-forth between their accounts. At
any juncture, the primary account holder can electronically (by
electronic transfer of stored value on the card to another
individual) or manually (by handing over the card to a new user)
designate another user or individual as the new primary account
holder, allowing the value of these cards to transfer fluidly at
the discretion of the individual who owns the card and associated
stored value at any given time.
[0038] The swap service also may offer an application and web
browser experience that allows users to send a financial gift
electronically to another individual of their choice. In this case,
User A (sender) select the denomination they wish to gift to
another user, User B (receiver). User A will fill out personal
information fields for KYC validation and select a funding source
(open loop prepaid card, credit card, debit card, PayPal, bank
account). Then, User A populates basic information fields allowing
the swap service to identify User B, including their first name,
last name, and e-mail address. After User A completes the sending
action by finalizing the sending amount, User A's funding account
is authorized and charged, and funds transfer from the sender's
account into a special purpose account run by the swap service,
awaiting claim from User B. Next, User B accesses their swap
service financial gift via the electronic link provided in an
e-mail notification sent by the swap service. User B will fill out
personal information fields for KYC validation and select an
account in which to receive funds (e.g., credit card or bank
account). After final confirmation of User B's desire to receive
the funds, the funds residing in the special purpose account
transfer to User B's designated receiving account. User A receives
a trigger electronic notification that the gift has been officially
redeemed by User B.
[0039] The swap service also may provide the user with balance
information for the user's prepaid cards. The swap service stores
uniform resource locators (URLs) for checking balances for prepaid
cards from certain issuers (such as Vanilla or American Express).
The swap service then uses user inputted data (credit card number,
expiration, card identification (CID) number) to crawl card issuer
web pages and retrieves balance information based on the user
inputted information. The swap service also may use the user
submitted and retrieved information to auto populate fields within
the swap service and display card balance when the user is entering
a transfer amount within the swap service.
[0040] The consumer device may take several forms and may be any
device that is capable of communicating information to the remote
system. In one embodiment the consumer device is a mobile device
such as a phone, personal digital assistant (PDA), tablet, or the
like. In another embodiment, the consumer device is a personal
computer such as a laptop computer or desktop computer. In another
embodiment the consumer device is an Apple iPhone or phone running
the Android operating system. In various embodiments, the swap
service may be an application or program installed on the consumer
device. In other embodiments, the swap service may be a remotely
stored application or program that displays on the consumer device.
In another embodiment, the swap service is accessed through the web
browser of the consumer device.
[0041] In various embodiments, the remote system may include a
server computer and a transaction processor. Some or all of these
may be part of third party systems. For example, BancBox and
VisaNet offer third party systems that communicate with financial
networks and systems and financial affiliates for processing,
settling and funding the transactions provided herein according to
instructions provided by the swap service via the consumer device.
Application program interfaces (APIs), software development kits
and code for communicating with such third party systems are
available and known in the art for a variety of computer
languages.
[0042] In some embodiments of the invention, a user can be
identified using biometric information. Such biometric information
may include, for example, fingerprints, handprints, voice
recognition, facial recognition, iris or retina scans, or any other
factor that is personally unique. The biometric information may be
used to authenticate the user of the swap service. In addition, the
biometric information may be linked to a unique user identification
code that is linked to the user's information. This will add an
additional layer of security to the swap service. Systems and
methods for biometric recognition are known in the art. Examples of
such methods and systems can be found, for example, in U.S. Pat.
Nos. 8,260,008, 8,275,175, U.S. Patent App. No. 2013/0129162, EP
0976087 and the references cited therein, the disclosures of which
are hereby incorporated herein by reference in their entirety.
Software development kits (SDKs) for integrating biometric
identification recognition systems into the local systems of the
present invention are available in the art.
[0043] In some embodiments, instructions for carrying out the
various steps of the transfer process may be in the form of
computer-executable instructions stored on a computer readable
medium. The consumer device may contain a computer readable medium
that contains instructions to direct the consumer device to perform
the methods of the present invention. For example, the computer
readable medium may contain computer code that instructs the
consumer device to launch the swap service from the memory of the
consumer device. In addition, the computer readable medium may
include instructions for the consumer device to prompt the user to
provide transfer information, instruction for the consumer device
to provide a scanner for inputting card information, or
instructions for the consumer device to submit information to the
remote system.
[0044] In some embodiments, the computer-executable instructions
are stored on a computer readable medium installed on the local
system such as the internal storage, microprocessor or SD card
found in a mobile device such as a cellular phone, personal digital
assistant (PDA), tablet or the like. The computer-executable
instructions also may be stored on other computer readable medium
such as a universal serial bus (USB) drive, SD card or CD-ROM. In
other embodiments, computer-executable instructions are stored on a
server computer system and accessed via a communications link or a
computer network, such as an intranet, the Internet, or another
computer network.
[0045] Certain specific details are set forth in the following
description and in FIGS. 1-5 to provide a thorough understanding of
various embodiments of the invention. Because the basic structures
and functions related to computer-readable routines and
corresponding implementations are known, including linking to
remote systems to provide information and instruction regarding
authorization, funding and settlement of financial transactions,
they have not been shown or described in detail here in order to
avoid unnecessarily obscuring the described embodiments. In
addition, some well-known structures and systems often associated
with computer networks have not been shown or described in detail
below to avoid unnecessarily obscuring the description of the
various embodiments of the invention. In addition, although not
described in each instance, typically, all of the communications
and transfers between the components in any of the systems or
networks depicted herein are encrypted. Those of ordinary skill in
the relevant art will understand, however, that the invention may
have additional embodiments which may be practiced without several
of the details described below. In other instances, those of
ordinary skill in the relevant art will appreciate that the methods
and systems described can include additional details without
departing from the spirit or scope of the disclosed
embodiments.
[0046] FIG. 1 depicts exemplary embodiments of the value transfer
system 100. In one embodiment shown in FIG. 1, the system 100
comprises a local system 101, a remote system 102 and a transfer
network 103. The local system 101 includes a consumer device 104
and a swap service 105. The consumer device 104 is communicatively
linked to the swap service 105. In one embodiment, the swap service
105 is installed locally on the consumer device 104 as a program or
application. In another embodiment, the consumer device 104
includes a microprocessor and a computer readable media on which
the code for the swap service 105 is installed. In another
embodiment, the swap service 105 may be accessed by the consumer
device 104 through a cellular network, a wired or wireless network,
via the internet, through a web client or interface, as software as
a service (SaaS) or through local or wide area networks.
[0047] The transfer process begins with a user calling up the swap
service 105 on the consumer device 104. The swap service 105
requests the user to input the transfer request amount and to
identify the funding account. The user may input the information
manually. This may be done using the consumer device keyboard or a
keyboard associated with the swap service 105. In some embodiments,
the information may be input through voice commands. In another
embodiment, the consumer device 104 includes an optical device that
may receive a picture or video of the funding card. In still other
embodiments, the information is input through radio frequency
identification (RFID). The information will be stored on servers
for possible later retrieval in the event the user wishes to create
an account. The consumer device 104 may then process the image and
extract the funding card information using optical character
recognition (OCR). Such information may include the user's name,
funding account number, expiration date, unique card identification
number and the like. Software development kits (SDKs) that allow
scanning of cards to retrieve the card information are known in the
art. One such SDK is available from card.io. In one embodiment, the
user system 101 may request the user to enter additional user
contact information such as the user's name, email, financial
information, employment information, paystub information and the
like. The consumer device 104 stores the user-inputted
information.
[0048] The local system 101 is communicatively linked to the remote
system 102 through a communications link 105. The remote system 102
may include data processing subsystems, networks, and operations
used to support and deliver authorization services, exception file
services, and clearing and settlement services. In the embodiment
depicted, the remote system comprises a server computer 107 and a
transaction processor 108. The server computer 107 may additionally
include a database 112 for storing data. In certain embodiments,
remote system 102 may be part of a third party system. Exemplary
third party systems are those offered by BancBox and VisaNet. The
communications link 106 may be a cellular network, an intranet, a
wired or wireless network, the internet, a local or wide area
network.
[0049] The remote system 102 is communicatively linked to a
transfer network 103. Typically, a transfer network 103 will
include, but is not limited to, a financial affiliate system 109, a
funding account issuer system 110 or a receiving account issuer
system 111. The financial affiliate system 109, funding account
issuer system 110 and the receiving account issuer system 111 may
be part of any of the networks that a funding account or a
receiving account uses to provide authorizations, settle or clear
financial transactions or transfers. Examples of such networks
include VISA, NOVA and Automated Clearing House (ACH).
[0050] The data exchanges between the consumer device 104 and the
server computer 107 are dependent on user-selected functions
available through and provided by the swap service 105. Based on
the user submitted information, the consumer device 104 provides
instructions to server computer 107 to request authorization of the
requested transaction from the appropriate funding account issuer
system 110.
[0051] In some embodiments of the invention, a service provider fee
will be charged to one of the users. In such instances, the swap
service 105 will determine a net transfer amount (the requested
transfer amount less the service provider fee) which may include a
monthly subscription fee for a preset number of transfers, and a
service provider fee amount. In such instances, the swap service
105 may provide a message informing the user of the fee and
requesting acceptance of such fee. In some embodiments of the
invention, interest rates and late fees may be charged. The server
computer 107 stores the card information, a user identification and
password, requested transfer amount and any service provider fee or
user-designated fee and sends the information to the transaction
processor 108. The transaction processor 108 routes the request to
the correct funding account issuer system 108 according to
information provided by the server computer 107. In some
embodiments of the invention, a currency reserve will be utilized
to facilitate cross-market exchanges.
[0052] Typically, all communications and/or data exchanges
described herein are encrypted to preserve privacy and ensure the
security of the information, data and user accounts and at each
step of the process the receiving system or component will
unencrypt the information it receives and encrypt the information
it sends. For clarity and to not obscure the description, the steps
of unencrypting and encrypting data and information have been
omitted from the description of the transfers.
[0053] If the funding account issuer system 110 authorizes the
transaction, the funding account issuer system 110 will provide an
authorization code to the transaction processor 108. In some
embodiments, the timing of transfers can be increased by using
reserve funds held by the swap service in a merchant-owned
electronic account, where the service uses certain data points
provided by users, to create a risk profile of the user. In some
embodiments, a success message also may be provided to the user
through the swap service 105. The transaction processor 108
provides the message and authorization code to the server computer
107. The server computer 107 stores the authorization code and
communicates with the consumer device 104, which communicates with
the user through the swap service 105. In some embodiments, a
message will be returned to the swap service 105 informing the user
if the transfer request was accepted or denied. In other
embodiments, an email or text message may be returned to the
user.
[0054] Upon receipt of the transfer authorization, the swap service
105 will request receiving account information from the user. The
user may input the receiving account information manually or by
scanning a receiving account card. In some embodiments, the swap
service 105 may request additional contact information including,
without limitation name, email and billing zip code. The user
submitted information is stored in the consumer device 104 and the
swap service 105 instructs the consumer device 104 to submit the
information with instructions to the server computer 107 to begin
the settlement and funding process. The server computer 107
receives and stores the receiving account information and transfer
amount. The server computer 107 sends the receiving account
information and processor keys to the transaction processor 108 and
the transaction processor 108 routes the request to the correct
receiving account issuer system 111. If the receiving account
issuer system 111 authorizes the transaction a success message and
an authorization code is returned to the transaction processor
108.
[0055] The transaction processor 108 sends the authorization
message and authorization code to the server computer 107. The
server computer 107 stores the authorization code with the
receiving account information and transfer amount. In some
embodiments, the server computer 107 triggers an email to the user.
The consumer device 104 receives successful authorization message
from the server computer 107 which may be displayed on the swap
service 105.
[0056] The server computer 107 retrieves the funding account
information and sends the funding account information, the
transaction amount and the authorization code to the transaction
processor 108 as a submission. The transaction processor 108
receives the funding card information, transaction amount and
authorization code and sends it to the funding account issuer
system 110 as a submission. The funding account issuer system 110
receives the funding account information and the transaction amount
and processes the submission. The funding account issuer sends the
submission payment in the amount of the transaction request back to
the transaction processor 108 with the funding account information.
The transaction processor 108 sends the submission payment to the
server computer 107 with the funding account information.
[0057] The server computer 107 retrieves the receiving account
information plus the net transfer amount, together with the amount
of any service provider fees or user-designated fees, from the
server computer database 112. The server computer 107 assigns a
temporary escrow account identification code to the receiving
account information and the transaction amount, allocates the
service provider fee, if any, to a service provider identification
code, stores the temporary escrow account identification code, the
receiving account information and the net transfer amount. The
server computer 107 sends the receiving account information, net
transfer amount, temporary escrow account identification code and
the service provider identification code and the service provider
fees to the financial affiliate 109. The financial affiliate 109
deposits the net transfer amount in a temporary escrow account and
deposits the service provider fees in the service provider account
using the service provider identification code. The financial
affiliate 109 sends the temporary escrow account identification
code and the net transfer amount to the server computer 107. The
server computer 107 retrieves the receiving account information and
the net transfer amount from the server computer database 112. The
server computer 107 transfers the information to the transaction
processor 108 with BillPay instructions. The transaction processor
108 sends the receiving account information and the net transfer
amount and to correct receiving account issuer system 111 with a
BillPay ISO code. The receiving account issuer system 111 processes
payment to the receiving account based on the BillPay ISO code. The
receiving account issuer system 111 returns the receiving account
information and a success response code to the transaction
processor 108. The transaction processor 108 sends the receiving
account information and the success response code to the server
computer 107 which server computer 107 records said receiving
account information and success response code in the server
computer database 112. The server computer 107 may send a trigger
email to the user that the transfer has cleared.
[0058] In another embodiment of the value transfer system depicted
in FIG. 1, the authorization process occurs through a financial
institution 113 that issued the stored value card. In this
embodiment of the value transfer system, before the funding account
issuer system 110 authorizes the transaction the server computer
107 communicates through a financial affiliate 109 with the
financial institution 113 associated with the funding account
issuer system 110 that controls an authorization code passed from
the financial affiliate 109 to the financial institution 113 to the
funding account issuer system 110 and then to the transaction
processor 108. In such embodiments, a transfer network 103
typically will include, but is not limited to, a financial
affiliate system 109, a funding account issuer system 110 or a
receiving account issuer system 111. The financial affiliate system
109, funding account issuer system 110 and the receiving account
issuer system 111 may be part of any of the networks that a funding
account or a receiving account uses to provide authorizations,
settle or clear financial transactions or transfers.
[0059] FIG. 2A is a flow diagram depicting a routine 200 that
operates the swap service 105 through authorization of the funding
request. The method may begin at step 201 where the user starts
program by accessing the swap service 105 from the consumer device
104. This may be accomplished by clicking on the program saved
locally in the consumer device 104 or by accessing the swap service
105 through a web browser. At 202, the swap service 105 displays a
request for a funding transaction amount. After the user enters the
transaction amount, the swap service 105 requests identification of
the type of funding account at 203. In some embodiments, the swap
service 105 may also request acceptance of service provider fees or
user-designated fees associated with the transfer. Service provider
fees may be a flat fee or a percentage of the transfer amount.
User-designated fees may be late fees or interest rates. In
embodiments where a service provider fee is charged, the swap
service 105 may display a message disclosing the service provider
fee amount and request that the user confirm and accept the service
provider fee. At 204 the swap service 105 requests input of the
funding card information. In some embodiments, the funding card
information may be input manually, including the manual input of a
credit card's CID number. In other embodiments, the funding card
information is scanned. If manual input is selected, the swap
service 105 may display a keyboard and input fields at 205. If scan
input is selected, the scanner is displayed at 206. The scanner
captures the card and displays the card information to the user at
207. The swap service 105 stores the card information at 208. At
209, the swap service 105 requests the user's contact information
and displays a keyboard and submit button. The contact information
may include the user's name, billing zip code and email. When
complete, the user taps the submit button. In some embodiments this
information may be stored in the swap service cache. At 210, the
card information is sent to the swap service cache in the consumer
device 104. At 211, the swap service encrypts the card information
and sends the card information to the remote system 102 with the
transfer amount less any service provider fee (net transfer amount)
with instructions for obtaining authorization. The user request is
then routed to the funding account issuer system 110 for
authorization. At 212, the swap service 105 receives a message from
the remote system 102 accepting the transfer request or declining
the transfer request. If the transfer request is declined, the
routine ends. If the transfer request is authorized, the swap
service 105 runs the routine depicted in FIG. 2B.
[0060] FIG. 2B is a flow diagram depicting a routine 220 that
operates the swap service 105 to complete funding of the transfer
request once authorization of the transfer is obtained. If an
authorization message is received, the swap service 105 displays a
request to identify the receiving account type at 221. At 222, the
swap service 105 displays a request for the receiving account
information. At 223, the swap service 105 will provide the user
with the option of inputting the card information manually or
scanning the card information. If manual input is selected, a
keyboard and input fields are provided at 224. If scan input is
selected, the swap service loads the scanner at 225. At 226, the
card is captured and card information is displayed. At 227 the card
information is stored. At 228, the swap service 105 requests the
user's contact information and displays a submit button. The
contact information may include the user's name, billing zip code
and email. In some embodiments, the user contact information may
have been stored in the swap service cache when previously entered
and may be recalled by the swap service 105. When complete, the
user taps the submit button at 229. At 230, the card information is
sent to the swap service cache in the consumer device 104. At 231,
the swap service 105 encrypts the card information and sends the
receiving card information plus the net transfer amount (requested
transfer amount less any service provider fees) to the remote
system 102. The remote system 102 performs the necessary
transactions with, for example, financial institutions and credit
card issuers to authorize the transaction, establish any necessary
escrow accounts, settle the transaction and transfer the value to
the receiving account based on the user inputted information. At
232, the swap service 105 receives a message from the remote system
102 indicating a successful or unsuccessful transfer and may
display a message indicating whether or not the transfer was
successful. At 233, the swap service loads a success screen
indicated that the transfer was completed successfully.
[0061] FIGS. 3A-3I illustrate exemplary screenshots of the swap
service 105 according to one embodiment of the invention. FIG. 3A
depicts an exemplary screen shot of the transfer request screen 300
of the swap service 105. In this embodiment, the swap service 105
presents a request for the user to input a transfer amount 301, a
transaction amount indicator 302, a transfer request entry button
303, a submit button 304 (here, presented as a "SWAP" button") and
a keyboard 305. All buttons described in this application may be
presented as virtual buttons on a consumer device with a touch
screen. In this embodiment, the transaction amount indicator 302
identifies the fees associated with the transaction. A user may
enter the transfer amount in the transaction amount indicator 302
by using the keyboard 305.
[0062] FIG. 3B illustrates an exemplary screen shot of an updated
transfer request screen 310 following the user entry of the
transfer amount according to one embodiment of the present
invention. In FIG. 3B, the transaction amount indicator 302 has
been updated to reflect the transfer request amount and the fees
associated with the transfer. In this embodiment, the user may
indicate acceptance of this amount by touching the transfer request
entry button 303.
[0063] FIG. 3C illustrates an exemplary screen shot of a select fee
payment screen 320 according to one embodiment of the present
invention. The transfer request amount plus the fees is indicated
in the transaction amount indicator 302. In some embodiments, where
there is a disclosure of fees, the swap service may provide the
disclosure of such fees followed by an option to choose which user
(sender or receiver) is responsible for paying the fees. The swap
service 105 presents a fee addition button 321, an input button 322
and a fee deduction button 323.
[0064] FIG. 3D illustrates an exemplary screen shot of a funding
account type screen 330 according to one embodiment of the present
invention. The swap service 105 presents options to the user
regarding what account the user would like to use as the funding
account. In this embodiment, the user may select funding the
transfer with a credit card, a checking account, or a debit card by
selecting the credit card button 331, checking account button 332,
or debit card button 333 on the swap service 105.
[0065] FIG. 3E illustrates an exemplary screen shot of a funding
account information input screen 340 according to one embodiment of
the present invention. Here, following the selection of the account
that the user wishes to use to fund the transfer, the swap service
105 will request input of the funding card information. In this
embodiment, the swap service 105 presents a manual input button 341
and a scanning input button 342. The user may select the input
option and either manually input the funding card information or
scan the funding card so that the swap service 105 may discern the
card information.
[0066] FIG. 3F illustrates an exemplary screen shot of a funding
user contact information request screen 350 according to one
embodiment of the present invention. In this embodiment, the swap
service 105 displays input selections for the user's name 351, the
funding card number 352, billing zip code 354, funding card
identification (CID) 353 and email address 355. The swap service
105 may also present a keyboard 358 to allow the user to input the
user's contact information. Such information may also be retrieved
from storage based on the user's biometric information.
[0067] FIG. 3G illustrates an exemplary screen shot of a receiving
account type screen 360 according to one embodiment of the present
invention. The swap service 105 presents options to the user
regarding what account the user would like to use as the receiving
account. In this embodiment, the user may select transfer to a
credit card, a checking account, or a PayPal account by selecting
the credit card button 361, checking account button 362, or PayPal
account button 363 on the swap service 105.
[0068] FIG. 3H illustrates an exemplary screen shot of the
receiving account information input screen 370 according to one
embodiment of the present invention. Here, following the selection
of the account that the user wishes to use to receive the transfer,
the swap service 105 will request input of the receiving card
information. In this embodiment, the swap service 105 presents a
manual input button 371 and a scanning input button 372. The user
may select the input option and either manually input the funding
card information or scan the funding card so that the swap service
105 may discern the card information.
[0069] FIG. 3I illustrates an exemplary screen shot of a receiving
user contact information request screen 380 according to one
embodiment of the present invention. The swap service 105 may
request input selections for the user's name 381, the funding card
number 382, funding card identification (CID) 383, billing zip code
384 and email address 385. In this embodiment, the swap service 105
queries the user as to whether the receiving user information is
the same as the funding user information 386. If the user presses
the "YES" button 387, the swap service 105 retrieves the previously
entered and stored funding user account information and copies it
into the receiving account user information. If the user presses
the "NO" button, the user may be prompted to enter the new
receiving user account information. The swap service 105 may also
present a keyboard 358 to allow the user to input the user's
contact information. The user may present the information to
complete the transfer by pressing the "SWAP" button 389 which
submits the transfer information.
[0070] FIG. 4 depicts a wireframe diagram 400 of operation of the
service in accordance with one embodiment of the present invention.
In this embodiment, the swap service 105 presents an introductory
screen 401 to the user with a button for entry of a transfer
amount. The user may elect to transfer by pressing the transfer
amount button which prompts the swap service 105 to present a
transfer amount screen 402 with a field for entering the transfer
amount. In the depicted embodiment, the swap service 105 also
figures the service and/or user fees to be charged based on coding
in the service and presents the user with notice of the fees to be
charged and the net transfer amount. The user may elect to continue
with the transfer by selecting the continue button. Upon the user's
election to continue, the swap service 105 presents a funding card
information screen 403 that includes input fields for a funding
card and the option to scan the funding card. If the user elects to
scan the funding card information, a scanning screen 404 will be
displayed. Scanning screen 404 includes a display area and a
capture button. The user uses the camera on the consumer device 104
and scans the card by depressing the capture button. The user is
returned to screen 403 where the card information fields are now
populated based on the scanned information. The user may accept the
scanned information by depressing the continue button. Upon user
acceptance, the swap service 105 presents a recipient information
screen 406 to the user. The recipient information screen 406
presents input fields to identify the funds recipient together with
the continue button. Following entry of the recipient information,
the user depresses the continue button and the swap service 105
presents a funding card identification screen 407 to the user.
Buttons on the funding card identification screen 407 provide
options regarding identification of the receiving account type. In
the depicted embodiment, credit card and checking account are
presented but, as demonstrated elsewhere in this application,
receiving accounts are not limited to prepaid cards and checking
accounts. Upon the user's selection of a receiving account type,
the swap service 105 presents a card input screen 408 or an account
input screen 409. The card input screen 408 presents input fields
for manual entry of the card information or the option to scan the
receiving card. If the user elects to scan the card, the swap
service 105 will present the scanning screen to the user, the user
will scan the card and the swap service 105 will extract the card
information and populate the card information input fields. Once
the card fields are populated, the user presses the continue button
which brings the user to confirmation screen 410. Confirmation
screen 410 presents a confirmation message and a complete swap
button to the user. The user may accept the transfer by pressing
the complete swap button. The service then carries out the swap in
accordance with instructions coded in the swap service and the
information provided by the user. If the swap is successful, the
swap service 105 presents success screen 411 to the user together
with the option to enter an email address or phone number to which
a receipt may be sent. If the swap fails, the swap service 105
presents a failure screen 405 to the user. All buttons described in
this application may be presented as virtual buttons on a consumer
device with a touch screen.
[0071] FIG. 5 is a flow diagram of a routine 500 that operates the
swap service 105 for retrieving the user's prepaid card balances.
The method may begin at step 501 where the user starts program by
accessing the swap service 105 from the consumer device 104. This
may be accomplished by clicking on the program saved locally in the
consumer device 104 or by accessing the swap service 105 through a
web browser. At 502, the swap service 105 displays an option to
check card balances. When the user elects to check card balances,
the swap service 105 will request input of the card information at
503 with an option to enter the card information by scanning or
manually. If manual input is selected, the swap service 105 may
display a keyboard and input fields at 504. If scan input is
selected, the scanner is displayed at 505. The scanner captures the
card and displays the card information to the user at 506. The swap
service 105 stores the card information at 507. At 508, the swap
service 105 transmits the card information to an aggregator
service, which is a remote server as depicted in FIG. 1, for
balance validation. In some instances, the card balance may not be
successfully retrieved based on card information obtained by
scanning. If the card balance is not successfully retrieved, the
swap service 105 will provide the user with the option to manually
enter the card information at 504. Based on the provided
information, the aggregator service identifies the financial
institution associated with the card number based on
issuer-specific criteria and the aggregator service contacts the
prepaid Card issuer for validation of card information. The swap
service 105 will display a success message or error message
depending on whether the card information is valid or invalid at
509. If the card information is valid, the swap service 105 will
request the balance information from the aggregator service at 510.
At 511, the swap service 105 receives balance information from the
aggregator service and displays the information to the user at 512.
At 513, the routine ends.
[0072] FIG. 6 is a flow diagram of a routine 600 for creating a
digital equivalent of a card. At 601 the gift card or prepaid card
information is input through the swap service 105 user interface as
described elsewhere herein. At 602, based on that information, the
swap service 105 facilitates validation of the card information by
transmitting the gift card or prepaid card information, to an
aggregator service, issuer of the card or the like for validation.
After receiving validation at 603, the card information is encoded
into a digital equivalent of the gift card at 604 which at 605 may
be stored on the consumer device 104. The digital equivalent may be
retrieved on demand. At 606, the routine ends.
[0073] FIG. 7 is a flow diagram of a routine 700 for a method of
using a digital equivalent for payment. At 701, the digital
equivalent is retrieved. At 702, the digital equivalent is
presented or transmitted for use in payment. In the case of a bar
code, the bar code is rendered on the consumer device and scanned.
In other embodiments, the digital equivalent may be presented or
transmitted by other means, including, but not limited to, radio
frequency identification (RFID), near field communication (NFC),
Bluetooth low energy (BLE), wireless network, personal area network
(PAN), other computer network, or other transmission of card
information at point-of-sale. At 703, the updated value of the
digital equivalent is requested from and at 704 the updated value
is received. At 705, the updated value is stored. At 706, the
routine ends.
[0074] FIG. 8 is a flow diagram of a routine 800 for a method of
facilitating interaction between a merchant and user via
correspondence is sent to the consumer device 104. Correspondence
may include, without limitation, a marketing message, a reminder to
use the card balance, one or more of a coupon, an advertisement, an
offer of a discount, an informational message, notification of
nearby locations where value can be redeemed, and additional
functionality. Additional functionality may include a merchant's
offer to support transfer into new or existing stored value
accounts, support of incentives for transferring value via the swap
service, re-gifting a card to a single friend or multiple friends,
use the funds on a gift card to purchase a gift card and
electronically send to a recipient, and to donate value from a gift
card to a charity. The correspondence and its content can also be
governed, at least in part, by the merchant's rules. In one
embodiment of the innovation, at 801, the swap service 105 is
prompted to access information by a triggering event. Such
information may include, but is not limited to, transaction
parameters associated with the transaction in progress, geographic
location, historical transaction data, personal data, a merchant
identification code that uniquely identifies a merchant, or user
account data. Triggering events may include, without limitation, an
ongoing transaction, geographic location, reloading of an account,
or any other use or access to a particular account. At 802, the
swap service 105 provides information via the consumer device 104
to the Remote System 102 with instructions, based on inputted card
information, for the Remote System 102 to contact the appropriate
merchant. At 804, the routine ends. Based on the received
information, the merchant may then send correspondence to the user
via SMS text, MMS text, email or any other means by which a message
can be sent to a consumer device. The foregoing scenario is merely
one example of how user information can be used to generate
correspondence. Those skilled in the applicable art will see many
other applications for the features and capabilities described
herein.
[0075] All publications and patents cited in this specification are
herein incorporated by reference in their entirety. Although the
invention has been described in connection with specific preferred
embodiments and certain working examples, it should be understood
that the invention as claimed should not be unduly limited to such
specific embodiments. Various modifications and variations of the
described methods and systems of the invention will be apparent to
those skilled in the art without departing from the scope and
spirit of the invention.
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