Gift card reimbursement system and method
OwnerGil Vardiinventor
Life of this patent
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Abstract
A method for purchasing goods and services in transactions utilizing a valued card includes issuing to a card owner from an issuing institution a valued card pursuant to an agreement between the card owner and the issuing institution. The valued card has a purchase value. The valued card is transferred to a recipient having authority to purchase goods and services utilizing at least a portion of the purchase value. The card owner is reimbursed a percentage of a remaining balance of the purchase value at an expiration date pursuant to the agreement.
Claims22
A method for purchasing goods and services in transactions utilizing a valued card, said method comprising:
- issuing to a card owner from an issuing institution a valued card pursuant to an agreement between the card owner and the issuing institution, the valued card having a purchase value and an expiration date associated therewith;
- transferring the valued card to a recipient having authority to purchase goods and services utilizing at least a portion of the purchase value;
- and
- reimbursing the card owner a percentage of a remaining balance of the purchase value at the expiration date pursuant to the agreement.
A valued card system comprising:
- a card owner account established with an issuing institution pursuant to an agreement between a card owner and the issuing institution;
- a valued card issued from the issuing institution to the card owner, said valued card having an expiration date and a purchase value funded by said card holder account authorizing a recipient to purchase at least one of goods and services utilizing at least a portion of the purchase value upon transfer of said valued card from the card owner to the recipient;
- and
- a first computer located at the issuing institution in communication with a second computer located at a point-of-sale retail establishment, said first computer configured to:
- authorize a transaction between the recipient and the point-of-sale retail establishment to purchase the at least one of goods and services utilizing said valued card;
- debit a price of the purchased goods and services from the purchase value in response to the transaction to adjust a remaining balance on said card owner account;
- and reimburse the card owner a percentage of the remaining balance when said valued card expires pursuant to the agreement.
Dependencies are inferred from the claim text.