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US 2016/0104149 A1Published application
Systems and methods for facilitating transactions in open loop and closed loop networks
AssigneeC2Go, Inc.
InventorsScott Walker, Craig Libson, Andrew DeMaio
Life of this patent
Estimating the term…
Abstract
Systems and methods for facilitating e-commerce transactions by providing systems and methods for executing transactions in both an open loop and closed loop networks.
Claims12
A system for facilitating e-commerce transactions, comprising:
- a) an application module configured to receive user data and an electronic signature on relevant tax forms, the receipt of user data facilitating the issuance of at least one member financial account to a user, wherein the member financial account is accessible for the transfer of funds to a plurality of members within a closed loop network of members and linked to a user debit card, wherein the debit card is enabled for use in an open loop network;
- b) a transaction processing module configured to receive transaction instructions relating to the transfer of funds from a member financial account to one or more different member financial accounts of members of the plurality of members;
- and
- c) a reporting module for providing notification of transactions to members, wherein the transaction information is stored in memory.
1 more element
A system for facilitating e-commerce transactions, comprising:
- a) an application module configured to receive user data, the receipt of user data facilitating the issuance an open loop member financial account and a closed loop member financial account to a user, the closed loop member account being enabled by a closed loop operator for the use of funds therein in one or more closed loop transactions, each closed loop transaction being required to satisfy preset criteria of characteristics associated with the transaction, wherein both the open loop member financial account and the closed loop member financial account are linked to a user debit card, the open loop member financial account being enabled for the use of funds therein in one or more open loop transactions, the open loop transactions differing from the closed loop transactions;
- b) a transaction processing module configured to receive transaction instructions relating to the transfer of funds from an open loop member financial account issued to a member to a closed loop member financial account issued to the member, wherein the transaction instructions are received through a user input device with a currency acceptor;
- and
- c) a reporting module for providing notification to the closed loop operator of the transfer of funds to the closed loop member financial account.
1 more element
Dependencies are inferred from the claim text.