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US 8,025,221 B2Granted
Stored value card transaction control systems and methods
AssigneeFirst Data Corporation
InventorsBret M Esslinger, Cathy A Olson
Life of this patent
Estimating the term…
Abstract
A gift card processing system which includes a database storing interval information representing a required interval between transactions using the gift card. The database also stores data representing the maximum amount of each transaction. The gift card processing system is part of a network that includes POS terminals at merchant locations, where the gift card may be presented. A card ID is read from the card at a POS terminal and used to access the interval data and the maximum transaction amount data.
Claims3
A system for processing transactions using a stored value card, comprising:
- a POS terminal for capturing card identifying information when the card is used for a transaction;
- a database storing, in association with the card identifying information, transaction interval data defining a required time interval between transactions using the card;
- and
- a management system for accessing the database in response to card identifying information captured at the POS terminal and authorizing a transaction at the POS terminal only if the transaction satisfies the required interval between transactions;
- wherein the interval data includes the date of the last transaction and a required interval between the last transaction and a current transaction, and wherein the management system provides an alert if more time than the required interval has passed since the last transaction.
2 more elements
Dependencies are inferred from the claim text.