System and method for providing instant-decision, financial network-based payment cards
AssigneeJP Morgan Chase Bank
InventorsBrigette A. White, Ronald Levinson, Mohit Sabharwal
Life of this patent
Estimating the term…
Abstract
A system and method for issuance of a financial network-based payment card (generally known as a “credit card”) almost instantaneously after application, wherein an applicant applies for a credit card by entering data into a data entry system, advantageously by filling in a plurality of predefined forms in a computer-based data entry system. The applicant's data is sent via a data network to a central decision center, which approves or disapproves the application. If the application is approved, data is generated and delivered to a card production system, which embosses and magnetically encodes a card blank. The card is then delivered to the applicant.
Claims7
A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of:
- receiving, at a first site, personal data from an applicant located at the first site;
- sending the personal data from the first site to a decision system;
- determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant;
- sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant;
- generating, at the first site, a temporary credit card with the unique identifying information;
- issuing the temporary credit card to the applicant at the first site, wherein the temporary credit card is configured for use in a limited geographic area comprising the first site;
- conducting a further evaluation of the applicant to determine whether to issue a permanent payment card configured for use on any point-of-sale network associated with the issuer of the permanent credit card;
- and
- issuing the permanent credit card at a second site.
A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of:
- receiving, at a first site, personal data from an applicant located at the first site;
- sending the personal data from the first site to a decision system;
- determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant;
- sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant;
- generating, at the first site, a permanent credit card with the unique identifying information;
- activating the permanent credit card for use in a limited geographic area comprising the first site;
- issuing the permanent credit card to the applicant at the first site;
- and
- following a predetermined amount of time, activating the permanent credit card for use on any point-of-sale network associated with the issuer of the permanent credit card.
A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of:
- receiving, at a first site, personal data from an applicant located at the first site;
- sending the personal data from the first site to a decision system;
- determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant;
- sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant;
- generating, at the first site, a permanent credit card with the unique identifying information;
- activating the permanent credit card for use in a limited geographic area comprising the first site;
- issuing the permanent credit card to the applicant at the first site;
- and
- following further evaluation of the applicant, activating the permanent credit card for use on any point-of-sale network associated with the issuer of the permanent credit card.
A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of:
- receiving, at a first site, personal data from an applicant located at the first site;
- sending the personal data from the first site to a decision system;
- determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant;
- sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant;
- generating, at the first site, a temporary credit card with the unique identifying information;
- issuing the temporary credit card to the applicant at the first site, wherein the temporary card is a limited-use credit card;
- conducting a further evaluation of the applicant to determine whether to issue a permanent credit card configured for use on any point-of-sale network associated with the issuer of the permanent credit card;
- and
- issuing the permanent credit card at a second site.
A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of:
- receiving, at a first site, personal data from an applicant located at the first site;
- sending the personal data from the first site to a decision system;
- determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant;
- sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant;
- generating, at the first site, a temporary credit card with the unique identifying information;
- issuing the temporary credit card to the applicant at the first site, wherein the temporary card is a limited-use credit card;
- conducting a further evaluation of the applicant to determine whether to issue a permanent credit card configured for use on any point-of-sale network associated with the issuer of the permanent credit card;
- and
- determining, based on the further evaluation, not to issue the permanent credit card.
Dependencies are inferred from the claim text.