Prepaid value account with reversion to purchaser systems and methods
AssigneeThe Western Union Company
InventorRobert Enzaldo
Life of this patent
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Abstract
Systems, methods, and devices are described for a refundable prepaid transaction cards. The methods and systems include a prepaid transaction card funded with funds by a purchaser. Also included is an issuer. The issuer receives the funds a distributes a prepaid transaction card associated with the funds. The methods and systems also include a prepaid transaction card identifier, wherein the prepaid transaction card identifier identifies the prepaid transaction card. The issuer maintains a central computer system that stores at least one parameter entitling the purchaser to a refund of at least a portion of the funds. The methods and systems also include a cash pool, the cash pool holding at least a portion of the funds funded by the purchaser.
Claims20
A method comprising:
- receiving, with a computer system, an indication of an amount of funds received from a first party;
- associating, by the computer system, at least a portion of the amount of funds with an identifier, wherein:
- the identifier is used by a second party to make payments to at least a third party;
- and
- the first party, the second party, and the third party are different entities;
- receiving, by the computer system, two or more parameters that govern use of the identifier, wherein at least one of the two or more parameters includes a time limit after which the identifier is deactivated;
- determining, by the computer system, whether at least two parameters of the two or more parameters have been satisfied, wherein one of the at least two parameters includes the time limit after which the identifier is deactivated;
- and
- providing, by the computer system, based on a determination that at least two or more parameters have been satisfied, a refund to the first party of at least a portion of the funds associated with the identifier that were not spent by the second party.
A system comprising:
- a computer system for at least:
- receiving an indication of an amount of funds received from a first party;
- associating at least a portion of the amount of funds with an identifier, wherein:
- the identifier is used by a second party to make payments to at least a third party;
- and
- the first party, the second party, and the third party are different entities;
- receiving two or more parameters that govern use of the identifier, wherein at least one of the two or more parameters includes a time limit after which the identifier is deactivated;
- determining whether at least two parameters of the two or more parameters have been satisfied, wherein one of the at least two parameters includes the time limit after which the identifier is deactivated;
- and
- providing, based on a determination that at least two or more parameters have been satisfied, a refund to the first party of at least a portion of the funds associated with the identifier that were not spent by the second party.
A non-transitory computer readable medium having instructions thereon, the instructions executable by a processor for at least:
- receiving an indication of an amount of funds received from a first party;
- associating at least a portion of the amount of funds with an identifier, wherein:
- the identifier is used by a second party to make payments to at least a third party;
- and
- the first party, the second party, and the third party are different entities;
- receiving two or more parameters that govern use of the identifier, wherein at least one of the two or more parameters includes a time limit after which the identifier is deactivated;
- determining whether at least two parameters of the two or more parameters have been satisfied, wherein one of the at least two parameters includes the time limit after which the identifier is deactivated;
- and
- providing, based on a determination that at least two or more parameters have been satisfied, a refund to the first party of at least a portion of the funds associated with the identifier that were not spent by the second party.
Dependencies are inferred from the claim text.