Method of managing prepaid accounts

A technology of account and prepayment, which is applied in the field of financial services and can solve problems such as loss

Inactive Publication Date: 2007-10-24
EPASSPORTE
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

The downside of this variety of flexibility, however, is that the entire amount of deposited funds—which for the average person or business typically represents a sizable portion of available liquid assets—is at risk of being lost through fraud

Method used

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  • Method of managing prepaid accounts
  • Method of managing prepaid accounts
  • Method of managing prepaid accounts

Examples

Experimental program
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Embodiment Construction

[0017] Referring to the drawings in detail, Figure 1 illustrates a prepaid account system 10 integrated into a financial transaction system. The financial transaction system includes traditional on-premises 12 merchants as well as merchants located on the Internet 14 . Of course, merchants can also exist in both scopes at the same time. Credit card transactions between merchants and consumers are realized through a standardized credit transaction system 16 . One such standardized system is run and maintained by the Visa International Service Association, headquartered in San Francisco, California. Another such standardized system is operated and maintained by MasterCard International, Incorporated, with offices in Purchase, New York. Both of these standardized credit transaction systems are widely used and it is within the purview of those skilled in the art to integrate a prepaid account system therewith. Merchants (whether traditional on-premises or Internet-based), stand...

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Abstract

A method for managing prepaid accounts. A prepaid account is established for an account holder who deposits funds finto the account. A virtual account number is issued for the prepaid account. The virtual account number is compatible with a standardized credit transaction system. Use of the virtual account number is limited to transactions placed over the Internet and to transactions between the prepaid account and another prepaid account. A physical credit card for the prepaid account may also be issued to the account holder. Such a credit card has a card account number which is different than the virtual account number. The card account number is also compatible with the standardized credit transaction system. The card account number may also include use limitations.

Description

[0001] priority [0002] This application claims priority based on US Provisional Application No. 60 / 534,676, filed January 6, 2004. The disclosure of this priority document is incorporated herein by reference. technical field [0003] The present invention relates to the field of financial services, and more particularly to financial services related to prepaid credit accounts and methods of managing such accounts. Background technique [0004] Currently, different types of prepaid credit accounts exist in the financial services market. In the traditional form of a prepaid account, funds are deposited into the account, a credit card is issued by the company administering the account, and the account holder thereafter uses the credit card to access the funds deposited into the account. While such accounts provide the convenience of accessing deposited funds by credit card, they offer few options to give the account holder flexibility in determining how deposited funds are ...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q40/00G06Q20/00G07F11/70H04M15/00H04M17/00
CPCH04M2215/0196G06Q20/28G06Q20/347G06Q20/10G06Q20/3255H04M17/201G06Q20/227H04M15/765H04M2215/7254H04M2017/22G06Q20/32H04M15/47H04M17/00H04M15/00H04M15/77H04M2215/0148H04M17/20G06Q20/405H04M2215/724H04M15/68
Inventor 约翰·克里斯托弗·马利克乔尔·霍尔克莱·安德鲁斯埃斯特·马丁内斯托尼·基思
Owner EPASSPORTE
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