Spending vehicles for payments

Details Spending vehicles for payments Spending vehicles for payments

2006-06-13

2010-02-23

Campen, Kelly (Department: 3691)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Accounting

C705S035000

Reexamination Certificate

active

07668764

ABSTRACT:
A system and method for associating payments with spending vehicles so that an individual who is entitled to receive periodic or special payments such as social security checks receives in place of the payment a spending vehicle such as a discount card, rebate, or coupon for use with purchases of the sponsor's products or services. Sponsors include companies and organizations interested in offering purchase incentives to their customers. An individual who wishes to receive a spending vehicle rather than the regular payment selects the spending vehicle he or she would like to receive. The individual then assigns his or her right to receive the payment to a third party. The third party then arranges to give a spending vehicle to the individual and to transfer the individual's payment to the sponsor of the spending vehicle. The third party may take a portion of the payment as compensation for the service.

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