System and method for adding value to a stored-value account

Details System and method for adding value to a stored-value account System and method for adding value to a stored-value account

2007-11-06

2007-11-06

Subramanian, Narayanswamy (Department: 3692)

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

Automated electrical financial or business practice or...

Finance

C705S035000, C705S037000, C705S039000, C235S375000, C235S379000, C235S380000, C235S381000, C235S382000, C235S385000

Reexamination Certificate

active

11672689

ABSTRACT:
A system and method for adding value into a customer's stored-value account is provided. A stored-value card is distributed to a merchant for distribution to a customer who has an account with an associated account number with a specific provider of goods and/or services. The card has an associated identifier used to associate a value with the card. Associated value is redeemable with one or more providers, including the specific provider. During a card purchase, a central processor receives a request to activate the card from a merchant terminal. The central processor receives a redemption request comprising the identifier from the customer. The central processor identifies the provider and account number, and inserts the associated value into the account. The central processor receives a subsequent request to activate the card from a merchant terminal, recognizes the card, identifies the provider and account number, and inserts the value into the account.

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