"System and Method for Embedding Financial-Value Account Provisioning and Management Functionality within a Database Account Management System" in Patent Application Approval Process
This patent application has not been assigned to a company or institution.
The following quote was obtained by the news editors from the background information supplied by the inventors: "The subject matter discussed in the background section should not be assumed to be prior art merely as a result of its mention in the background section. Similarly, a problem mentioned in the background section or associated with the subject matter of the background section should not be assumed to have been previously recognized in the prior art. The subject matter in the background section merely represents different approaches, which in and of themselves may also be inventions.
"Use of transferrable assigned-value financial accounts has increased dramatically in recent years. Consumers may currently purchase or otherwise initiate assigned-value accounts and thereafter provide access to these accounts to beneficiaries of the initial purchasers choosing. In one common prior art practice, an assigned-value financial account may be associated with a virtual gift cards and/or hard copy gift cards. These prior art virtual gift card accounts and attendant physical gift cards may typically be assignable to any bearer or the physical card or person who merely demonstrates accessibility to the virtual gift card account. The prior art further enables authorization of access to a monetary value of these prior art financial accounts to enable purchase goods or services at associated merchants and/or be accepted by electronic network financial transaction participants, such as affiliates of credit or debit card accounts, such as a CITIBANK.TM., VISA.TM., MASTER CARD.TM., DISCOVER.TM. or AMERICAN EXPRESS.TM. systems or programs or retail store credit cards or programs offered or associated with retail operators, such as AMAZON.TM., MACYS.TM., SAKS FITH AVENUE.TM.,
"Prior art gift cards provide a restricted monetary equivalent or scrip that is issued by retailers or banks to be used as an alternative to a non-monetary gift. Increasingly popular among the general public, gift cards ranked in year 2006 as the second-most given gift by consumers in
"Gift cards are often purchased and given as gifts by a benefactor who wishes to create or strengthen a personal, social or business relationship with a beneficiary-recipient of the gift card or a gifted monetary value account. Yet the prior art fails to optimally enable or encourage the association of identity data that is associable, or may be provided to, a beneficiary of an assigned-value financial account as intended by an original purchaser of the assigned-value financial account and/or a previously authorized beneficiary of an assigned-value financial account."
In addition to the background information obtained for this patent application, VerticalNews journalists also obtained the inventors' summary information for this patent application: "It is an object of the invented method to provide a method and a system that enable the association and communication of identity information that enables access to a credit or a financial account value.
"It is an optional object of the invented method to provide a method and a system that enable access to a credit or a financial account value by a party associated with the identity information.
"It is an additional optional object of the invented method to provide a method and a system that enable access to a credit or a financial account value by a party that presents the identity information.
"Towards these objects and other objects that will be made obvious in light of this disclosure, a system and method are provided for enabling a user of an electronically accessible data base to create an assigned-value account that is pre-authorized for use with at least one designated merchant, credit card network, debit card network or financial services provider. The user preferably may select from among a plurality of primary merchants, wherein the identification of the assigned-value account includes a branding association of a single primary merchant. It is also optionally preferable that access to the established assigned-value account may be furnished to a beneficiary by an electronic communications network, whereby the beneficiary may receive and/or provide identity information required and sufficient to enable access to the assigned-value account.
"According to still other optional additional and/or alternate aspects of the invented method, the initial beneficiary may be enabled to further enable access to the assigned-value account by providing the identity information, or other information associated with the assigned-value account, to one or more other parties. The initial beneficiary and/or other parties may be any bearer of the identity information, a person or persons specifically identified by the identity information, and/or an organization. The identity information may consist of or comprise an authorizing character string that, when presented at a point of sale or via the electronics network, enables access to the associated assigned-value account. The assigned-value account may optionally be applied to secure ownership rights to or licenses of virtual or digitized assets.
"According to even other optional additional and/or alternate aspects of the invented method, the use of the assigned-value account may be recordable and reportable via an electronic communications network, e.g., the Internet, a telephony network, and a computer communications network, to a primary merchant and/or a beneficiary organization associated with the assigned-value account. The invented additionally and optionally provides for publishing an account number of the assigned-value account on a physical card and providing the physical card to the beneficiary, wherein the physical card may be a gift card.
"According to yet other optional additional and/or alternate aspects of the invented method, a system is provided that enables monitoring, authorizing, limiting and expanding the use of, and/or monetary redemption of, an assigned-value account by an account manager or by an automated process, whereby the value of the assigned-value account may be recognized or processed as a monetary value. The invented method preferably and optionally further enables the account manager to access interaction of the assigned-value account through the electronic network and/or in concert with a customer relationship management facility or a sales automation system.
"According to additional optional and/or alternate aspects of the invented method, a system is provided that provides a client system using window user interfaces to both (a.) interact with a database system and (b.) generate, populate and communicate assigned-value accounts. The client system is preferably bi-directionally communicatively coupled with both a database system comprising the database and an electronics communications network, wherein identity information may be communicated to one or more beneficiary-candidates as directed by an account manager via the client system.
"This Summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This Summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
BRIEF DESCRIPTION OF THE FIGURES
"These, and further features of the invention, may be better understood with reference to the accompanying specification and drawings depicting the preferred embodiment, in which:
"FIG. 1 is a block diagram of an electronic communications network that bi-directionally communicatively couples an account management client system with a plurality of beneficiary systems, a plurality of merchant systems and optionally with a data base management system;
"FIG. 2 is an illustration of a graphical user interface (hereinafter, 'first GUI') rendered in concert with an account management system, e.g. a sales automation system or a customer relationship management system, whereby an account manager is enabled to create, edit, modify, assign, authorize access to, monitor, manage and/or limit an assigned-value account;
"FIG. 3 is an assigned-value account generation template as rendered by a system software of the client system of FIG. 1 in a generation of an assigned-value account of FIG. 2 in interaction with the account manager;
"FIG. 4 is a flow chart of the client system of FIG. 1 in generating an assigned-value account in interaction with the account manager;
"FIG. 5 is a flow chart of a interaction of the gift system with the network of FIG. 1;
"FIG. 6 is a block drawing of a gift account record of an assigned-value account of FIG. 3 as initiated by the account manager in interaction with the customer relationship management system of FIG. 1 and updated in interaction with the network of FIG. 1;
"FIG. 7 is a flowchart of a point of sale system of FIG. 1 in interaction with a bearer of information related to the assigned-value account of FIG. 2 and the electronics communications network of FIG. 1;
"FIG. 8 is a flowchart of management activity enabled by the customer relationship management system of FIG. 1 and as driven by the account manager in effecting the assigned-value account of FIG. 2;
"FIG. 9 is a block diagram of a single client system of FIG. 1;
"FIG. 10 is a block diagram of a single point of sale system of FIG. 1;
"FIG. 11 is a block diagram of a gift sale system of FIG. 1;
"FIG. 12 is a schematic illustration of an exemplary first gift account record that relates to account information maintained in one or more of the systems, or accessible via the electronics communications network, of FIG. 1; and
"FIG. 13 is a schematic illustration of an exemplary first gift message that is generated in the process of an instant purchase according to one aspect of invented method as enabled by the systems and electronics communications network of FIG. 1."
URL and more information on this patent application, see: FENNEL,
Keywords for this news article include: Patents, Electronics.
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Quiznos Files for Chapter 11
- FDIC Sues Big Banks Over Rate Manipulation
- U.S. to Relinquish Gov't Control Over Internet
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Vybz Kartel Convicted of Murder
- SoCalGas Reaches Record Spend on Diversity Suppliers
- U.S. Consumer Sentiment Falls in Early March