Inventors:
Jason Wolfe - Sewickley PA, US
Mark Romanelli - Bridgeville PA, US
Sanjay Akut - Pittsburgh PA, US
Mike Kelly - Langhorne PA, US
Mary Jane Kelly - Langhorne PA, US
Assignee:
Giftcards.com, LLC - Pittsburgh PA
International Classification:
G06K 7/01
US Classification:
2353825, 235380, 235381, 705 35, 705 39, 705 44, 705 1426, 705 11, 705 16, 705 1434, 705 1415
Abstract:
Disclosed herein are systems, methods, and computer-readable storage media for processing closed loop cards/codes. The method includes identifying a closed loop card/code having associated money in an account, receiving a confirmation of an amount of money in the closed loop card/code account, presenting an owner of the closed loop card/code with the amount of money in the closed loop card/code account and an offer to pay an offer amount for the closed loop card/code, receiving an indication that the owner accepts the offer, receiving the amount of money from the closed loop card/code account, and paying the owner the offer amount. Payment can be on an open loop card/code, cash, automated clearing house (ACH) to bank, check, merchant credit, or bill pay. The method can include generating a new closed loop card/code associated with the amount of money. The new closed loop card/code can be sold to another user.