Abstract

Disclosed herein are systems, methods, and computer-readable storage media for redeeming a closed loop card/code funded with an amount of money. The system receives, at a merchant, an indication from a consumer of a desire to sell a closed loop account not issued by the merchant and receives a confirmation, via a computing device, of an amount of money in the closed loop account. The system presents the consumer with an offer to buy the closed loop account and receives from the consumer an acceptance of the offer. The system processes the closed loop account to yield a processed closed loop account such as by transferring the account to one of the merchant and an entity and applies a benefit to the consumer based on the processed closed loop account.

IPC Classes  ?

• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06Q 20/08 - Payment architectures
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems
• G06Q 20/20 - Point-of-sale [POS] network systems
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

IPC Classes  ?

• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 30/06 - Buying, selling or leasing transactions
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems
• G06K 19/06 - Record carriers for use with machines and with at least a part designed to carry digital markings characterised by the kind of the digital marking, e.g. shape, nature, code
• G07F 7/12 - Card verification

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

IPC Classes  ?

• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06K 19/06 - Record carriers for use with machines and with at least a part designed to carry digital markings characterised by the kind of the digital marking, e.g. shape, nature, code
• G07F 7/12 - Card verification

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for auctioning gift cards on the secondary market. The system can receive a prepaid debit account for resale from an owner and determine a face value for the prepaid debit account. The system can establish a floor price and offer the prepaid debit account for sale via an auction, starting at an initial price above the floor price and up to and including the face value, and can decrement the sale price at regular time intervals. The system can end the auction when a purchaser purchases the prepaid debit account at the decremented price. However, if no purchaser purchases the prepaid debit account before the decremented price is below the floor price, the system can purchase the prepaid debit account from the owner for the floor price. The system can store the prepaid debit account in an inventory for resale.

IPC Classes  ?

• G06Q 40/00 - FinanceInsuranceTax strategiesProcessing of corporate or income taxes
• G06Q 30/08 - Auctions
• G06Q 40/04 - Trading Exchange, e.g. stocks, commodities, derivatives or currency exchange
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G07F 17/42 - Coin-freed apparatus for hiring articlesCoin-freed facilities or services for ticket printing or like apparatus
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/38 - Payment protocolsDetails thereof
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

IPC Classes  ?

• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 30/06 - Buying, selling or leasing transactions
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for redeeming a closed loop card/code funded with an amount of money. The system receives from a merchant point of sale an indication of use of a closed loop card/code not issued by the merchant and presented by a consumer, queries and receives a confirmation of an amount of money in an account associated with the closed loop card/code, presents the consumer with an offer to buy the closed loop card/code at a discount price, and upon accepting the offer, closes out the closed loop card/code and pays the discount price to the consumer. Paying the discount price can include applying the discount price to a purchase by the consumer at the merchant. The merchant can provide cash back to the consumer for excess value of the discount price over the consumer's purchase. Merchants can apply more than the discount price.

IPC Classes  ?

• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06F 7/08 - Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry
• G06Q 30/00 - Commerce
• G06Q 40/00 - FinanceInsuranceTax strategiesProcessing of corporate or income taxes
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 20/20 - Point-of-sale [POS] network systems
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/02 - Payment architectures, schemes or protocols involving a neutral third party, e.g. certification authority, notary or trusted third party [TTP]
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for redeeming a closed loop card/code funded with an amount of money. The system receives, at a merchant, an indication from a consumer of a desire to sell a closed loop account not issued by the merchant and receives a confirmation, via a computing device, of an amount of money in the closed loop account. The system presents the consumer with an offer to buy the closed loop account and receives from the consumer an acceptance of the offer. The system processes the closed loop account to yield a processed closed loop account such as by transferring the account to one of the merchant and an entity and applies a benefit to the consumer based on the processed closed loop account.

IPC Classes  ?

• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06Q 20/08 - Payment architectures
• G06Q 20/20 - Point-of-sale [POS] network systems
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for auctioning gift cards on the secondary market. The system can receive a prepaid debit account for resale from an owner and determine a face value for the prepaid debit account. The system can establish a floor price and offer the prepaid debit account for sale via an auction, starting at an initial price above the floor price and up to and including the face value, and can decrement the sale price at regular time intervals. The system can end the auction when a purchaser purchases the prepaid debit account at the decremented price. However, if no purchaser purchases the prepaid debit account before the decremented price is below the floor price, the system can purchase the prepaid debit account from the owner for the floor price. The system can store the prepaid debit account in an inventory for resale.

IPC Classes  ?

• G06Q 30/00 - Commerce
• G06Q 40/04 - Trading Exchange, e.g. stocks, commodities, derivatives or currency exchange
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G07F 17/42 - Coin-freed apparatus for hiring articlesCoin-freed facilities or services for ticket printing or like apparatus
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/38 - Payment protocolsDetails thereof
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising

Abstract

Systems, methods, and computer-readable media for preventing and detecting fraud in the secondary gift card market are disclosed herein. An example system can identify an event associated with a prepaid gift account associated with a secondary market for reselling prepaid gift accounts, the prepaid gift account having a verified initial balance established prior to the event. Based on the event, the system can perform a reverification of the verified initial balance of the prepaid gift account to yield an updated balance. If the verification indicates that the updated balance is different from the verified initial balance, the system can perform a corrective action. The event can be receiving the prepaid gift account, listing the prepaid gift account for sale, transferring the prepaid gift account between parties, converting the prepaid gift account to a different form, an elevated fraud risk, a user request, a regular balance checking interval, or random selection.

IPC Classes  ?

• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 30/06 - Buying, selling or leasing transactions

Abstract

Systems, methods, and computer-readable media for chopping up a gift card/code into smaller multiple gift card/codes. The system receives a request from a user to convert a closed-loop card/code having a value amount into two different closed-loop cards/codes and divides (or “chops up”) the closed-loop card/code into a first closed-loop card/code having a first value amount and a second closed-loop card/code having a second value amount, wherein the first value amount and the second value amount add up to no more than the value amount. The system offers the first closed-loop card/code and the second closed-loop card/code to one of the user and a third party.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 30/06 - Buying, selling or leasing transactions
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists

Abstract

A system and method provide for offering a consignment of a closed-loop card/code. The method includes presenting an offer associated with a closed-loop card/code to pay an offer amount, wherein the offer is triggered based on an occurrence of an event. The system receives an acceptance of the offer from a user and performs one of deactivating and suspending of the closed-loop card/code after receiving the acceptance. When the event occurs, the system notifies the user and pays an offer amount to the user after the event occurs.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising
• G06Q 30/06 - Buying, selling or leasing transactions
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists

Abstract

Systems, methods, and computer-readable media for preventing fraud when exchanging prepaid gift accounts. The system identifies a first prepaid gift account associated with a first prepaid gift. The system then presents an owner of the first prepaid gift with an offer to purchase the first prepaid gift account for an offer amount. Next, the system receives from the owner an acceptance of the offer. Based on the acceptance, the system provides payment to the owner for the first prepaid gift account, generates a second prepaid gift account for a second prepaid gift, transfers at least a portion of funds from the first prepaid gift account to the second prepaid gift account, deactivates the first prepaid gift account, and offers the second prepaid gift account for resale as a new prepaid gift to a person other than the owner.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for tracking a secondary gift card marketplace. A system configured to practice the method collects data related to a secondary market, which includes a transaction associated with a gift card, the transaction not involving an issuer of the gift card, processes the collected data, and presents at least a portion of the processed collected data in a user interface. The system can detect fraud in the secondary market. Gift cards can include at least one of gift cards and gift codes. The collected data can further include a plurality of transactions associated with gift cards. In one aspect, each gift card transaction in the plurality of gift card transaction does not involve an original issuing merchant of a gift card. The collected data can further include pricing, demographic, geographic, or other information related to the gift card transactions.

IPC Classes  ?

• G06Q 40/00 - FinanceInsuranceTax strategiesProcessing of corporate or income taxes
• G06Q 20/40 - Authorisation, e.g. identification of payer or payee, verification of customer or shop credentialsReview and approval of payers, e.g. check of credit lines or negative lists
• G07F 17/42 - Coin-freed apparatus for hiring articlesCoin-freed facilities or services for ticket printing or like apparatus
• G06Q 20/06 - Private payment circuits, e.g. involving electronic currency used only among participants of a common payment scheme
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"
• G06Q 20/38 - Payment protocolsDetails thereof
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising

Abstract

Systems, methods, and non-transitory computer-readable storage media for joint use of gift codes and coupon codes. This technology can provide a way to use both a gift code and a coupon code in a same transaction, to discover corresponding codes for a given code, and to easily complete purchases using a gift code and a coupon code. The system identifies a companion code associated with a first value, wherein the companion code is at least one of a deal code, a discount code, and a coupon code. The system identifies a gift code associated with a second value, wherein the companion code, when used to make a purchase in combination with the gift code, provides a discount. The system offers the gift code for sale, and, upon a user purchasing the gift code, transmits the gift code to the user for combined use with the companion code.

IPC Classes  ?

• G06Q 30/00 - Commerce

Abstract

Systems, methods, and computer-readable media for preventing fraud when exchanging prepaid gift accounts. The system identifies a first prepaid gift account associated with a first prepaid gift. The system then presents an owner of the first prepaid gift with an offer to purchase the first prepaid gift account for an offer amount. Next, the system receives from the owner an acceptance of the offer. Based on the acceptance, the system provides payment to the owner for the first prepaid gift account, generates a second prepaid gift account for a second prepaid gift, transfers at least a portion of funds from the first prepaid gift account to the second prepaid gift account, deactivates the first prepaid gift account, and offers the second prepaid gift account for resale as a new prepaid gift to a person other than the owner.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices

Abstract

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for tracking a secondary gift card marketplace. A system configured to practice the method collects data related to a secondary market, which includes a transaction associated with a gift card, the transaction not involving an issuer of the gift card, processes the collected data, and presents at least a portion of the processed collected data to a merchant in a user interface. Gift cards can include at least one of gift cards and gift codes. The collected data can further include a plurality of transactions associated with gift cards. In one aspect, each gift card transaction in the plurality of gift card transaction does not involve an original issuing merchant of a gift card. The collected data can further include at least one of pricing, demographic, geographic, and other information related to the gift card transactions.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices

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.

IPC Classes  ?

• G06K 7/01 - Methods or arrangements for sensing record carriers Details

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for redeeming a closed loop card/code funded with an amount of money. The system receives from a merchant point of sale an indication of use of a closed loop card/code not issued by the merchant and presented by a consumer, queries and receives a confirmation of an amount of money in an account associated with the closed loop card/code, presents the consumer with an offer to buy the closed loop card/code at a discount price, and upon accepting the offer, closes out the closed loop card/code and pays the discount price to the consumer. Paying the discount price can include applying the discount price to a purchase by the consumer at the merchant. The merchant can provide cash back to the consumer for excess value of the discount price over the consumer's purchase. Merchants can apply more than the discount price.

IPC Classes  ?

• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06F 7/08 - Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry
• G06Q 30/00 - Commerce
• G06Q 40/00 - FinanceInsuranceTax strategiesProcessing of corporate or income taxes
• G06Q 20/10 - Payment architectures specially adapted for electronic funds transfer [EFT] systemsPayment architectures specially adapted for home banking systems
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for generating a gift code. The system receives an indication from a first user identifying a closed loop card, receives a confirmation of an amount of money in an account associated with the closed loop card, offers to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card, and upon acceptance of the offer, deactivates the closed loop card. The system then offers to sell the amount of money at a discount rate to a second user, receives acceptance of the offer to sell the amount of money at the discount rate, and associates a gift code with the amount of money for use by the second user. Gift codes can have no expiration date. A multi-process secure gateway can confirm the amount of money.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06F 7/08 - Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry
• G06Q 30/02 - MarketingPrice estimation or determinationFundraising

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.

IPC Classes  ?

• G06K 7/01 - Methods or arrangements for sensing record carriers Details

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for redeeming a closed loop card/code funded with an amount of money. The system receives from a merchant point of sale an indication of use of a closed loop card/code not issued by the merchant and presented by a consumer, queries and receives a confirmation of an amount of money in an account associated with the closed loop card/code, presents the consumer with an offer to buy the closed loop card/code at a discount price, and upon accepting the offer, closes out the closed loop card/code and pays the discount price to the consumer. Paying the discount price can include applying the discount price to a purchase by the consumer at the merchant. The merchant can provide cash back to the consumer for excess value of the discount price over the consumer's purchase. Merchants can apply more than the discount price.

IPC Classes  ?

• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G06K 15/00 - Arrangements for producing a permanent visual presentation of the output data
• G06F 7/08 - Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry

Abstract

Disclosed herein are systems, methods, and computer-readable storage media for generating a gift code. The system receives an indication from a first user identifying a closed loop card, receives a confirmation of an amount of money in an account associated with the closed loop card, offers to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card, and upon acceptance of the offer, deactivates the closed loop card. The system then offers to sell the amount of money at a discount rate to a second user, receives acceptance of the offer to sell the amount of money at the discount rate, and associates a gift code with the amount of money for use by the second user. Gift codes can have no expiration date. A multi-process secure gateway can confirm the amount of money.

IPC Classes  ?

• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrierColumn-detection devices
• G07F 19/00 - Complete banking systemsCoded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
• G06F 7/08 - Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry
• G07F 17/42 - Coin-freed apparatus for hiring articlesCoin-freed facilities or services for ticket printing or like apparatus
• G06Q 20/28 - Pre-payment schemes, i.e. "pay before"