Spending vehicles for payments
January 14, 2020. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.Patent References 3596256 Default proof credit card method system Electronic income tax refund early payment system Method and system for providing verifiable line of credit information System and method for administration of incentive award program through use of credit Automated tax deposit processing system Electronic income tax refund early payment system with means for creating of a new deposit account for receipt of an electronically transferred refund from the IRS System for enhanced management of pension-backed credit Forms recognition management system and method System for the operation and management of one or more financial accounts through the use of a digital communication and computation system for exchange, investment and borrowing InventorApplicationNo. 09483537 filed on 01/14/2000US Classes:705/31, Tax preparation or submission705/35, Finance (e.g., banking, investment or credit)705/39, Including funds transfer or credit transaction705/14, Distribution or redemption of coupon, or incentive or promotion program235/380Credit or identification card systemsExaminersPrimary: Millin, VincentAssistant: Campen, Kelly Attorney, Agent or FirmForeign Patent References
International ClassG06F 17/60AbstractThe present invention is a system and method for associating payments with spending vehicles so that an individual who is entitled to receive periodic or special payments (e.g., Social Security checks, 401(k) distributions, dividend payments, tax refunds, etc.) may choose to receive in place of the payment a spending vehicle such as an e-card, a sponsor discount card, a sponsor rebate, or a sponsor coupon for use with purchases of the sponsor's products or services. Sponsors may 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 may be a sponsor of the spending vehicle or a financial institution that offers spending vehicles from a plurality of sponsors. If the spending vehicle is from a financial institution, the financial institution 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 financial institution may take a portion of the individual's payment as compensation for the service provided to the individual and the sponsor.Other References
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