Systems, methods and devices for selling transaction instruments
View Patent ↗The present invention generally relates to a system and method for distributing an open transaction instrument. The system includes the steps of: accessibly offering for sale, in a retail environment, the open transaction instrument; selling a selected open transaction instrument; and enabling the use of the open transaction instrument. The transaction instrument may be, for example, an open pre-paid card. Furthermore, accessibly offering the open pre-paid card for sale, in one exemplary embodiment, is performed by hanging the pre-paid card on a rack. The distribution of the open transaction instrument may also comprise the step of sending a message, in substantially real time, causing the pre-paid open transaction instrument to be funded but not activated. Also, in accordance with further exemplary embodiments of the present invention, an issuer system is suitably configured to leverage existing infrastructure for inventory and related processes.
1. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:
offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, wherein the open transaction instrument does not require use of a personal identification number (PIN), wherein the open transaction instrument is associated with a transaction account, and wherein the open transaction instrument comprises at least one of a pre-paid card, a credit card, and a debit card that is accepted at a plurality of merchants that are not directly affiliated with each other;
facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer;
visibly displaying a tracking code on the open transaction instrument; and
associating a randomized card number with the open transaction instrument.
2. The method of claim 1 , wherein associating a randomized card number with the open transaction instrument comprises at least one of embossing and printing the randomized card number on the open transaction instrument.
3. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:
offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, and wherein the open transaction instrument does not require use of a personal identification number (PIN), wherein the open transaction instrument is associated with a transaction account, and wherein the open transaction instrument is accepted at a plurality of merchants that are not directly affiliated with each other;
facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer;
causing at least one of a package and the open transaction instrument to include a tracking code; and
causing a card number to be displayed on the open transaction instrument.
4. The method of claim 3 , wherein the tracking code is included in at least one of a: numerical format, bar code format, and magnetic stripe format; and wherein the card number is displayed on the open transaction instrument by at least one of embossing and printing the card number on the open transaction instrument, and wherein the open transaction instrument comprises at least one of a pre-paid card, a credit card, and a debit card.
5. A method for distributing an open transaction instrument, in a retail environment, comprising the steps of:
offering the open transaction instrument to a consumer, wherein the open transaction instrument is directly accessible by the consumer, wherein the open transaction instrument is configured to be generally accepted by merchants that are not directly affiliated with each other, wherein the open transaction instrument does not require use of a personal identification number (PIN), and wherein the open transaction instrument is associated with a transaction account;
facilitating the funding of the open transaction instrument when the open transaction instrument is purchased by the consumer; and
causing a card number to be displayed on the open transaction instrument, wherein a tracking code is included on at least one of: a package and the open transaction instrument.
6. The method of claim 5 , wherein the tracking code is included in at least one of a: numerical format, code format, bar code format, radio frequency format and magnetic stripe format.