SYSTEM AND METHOD FOR TRANSFERRING REDEMPTION RIGHTS TO GIFT CARDS
Disclosed herein are systems, methods, and non-transitory computer-readable storage media for managing regifting of a group gift wherein a recipient or purchaser of the gift and givers are all registered with the system using their payment accounts in advance and a policy manages money transfers for the gift. The system identifies a recipient and a recipient payment account associated with the policy that provides that upon detecting a qualifying transaction using the recipient payment account, a gift amount is transferred to the recipient payment account. The system receives a request to modify the policy based on identification of a new recipient and identifies an associated new recipient payment account. In response to the request, the system modifies the policy such that at least a portion of the gift amount is transferred to the new recipient account upon detecting the qualifying transaction using the new recipient account.
1 . A method comprising:
identifying a recipient and a recipient payment account associated with a policy established at a first time, wherein:
the policy provides that when a qualifying transaction using the recipient payment account is detected, a gift amount is transferred to the recipient payment account;
a giver of the gift amount is associated with a giver payment account;
the giver payment account and the recipient payment account each existed prior to the first time; and
the giver payment account is independent of the recipient payment account;
receiving a request to modify the policy based on an identification of a new recipient;
identifying a new recipient payment account associated with the new recipient; and
in response to the request, modifying the policy such that at least a portion of the gift amount is transferred to the new recipient account upon detecting the qualifying transaction using the new recipient account.
2 . The method of claim 1 , wherein the portion of the gift amount is user-selectable.
3 . The method of claim 1 , wherein modifying the policy comprises removing the recipient from the policy.
4 . The method of claim 1 , wherein the recipient remains associated with the policy.
5 . The method of claim 1 , further comprising sending notifications of modifying the policy to at least one of the recipient and the new recipient.
6 . The method of claim 1 , wherein the request originates from an authorized person.
7 . The method of claim 6 , wherein the authorized person comprises at least one of the recipient, the giver, and the new recipient.
8 . The method of claim 1 , wherein the new recipient must approve the request prior to the policy being modified.
9 . The method of claim 1 , wherein the recipient can choose a size of the portion of the gift amount.
10 . The method of claim 1 , wherein modifying the policy comprises merging two policies.
11 . The method of claim 1 , wherein modifying the policy further comprises automatically modifying the policy based on a triggering event.
12 . The method of claim 1 , wherein the new recipient is the giver.
13 . A system comprising:
a processor;
a non-transitory computer readable storage medium storing instructions for controlling the processor to perform steps comprising:
identifying a recipient and a recipient payment account associated with a policy established at a first time, wherein:
the policy provides that when a qualifying transaction using the recipient payment account is detected, a gift amount is transferred to the recipient payment account;
a giver of the gift amount is associated with a giver payment account;
the giver payment account and the recipient payment account each existed prior to the first time; and
the giver payment account is independent of the recipient payment account;
receiving a request to modify the policy based on an identification of a new recipient;
identifying a new recipient payment account associated with the new recipient; and
in response to the request, modifying the policy such that at least a portion of the gift amount is transferred to the new recipient account upon detecting the qualifying transaction using the new recipient account.
14 . The system of claim 13 , wherein the request originates from an authorized person.
15 . The system of claim 14 , wherein the authorized person comprises at least one of the recipient, the giver, and the new recipient.
16 . The system of claim 13 , wherein the new recipient must approve the request prior to the policy being modified.
17 . The system of claim 13 , wherein the recipient can choose a size of the portion of the gift amount.
18 . The system of claim 13 , wherein modifying the policy comprises merging two policies.
19 . The system of claim 13 , wherein modifying the policy further comprises automatically modifying the policy based on a triggering event.
20 . The system of claim 13 , wherein the new recipient is the giver.
21 . A non-transitory computer readable storage medium storing instructions for controlling a processor to perform steps comprising:
identifying a recipient and a recipient payment account associated with a policy established at a first time, wherein:
the policy provides that when a qualifying transaction using the recipient payment account is detected, a gift amount is transferred to the recipient payment account;
a giver of the gift amount is associated with a giver payment account;
the giver payment account and the recipient payment account each existed prior to the first time; and
the giver payment account is independent of the recipient payment account;
receiving a request to modify the policy based on an identification of a new recipient;
identifying a new recipient payment account associated with the new recipient; and
in response to the request, modifying the policy such that at least a portion of the gift amount is transferred to the new recipient account upon detecting the qualifying transaction using the new recipient account.