SYSTEM AND METHOD FOR PROCESSING A GIFT CARD VIA THE CLOUD
Disclosed herein are systems, methods, and non-transitory computer-readable storage media for splitting a transaction among multiple participants. A system configured to practice the method first receives, at a first time, from a payor an identification of a payee and a policy, the payee having a payee account that was registered with a service provider prior to the first time. The system monitors, after the first time, purchasing transactions of the payee using the payee account for a qualified purchase according to the policy, wherein the policy, as defined by the payor, excludes a defined item. When the payee makes the qualified purchase by purchasing an item other than the defined item at a second time, which is later than the first time, the system transfers an amount of money into the payee account to pay for at least part of the qualified purchase.
1 . A method comprising:
receiving, at a first time, from a payor an identification of a payee and a policy, the payee having a payee account that was registered with a service provider prior to the first time;
monitoring, via a processor and after the first time, purchasing transactions of the payee using the payee account for a qualified purchase according to the policy, wherein the policy, as defined by the payor, excludes a defined item; and
when the payee makes the qualified purchase by purchasing an item other than the defined item at a second time which is later than the first time, transferring an amount of money into the payee account to pay for at least part of the qualified purchase.
2 . The method of claim 1 , wherein the defined item is identified by an SKU number.
3 . The method of claim 1 , wherein the defined item is included within a category and wherein the policy, as defined by the giver, identifies the category.
4 . The method of claim 1 , wherein the policy excludes the defined item because the policy excludes a merchant selling the item.
5 . The method of claim 1 , wherein the defined item is a service.
6 . The method of claim 1 , wherein the payee account is one of an open loop credit account and an open loop debit account.
7 . The method of claim 1 , wherein the amount of money transferred into the payee account is drawn from one of a holding account and a payor account.
8 . A system comprising:
a processor; and
a computer-readable storage device storing instructions, which, when executed by the processor cause the processor to perform operations comprising:
receiving, at a first time, from a payor an identification of a payee and a policy, the payee having a payee account that was registered with a service provider prior to the first time;
monitoring, via a processor and after the first time, purchasing transactions of the payee using the payee account for a qualified purchase according to the policy, wherein the policy, as defined by the payor, excludes a defined item; and
when the payee makes the qualified purchase by purchasing an item other than the defined item at a second time which is later than the first time, transferring an amount of money into the payee account to pay for at least part of the qualified purchase.
9 . A non-transitory computer-readable storage device storing instructions which, when executed by a computing device, cause the computing device to perform operations comprising:
receiving, at a first time, from a payor an identification of a payee and a policy, the payee having a payee account that was registered with a service provider prior to the first time;
monitoring, via a processor and after the first time, purchasing transactions of the payee using the payee account for a qualified purchase according to the policy, wherein the policy, as defined by the payor, excludes a defined item; and
when the payee makes the qualified purchase by purchasing an item other than the defined item at a second time which is later than the first time, transferring an amount of money into the payee account to pay for at least part of the qualified purchase.