OPEN NETWORK VIRTUAL PREPAID INSTRUMENT CREATION
Some embodiments may include various aspects of a virtual prepaid instrument. Some embodiments may include methods and systems for enrolling a merchant with a virtual prepaid instrument. Some embodiments may include methods and systems for authorizing a virtual prepaid instrument transaction. Some embodiments may include methods and systems for associating a user with a virtual prepaid instrument. In some embodiments, a single user and/or multiple merchants may be associated with a personal account number for a virtual prepaid instrument.
1 . A method comprising:
receiving merchant information comprising a graphic, a merchant name, and merchant transaction data;
creating a visual representation of a virtual prepaid instrument that includes at least a portion of the graphic and the merchant name;
providing the visual representation of the virtual prepaid instrument to users in a virtual prepaid instrument marketplace that includes a plurality of visual representations of virtual prepaid instruments;
receiving a request to purchase the virtual prepaid instrument from a first user for a second user, the purchase request comprising a received value;
determining a primary account number associated with the second user;
associating the virtual prepaid instrument, the primary account number, and the received value; and
sending a visual representation of the virtual prepaid instrument to the second user with a requested value.
2 . The method according to claim 1 , further comprising creating an entry in a database for the primary account number with the requested value.
3 . The method according to claim 2 , wherein the entry in the database includes the primary account number and at least one of a merchant ID, a merchant description, an application identifier, an acquiring bank identifier, and a merchant category code.
4 . The method according to claim 1 , wherein the first user and the second user are the same user.
5 . The method according to claim 1 , wherein the first user and the second user are different users, and wherein the purchase request comprises contact information for the second user.
6 . The method according to claim 1 , wherein the merchant transaction data comprises at least one of a merchant ID, a merchant description, and a merchant category code.
7 . The method according to claim 6 , further comprising associating at least a portion of the merchant transaction data with the virtual prepaid instrument account in a database.
8 . The method according to claim 1 , wherein the primary account number comprises a sixteen digit number or a nineteen digit number.
9 . The method according to claim 1 , wherein determining a primary account number associated with the user comprises:
determining whether the user is associated with a primary account number; and
in the event that the user is not associated with a primary account number, creating a primary account number for the user.
10 . The method according to claim 1 , wherein the graphic and the merchant name is received from the merchant through a webpage.
11 . The method according to claim 1 , wherein the merchant transaction data is received from the merchant through an open-loop transaction network.
12 . The method according to claim 1 , further comprising settling a transaction for the virtual prepaid instrument with the user for the transaction amount.
13 . A system comprising:
a database;
a network interface;
a processor coupled with the database and the network interface, the processor configured to:
receive merchant information comprising a graphic, a merchant name, and merchant transaction data;
create a visual representation of a virtual prepaid instrument that includes at least a portion of the graphic and the merchant name;
provide the visual representation of the virtual prepaid instrument to users in a virtual prepaid instrument marketplace that includes a plurality of visual representations of virtual prepaid instruments;
receive a request to purchase the virtual prepaid instrument from a first user for a second user, the purchase request comprising a received value;
determine a primary account number associated with the second user;
associate the virtual prepaid instrument, the primary account number, and the received value; and
send a visual representation of the virtual prepaid instrument to the second user with a requested value.
14 . The system according to claim 13 , wherein the processor is further configured to create an account in the database for the primary account number.
15 . The system according to claim 13 , wherein the first user and the second user are the same user.
16 . The system according to claim 13 , wherein the first user and the second user are different users, and wherein the purchase request comprises contact information for the second user.
17 . The system according to claim 13 , wherein the merchant transaction data comprises at least one of a merchant ID, a merchant description, and a merchant category code.
18 . The system according to claim 13 , wherein the processor is further configured to associate at least a portion of the merchant transaction data with the virtual prepaid instrument account in the database.
19 . The system according to claim 13 , wherein the primary account number comprises a sixteen digit number or a nineteen digit number.
20 . The system according to claim 13 , wherein to determine a primary account number associated with the user, the processor is further configured to:
determine whether the user is associated with a primary account number; and
in the event that the user is not associated with a primary account number, create a primary account number for the user.
21 . The system according to claim 13 , wherein the graphic and the merchant name is received from the merchant through a webpage.
22 . The system according to claim 13 , wherein the merchant transaction data is received from the merchant through an open-loop transaction network.
23 . The system according to claim 13 , wherein the processor is further configured to settle a transaction for the virtual prepaid instrument with the user for the transaction amount.