Importance

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Abstract

The present invention comprises a method of activating a prepaid account using an existing electronic funds transfer network which includes a point-of-sale (POS) terminal, debit/credit card processing infrastructure and an account insurer authorization center. The method comprises the steps of: obtaining identification data concerning the account to be activated at the POS terminal; sending an activation request message including, the obtained data, from the POS terminal through the card processing infrastructure to the account issuer authorization processing center; receiving the activation request message at the account insurer authorization processing center, deciding whether or not to activate the account and generating a denial/response code based upon the activation decision, the denial/response code not resulting in the transfer of any funds; sending the denial/response code from the account insurer authorization processing center, through the card processing infrastructure to the POS terminal; and receiving the denial/response code at the POS terminal, decoding the denial/response code and confirming at the POS terminal, the activation status of the account. In a preferred embodiment, the account being activated is a card, such as a prepaid card.

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First Claim