System and method for facilitating a transaction using a revolving use account associated with a primary account

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United States of America Patent

PATENT NO 8538863
SERIAL NO

10711963

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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The present invention facilitates transactions by providing a revolving use account that is associated with a primary account number, wherein the revolving use account is presented to the merchant to initiate a transaction. More particularly, the system involves the process of registering a user's primary account (if not already pre-registered) to use in a transaction system; generating a revolving use account and issuing this number one or more separate users and/or transaction devices, where the user presents this revolving use account to a merchant to complete a transaction. Additionally, the revolving use account may also carry with it certain limitations-on-use conditions, where a transaction is not authorized unless these conditions are met. In generating a revolving use account, the issuer generates a random number and associates this number with the user's primary charge account.

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Patent Owner(s)

Patent OwnerAddressTotal Patents
III HOLDINGS 1, LLCWILMINGTON, DE884

International Classification(s)

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Saunders, Peter D Salt Lake City, US 144 6474

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