Patent ID: 11928676
Assignee: BREAD FINANCIAL PAYMENTS, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A method for providing a short-term authorized pass from a first party to a second party, the method comprising:
receiving, at a credit account management system, a request for a short-term authorized pass to be provided from a credit account of the first party to the second party,
the request comprising:
an amount to be allocated to the short-term authorized pass, and
an identifier for the second party;

generating a sub-account from the credit account, comprising:
allocating a part of the credit account to form a sub-account;
setting a credit limit on the sub-account to the amount to be allocated;
assigning a virtual account number (VAN) to the sub-account; and
generating the short-term authorized pass using the VAN of the sub-account, the short-term authorized pass is generated in a digital format;
electronically transmitting, from the credit account management system and to a mobile device of the second party, the short-term authorized pass, wherein no funds are taken from the credit account of the first party until the short-term authorized pass is used, said short-term authorized pass comprises:
a scannable code;

automatically adding said short-term authorized pass to a digital wallet on said mobile device of said second party when said short-term authorized pass is received at said mobile device of said second party;
performing a transaction with said authenticated short-term authorized pass;
providing an indicator to the first party when the short-term authorized pass is used to make a purchase; and
reducing said credit limit on said sub-account by an amount of money spent for said transaction.