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

Claim 9:
10. A non-transitory computer-readable medium for storing instructions, the instructions comprising:
one or more instructions which, when executed by one or more processors, cause one or more processors to:
receive, at a credit account of a first party and from the first party, a request for a short-term authorized pass to be generated from the credit account of the first party and provided to a second party,
the request comprises an amount to be allocated to the short-term authorized pass;

receive, at the credit account of the first party and from the first party, an identifier for the second party;
generate a sub-account from the credit account, wherein the one or more processors:
allocate a part of the credit account to form a sub-account;
set a credit limit on the sub-account to the amount identified by the first party;
assign a virtual account number (VAN) to the sub-account;
link the VAN of the sub-account to the credit account; and
generate the short-term authorized pass using the VAN of the sub-account, the short-term authorized pass generated in a digital format, said short-term authorized pass comprises:

a scannable code;
electronically transmit, from the credit account of the first party 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 electronic transmission includes an instruction to cause said short-term authorized pass to be automatically added 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;
perform a transaction with said authenticated short-term authorized pass;
provide an indicator to said first party when said short-term authorized pass is used to make a purchase; and
reduce said credit limit on said sub-account by an amount of money spent for said transaction.