Patent ID: 9436942
Filing Date: 2016-09-06
CPC Classification: G06Q

Claim Text:
1. A method comprising: receiving, by a gift card server comprising a processor, an activation request for a variable gift card that is associated with a first merchant and has a value comprising a first amount that is held in an escrow account of a service provider, wherein the first merchant is not paid prior to the activation request and the service provider is different from the first merchant and a second merchant, wherein the variable gift card is associated with a restriction placed by a purchaser of the variable gift card, wherein the restriction comprises a type of merchant and prohibits certain merchants, and wherein the activation request is received from a mobile device associated with a recipient of the variable gift card; causing, by the gift card server, placement of the variable gift card in a mobile wallet associated with the recipient; receiving, by the gift card server, a bid from the second merchant, the bid specifying the second amount, wherein the second amount is greater than the first amount and is offered with an identification of the second merchant; receiving, by the gift card server, an acceptance of the bid, the acceptance of the bid being subject to the restriction; querying, by the gift card server and via a user interface associated with the mobile device, the recipient to determine if the variable gift card should be switched from being associated with the first merchant and having the value comprising the first amount to being associated with the second merchant and having the value comprising a second amount that is different from the first amount; receiving, by the gift card server and from the mobile device, an indication that the variable gift card should be switched to being associated with the second merchant and having the value comprising the second amount; associating, by the gift card server, the variable gift card with the second merchant; defining, by the gift card server, the value of the variable gift card as the second amount; transferring, by the gift card server, the first amount from the escrow account to the second merchant; activating, by the gift card server, the variable gift card; receiving, by the gift card server and from the second merchant, an activation confirmation for the variable gift card; forwarding, by the gift card server, the activation confirmation to the mobile device; and causing, by the gift card server, placement of the variable gift card for the second merchant in the mobile wallet.