Patent ID: 9679277
Date: 2017-06-13
CPC Classifications: G06Q

Claim:
1. A method comprising: receiving an indication from a mobile device at a location of a merchant of a desire to sell a closed loop account issued by another merchant not associated with the merchant, wherein the closed loop account is issued for use with a single company; receiving a confirmation, via a computing device, of an amount of money in the closed loop account by accessing a database of accounts from a multi-process secure gateway over the Internet; presenting, via the mobile device and over the Internet, a consumer with an offer to buy the closed loop account; receiving from the mobile device an acceptance of the offer; cancelling the closed loop account based on the acceptance to yield a cancelled closed loop account; and creating a new closed loop account issued by the merchant and only available for use at the merchant, the new closed loop account funded by at least a portion of funds from the cancelled closed loop account.