Patent ID: 9117242
Filing Date: 2015-08-25
Classification: G06Q

Abstract:
1. A computer-implemented method performed by one or more processors of a mobile wallet computer system, comprising: sending, by network interface logic of the mobile wallet computer system, a message to a mobile device of a user to inform the user that a merchant issued stored value card with a balance may be used at a merchant that is located within a first predetermined distance of a location of the mobile device; receiving, by the network interface logic of the mobile wallet computer system, a request from the mobile device to initiate a transaction; receiving, by the network interface logic of the mobile wallet computer system, a selection from the mobile device of the merchant issued stored value card from among one or more merchant issued stored value cards as a payment option for the transaction; receiving, by the network interface logic of the mobile wallet computer system, information for the selected merchant issued stored value card from the mobile device; authenticating the transaction by verifying, by location verification logic of the mobile wallet computer system, that the location of the mobile device is within a second predetermined distance of a location of the merchant; upon authenticating the transaction, transferring, by account processing logic of the mobile wallet computer system, funds from the balance of the merchant issued stored value card to the merchant; and reducing, by the account processing logic of the mobile wallet computer system, the balance of the merchant issued stored value card by the amount of the transferred funds.