System and method for conducting a gift value transaction

Abstract

A system and method for conducting a gift value transaction is described herein. The method includes receiving a request for payment for a gift, wherein the request includes buyer-imposed conditions on use of the gift; notifying a gift recipient of the gift; and tracking the gift recipient's account balances at the different merchants with the buyer-imposed conditions.

What is claimed is: 
     
         1 . A system comprising:
 a non-transitory memory; and   one or more hardware processors coupled to the non-transitory memory and configured to read instructions from the non-transitory memory to cause the system to perform operations comprising:
 receiving, over a network connection, a gift purchase request; 
 processing, by the system, the gift purchase request; 
 depositing, by the system, funds for a purchase of a gift into a holding account, wherein the holding account is an intermediary account; and 
 distributing, by the system, the funds to a merchant upon acceptance of the gift and deducting the funds from the holding account. 
   
     
     
         2 . The system of  claim 1 , the operations further comprising:
 receiving a rejection of the gift; and   distributing the funds to the merchant upon selection of an alternate gift.   
     
     
         3 . The system of  claim 1 , wherein processing the gift purchase request includes gift purchase information specifying user account information associated with a user. 
     
     
         4 . The system of  claim 1 , the operations further comprising:
 transmitting, over the network connection, a notification of the gift to a gift recipient, wherein the notification includes prompting the gift recipient to accept or reject the gift.   
     
     
         5 . The system of  claim 4 , the operations further comprising:
 receiving, over the network connection, a response to the notification indicating the acceptance of the gift.   
     
     
         6 . The system of  claim 1 , wherein the gift purchase request includes at least one gift and merchants available for selection. 
     
     
         7 . The system of  claim 2 , wherein rejection of the gift includes a presentation of alternative gifts. 
     
     
         8 . A method, comprising:
 receiving, by a computer system from a first user, a gift purchase request for a purchase of a gift for a recipient, wherein the gift purchase request includes gift purchase information specifying user account information associated with the first user;   processing, by the computer system, the gift purchase information provided in the gift purchase request, including by:
 prior to a redemption of the gift by the recipient, deducting a gift purchase amount from an account associated with the first user; and 
 depositing the gift purchase amount into an intermediary holding account; and 
 responsive to receiving the redemption of the gift from the recipient, distributing at least a portion of the gift purchase amount from the intermediary holding account to an account associated with one or more merchants. 
   
     
     
         9 . The method of  claim 8 , wherein the gift purchase request includes at least one gift and merchants available for selection. 
     
     
         10 . The method of  claim 8 , further comprising:
 prior to the redemption of the gift, transmitting a notification of the gift to a gift recipient, wherein the notification includes prompting the gift recipient to accept or reject the gift.   
     
     
         11 . The method of  claim 10 , further comprising:
 receiving a response to the notification indicating acceptance of the gift.   
     
     
         12 . The method of  claim 8 , wherein in response to receiving the gift purchase request, the gift purchase amount is deducted from a user account associated with the first user. 
     
     
         13 . The method of  claim 9 , wherein the at gift purchase information includes an assigned merchant level and category. 
     
     
         14 . The method of  claim 9 , wherein the distributing of the at least the portion of the gift purchase amount occurs within a predetermined time limit. 
     
     
         15 . A non-transitory machine-readable medium having stored thereon machine-readable instructions executable to cause a machine to perform operations comprising:
 receiving a gift purchase request;   processing the gift purchase request;   depositing funds for a purchase of a gift into a holding account, wherein the holding account is an intermediary account; and   distributing the funds to a merchant upon acceptance of the gift and deducting the funds from the holding account.   
     
     
         16 . The non-transitory machine-readable medium of  claim 15 , further comprising:
 receiving a rejection of the gift; and   distributing the funds to the merchant upon selection of an alternate gift.   
     
     
         17 . The non-transitory machine-readable medium of  claim 15 , wherein processing the gift purchase request includes gift purchase information specifying user account information associated with a user. 
     
     
         18 . The non-transitory machine-readable medium of  claim 15 , further comprising:
 transmitting a notification of the gift to a gift recipient, wherein the notification includes prompting the gift recipient to accept or reject the gift.   
     
     
         19 . The non-transitory machine-readable medium of  claim 18 , further comprising:
 receiving a response to the notification indicating the acceptance of the gift.   
     
     
         20 . The non-transitory machine-readable medium of  claim 15 , wherein the gift purchase request includes at least one gift and merchants available for selection.