Systems and methods for facilitating transactions in open loop and closed loop networks

Abstract

Systems and methods for facilitating e-commerce transactions by providing systems and methods for executing transactions in both an open loop and closed loop networks.

1 . A system for enabling closed loop and open loop transactions, including one or more data processing devices in communication with memory and one or more data communication devices, the system comprising:
 a) a card including a magnetic stripe and a chip disposed thereon;   b) an application module configured to: (i) receive user data through the one or more data communication devices: and (ii) generate an open loop account and a closed loop account responsive to receiving user data, wherein the open loop account is associated with one or more open loop members and the chip disposed on the card, and the closed loop account is associated with at least one closed loop member and the magnetic stripe disposed on the card;   c) a transaction processing module configured to (i) receive transaction data through the one or more data communication devices, the transaction data relating to a transaction involving one of the open loop account or the closed loop account; and (ii) enable execution of the transaction responsive to transaction processing module determining based on the transaction data that the transaction is at least one of: (1) a closed loop transaction involving the transfer of funds from the closed loop account to the credit on a game device associated with the at least one closed loop member and initiated by use of the magnetic stripe in a magnetic stripe reading device of the game device; (2) an open loop transaction initiated by use of the chip in a chip reading device associated with the one or more open loop members; (3) an electronic funds transfer directly into one of the closed loop account or the open loop account; or (4) an electronic funds transfer directly between the open loop account and the closed loop account without an intermediary receiving any electronically transferred funds; and   d) a reporting module configured to communicate one or more of the transactions enabled for execution by the transaction processing module involving the closed loop account to the at least one closed loop member associated with the closed loop account.   
     
     
         2 . The system as recited in  claim 1 , wherein the application module provides a graphical user interface accessible through a global communication network. 
     
     
         3 . The system as recited in  claim 1 , wherein the transaction processing module provides a graphical user interface accessible through a global communication network. 
     
     
         4 . The system as recited in  claim 1 , wherein the reporting module communicates transaction data relating to the electronic funds transfer directly between the open loop account and the closed loop account without an intermediary receiving any electronically transferred funds. 
     
     
         5 . The system as recited in  claim 1 , wherein the closed loop transaction further comprises the transfer of credit on the game device to funds in the closed loop account. 
     
     
         6 . A system for enabling closed loop transactions and open loop transactions with one or more open loop members and closed loop members using a single card, including one or more data processing devices in communication with memory and one or more data communication devices, the system comprising:
 a) a card including a magnetic stripe and a chip;   b) an application module configured to receive user data through the one or more data communication devices, the receipt of user data facilitating the issuance of an open loop member account and a closed loop member account, the closed loop member account being enabled for the use of funds in one or more closed loop transactions involving an electronic game of chance associated with a closed loop member, and the open loop member account being enabled for execution of one or more open loop transactions involving one or more open loop members and disabled for use with the electronic game of chance;   b) a transaction processing module executed by the one or more processing devices, the transaction processing module being configured to receive transaction instructions from the one or more communication devices responsive to the use of the chip or magnetic stripe to initiate a transaction, wherein the transaction processing module identifies the transaction based on the transaction instructions and enables execution of the transaction responsive to the transaction being identified as at least one of: (1) a closed loop transaction involving the transfer of funds from the closed loop member account to add credit for play of the electronic game of chance associated with the closed loop member and initiated by use of the magnetic stripe in a magnetic stripe reading device of the electronic game of chance; (2) an open loop transaction initiated by use of the chip in a chip reading device associated with the one or more open loop members; (3) an electronic transfer of funds directly into one of the closed loop member account or the open loop member account; or (4) an electronic transfer of funds directly between the open loop member account and the closed loop member account without an intermediary receiving any electronically transferred funds; and   c) a reporting module configured to transmit notification to a data communication device associated with the closed loop member, the notification including the transaction instructions received relating to any electronic transfer of funds to the closed loop member account.   
     
     
         7 . The system as recited in  claim 6 , wherein the application module provides a graphical user interface accessible through a global communication network. 
     
     
         8 . The system as recited in  claim 6 , wherein the transaction processing module provides a graphical user interface accessible through a global communication network. 
     
     
         9 . The system as recited in  claim 6 , wherein each closed loop transaction is enabled by the transaction processing module only for use with the electronic game of chance associated with the closed loop member. 
     
     
         10 . The system as recited in  claim 6 , wherein the transaction processing module further enables execution of the transaction responsive to the transaction being identified as an electronic transfer of credit from the electronic game of chance to the closed loop account, the credit being converted to funds by the transaction processing module. 
     
     
         11 . A system for enabling closed loop transactions limited to at least one member of a closed loop network and open loop transactions limited to one or more members of an open loop network, the system including one or more data processing devices in communication with memory, one or more databases and one or more data communication devices, the system comprising:
 a) a card including a magnetic stripe and a chip;   b) a closed loop member account stored in the one or more databases, the closed loop member account being associated with the magnetic stripe and enabled for executing one or more closed loop transactions involving the at least one member of the closed loop network;   c) an open loop member account stored in the one or more databases, the open loop member account being associated with the chip and enabled for executing one or more open loop transactions involving one or more members of the open loop network;   d) a transaction processing module in communication with a closed loop operator terminal and an open loop operator terminal, wherein the transaction processing module receives transaction data associated with a transaction involving one of the closed loop member account or the open loop member account, and enables execution of the transaction responsive to the transaction data satisfying a preset criteria identifying the transaction as one of: (i) an open loop transaction initiated by use of the chip and involving the open loop member account and one or more members of the open loop network; (ii) a closed loop transaction initiated by use of the magnetic stripe and involving the closed loop member account and the at least one member of the closed loop network, wherein the closed loop operator terminal includes one or more electronic games associated with the at least one member of the closed loop network; (iii) an electronic funds transfer of a monetary amount into one of the open loop member account and the closed loop member account; and (iv) an electronic funds transfer of a monetary amount or amount of credit directly between the open loop member account and closed loop member account; and   d) a reporting module stored in the one or more databases, the reporting module transmitting notification to the at least one member of the closed loop network of the electronic funds transfer to the closed loop member account.   
     
     
         12 . The system as recited in  claim 11 , wherein the application module provides a graphical user interface accessible through a global communication network. 
     
     
         13 . The system as recited in  claim 11 , wherein the transaction processing module provides a graphical user interface accessible through a global communication network. 
     
     
         14 . The system as recited in  claim 11 , wherein the closed loop transaction is enabled by the transaction processing module only for the one or more electronic games associated with the member of the closed loop network.