System and method for preventing fraud in the secondary market for gift cards
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United States of America Patent
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Feb 2, 2016
Grant Date -
Aug 14, 2014
app pub date -
Apr 22, 2014
filing date -
Feb 9, 2009
priority date (Note) -
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Abstract
Systems, methods, and computer-readable media for preventing and detecting fraud in the secondary gift card market are disclosed herein. An example system can identify an event associated with a prepaid gift account associated with a secondary market for reselling prepaid gift accounts, the prepaid gift account having a verified initial balance established prior to the event. Based on the event, the system can perform a reverification of the verified initial balance of the prepaid gift account to yield an updated balance. If the verification indicates that the updated balance is different from the verified initial balance, the system can perform a corrective action. The event can be receiving the prepaid gift account, listing the prepaid gift account for sale, transferring the prepaid gift account between parties, converting the prepaid gift account to a different form, an elevated fraud risk, a user request, a regular balance checking interval, or random selection.
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