18544496. DATABASE MANAGEMENT FOR STORED VALUE MEDIUMS simplified abstract (Capital One Services, LLC)

DATABASE MANAGEMENT FOR STORED VALUE MEDIUMS

Organization Name

Capital One Services, LLC

Inventor(s)

Benjamin Yin of Mc Lean VA (US)

Lee Adcock of Midlothian VA (US)

Nahid Farhady Ghalaty of Fairfax VA (US)

DATABASE MANAGEMENT FOR STORED VALUE MEDIUMS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18544496 titled 'DATABASE MANAGEMENT FOR STORED VALUE MEDIUMS

Simplified Explanation

The abstract describes a system where a device receives information associated with a stored value medium, populates a database with this information, links it to an entity identifier, and facilitates an exchange not directly related to the stored value medium by utilizing the resources associated with it.

• Device receives information about a stored value medium
• Populates a database with this information and links it to an entity identifier
• Facilitates an exchange not directly related to the stored value medium
• Utilizes the resources associated with the stored value medium to complete the exchange

Potential Applications

This technology could be applied in various industries such as finance, retail, and e-commerce for managing stored value mediums and facilitating exchanges between entities.

Problems Solved

1. Efficiently linking information about stored value mediums to entities for seamless exchanges. 2. Leveraging the resources associated with stored value mediums for transactions not directly related to them.

Benefits

1. Streamlined process for completing exchanges using stored value mediums. 2. Enhanced security and accuracy in managing information related to stored value mediums. 3. Improved efficiency in utilizing resources associated with stored value mediums.

Potential Commercial Applications

Optimizing Stored Value Medium Exchange System for Enhanced Transactions

Possible Prior Art

There may be existing systems or methods for linking information about stored value mediums to entities and facilitating exchanges using the resources associated with them. Researching prior patents or technologies in this field could provide more insights.

How does the system ensure the security of the information stored in the database?

The abstract does not provide details on the security measures implemented to protect the information associated with the stored value mediums and entity identifiers. It would be important to understand how the system safeguards sensitive data from unauthorized access or breaches.

What types of exchanges can be facilitated using this system?

The abstract mentions facilitating exchanges not directly related to the stored value medium, but it does not specify the range or nature of these exchanges. It would be beneficial to know the scope of transactions that can be supported by this system.

Original Abstract Submitted

In some implementations, a device may receive an indication of information associated with a stored value medium. The device may populate a database with the information associated with the stored value medium, where the database includes a table to link the information associated with the stored value medium with an entity identifier of an entity associated with the stored value medium. The device may receive an indication of an exchange associated with the entity identifier of the entity, where the exchange is not associated with the stored value medium. The device may parse the database using the entity identifier associated with the entity to identify the information associated with the stored value medium indicated in the database. The device may communicate, with a backend system, to enable the exchange to be at least partially completed using the resources associated with the stored value medium.