Jason C Pratt

US Patent:

7752108, Jul 6, 2010

Filed:

Jul 6, 2007

Appl. No.:

11/774413

Inventors:

Jason W. Pratt - Austin TX, US
Bernard von NotHaus - Evansville IN, US

Assignee:

Liberty Payment Systems, LLC - Las Vegas NV

International Classification:

G06F 17/60

US Classification:

705 35

Abstract:

An apparatus, system, and method are disclosed for an asset backed purchase card. The present invention includes a house account comprising one or more assets, each of the one or more assets having a substantially continually updated spot purchase price. The invention receives funds from a consumer in exchange for a portion of the one or more assets from the house account based on an internal spot price of the asset, increasing a balance in a purchase account of the consumer. The purchase account is debited by selling a quantity of the asset backing the purchase account balance to the house account based on the internal spot price of the asset in response to a transaction based on a purchase card purchase by the consumer.

US Patent:

8296226, Oct 23, 2012

Filed:

Jul 2, 2010

Appl. No.:

12/829867

Inventors:

Jason W. Pratt - Austin TX, US
Bernard von NotHaus - Evansville IN, US

Assignee:

Liberty Gold International, Ltd - Wellington

International Classification:

G06Q 40/00

US Classification:

705 38, 705 35, 705 36 R, 705 37

Abstract:

An apparatus, system, and method are disclosed for an asset backed purchase card. The present invention includes a house account comprising one or more assets, each of the one or more assets having a substantially continually updated spot purchase price. The invention receives funds from a consumer in exchange for a portion of the one or more assets from the house account based on an internal spot price of the asset, increasing a balance in a purchase account of the consumer. The purchase account is debited by selling a quantity of the asset backing the purchase account balance to the house account based on the internal spot price of the asset in response to a transaction based on a purchase card purchase by the consumer.

US Patent:

20150154572, Jun 4, 2015

Filed:

Feb 11, 2015

Appl. No.:

14/620035

Inventors:

- Wellington, NZ
Jason W. Pratt - Austin TX, US

International Classification:

G06Q 20/06
G06Q 20/38
G06Q 20/20

Abstract:

An apparatus, system, and method are disclosed for extracting real world value from a virtual account by receiving point-of-sale information from a consumer, converting a real currency purchase amount to an equivalent virtual value, and processing the transaction. The point-of-sale information comprises a real currency purchase amount and account information, the account information determined from a bank card. Converting the real currency purchase amount utilizes a current real-to-virtual exchange rate associated with a virtual medium. The transaction is processed by debiting a current virtual value balance by the equivalent virtual value, the current virtual value balance associated with an account naming at least the consumer, the account determinable from the account information. Beneficially, the invention provides easy, real-world access to virtual value in a virtual medium.