Methods and system for utilizing cash with online activities

• US 10,115,085 B2
• Filed: 02/28/2013
• Issued: 10/30/2018
• Est. Priority Date: 05/12/2011
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Clausen, Jason, Smith, Gordon, Hutcheson, Katie, Parvis, Joseph Anthony, Thomas, Paul
• Primary Examiner(s): Hamilton, Sara C
• Application Number:
  US13/781,498
• Publication Number:
  US 20130179342A1
• Time in Patent Office: 2,070 Days
• Field of Search: 705 39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes

Abstract

Systems and methods for facilitating cash payments for online transactions are provided. In some embodiments, a transaction is initiated online with a retailer where a user indicates that payment will be made for the transaction using cash. The user may then complete payment of the transaction with a cash payment service establishment using transaction identification information given to the user. Systems and methods for retrieving funds from an online/virtual account are also provided. In some embodiments, a user is able to initiate a funds transfer from an online/virtual account which are to be received in the form of cash at a money transfer service location.

Claims

1. A method of establishing access to a cash money transfer system for a third-party system, said method comprising:

establishing, by a processing device of the cash money transfer system, a communication link between the third-party system and the cash money transfer system, wherein the third-party system uses an account-based protocol, and the cash money transfer system uses a cash-based protocol, wherein the third-party system includes an online financial service provider that administers online accounts that maintain financial balances, the online accounts including an online financial resource of a customer, and wherein accessing funds within the third-party system according to the account-based protocol requires distributing the funds from one of the online accounts to another one of the online accounts;

receiving, by the processing device of the cash money transfer system, via the communication link, data describing a transaction from the third-party system, wherein the data includes funds to be received at the cash money transfer system from the online financial resource of the customer;

generating, based on the received data, by the processing device of the cash money transfer system, a cash-based transaction to be executed according to the cash-based protocol of the cash money transfer system; and

executing, by the processing device of the cash money transfer system, the cash-based transaction according to the cash-based protocol of the cash money transfer system, wherein the executing includes;

receiving the funds from the online financial resource of the customer at the money transfer system;

identifying the customer at an agent location of the cash money transfer system; and

distributing the funds received from the online financial resource of the customer, in cash form, to the identified customer at the agent location of the cash money transfer system such that the customer receives the funds without transferring the funds to a bank account and without cashing a check.

2. The method of claim 1, wherein the distributing the funds received from the online financial resource of the customer to the identified customer comprises subtracting a service fee from the distributed funds.

3. The method of claim 1, wherein the distributing the funds comprises distributing the funds in a different currency than the funds received from the online financial resource of the customer.

4. The method of claim 1 further comprising receiving, prior to the receiving the data describing the transaction, funds in said online financial resource that are derived from different currencies.

5. A non-transitory computer-readable medium for establishing access to a cash money transfer system for a third-party system, said non-transitory computer-readable medium comprising instructions for causing one or more processors to:

establish a communication link between the third-party system and the cash money transfer system, wherein the third-party system uses an account-based protocol, and the cash money transfer system uses a cash-based protocol, wherein the third-party system includes an online financial service provider that administers online accounts that maintain financial balances, the online accounts including an online financial resource of a customer, and wherein accessing funds within the third-party system according to the account-based protocol requires distributing the funds from one of the online account to another one of the online accounts;

receive, via the communication link, data describing a transaction from the third-party system, wherein the data includes funds to be received at the cash money transfer system from the online financial resource of the customer;

generate, based on the received data, a cash-based transaction to be executed according to the cash-based protocol of the cash money transfer system; and

execute the cash-based transaction according to the cash-based protocol of the cash money transfer system, wherein the instructions for causing the one or more processors to execute include instructions for causing the one or more processors to;

receive the funds from the online financial resource of the customer at the money transfer system;

identify the customer at an agent location of the cash money transfer system; and

distribute the funds received from the online financial resource of the customer, in cash form, to the identified customer at the agent location of the cash money transfer system such that the customer receives the funds without transferring the funds to a bank account and without cashing a check.

6. The non-transitory computer-readable medium of claim 5, wherein the instructions for causing the one or more processors to distribute the funds received from the online financial resource of the customer to the identified customer comprises instructions for causing the one or more processors to subtract a service fee from the distributed funds.

7. The non-transitory computer-readable medium of claim 5, wherein the instructions for causing the one or more processors to distribute the funds comprises instructions for causing the one or more processors to distribute the funds in a different currency than the funds received from the online financial resource of the customer.

8. The non-transitory computer-readable medium of claim 5 further comprising instructions for causing the one or more processors to receive, prior to receiving the data describing the transaction, funds in said online financial resource that are derived from different currencies.