System and method for a mobile wallet

• US 10,169,756 B1
• Filed: 12/30/2016
• Issued: 01/01/2019
• Est. Priority Date: 04/25/2012
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Ellis, Stephen M., Kennedy, Michael J., Kurani, Ashish Bhoopen, Lowry, Melissa, Meyyappan, Uma, Sahni, Bipin M., Stroke, Nikolai
• Primary Examiner(s): Poinvil, Frantzy
• Application Number:
  US15/395,935
• Time in Patent Office: 732 Days
• Field of Search: 705 3- 44
• CPC Class Codes: G06K 19/06028 using bar codes
• CPC Class Codes: G06K 7/1413 1D bar codes
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3274 using a pictured code, e.g. barcode or QR-code, being displayed on the M-device
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0261 based on user location
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A computer-implemented system and method includes receiving a first geographic location of a mobile device when a mobile wallet transaction is initiated, receiving a second geographic location of the mobile device after the mobile wallet transaction is initiated, comparing the first and second geographic locations to ensure a match, permitting the mobile device to process the mobile wallet transaction upon determining that the first and second geographic locations of the mobile device are within a predefined distance of each other, and transferring funds to a merchant after verifying that the second geographic location of the mobile device is within a predetermined distance of a location of the merchant.

Claims

1. A computer-implemented method, comprising:

directing a mobile device to capture a first geographic location of the mobile device when a mobile wallet transaction is initiated;

receiving the first geographic location and a code comprising location information of a merchant and a transaction identification number from the mobile device;

determining, based on the code, a second geographic location of the mobile device after the mobile wallet transaction is initiated, wherein the second geographic location of the mobile device is based on the location information of the merchant;

comparing the first and second geographic locations to ensure a match;

permitting the mobile device to process the mobile wallet transaction upon determining that the first and second geographic locations of the mobile device are within a predefined distance of each other;

directing the mobile device to amend the code to include authentication information for a financial institution associated with a user;

directing the financial institution to receive the amended code from the mobile device to transfer funds from an account held by the user to the merchant; and

transferring funds to a merchant after verifying that the second geographic location of the mobile device is within a predetermined distance of a location of the merchant.

2. The method of claim 1, further comprising:

sending a request to a user of the mobile device for approval to transfer funds; and

transferring funds to the merchant from the account associated with the user upon receiving approval from the user.

3. The method of claim 1, further comprising:

analyzing transaction information to determine a spending pattern of a user of the mobile device, wherein the spending pattern includes determining which time of day, week, month or year the user purchases products or services from one or more merchants; and

presenting at least one offer to the user based on the spending pattern.

4. The method of claim 3, wherein the at least one offer is based on the first or second geographic location.

5. The method of claim 1, further comprising:

determining that the second geographic location is inside of a predetermined geographic region prior to permitting the mobile device to process the mobile wallet transaction.

6. A computer system, comprising a processor coupled to a non-transitory memory, wherein the processor is configured to:

direct a mobile device to capture a first geographic location of the mobile device when a mobile wallet transaction is initiated;

receive the first geographic location and a code comprising location information of a merchant and a transaction identification number from the mobile device;

determine, based on the code, a second geographic location of the mobile device after the mobile wallet transaction is initiated, wherein the second geographic location of the mobile device is based on the location information of the merchant;

compare the first and second geographic locations to ensure a match;

permit the mobile device to process the mobile wallet transaction upon determining that the first and second geographic locations of the mobile device are within a predefined distance of each other;

direct the mobile device to amend the code to include authentication information for a financial institution associated with a user;

direct the financial institution to receive the amended code from the mobile device to transfer funds from an account held by the user to the merchant; and

transfer funds to a merchant after verifying that the second geographic location of the mobile device is within a predetermined distance of a location of the merchant.

7. The system of claim 6, wherein the processor is further configured to:

send a request to a user of the mobile device for approval to transfer funds; and

transfer funds to the merchant from the account associated with the user upon receiving approval from the user.

8. The system of claim 6, wherein the processor is further configured to:

analyze transaction information to determine a spending pattern of a user of the mobile device, wherein the spending pattern includes determining which time of day, week, month or year the user purchases products or services from one or more merchants; and

present at least one offer to the user based on the spending pattern.

9. The system of claim 8, wherein the at least one offer is based on the first or second geographic location.

10. The system of claim 6, wherein the processor is further configured to:

determine that the second geographic location is inside of a predetermined geographic region prior to permitting the mobile device to process the mobile wallet transaction.

11. A non-transitory machine-readable media having computer-executable instructions embodied therein that, when executed by a processor of a computing system, cause the computing system to perform a process including:

directing a mobile device to capture a first geographic location of the mobile device when a mobile wallet transaction is initiated;

receiving the first geographic location and a code comprising location information of a merchant and a transaction identification number from the mobile device;

determining, based on the code, a second geographic location of the mobile device after the mobile wallet transaction is initiated, wherein the second geographic location of the mobile device is based on the location information of the merchant;

comparing the first and second geographic locations to ensure a match;

permitting the mobile device to process the mobile wallet transaction upon determining that the first and second geographic locations of the mobile device are within a predefined distance of each other;

directing the mobile device to amend the code to include authentication information for a financial institution associated with a user;

directing the financial institution to receive the amended code from the mobile device to transfer funds from an account held by the user to the merchant; and

transferring funds to a merchant after verifying that the second geographic location of the mobile device is within a predetermined distance of a location of the merchant.

12. The machine-readable media of claim 11, having computer-executable instructions embodied therein that, when executed by a processor of a computing system, cause the computing system to perform a process further comprising:

sending a request to a user of the mobile device for approval to transfer funds; and

transferring funds to the merchant from the account associated with the user upon receiving approval from the user.

13. The machine-readable media of claim 11, having computer-executable instructions embodied therein that, when executed by a processor of a computing system, cause the computing system to perform a process further comprising:

analyzing transaction information to determine a spending pattern of a user of the mobile device, wherein the spending pattern includes determining which time of day, week, month or year the user purchases products or services from one or more merchants; and

presenting at least one offer to the user based on the spending pattern.

14. The machine-readable media of claim 13, wherein the at least one offer is based on the first or second geographic location.

15. The machine-readable media of claim 11, having computer-executable instructions embodied therein that, when executed by a processor of a computing system, cause the computing system to perform a process further comprising:

determining that the second geographic location is inside of a predetermined geographic region prior to permitting the mobile device to process the mobile wallet transaction.