Method and apparatus for handling monetary transactions
First Claim
1. A method for transferring money from a sender to a receiver at a location different from the sender comprising:
- selecting a sender agent from a plurality of independent sender agents listed in a database;
selecting a receiver agent from a plurality of independent receiver agents listed in the database;
authorizing the sender agent to transfer the money to the receiver agent, wherein the authorization is transmitted over a data network;
sending information pertaining to the transfer of the money over the data network;
transferring the money from the sender agent to the receiver agent through a financial network, wherein the receiver agent gives the money to the receiver upon receiving the money from the financial network and wherein the sender agent and the receiver agent are independent of the financial network.
2 Assignments
0 Petitions
Accused Products
Abstract
A process for facilitating financial transactions between individuals residing in different locations. Independent sender agents and independent receiver agents handle the transactions, working through an intermediary and one or more financial institutions. An intermediary is established to function as a clearing house, guarantor, auctioneer, and/or tracker of the transaction. Information regarding the transactions are sent through a data network, such as via telephone or the Internet. The funds are sent through one or more financial mediums, such as by bank wires, ATM cards, smart cards, store credits, or similar financial vehicles. Thereby, the process functions to provide fast, safe, and economical monetary remittances.
40 Citations
23 Claims
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1. A method for transferring money from a sender to a receiver at a location different from the sender comprising:
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selecting a sender agent from a plurality of independent sender agents listed in a database;
selecting a receiver agent from a plurality of independent receiver agents listed in the database;
authorizing the sender agent to transfer the money to the receiver agent, wherein the authorization is transmitted over a data network;
sending information pertaining to the transfer of the money over the data network;
transferring the money from the sender agent to the receiver agent through a financial network, wherein the receiver agent gives the money to the receiver upon receiving the money from the financial network and wherein the sender agent and the receiver agent are independent of the financial network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A money remittance system, comprising:
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a plurality of sender agents, wherein each of the sender agents is an independent business entity;
a plurality receiver agents, wherein each of the receiver agents is an independent business entity;
a communications network coupling the plurality of sender agents with the plurality of receiver agents, wherein a sender gives money to one of the sender agents, the money is transferred by one of the sender agents to one of the receiver agents via a financial transaction, and the money is given to a receiver designated by the sender and conveyed over the communications network which is different than a medium used to effectuate the financial transaction. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A method for transferring money from a sender to a receiver, comprising:
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selecting a particular sender agent from a plurality of independent sender agents;
selecting a particular receiver agent from a plurality of independent receiver agents;
authorizing a selected sender agent to transfer the money to a receiver agent;
transferring the money from the selected sender agent to the selected receiver agent through a financial transaction medium; and
sending information pertaining to the money transfer over a network. - View Dependent Claims (18, 19)
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20. A method of facilitating a money transfer between a sender and a receiver located at a distance away from the sender by an intermediary, comprising:
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listing information pertaining to a plurality of agents on a web site;
accepting a selection by the sender for one of the agents to become a sender agent;
accepting a selection by the sender for one of the agents to become a receiver agent;
transferring the money from the sender agent to the receiver agent by a first medium used to handle financial transactions;
aiding in transmission of information pertaining to the financial transaction by a second medium used to transmit data. - View Dependent Claims (21, 22, 23)
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Specification