Method and system for transferring money

• US 20040024697A1
• Filed: 07/24/2002
• Published: 02/05/2004
• Est. Priority Date: 07/24/2002
• Status: Abandoned Application

• Current Assignee: Piedras LLC
• Original Assignee: Piedras LLC
• Inventors: Kaufmann, Pedro Esteban, Landa, Pedro Enrique
• Application Number:
  US10/205,277
• Publication Number:
  US 20040024697A1
• Time in Patent Office: Days
• US Class Current: 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"

Abstract

The invention is directed to a method and system for transferring money between parties. A purchaser buys a card with a unique identification code and associated denomination of currency from a vendor. The vendor provides a verification code to the purchaser. The purchaser then may contact or call a service provider and provide the unique identification code, the verification code, and information about the recipient. The service provider may then provide conversion and/or exchange data. The purchaser may then inform the recipient of the transaction and provide to the recipient the data associated with the transaction. The recipient may go to a distributor and receive currency or credit. The information about the recipient may be used to verify the identity of the recipient before distribution of money or credit.

Claims

1. A method for transferring money between a purchaser and a recipient, the method comprising:

vending a card to the purchaser, the card being associated with a denomination of a first currency, the card having a unique identification number;

providing a verification code, the verification code being associated with a vendor of the card;

receiving the unique identification number, the verification code, and recipient data from the purchaser; and

providing the recipient data to a distributor, the distributor distributing a monetary amount associated with the denomination of the first currency.

2. The method of claim 1 wherein the monetary amount comprises a line of credit.

3. The method of claim 1 wherein the monetary amount comprises an amount of a second currency.

4. The method of claim 1, the method further comprising:

providing to the purchaser data associated with the monetary amount associated with the denomination of the first currency.

5. The method of claim 1 wherein the step of receiving recipient data is performed via telephone.

6. The method of claim 1 wherein the step of providing the recipient data is performed via telephone.

7. The method of claim 1 wherein the recipient data comprises:

data associated with a means for verifying the identity of the recipient.

8. The method of claim 1 wherein the steps of receiving and providing the recipient data are associated with a voice recording.

9. The method of claim 1, the method further comprising:

collecting from the vendor of the card at least a monetary transfer amount associated with the denomination of the first currency.

10. The method of claim 1, the method further comprising:

providing to the distributor at least a monetary transfer amount associated with the denomination of the first currency.

11. A system for transferring money between a purchaser and a recipient, the system comprising:

a card having a unique identification number, the card being associated with a denomination of a first currency;

a verification number, the verification number being associated with a vending location, the verification number being indicative of a completed vending transaction;

a recipient data, the recipient data comprising data associated with a means for verifying the identity of the recipient;

a provider, the provider receiving the unique identification number, the verification number, and the recipient data from the purchaser, the provider providing the recipient data to a distributor; and

the distributor, the distributor verifying the identity of the recipient and providing a monetary amount associated with the denomination of the first currency.

12. The system of claim 11, the system further comprising:

a vendor, the vendor vending the card and providing the verification number to the purchaser.

13. The system of claim 11 wherein the monetary amount comprises an amount of a second currency.

14. The system of claim 11 wherein the monetary amount comprises a line of credit.

15. The system of claim 11 wherein the provider receives the unique identification number, the verification number, and the recipient data via telephone.

16. The system of claim 11 wherein the provider provides the recipient data to the distributor via telephone.

17. The system of claim 11 wherein the recipient data comprises a voice recording.

18. A method for transferring money from a purchaser to a recipient, the purchaser providing recipient data to a provider, the recipient data comprising data associated with a means of verifying the identity of the recipient, the provider providing to a distributor the recipient data and a monetary amount, the method comprising:

vending a card with a unique identification number, the card being associated with a denomination of a first currency;

the vending being provided by a vendor; and

providing a verification number, the verification number being associated with the vendor, the verification number being indicative of the step of vending the card.

19. The method of claim 18, the method further comprising:

providing to the provider at least the monetary amount.

20. The method of claim 18, the method further comprising:

generating the verification number using data selected from the group consisting of the denomination, a vendor identification, a vendor location, a date of the step of vending, and the unique identification number.