Method and system for automated value transfer

• US 20040164145A1
• Filed: 09/04/2003
• Published: 08/26/2004
• Est. Priority Date: 02/25/2003
• Status: Active Grant

• Current Assignee: Ace Series A Holdco LLC
• Original Assignee: American Cash Exchange, Inc.
• Inventors: Peterhans, Alex, Licciardello, Debra Lynn, Romero, David, Licciardello, Donald C., Greenberg, Lawrence
• Granted Patent: US 7,195,151 B2
• Time in Patent Office: Days
• US Class Current: 235/381
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

This invention provides a system and method for authorizing automated value transfers from an account available to users who do not have a pre-existing trust, business or financial relationship. In an embodiment of the present invention, a Sender at a first location purchases a PIN Card at a point of sale, such as a retail location or a bank teller. The Sender contacts an intended Recipient at a remote location and discloses a Transfer PIN associated with the PIN Card, as well as the amount being transferred, to that intended Recipient. The Recipient needs only the Transfer PIN and a Cash Card to receive the money transfer at a participating remote location. To receive the value associated with the PIN Card, the Recipient inserts or swipes the Cash Card at an ATM and enters the Transfer PIN. An authorization system then authorizes the dispensing unit to dispense that value amount.

Claims

1. A method for obtaining a cash withdrawal from a dispensing unit comprising:

enabling the dispensing unit, in response to a first numeric string, to receive a second numeric string, wherein the first numeric string is associated with a disbursement account available to a plurality of unrelated users and the second numeric string is associated with a predetermined cash amount;

entering the second numeric string into the dispensing unit; and

obtaining the predetermined cash amount from the dispensing unit.

2. The method of claim 1, wherein the first numeric string is not associated with a distinct user account.

3. The method of claim 1, wherein the first numeric string is stored on a card that is input to the dispensing unit.

4. The method of claim 3, wherein the card comprises a magnetic stripe, and wherein the first numeric string is stored on the magnetic stripe.

5. The method of claim 1, wherein the second numeric string is essentially unique.

6. The method of claim 1, wherein the second numeric string is randomly generated.

7. The method of claim 1, wherein the second numeric string is essentially independent of the first numeric string.

8. The method of claim 3, wherein the second numeric string is not associated with the card prior to the entering step.

9. The method of claim 1, wherein the second numeric string is not associated with the first numeric string prior to the entering step.

10. The method of claim 1, wherein the second numeric string comprises a plurality of subset strings, and the entering step comprises separately entering each of the plurality of subset strings.

11. The method of claim 1, wherein the dispensing unit comprises an automated teller machine (ATM).

12. The method of claim 1, wherein the dispensing unit comprises a point-of-sale terminal at a retail location.

13. A method for obtaining a cash withdrawal from a dispensing unit comprising:

enabling the dispensing unit, in response to a first numeric string, to receive a second numeric string, wherein the first numeric string is associated with a disbursement account available to a plurality of unrelated users and the second numeric string is associated with a predetermined cash amount;

entering the second numeric string into the dispensing unit; and

obtaining a subset of the predetermined cash amount from the dispensing unit.

14. The method of claim 13, wherein the subset of the predetermined amount is selected by a user of the dispensing unit.

15. The method of claim 13, wherein the first numeric string is not associated with a distinct user account.

16. The method of claim 13, wherein the first numeric string is stored on a card that is input to the dispensing unit.

17. The method of claim 16, wherein the card comprises a magnetic stripe, and wherein the first numeric string is stored on the magnetic stripe.

18. The method of claim 13, wherein the second numeric string is essentially unique.

19. The method of claim 13, wherein the second numeric string is randomly generated.

20. The method of claim 13, wherein the second numeric string is essentially independent of the first numeric string.

21. The method of claim 16, wherein the second numeric string is not associated with the card prior to the entering step.

22. The method of claim 13, wherein the second numeric string is not associated with the first numeric string prior to the entering step.

23. The method of claim 13, wherein the second numeric string comprises a plurality of subset strings, and the entering step comprises separately entering each of the plurality of subset strings.

24. The method of claim 13, wherein the dispensing unit comprises an automated teller machine (ATM).

25. The method of claim 13, wherein the dispensing unit comprises a point-of-sale terminal at a retail location.

26. A method for authorizing cash withdrawals from a dispensing unit comprising:

enabling the dispensing unit, in response to an essentially unique first numeric string, to receive a second numeric string;

receiving the second numeric string at the dispensing unit; and

authorizing a cash withdrawal from the dispensing unit if the second numeric string matches an expected value and if the first numeric string meets predetermined criteria based on either a historical usage pattern associated with the first numeric string or on promotional rules.

27. The method of claim 26, wherein the second numeric string is publicly advertised.

28. The method of claim 26, wherein the predetermined criteria are based on a historical usage pattern associated with the first numeric string including associating the first numeric string with specified transactions.

29. The method of claim 26, wherein the predetermined criteria are based on a historical usage pattern associated with the first numeric string including whether the first numeric string has been associated with at least a predetermined number of cash withdrawals.

30. The method of claim 26, wherein the predetermined criteria are based on a historical usage pattern associated with the first numeric string including whether the first numeric string has been associated with at least a predetermined number of cash withdrawals within a predetermined time period prior to the receiving step.

31. The method of claim 26, wherein the predetermined criteria are based on promotional rules including a random activation event associated with the first numeric string.

32. The method of claim 31, wherein the random activation event is independent of the historical usage pattern associated with the first numeric string.

33. The method of claim 26, wherein the predetermined criteria are based on promotional rules including an intentional activation event associated with the first numeric string.

34. The method of claim 33, wherein the intentional activation event is independent of the historical usage pattern associated with the first numeric string.

35. The method of claim 26, wherein the dispensing unit comprises an automated teller machine (ATM).

36. The method of claim 26, wherein the dispensing unit comprises a point-of-sale terminal at a retail location.

37. The method of claim 26, wherein the first numeric string is stored on a card that is input to the dispensing unit.

38. A method for transferring value, comprising:

activating from a first location a representation of a predetermined value associated with an essentially unique identification string;

receiving at a second location comprising a cash dispensing unit the essentially unique identification string; and

responsive to a numeric string and the essentially unique identification string, authorizing a disbursement, at the cash dispensing unit, of a cash amount.

39. The method of claim 38, wherein the cash amount is the predetermined value.

40. The method of claim 38, wherein the cash amount is a subset of the predetermined value.

41. The method of claim 40, wherein the cash amount is selected by a user of the cash dispensing unit.

42. The method of claim 38, wherein the essentially unique identification string is randomly generated.

43. The method of claim 38, wherein the essentially unique identification string is independent of the numeric string.

44. The method of claim 38, wherein the essentially unique identification string is not associated with the numeric string prior to the receiving step.

45. The method of claim 38, wherein the essentially unique identification string comprises a plurality of subset strings, and the receiving step comprises separately receiving each of the plurality of subset strings.

46. The method of claims 45, wherein the receiving step further comprises generating a decline message responsive to a single one of the subset strings if all the subset strings that comprise the essentially unique identification string have not been entered.

47. The method of claim 38, wherein the first location is a retail store.

48. The method of claim 38, wherein a user at the first location remits a cash equivalent amount of the predetermined value.

49. The method of claim 48, wherein the predetermined value corresponds to a predefined currency value at the second location.

50. The method of claim 49, wherein the predefined currency value is a multiple of whole currency units.

51. The method of claim 38, wherein the cash dispensing unit comprises an automated teller machine (ATM).

52. The method of claim 38, wherein the cash dispensing unit comprises a point-of-sale terminal at a retail location.

53. The method of claim 38, further comprising the step of activating the cash dispensing unit in response to the insertion of a card that stores the numeric string.

54. The method of claim 53, wherein the numeric string is associated with the card.

55. The method of claim 54, wherein the essentially unique identification string is not associated with the card prior to the receiving step.

56. A method for transferring value, comprising:

receiving from a first location a signal to activate a representation of a predetermined value associated with an essentially unique identification string;

receiving from a second location comprising a cash dispensing unit the essentially unique identification string, wherein the essentially unique identification string is routed from the second location to an authorizing system according to routing information input into the cash dispensing unit; and

responsive to the essentially unique identification string, authorizing, by the authorization system, a disbursement from the cash dispensing unit of an amount of the predetermined value.

57. The method of claim 56, wherein the authorizing step is not responsive to the routing information.

58. A method for activating an automated teller machine (ATM) comprising:

reading information stored on a card inserted into the ATM, wherein the information comprises a numeric string associated with a disbursement account and not associated with a distinct user account; and

activating the ATM in response to the numeric string.

59. The method of claim 58, wherein the card comprises a magnetic stripe, and wherein the numeric string is stored on the magnetic stripe.

60. The method of claim 58, further comprising conducting a transaction with the disbursement account.

61. The method of claim 58, wherein the disbursement account is available to a plurality of unrelated users.

62. A system for transferring value comprising:

information received comprising an essentially unique string and an amount associated with the essentially unique string;

a disbursement account available to a plurality of unrelated users;

an authorizing system for authorizing disbursements from the disbursement account; and

a cash dispensing unit operable to

receive the essentially unique string,

transmit the essentially unique string to the authorizing system, and

dispense the amount in response to an authorization of disbursement from the disbursement account.

63. A card for transferring value comprising:

a first storage medium comprising a magnetic stripe, wherein the first storage medium stores information identifying the card;

a second storage medium, wherein the second storage medium stores a string associated with a transferred value; and

a calling code printed on the card for communicating the string to a remote user,

wherein responsive to the input of the string, a cash dispensing unit dispenses a cash equivalent of the transferred value to the remote user.

64. The card of claim 63, wherein the second storage medium stores the string in a human readable form.

65. The card of claim 63 or 64, wherein the second storage medium comprises a scratch-off film for hiding the string.

66. The card of claim 63, wherein the string is associated with a predetermined transferred value.

67. The card of claim 66, wherein the predetermined transferred value corresponds to a predefined foreign currency value.

68. The card of claim 67, wherein the predefined currency value is a multiple of whole currency units.

69. The card of claim 63, wherein the second storage medium further comprises a second string associated with the calling code.

70. The card of claim 69, wherein the second string is generated by a random-number generator.

71. The card of claim 63, wherein the string is essentially unique.

72. The card of claim 63 or 71, wherein the string is generated by a random-number generator.

73. The card of claim 63, further comprising a third storage medium that stores a second string associated with the calling code.

74. The card of claim 73, wherein the third storage medium stores the second string in a human readable form.

75. The card of claim 74, wherein the third storage medium comprises a scratch-off film for hiding the second string.

76. A card for activating a cash dispensing unit comprising:

a storage medium, wherein the storage medium stores information comprising a numeric string associated with a disbursement account accessible by a plurality of unrelated users,

wherein upon insertion of the card into a cash dispensing unit, the numeric string serves to validate the card to conduct a transaction with the disbursement account.

77. The card of claim 76, wherein the storage medium comprises a magnetic stripe.

78. The card of claim 76, wherein the numeric string is not associated with a distinct user account.

79. The card of claim 76, wherein the cash dispensing unit comprises an automated teller machine (ATM).

80. The card of claim 76, wherein the cash dispensing unit comprises a point-of-sale terminal at a retail location.

81. A card for activating a cash dispensing unit comprising:

a storage medium, wherein the storage medium stores information comprising a numeric string associated with a disbursement account accessible by a plurality of unrelated users,

wherein, in response to inserting the card into a cash dispensing unit and entering an essentially unique string into the cash dispensing unit, the cash dispensing unit dispenses a predetermined amount of cash associated with the essentially unique string.

82. The card of claim 81, wherein the storage medium comprises a magnetic stripe.

83. The card of claim 81, wherein the numeric string is not associated with a distinct user account.

84. The card of claim 81, wherein the cash dispensing unit comprises an automated teller machine (ATM).

85. The card of claim 81, wherein the cash dispensing unit comprises a point-of-sale terminal at a retail location.