Authentication for online money transfers
First Claim
1. A method for processing a transaction where the transaction is initiated by a payor online, but paid to a payee in-person, the method comprising steps of:
- accepting payor information at a location, wherein the payor is located across a wide area network from the location;
accepting transaction information at the location, wherein the transaction information includes an amount and a payee identifier;
accepting payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler;
evaluating a risk related to a likelihood that the transaction will complete successfully;
manually validating through human interaction with the payor that the payment source information is associated with the payor based, at least in part, on the evaluating step, whereby the risk is reduced by the manual validation;
billing the money handler for at least the amount;
determining if the money handler settles the amount; and
storing historical information on the transaction.
3 Assignments
0 Petitions
Accused Products
Abstract
According to the invention, a method for processing a transaction where the transaction is initiated by a payor online, but paid to a payee in-person, is disclosed. In one step, payor information is accepted at a location that located across a wide area network from the payor. Transaction information and payment source information is also accepted at the location. The transaction information includes an amount and a payee identifier and the payment source information includes account details associated with an account of the payor at a money handler. A risk related to a likelihood that the transaction will complete successfully is evaluated. Validating that the payment source information is associated with the payor is manually performed if the risk is excessive. The risk can generally be reduced by the manual validation. The money handler is billed for at least the amount. It is determined if the money handler settles the amount. Historical information on the transaction is stored.
-
Citations
37 Claims
-
1. A method for processing a transaction where the transaction is initiated by a payor online, but paid to a payee in-person, the method comprising steps of:
-
accepting payor information at a location, wherein the payor is located across a wide area network from the location;
accepting transaction information at the location, wherein the transaction information includes an amount and a payee identifier;
accepting payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler;
evaluating a risk related to a likelihood that the transaction will complete successfully;
manually validating through human interaction with the payor that the payment source information is associated with the payor based, at least in part, on the evaluating step, whereby the risk is reduced by the manual validation;
billing the money handler for at least the amount;
determining if the money handler settles the amount; and
storing historical information on the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
-
-
17. A method for processing a transaction where the transaction is initiated remotely, but paid to a payee in-person, the method comprising steps of:
-
accepting payor information at a location, wherein the payor is located across a wide area network from the location;
accepting transaction information at the location, wherein the transaction information includes an amount and a payee identifier;
accepting payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler;
verifying at least some of the payment source information;
evaluating a risk related to a likelihood that the transaction will complete successfully, manually validating that the payment source information is associated with the payor where the risk is excessive, whereby the risk is reduced by the manual validation; and
billing the money handler for at least the amount. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
-
-
28. A method for processing a transaction that transfers money or its equivalents from a payor to a payee, the method comprising steps of:
-
accepting payor information from the payor, wherein the payor is located across a wide area network;
accepting transaction information, wherein the transaction information includes an amount and a payee identifier; and
accepting payment source information, wherein the payment source information includes account details associated with an account of the payor at a money handler;
verifying at least some of the payment source information;
evaluating a risk related to a likelihood that the transaction will complete successfully;
checking the transaction information against a usage limit;
manually validating that the payment source information is associated with the payor based upon at least one of an outcome of the checking step and the first-listed evaluating step;
billing the money handler for at least the amount; and
transferring the money to the payee. - View Dependent Claims (29, 30, 31, 32, 33, 34, 35, 36)
-
-
37. A method and/or apparatus for processing a transaction as described in the specification and figures.
Specification