System and method for interactive electronic fund raising and electronic transaction processing

• US 20050125342A1
• Filed: 09/30/2004
• Published: 06/09/2005
• Est. Priority Date: 10/01/2003
• Status: Abandoned Application

• Current Assignee: Steven Schiff
• Original Assignee: Steven Schiff
• Inventors: Schiff, Steven
• Application Number:
  US10/955,839
• Publication Number:
  US 20050125342A1
• 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 30/06 Buying, selling or leasing transactions

Abstract

A system and methodology for conducting electronic-based transactions. In one aspect, a transaction is conducted using real-time user interaction including recording data representing a specific purpose (or other information) associated with transactions, voice-print authentication of user(s), and/or recording spoken voice of user(s). In another aspect, a system for conducting electronic-based transactions includes a payment processor with input logic, decision logic and output logic. The input logic communicates with a transaction terminal to receive transaction request data (transaction amount and transaction descriptor data). The decision logic selectively authorizes the transaction based upon analysis of the received transaction amount and transaction descriptor data in conjunction with balance information and at least one usage restriction for an account. The output logic generates a status message for communication back to the transaction terminal. In another aspect, an IVR system interacts with callers to conduct donation transactions between callers and caller-selected charitable or political entities.

Claims

1. A system for managing and conducting electronic-based funds transfers comprising:

an interactive system that interacts with a user to conduct a transaction of monetary funds from an account associated with the user, including means for recording data pertaining to at least one of the following;

i) usage control information which controls the manner in which the transferred monetary funds are used downstream in the usage chain;

ii) usage monitoring information which controls the manner in which a party can monitor the use of the transferred monetary funds downstream in the usage chain; and

iii) payee account information that identifies a financial account into which the monetary funds of the transaction are to be transferred.

2. A system according to claim 1, further comprising:

means for authenticating said at least one user utilizing a voice print of said at least one user.

3. A system according to claim 1, wherein:

said interactive system comprises an interactive voice response system that is operably coupled to said users over a telecommunications network.

4. A system according to claim 3, wherein:

said interactive voice response system includes means for recording spoken voice of said users as part of said transactions and storing a representation of said spoken voice as a file in a database for subsequent access thereto.

5. A system according to claim 1, wherein:

said interactive system comprises a web server that is operably coupled to said users over the Internet.

6. A system according to claim 5, wherein:

the recorded data comprises information supplied by said users over the Internet.

7. A system according to claim 1, further comprising:

data entry means providing playback of spoken voice recorded during a particular transaction, manual entry of alphanumeric data corresponding to such spoken voice, and storage of such alphanumeric data in a database, wherein the recorded data is part said alphanumeric data.

8. A system according to claim 1, wherein:

said system is adapted for use in one of the following applications, including

charitable fund raising;

political fund raising;

money transfer between a payor and a payee;

electronic bill payment;

electronic tuition payment; and

public event information, registration and payment.

9. A system according to claim 1, further comprising:

a transaction processing subsystem, operably coupled to said interactive system, that carries out said transaction in conjunction with real-time communication with said interactive system.

10. A system according to claim 1, further comprising:

means for controlling access to the transferred monetary funds, wherein access to the transferred monetary funds are made available to a party that has partial or complete discretionary access to such funds.

11. A system for managing and conducting electronic-based charitable fund raising comprising:

an interactive voice system that interacts with charitable donors to conduct transactions of monetary funds from accounts associated with said donors, including means for recording spoken voice of said donors as part of said transactions and storing a representation of said spoken voice as a file in a database for subsequent access thereto, wherein portions of said spoken voice represent usage restrictions that are applicable to subsequent usage of said monetary funds.

12. A system according to claim 11, wherein:

said portions of said spoken voice represent a specific purpose that is applicable to said monetary funds.

13. A system according to claim 12, further comprising:

means for converting said portions of said spoken voice to data that represents usage restrictions that are applicable to said monetary funds subsequent to said transactions; and

a database that records said data.

14. A system according to claim 13, further comprising:

data entry means providing playback of spoken voice recorded during a particular transaction, manual entry of alphanumeric data corresponding such spoken voice, and storage of such alphanumeric data in a database.

15. A system according to claim 14, wherein:

said database is adapted to enable donor access over a network.

16. In a system for conducting an electronic-based transaction including a transaction processing terminal and an account storing funds for a particular entity, wherein payment for the transaction is to be made from the account, a payment processor comprising:

input logic that is adapted to receive transaction request data communicated from said transaction processing terminal, said transaction request data including a transaction amount for the transaction and transaction descriptor data associated with goods or services that are part of the transaction;

decision logic that is adapted to selectively authorize the transaction based upon analysis of the received transaction amount and said transaction descriptor data in conjunction with balance information and at least one usage restriction for the account; and

output logic that is adapted to generate a status message based upon the analysis performed by said decision logic for communication back to the transaction processing terminal.

17. A payment processor according to claim 16, wherein:

said status message comprises an authorization message in the event that said decision logic determines that the balance information indicates that an available balance for the account exceeds the received transaction amount and the transaction is not blocked by any usage restriction for the account.

18. A payment processor according to claim 16, wherein:

said status message comprises an error message in the event that said decision logic determines that the balance information indicates that an available balance for the account is less than the received transaction amount.

19. A payment processor according to claim 16, wherein:

said status message comprises an error message in the event that said decision logic determines that the transaction is blocked by a usage restriction for the account.

20. A payment processor according to claim 16, further comprising:

a database storing said at least one usage restriction for the account.

21. A payment processor according to claim 20, wherein:

said at least one usage restriction comprises at least one restriction code associated with the account.

22. A payment processor according to claim 21, wherein:

said decision logic maps the received transaction descriptor data to at least one corresponding restriction code and checks whether the derived at least one restriction code matches the at least one restriction code associated with the account.

23. A payment processor according to claim 22, wherein:

said status message comprises an authorization message in the event that said decision logic determines that the balance information indicates that an available balance for the account exceeds the received transaction amount and that the derived at least one restriction code does not match any restriction code associated with the account.

24. A payment processor according to claim 22, wherein:

said status message comprises an error message in the event that said decision logic determines that the derived at least one restriction code does match a restriction code associated with the account.

25. A payment processor according to claim 16, wherein:

said transaction request data includes account data that identifies the account of the particular entity.

26. A payment processor according to claim 25, wherein:

the account is maintained by a financial institution, and the transaction involves the purchase of goods or services at a merchant.

27. A payment processor according to claim 26, wherein:

the account is an internal account maintained by an entity, and the transaction involves the purchase of goods or services by the entity.

28. A payment processor according to claim 27, wherein:

said account data is persistently stored in a hand-held card and transferred to said transaction processing terminal for communication to said payment processor during the transaction.

29. A payment processor according to claim 28, wherein:

said hand-held card utilizes magnetic means or semiconductor memory means to persistently store said account data.

30. A payment processor according to claim 27, wherein:

said account data is persistently stored by electronic means and transferred to said transaction terminal for communication to said payment processor during the transaction.

31. A payment processor according to claim 30, wherein:

said electronic means comprises a radio-frequency identification circuitry.

32. A payment processor according to claim 31, wherein:

said account data is communicated to said payment processor in response to user interaction with an interactive voice response system during the transaction.

33. A payment processor according to claim 16, wherein:

said transaction descriptor data comprises alphanumeric data that identifies the goods or services that are part of the transaction.

34. A payment processor according to claim 16, wherein:

said transaction terminal comprises at least one of point of sale machine, a computer processing machine, a personal digital assistant, and a phone.

35. A payment processor according to claim 16, for use in one of the following applications, including:

electronic distribution of funds for the benefit of beneficiaries of a charitable entity;

management of monetary funds by an entity;

electronic distribution of funds for the benefit of political candidates;

electronic distribution of funds for the benefit family members; and

electronic distribution of funds for the benefit of employees.

36. A system for conducting an electronic-based transaction comprising:

a transaction processing terminal;

an account storing funds for a particular entity, wherein payment for the transaction is to be made from the account; and

a payment processor, operably coupled to said transaction processing terminal over a communication network, including

input logic that is adapted to receive transaction request data communicated from said transaction processing terminal, said transaction request data including a transaction amount for the transaction and transaction descriptor data associated with goods or services that are part of the transaction,

decision logic that is adapted to selectively authorize the transaction based upon analysis of the received transaction amount and said transaction descriptor data in conjunction with balance information and at least one usage restriction for the account, and

output logic that is adapted to generate a status message based upon the analysis performed by said decision logic for communication back to the transaction processing terminal;

wherein said transaction processing terminal receives said status message and communicates an alert message corresponding thereto for finalizing or terminating the transaction.

37. A system according to claim 36, wherein:

said status message comprises an authorization message in the event that said decision logic determines that the balance information indicates that an available balance for the account exceeds the received transaction amount and the transaction is not blocked by any usage restriction for the account.

38. A system according to claim 36, wherein:

said status message comprises an error message in the event that said decision logic determines that the balance information indicates that an available balance for the account is less than the received transaction amount.

39. A system according to claim 36, wherein:

said status message comprises an error message in the event that said decision logic determines that the transaction is blocked by a usage restriction for the account.

40. A system according to claim 36, wherein:

said transaction request data includes account data that identifies the account of the particular entity.

41. A system according to claim 40, wherein:

the account is maintained by a financial institution, and the transaction involves the purchase of goods or services at a merchant.

42. A system according to claim 40, wherein:

the account is an internal account maintained by an entity, and the transaction involves the purchase of goods or services by the entity.

43. A system according to claim 41, further comprising:

a hand-held card issued by said financial institution that persistently stores said account data, wherein said hand-held card cooperated with said transaction terminal to communicate said account data to said payment processor during the transaction.

44. A system according to claim 43, wherein:

said hand-held card utilizes magnetic means or semiconductor memory means to persistently store said account data.

45. A system according to claim 41, further comprising:

electronic means that persistently stores said account data; and

means for transferring said account data to said transaction terminal for communication to said payment processor during the transaction.

46. A system according to claim 45, wherein:

said electronic means comprises a radio-frequency identification circuitry.

47. A system according to claim 40, further comprising:

an interactive voice response system that interacts with a user to generate said account data and communicate said account data to said payment processor during the transaction.

48. A system according to claim 36, for use in one of the following applications, including:

electronic distribution of funds for the benefit of beneficiaries of a charitable entity;

an accounting system for management of monetary funds by an entity;

electronic distribution of funds for the benefit of political candidates;

electronic distribution of funds for the benefit of family members; and

electronic distribution of funds for the benefit of employees.

49. A method for conducting an electronic-based transaction in a system including a transaction processing terminal and an account storing funds for a particular entity, wherein payment for the transaction is to be made from the account, the method comprising:

receiving transaction request data communicated from said transaction processing terminal, said transaction request data including a transaction amount for the transaction and transaction descriptor data associated with goods or services that are part of the transaction;

selectively authorizing the transaction based upon analysis of the received transaction amount and said transaction descriptor data in conjunction with balance information and at least one usage restriction for the account; and

generating a status message based upon said analysis for communication back to the transaction processing terminal.

50. A method according to claim 49, wherein:

said status message comprises an authorization message in the event that said analysis determines that the balance information indicates that an available balance for the account exceeds the received transaction amount and the transaction is not blocked by any usage restriction for the account.

51. A method according to claim 49, wherein:

said status message comprises an error message in the event that said analysis determines that the balance information indicates that an available balance for the account is less than the received transaction amount.

52. A method according to claim 49, wherein:

said status message comprises an error message in the event that said decision logic determines that the transaction is blocked by a usage restriction for the account.

53. A method according to claim 49, wherein:

said transaction request data includes account data that identifies the account of the particular entity.

54. A method according to claim 53, wherein:

the account is maintained by a financial institution, and the transaction involves the purchase of goods or services at a merchant.

55. A method according to claim 53, wherein:

the account is an internal account maintained by an entity, and the transaction involves the purchase of goods or services by the entity.

56. A method according to claim 54, further comprising:

a hand-held card issued by said financial institution that persistently stores said account data, wherein said hand-held card cooperated with said transaction processing terminal to communicate said account data to said payment processor during the transaction.

57. A method according to claim 56, wherein:

said hand-held card utilizes magnetic means or semiconductor memory means to persistently store said account data.

58. A method according to claim 54, wherein:

electronic means persistently stores said account data, which is transferred to said account data to said transaction terminal for communication to said payment processor during the transaction.

59. A method according to claim 58, wherein:

said electronic means comprises a radio-frequency identification circuitry.

60. A method according to claim 49, further comprising:

controlling an interactive voice response system to interact with a user to generate said account data and communicate said account data to said payment processor during the transaction.

61. A method according to claim 49, for use in one of the following applications, including:

electronic distribution of funds for the benefit of beneficiaries of a charitable entity;

an accounting system for management of monetary funds by an entity;

electronic distribution of funds for the benefit of political candidates;

electronic distribution of funds for the benefit of family members; and

electronic distribution of funds for the benefit of employees.

62. A system for conducting electronic-based charitable or political donations comprising:

an interactive voice system that has a telephone access number associated therewith, said interactive voice system adapted to interact with a caller to select a particular charitable or political entity from a plurality of charitable or political entities and to conduct a transaction of monetary funds from an account associated with the caller to an account associated with the selected charitable or political entity.

63. A system according to claim 62, further comprising:

means for presenting affinity advertisements in conjunction with the interactions with the caller that conduct the transaction.

64. A system according to claim 62, further comprising:

means for offering goods for sale in conjunction with the interactions with the caller that conduct the transaction.

65. A system according to claim 62, further comprising:

means for registering a charitable or political entity into the system via interaction with the caller.

66. A method for conducting electronic-based charitable or political donations comprising:

i) providing an interactive voice system that has a telephone access number associated therewith;

ii) at the interactive voice system, receiving a call to the telephone access number by a caller;

iii) at the interactive voice system, in response to the receipt of the call, interacting with the caller to select a particular charitable or political entity from a plurality of charitable or political entities; and

iv) at the interactive voice system, upon selection of the particular charity or political entity, interacting with the caller to conduct a transaction of monetary funds from an account associated with the caller to an account associated with the selected charitable or political entity.

67. A method according to claim 66, further comprising:

v) t the interactive voice system, presenting affinity advertisements in conjunction with the interactions with the caller.

68. A method according to claim 66, further comprising:

v) at the interactive voice system, offering goods for sale in conjunction with the interactions with the caller.

69. A method according to claim 66, further comprising:

v) at the interactive voice system, interacting with the caller to register a charitable or political entity into the system.

70. A method according to claim 69, wherein:

the operations of v) bypass the operations of iii) and iv).