Secure money transfer between hand-held devices

• US 20050199709A1
• Filed: 03/02/2005
• Published: 09/15/2005
• Est. Priority Date: 10/10/2003
• Status: Abandoned Application

• Current Assignee: Xilidev Incorporated
• Original Assignee: Xilidev Incorporated
• Inventors: Linlor, James
• Application Number:
  US11/071,054
• Publication Number:
  US 20050199709A1
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G07F 7/0886 the card reader being portable for interacting with a POS or ECR in realizing a payment transaction
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A payment resolution module is configured to communicate with hand-held devices (such as mobile phones, PDA'"'"'s, or computers) to allow secure transfer of funds between financial accounts associated with each of the hand-held devices. A user of a paying device may be identified as the owner of the device either by having the option to enter a personal identification code, or by using a biometric to identify himself, for example. Accordingly, only an authorized user of the hand-held device may use the hand-held device to transfer funds. A user of the recipient device may be identified by an identification code or a telephone number, for example, which is associated with a recipient financial account. After the payment resolution module receives authorization for a payment request to the recipient account, a payment transfer module transmits the requested amount from a payment source associated with the identified owner of the paying device to the recipient account.

Claims

1. A method of transferring funds from a payment source to a recipient account, the method comprising:

transmitting a payment request from a paying device, wherein the payment request includes an identifier of a recipient device and a payment amount;

receiving the payment request at a payment resolution module;

identifying a payment source related to the paying device;

identifying a recipient account related to the recipient device;

authorizing the payment request; and

in response to authorizing, depositing the payment amount in the recipient account.

2. The method of claim 1, wherein the payment request includes a first transmission identifying the paying device and a second transmission identifying the payment amount.

3. The method of claim 1, further comprising:

transmitting to the recipient device a confirmation message indicating that the payment amount has been deposited in the recipient account.

4. The method of claim 1, wherein the paying device is selected from the group including a cellular phone, a personal digital assistant, and a portable computer.

5. The method of claim 1, wherein the identifier of the recipient device comprises a series of alpha numeric characters.

6. The method of claim 1, wherein at least a portion of the payment request is received by the paying device by speaking voice commands into the paying device.

7. The method of claim 1, wherein authorizing the payment request comprises:

receiving information identifying the paying device;

accessing a database to map the information to the payment source.

8. The method of claim 7, wherein the information identifying the paying device is selected from the group comprising:

Caller ID (“

CID”

) information;

a serial number of the hand-held device;

an IP address assigned to the hand-held device;

information regarding a unique radio tag coupled to the hand-held device; and

biometric information regarding the user.

9. The method of claim 1, wherein authorizing the payment request comprises:

determining a payment source associated with the paying device;

transmitting at least a portion of the payment request to the payment source; and

receiving information from the payment source indicating the payment request is authorized.

10. A system for authorizing a money transfer, the system comprising:

a payment resolution module in communication with a payment authorization source;

a paying device in communication with the payment resolution module, wherein the paying device transmits the payment request to the payment resolution module, the payment resolution module identifies a payment source associated with the paying device, and the payment authorization source authorized the payment request from the payment source; and

a payment transfer module configured to transfer a payment indicated in the payment request in response to receiving confirmation from the payment authorization source that the payment request has been authorized.

11. The system of claim 10, further comprising:

a recipient device associated with a recipient account, wherein the payment request identifies one of the recipient device and the recipient account and the payment transfer module transfers the payment to the recipient account.

12. The system of claim 11, wherein the payment transfer module transmits a payment confirmation message to the recipient device.

13. The system of claim 10, wherein the payment resolution module is configured to receive identifying information from the paying device and map the identifying information to a user.

14. The system of claim 13, wherein the payment authorization source is in data communication with at least one of the following:

a bank account of the user;

a credit card account of the user; and

a wireless service provider account of the user.

15. The system of claim 13, wherein the identifying information is selected from the group comprising:

Caller ID (“

CID”

) information;

a serial number of the hand-held device; and

an IP address assigned to the hand-held device.

16. The system of claim 10, wherein the paying device is selected from the group including a cellular phone;

a personal digital assistant; and

a computing device.

17. The system of claim 10, wherein communications between the paying device and the payment resolution module are wireless.

18. The system of claim 12, wherein communications between the recipient device and the payment transfer module are wireless.

19. A system for transferring money from a payment source to a recipient account, the system comprising:

means for transmitting a payment request from a paying device, wherein the payment request includes a recipient identifier and a payment amount;

means for receiving the payment request;

means for identifying a payment source related to the paying device;

means for identifying a recipient account from the recipient identifier;

means for authorizing the payment request; and

means for transferring the payment amount to the recipient account.

20. The system of claim 19, wherein the recipient identifier comprises an identifier of a recipient device.