System and method for electronically exchanging value among distributed users

• US 20060253340A1
• Filed: 06/20/2006
• Published: 11/09/2006
• Est. Priority Date: 04/30/1999
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Inventors: Levchin, Max, Thiel, Peter, Nosek, Luke Paul, Banister, Scott Alan
• Application Number:
  US11/471,776
• Publication Number:
  US 20060253340A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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"
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/38215 Use of certificates or encrypted proofs of transaction rights
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0214 Referral reward systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users'"'"' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

Claims

1. A method of operating a distributed value exchange system to facilitate a value exchange between users, the method comprising:

receiving from a first user;

a request to transfer value to a second user;

an electronic mail address of the second user, wherein the second user is identifiable in the request only by the electronic mail address; and

an amount of value to exchange;

transmitting to the second user;

notification of the request; and

if the second user is not registered with the value exchange system, instructions regarding how to complete the request; and

transferring the amount of value from the first user to the second user.

2. The method of claim 1, further comprising:

if the second user is not registered with the value exchange system, registering the second user with the value exchange system prior to said transferring.

3. The method of claim 1, further comprising prior to said receiving from a first user:

receiving a deposit from the first user, wherein the deposit is funded with a credit card.

4. The method of claim 1, further comprising prior to said receiving from a first user:

receiving a deposit from the first user, wherein the deposit is funded with a debit card.

5. The method of claim 1, further comprising prior to said receiving from a first user:

receiving a deposit from the first user, wherein the deposit is funded with an electronic check.

6. The method of claim 1, further comprising prior to said receiving from a first user:

receiving a deposit from the first user, wherein the deposit is funded with an ACH (Automated Clearinghouse) transfer.

7. The method of claim 1, wherein said transferring is performed prior to said transmission of notification of the request to the second user.

8. The method of claim 1, wherein said transferring is performed after said transmission of notification of the request to the second user.

9. A computer readable storage medium storing instructions that, when executed by a computer, cause the computer to perform a method of operating a distributed value exchange system to facilitate a value exchange between users, the method comprising:

receiving from a first user;

a request to transfer value to a second user;

an electronic mail address of the second user, wherein the second user is identifiable in the request only by the electronic mail address; and

an amount of value to exchange;

transmitting to the second user;

notification of the request; and

if the second user is not registered with the value exchange system, instructions regarding how to complete the request; and

transferring the amount of value from the first user to the second user.

10. A method of facilitating an exchange of value between users within a distributed value exchange system, the method comprising:

receiving from a first user a request to receive value from a second user, the request comprising;

a second identifier of the second user associated with the second user prior to any interaction between the second user and the value exchange system, wherein the identifier enables communication with the second user independent of the value exchange system; and

an amount of value to receive;

transmitting to the second user notification of the request, wherein said notification comprises;

a first identifier of the first user associated with the first user prior to any interaction between the first user and the value exchange system, wherein the identifier enables communication with the first user independent of the value exchange system; and

the amount of value; and

transferring the amount of value from the second user to the first user if the second user approves the request.

11. The method of claim 10, wherein the request further comprises a currency associated with the amount of value.

12. The method of claim 10, wherein the request further comprises a description of a reason for the request to receive value.

13. The method of claim 10, wherein said first identifier and said second identifier are electronic mail addresses.

14. The method of claim 10, wherein said first identifier and said second identifier are telephone numbers.

15. A method of facilitating a value exchange between a first user and a second user with a value exchange computer system, the method comprising:

(a) registering a first user with the value exchange computer system;

(b) receiving at the value exchange computer system a value exchange request from a client device operated by the first user, wherein the value exchange request includes;

(i) a pre-existing identifier of a second user participating in the value exchange, wherein said pre-existing identifier was configured to identify the second user for a purpose other than conducting a value exchange via the value exchange computer system; and

(ii) an amount of the value exchange;

(c) transmitting notification of the value exchange request to the second user from the value exchange computer system; and

(d) allocating the amount of said value exchange between the first user and the second user.

16. The method of claim 15, wherein said pre-existing identifier is an electronic mail address.

17. The method of claim 16, wherein said transmitting comprises transmitting the notification to the electronic mail address.

18. The method of claim 15, wherein said pre-existing identifier is a telephone number.

19. The method of claim 15, further comprising:

(c′

) registering the second user with the value exchange computer system before allocating the amount of said value exchange.

20. The method of claim 15, wherein the value exchange request further comprises information identifying an item purchased at auction by one of the first user and second user from the other of the first user and the second user.

21. The method of claim 15, wherein the client device is a computer.

22. The method of claim 15, wherein the client device is a mobile communications device.

23. A computer readable storage medium storing instructions that, when executed by a computer, cause the computer to perform a method of facilitating a value exchange between a first user and a second user with a value exchange computer system, the method comprising:

(a) registering a first user with the value exchange computer system;

(b) receiving at the value exchange computer system a value exchange request from a client device operated by the first user, wherein the value exchange request includes;

(i) a pre-existing identifier of a second user participating in the value exchange, wherein said pre-existing identifier was configured to identify the second user for a purpose other than conducting a value exchange via the value exchange computer system; and

(ii) an amount of the value exchange;

(c) transmitting notification of the value exchange request to the second user from the value exchange computer system; and

(d) allocating the amount of said value exchange between the first user and the second user.

24. A computer system for facilitating the exchange of value between users, comprising:

(a) a database configured to store;

(i) a user register comprising a plurality of registered user identification data configured to identify registered users of the computer system; and

(ii) a plurality of account identification data associated with said registered user identification data and configured to identify accounts in relation to which value is to be transferred when a value exchange is executed;

(b) value exchange instruction storage configured to store value exchange data that;

(i) defines the value to be exchanged during a value exchange;

(ii) identifies, by means of said registered user identification data and without reference to said account identification data, a first registered user in relation to which the value exchange is to be executed; and

(iii) includes a second identifier that identifies a second user in relation to which the value exchange is to be executed;

wherein the second identifier comprises network address data of a form usable for transmitting communication data to the second user via a network independently of the computer system; and

(c) value exchange execution means operable to execute value exchanges defined by said value exchange data using;

(i) the second identifier contained in the value exchange data;

(ii) the registered user identification data contained in the value exchange data; and

(iii) the account identification data associated with the registered user identification data.

25. The computer system of claim 24, further comprising:

transmission means operable in response to receipt of a value exchange instruction to transmit information relating to said value exchange instruction to the second user using the second identifier.

26. The computer system of claim 24, wherein the value exchange execution means is configured to await receipt from the second user of an acknowledgement of the transmitted value exchange data before executing the value exchange.

27. The computer system of claim 24, wherein the value exchange execution means is configured to execute the value exchange before transmitting the value exchange data to the second user.