Money transfer cards, systems and methods

• US 20060261150A1
• Filed: 05/18/2005
• Published: 11/23/2006
• Est. Priority Date: 05/18/2005
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Seifert, Dean A., Sayor, Thomas B., Baumgart, Mark
• Granted Patent: US 7,641,109 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered

Abstract

The present invention provides systems and methods to initiate, facilitate, process and/or perform money transfers. One such method includes establishing a money transfer record (310) and receiving, from a vendor location, a money transfer activation request (320) associated with the money transfer record. The method includes receiving a fulfillment request (330) associated with the money transfer record, collecting a customer data set, and authorizing a money transfer (340) associated with the money transfer record. The money transfer is facilitated by the creation of a money transfer record, which may occur prior to the money transfer activation request. The customer then can initiate the money transfer while at the vendor location using, for example, money transfer cards available for purchase from the vendor.

Claims

1. A method of facilitating money transfers, the method comprising:

establishing a money transfer record;

receiving, from a vendor location, a money transfer activation request associated with the money transfer record;

receiving a fulfillment request associated with the money transfer record and collecting a customer data set; and

authorizing a money transfer associated with the money transfer record.

2. The method of facilitating money transfers as in claim 1 further comprising associating a money transfer card with the money transfer record, and providing the money transfer card to the vendor location.

3. The method of facilitating money transfers as in claim 2 wherein receiving the money transfer activation request comprises receiving an account identifier associated with the money transfer record, the account identifier disposed on the money transfer card.

4. The method of facilitating money transfers as in claim 1 wherein the activation request comprises at least one data item selected from a group of data items consisting generally of an account identifier, a customer name, a money transfer amount and a money transfer fee.

5. The method of facilitating money transfers as in claim 1 further comprising establishing a plurality of money transfer records, each of the money transfer records having an associated money transfer card.

6. The method of facilitating money transfers as in claim 1 wherein the money transfer record comprises a money transfer amount, an account identifier and a code.

7. The method of facilitating money transfers as in claim 6 wherein receiving the fulfillment request comprises receiving the account identifier and the code from a money transfer customer.

8. The method of facilitating money transfers as in claim 7 further comprising receiving the fulfillment request with an interactive voice response system.

9. The method of facilitating money transfers as in claim 7 further comprising receiving the fulfillment request with a website.

10. The method of facilitating money transfers as in claim 1 wherein the customer data set comprises a name of a money transfer initiator.

11. The method of facilitating money transfers as in claim 1 wherein the customer data set comprises a name of a money transfer recipient.

12. The method as in claim 1 wherein the vendor location comprises a retail outlet.

13. A method of facilitating money transfers, the method comprising:

establishing a money transfer record and pairing the money transfer record with a money transfer card, the money transfer record and the money transfer card having an account identifier associated therewith;

receiving a money transfer activation request associated with the money transfer record, the activation request including the account identifier; and

receiving a money transfer fulfillment request associated with the money transfer record, the fulfillment request comprising the account identifier.

14. The method as in claim 13 further comprising collecting a customer data set, the customer data set identifying a money transfer initiator and a money transfer recipient.

15. The method as in claim 14 further comprising authorizing a money transfer to the money transfer recipient in an amount associated with the money transfer record.

16. A system for facilitating money transfers, comprising:

a host computer system comprising a processor coupled to a database;

wherein the host computer system further comprises;

code for establishing a money transfer record;

code for receiving, from a vendor location, a money transfer activation request associated with the money transfer record;

code for receiving a fulfillment request associated with the money transfer record and collecting a customer data set; and

code for authorizing a money transfer associated with the money transfer record.

17. The system as in claim 16 wherein the host computer further comprises code for associating a money transfer card with the money transfer record.

18. The system as in claim 17 further comprising a point-of-sale device disposed at the vendor location, the point-of-sale device adapted for:

receiving an account identifier from the money transfer card, the account identifier associated with the money transfer record; and

providing the money transfer activation request to the host computer system.

19. The system as in claim 16 wherein the host computer system comprises a first host computer having the code for establishing the money transfer record and a second host computer having the code for authorizing the money transfer associated with the money transfer record.

20. The system as in claim 16 wherein the host computer system further comprises code for collecting a customer data set and associating the customer data set with the money transfer record.