SYSTEMS AND METHODS FOR TRANSFERRING FUNDS FROM A SENDING ACCOUNT

• US 20080140548A1
• Filed: 10/20/2007
• Published: 06/12/2008
• Est. Priority Date: 09/12/2006
• Status: Abandoned Application

• Current Assignee: AKOM Technology Corporation
• Original Assignee: AKOM Technology Corporation
• Inventors: Csoka, Daniel
• Application Number:
  US11/875,896
• Publication Number:
  US 20080140548A1
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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 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
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Provided herein are methods and systems for transferring funds from a sending account to a payee. In embodiments, the sending account may be a pre-paid wireless telephone account. The methods and systems may involve a transaction management system, an account setup module, a funds transfer module and a reporting module.

Claims

1. (canceled)

2. A transaction management system for facilitating transfer of funds from a sending account held by payor with a telecommunications carrier, comprising:

an interface designed to communicate with a carrier information technology system;

an interface for accepting input from a payor mobile device about a desired transfer of funds, the mobile device associated with an account of the payor with the carrier operating the carrier information technology system;

a verification module for verifying the availability of funds that a payor wishes to transfer from the account;

an interface to a point-of-interaction system capable of accepting a transaction number and communicating independent of a banking network; and

a settlement and clearing module for reconciling a funds transfer from the payor to a payee, where the payee obtains funds in proximity to the point-of-interaction system.

3. The transaction management system of claim 2 wherein the payor mobile device includes a user interface for initiating a transfer of funds from the sending account.

4. The transaction management system of claim 2 wherein the payor mobile device is a cellular telephone.

5. The transaction management system of claim 2 wherein the transaction number consists of at least one of a transaction identification number and a personal identification number.

6. The transaction management system of claim 2 further comprising a compliance assessment facility.

7. The transaction management system of claim 2 wherein the point-of-interaction system is capable of providing funds to a payee.

8. The transaction management system of claim 2 wherein the sending account is selected from the group consisting of a pre-paid wireless telephone account, a pre-paid telephone account, a pre-paid wireless account, a pre-paid land-line telephone account, a pre-paid calling card, a pre-paid stored value card, a pre-paid stored value card associated with a mobile phone, a pre-paid stored value card not associated with a mobile phone, a post-paid wireless telephone account, a post-paid land-line telephone account, a credit card account, a debit card account, an account associated with a mobile phone, an account is associated with a landline and an account is associated with a stored value card.

9. The transaction management system of claim 2 wherein the sending account is selected from the group consisting of a pre-paid wireless telephone account and a post-paid wireless telephone account.

10. The transaction management system of claim 2 wherein the system further comprises an interactive voice response facility.

11. A reporting process, comprising:

receiving transaction data from the transaction management system;

storing the transaction data; and

gathering and transmitting stored data to at least one of the carrier system and the receiving system.

12. The reporting process of claim 11 wherein the process is performed by a reporting module.

13. The reporting process of claim 11 wherein the process is performed by a reporting module and the reporting module reconciles transactions processed through the transaction management system.

14. The reporting process of claim 11 wherein the process is performed by a reporting module and the reporting module generates reports periodically.

15. The reporting process of claim 11 wherein the process is performed by a reporting module and the reporting module generates reports in response to verification that the funds were received.

16. An account set-up process, comprising:

receiving information at a transaction management system from an interaction system on behalf of a payor;

associating the payor and a payee;

generating a pending transaction number; and

at least one of receiving and sending additional information regarding a transaction based on the pending transaction number.

17. The account set-up process of claim 16, wherein the process is performed by a stand-alone account set-up module.

18. The account set-up process of claim 16, wherein the information received at the transaction management system from an interaction system is received via an interactive voice response system.

19. The account set-up process of claim 16, wherein the additional information is provided at least one of through and to a third party money transfer business.

20. The account set-up process of claim 16, wherein the payor and payee are associated prior to a transaction being funded.

21. The account set-up process of claim 16, wherein the pending transaction number is generated prior to a transaction being funded.

22. The account set-up process of claim 16, wherein the information received at the transaction management system from the interaction system includes the amount of funds to be transferred.