REAL-TIME INDICATION OF REMITTANCE SENDER THAT REMITTANCE TRANSACTION FAILS

• US 20080249933A1
• Filed: 08/10/2007
• Published: 10/09/2008
• Est. Priority Date: 04/06/2007
• Status: Abandoned Application

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Walls, Robert K., Rethorn, Michael K., Grist, Michelle L.
• Application Number:
  US11/836,875
• Publication Number:
  US 20080249933A1
• Time in Patent Office: Days
• US Class Current: 705/40
• 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 20/381 Currency conversion
• 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 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method includes initiating a remittance transaction interaction with a sender in response to a request from the sender. The request includes recipient information that identifies a recipient. As part of the remittance transaction, a request message is transmitted. A response is received in real time. The response indicates that the remittance transaction cannot be performed for lack of a valid recipient'"'"'s account. The sender is informed that the remittance transaction cannot be performed. After the sender is so informed, the remittance transaction interaction with the sender is concluded.

Claims

1. A method comprising:

initiating a remittance transaction interaction with a sender in response to a request from the sender, the request including recipient information that identifies a recipient;

as part of the remittance transaction, transmitting a request message;

receiving a response to the request message in real time, the response indicating that the remittance transaction cannot be performed for lack of a valid recipient'"'"'s account;

informing the sender that the remittance transaction cannot be performed; and

after the informing step, concluding the remittance transaction interaction with the sender.

2. The method of claim 1, wherein the remittance transaction interaction is a face-to-face conversation between the sender and a remittance agent.

3. The method of claim 1, wherein the remittance transaction interaction is a telephone conversation between the sender and a remittance agent.

4. The method of claim 1, wherein the remittance transaction interaction is a series of at least one exchange of information with a remittance services server computer.

5. The method of claim 4, wherein the sender uses a personal computer for the at least one exchange of information.

6. The method of claim 4, wherein the sender uses a mobile telephone for the at least one exchange of information.

7. The method of claim 4, wherein the sender uses a kiosk for the at least one exchange of information.

8. The method of claim 4, wherein the sender uses an automated teller machine for the at least one exchange of information.

9. The method of claim 1, wherein the remittance transaction interaction takes place between the sender and a kiosk.

10. The method of claim 1, wherein the remittance transaction interaction takes place between the sender and an automated teller machine.

11. A method comprising:

receiving a request for a funds transfer, said request including data for indicating a recipient payment card account number;

sending a message to determine whether the recipient payment card account number is valid;

receiving a confirmation message that confirms that the recipient'"'"'s payment card account number is valid; and

after receiving the confirmation message, clearing the funds transfer to a payment card account identified by the recipient payment card account number.

12. The method of claim 11, wherein the data for indicating the recipient payment card account number includes a recipient mobile telephone number.

13. The method of claim 11, wherein:

the message to determine whether the recipient payment card account number is valid is sent to an issuer of the payment card account identified by the recipient payment card account; and

the confirmation message is received from said issuer.

14. The method of claim 11, wherein the request is received from a sending financial institution.

15. The method of claim 11, wherein the request is received from an acquiring financial institution.

16. An apparatus comprising:

a processor; and

a memory in communication with the processor, the memory storing program instructions, the processor operative with the program instructions to;

receive a request for a funds transfer, said request including data for indicating a recipient payment card account number;

send a message to determine whether the recipient payment card account number is valid;

receive a confirmation message that confirms that the recipient'"'"'s payment card account number is valid; and

after receiving the confirmation message, clear the funds transfer to a payment card account identified by the recipient payment card account number.

17. The apparatus of claim 16, wherein the data for indicating the recipient payment card account number includes a recipient mobile telephone number.