SYSTEM AND METHOD FOR ELECTRONICALLY EXCHANGING VALUE AMONG DISTRIBUTED ENTITIES BASED ON ELECTRONIC MAIL ADDRESSES

• US 20080319899A1
• Filed: 08/27/2008
• Published: 12/25/2008
• 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:
  US12/199,400
• Publication Number:
  US 20080319899A1
• Time in Patent Office: Days
• US Class Current: 705/39
• 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 computer-implemented method of facilitating a value exchange, the method comprising:

receiving a value exchange request from a first entity, the request including an electronic mail address associated with a second entity and a value to be exchanged between the first entity and the second entity;

using the electronic mail address associated with the second entity to notify the second entity of the request from the first entity; and

exchanging the value between a first account associated with the first entity and a second account associated with the second entity.

2. The computer-implemented method of claim 1, wherein the exchanging of the value is performed by a value exchange system, and wherein the first entity is registered with the value exchange system.

3. The computer-implemented method of claim 2, further comprising:

based on the second entity not being registered with the value exchange system, providing instructions to enable the second entity to be registered with the value exchange system.

4. The computer-implemented method of claim 1, wherein the value to be exchanged between the first entity and the second entity is to be transferred either from the first account or to the first account.

5. The computer-implemented method of claim 4, wherein the value to be exchanged between the first entity and the second entity is related to one or more currencies.

6. The computer-implemented method of claim 4, wherein the value to be exchanged between the first entity and the second entity is related to a non-currency.

7. The computer-implemented method of claim 4, wherein the value to be exchanged between the first entity and the second entity has one or more value forms.

8. The computer-implemented method of claim 1, wherein the receiving of the value exchange request from the first entity comprises:

establishing a connection with a device associated with the first entity; and

receiving the value exchange request from the device associated with the first entity via the connection.

9. The computer implemented method of claim 8, wherein the device associated with the first entity is a mobile device.

10. The computer-implemented method of claim 8, wherein the connection is established via wireless communication.

11. The computer-implemented of claim 1, further comprising:

enabling the first entity to fund the first account using one or more of a credit card, a debit card, a charge account, a savings account, a checking account, and an automated clearing house (ACH) account.

12. The computer-implemented of claim 1, further comprising:

enabling the second entity to transfer the value from the second account to one or more of a credit card, a debit card, a charge account, a savings account, a checking account, and an automated clearing house (ACH) account.

13. The computer-implemented method of claim 1, wherein the exchanging of the value between the first account and the second account is performed via an escrow.

19. A computer readable storage medium storing instructions that, when executed by a computer system, cause the computer system to perform the computer-implemented method of claim 1.

14. A computer-implemented method of transferring values, the method comprising:

receiving information related to an exchange of value from a device associated with a first entity, the information including an electronic mail address associated with a second entity and an amount of value to exchange;

communicating with the second entity about the exchange of value using the electronic mail address associated with the second entity; and

exchanging the amount of value between the first entity and the second entity.

15. The computer-implemented method of claim 14, wherein the device associated with the first entity is a mobile device, and wherein the information related to the exchange of value is received via wireless communication.

16. The computer-implemented method of claim 14, wherein the communicating with the second entity about the exchange of value comprises communicating with the second entity instructions to register based on the second entity not being a registered entity.

17. The computer-implemented method of claim 16, wherein the first entity is a registered entity, and wherein the exchanging of the amount of value between the first entity and the second entity comprises exchanging the amount of value between a registered account associated with the first entity and a registered account associated with the second entity.

18. The computer-implemented method of claim 16, wherein the first entity is a registered entity, and wherein the exchanging the amount of value between the first entity and the second entity comprises exchanging the amount of value between a registered account associated with the first entity and a non-registered account associated with the second entity.

20. A computer readable storage medium storing instructions that, when executed by a computer system, cause the computer system to perform the computer-implemented method of claim 14.

21. The system of claim 20, wherein the means for communicating with the second entity comprises means for notifying the second entity about the value exchange request.

22. The system of claim 21, further comprising:

means for registering the second entity and opening an account associated with the second entity.

23. The system of claim 22, wherein the means for closing the value exchange request comprises:

means for transferring the value either to or from the account associated with the second entity.

20-1. A system for facilitating exchange of values among a plurality of entities, the system comprising:

means for receiving a value exchange request initiated by a first registered entity, the request including an electronic mail address associated with a second entity and a value to be exchanged between the first entity and the second entity; and

means for communicating with the second entity using the electronic mail address associated with the second entity; and

means for closing the value exchange request.