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Method of converting virtual cash to cash and deducting from a mobile phone cash account

  • US 20090026257A1
  • Filed: 02/11/2008
  • Published: 01/29/2009
  • Est. Priority Date: 08/22/2005
  • Status: Active Grant
First Claim
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1. The method of receiving cash from an outlet through a mobile phone comprising the steps of:

  • customer requesting for cash-out at an outlet;

    customer showing identification and filling up a form;

    frontliner accessing the device and keying in command containing customer'"'"'s amount of cash-out and sending the to telco;

    telco verifying that customer'"'"'s mobile phone is register with the telco'"'"'s cash product services and that the amount of cash-out is available in the customer'"'"'s mobile phone cash account and sending information to the device of the frontliner of the outlet;

    frontliner of the outlet verifying that customer is registered with teleco'"'"'s cash product service and advising the customer of the unique transaction code;

    customer paying for cash-out fee;

    customer keying in “

    CASHOUT”

    cash product command containing his PIN, amount to be cashed out, and his mobile phone number;

    sending this command to telco;

    outlet'"'"'s device receiving a confirmatory message from telco of cash product service transfer;

    customer receiving a SMS acknowledgment from telco of the completion of the cash product service;

    customer getting cash from the outlet;

    outlet'"'"'s device receiving an acknowledgment of the completion of the transaction and confirmation number from telco in a format matching the outlet'"'"'s device.

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