MONEY TRANSFERS UTILIZING A UNIQUE RECEIVER IDENTIFIER

• US 20090265272A1
• Filed: 06/03/2009
• Published: 10/22/2009
• Est. Priority Date: 10/17/2007
• Status: Abandoned Application

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Blair, Paul, Hafer, Michael, Michelsen, Mike, Gilbert, Jacques, Dill, Matt, Mann, Rebecca
• Application Number:
  US12/477,360
• Publication Number:
  US 20090265272A1
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 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 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• 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

Abstract

Methods, systems, and machine-readable media are disclosed for financial transfers utilizing a unique identifier to facilitate flexible payment options for the transaction. According to one embodiment, a pull transaction model can be implemented. According to such embodiments, a money transfer can be initiated in a conventional manner via an agent of a money transfer facilitator. The sender of the transfer can provide an identifier for the transaction to the recipient. The recipient can in turn use the identifier, in combination with functionality of a mobile wallet application of a mobile device to request or “pull” the money transfer to an account associated with the mobile wallet application. In this way, the recipient can receive the transfer to the mobile wallet account even if the sender does not know that such a delivery is available.

Claims

1. A method of supporting a money transfer transaction, the method comprising:

receiving a Personal Identification Number (PIN) and a transaction identifier for a previously initiated money transfer transaction at a mobile wallet application;

verifying the PIN with the mobile wallet application; and

in response to verifying the PIN, sending the transaction identifier to an application of a money transfer facilitator supporting the money transfer transaction.

2. The method of claim 1, further comprising:

verifying the transaction identifier with the application of the money transfer facilitator; and

in response to verifying the transaction identifier, sending a recipient identifier to the mobile wallet application, the recipient identifier indicating an intended recipient of the money transfer transaction.

3. The method of claim 2, further comprising:

receiving the recipient identifier from the application of the money transfer facilitator at the mobile wallet application;

validating the recipient identifier with the mobile wallet application; and

in response to validating the recipient identifier, sending a payment request from the mobile wallet application to the application of the money transfer facilitator.

4. The method of claim 3, further comprising:

receiving the payment request at the application of the money transfer facilitator;

completing the money transfer transaction based at least in part on the payment request; and

sending a response to the mobile wallet application from the application of the money transfer facilitator, the response indicating completion of the money transfer transaction.

5. The method of claim 4, further comprising updating a balance maintained by the mobile wallet application based on the response indicating completion of the money transfer transaction.

6. The method of claim 5, further comprising providing a notification to a user of the mobile wallet application.

7. The method of claim 6, wherein the notification indicates the updated balance.

8. The method of claim 4, wherein the payment request indicates at least one destination account for the money transfer transaction.

9. The method of claim 8, wherein completing the money transfer transaction comprises crediting the at least one destination account indicated by the payment request.

10. The method of claim 8, wherein the payment request indicates a plurality of destination accounts for the money transfer transaction.

11. The method of claim 10, wherein the payment request further indicates a distribution of funds of the money transfer transaction to each of the destination accounts.

12. The method of claim 11, wherein completing the money transfer transaction comprises crediting each of the destination accounts indicated by the payment request based on the distribution indicated by the payment request.

13. A system comprising:

a mobile communications network;

a mobile device communicatively coupled with the mobile communications network and executing a mobile wallet application, the mobile wallet application adapted to receive a Personal Identification Number (PIN) and a transaction identifier for a previously initiated money transfer transaction, verify the PIN, and in response to verifying the PIN, send the transaction identifier via the mobile communications network; and

a money transfer facilitator system communicatively coupled with the mobile communications network, the money transfer facilitator system adapted to receive the transaction identifier from the mobile wallet application, verify the transaction identifier with, and in response to verifying the transaction identifier, send a recipient identifier to the mobile wallet application via the mobile communications network, the recipient identifier indicating an intended recipient of the money transfer transaction.

14. The system of claim 13, wherein the mobile wallet application is further adapted to receive the recipient identifier from the money transfer facilitator system, validate the recipient identifier, and in response to validating the recipient identifier, send a payment request to the money transfer facilitator system.

15. The system of claim 14, wherein the money transfer facilitator system is further adapted to receive the payment request from the mobile wallet application, complete the money transfer transaction based at least in part on the payment request, and send a response to the mobile wallet application indicating completion of the money transfer transaction.

16. The system of claim 15, wherein the mobile wallet application is further adapted to update a balance maintained by the mobile wallet application based on the response indicating completion of the money transfer transaction.

17. The system of claim 16, wherein the mobile wallet application is further adapted to provide a notification to a user of the mobile wallet application.

18. The system of claim 17, wherein the notification indicates the updated balance.

19. The system of claim 15, wherein the payment request indicates at least one destination account for the money transfer transaction.

20. The system of claim 19, wherein completing the money transfer transaction comprises crediting the at least one destination account indicated by the payment request.

21. The system of claim 19, wherein the payment request indicates a plurality of destination accounts for the money transfer transaction.

22. The system of claim 21, wherein the payment request further indicates a distribution of funds of the money transfer transaction to each of the destination accounts.

23. The system of claim 22, wherein completing the money transfer transaction comprises crediting each of the destination accounts indicated by the payment request based on the distribution indicated by the payment request.

24. A system comprising:

a mobile communications network;

a mobile device communicatively coupled with the mobile communications network and executing a mobile wallet application, the mobile wallet application adapted to receive a Personal Identification Number (PIN) and a transaction identifier for a previously initiated money transfer transaction, verify the PIN, and in response to verifying the PIN, send the transaction identifier via the mobile communications network; and

a money transfer facilitator system communicatively coupled with the mobile communications network, the money transfer facilitator system adapted to receive the transaction identifier from the mobile wallet application, verify the transaction identifier with, and in response to verifying the transaction identifier, send a recipient identifier to the mobile wallet application via the mobile communications network, the recipient identifier indicating an intended recipient of the money transfer transaction, wherein the money transfer facilitator system further comprises one or more interfaces for conducting money transfer transactions and a transfer options module communicatively coupled with the one or more interfaces and adapted to receive transaction information for a money transfer transaction from a sender through at least one or the interfaces, provide a notification of the transaction to a recipient of the transaction, and select one or more delivery options for completing the money transfer transaction.

25. A money transfer facilitator system comprising:

one or more interfaces for conducting money transfer transactions; and

a transfer options module communicatively coupled with the one or more interfaces and adapted to receive transaction information for a money transfer transaction from a sender through at least one or the interfaces, provide a notification of the transaction to a recipient of the transaction, and select one or more delivery options for completing the money transfer transaction.

26. The money transfer facilitator system of claim 25, wherein the one or more interfaces comprise at least one of an Interactive Voice Response (IVR) interface, a web interface, an interface to an agent system, and a telephone interface to a customer service representative.

27. The money transfer facilitator system of claim 25, wherein the delivery options comprise at least one of delivering funds to a bank account of a recipient, delivering funds to a pre-paid account, delivering funds to a funds withholding system, delivering funds to a third party, delivering a draft check, and delivering funds through an Automated Teller Machine (ATM).

28. The money transfer facilitator system of claim 25, wherein the transfer options module receives an indication of delivery options from a recipient of the money transfer transaction and selects one or more delivery options based on the indication.

29. The money transfer facilitator system of claim 28, wherein the money transfer options module receives the indication of delivery options from the recipient via one of the interfaces.

30. The money transfer facilitator system of claim 25, wherein the transfer options module selects one or more delivery options based on one or more delivery rules.

31. The money transfer facilitator system of claim 30, wherein the one or more delivery rules include at least one rule defined by a recipient of the money transfer transaction.

32. The money transfer facilitator system of claim 30, wherein the one or more delivery rules include at least one rule defined by a sender of the money transfer transaction.

33. The money transfer facilitator system of claim 30, wherein the one or more delivery rules include at least one rule defined by the money transfer facilitator.

34. The money transfer facilitator system of claim 29, wherein the notification of the transaction includes an indication of one or more delivery options.

35. The money transfer facilitator system of claim 34, wherein the transfer options module defines a delivery rule based on the indication of delivery options.

36. The money transfer facilitator system of claim 34, wherein the transfer options module selects one or more delivery options for completing a subsequent money transfer transaction based on the delivery rule.