Mobile Person-to-Person Payment System

• US 20090319425A1
• Filed: 05/21/2009
• Published: 12/24/2009
• Est. Priority Date: 03/30/2007
• Status: Abandoned Application

• Current Assignee: Obopay Incorporated (OBP Investments, Inc.)
• Original Assignee: Obopay Incorporated (OBP Investments, Inc.)
• Inventors: Shah, Nirav, Hosokawa, Pete, Shawki, Sam, Realini, Carol, Schwartz, David, Tumminaro, John
• Application Number:
  US12/470,482
• Publication Number:
  US 20090319425A1
• Time in Patent Office: Days
• US Class Current: 705/42
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3229 Use of the SIM of a M-device as secure element
• CPC Class Codes: G06Q 20/3255 using mobile network messaging services for payment, e.g. SMS
• CPC Class Codes: G06Q 20/3263 characterised by activation or deactivation of payment capabilities
• CPC Class Codes: G06Q 20/386 using messaging services or messaging apps using mobile network messaging services for payment, e.g. SMS G06Q20/3255
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• 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: G07C 9/23 by means of a password

Abstract

A mobile payment platform and service provides a fast, easy way to make payments by users of mobile devices. The platform also interfaces with nonmobile channels and devices such as e-mail, instant messenger, and Web. In an implementation, funds are accessed from an account holder'"'"'s mobile device such as a mobile phone or a personal digital assistant to make or receive payments. Financial transactions can be conducted on a person-to-person (P2P) or person-to-merchant (P2M) basis where each party is identified by a unique indicator such as a telephone number or bar code. Transactions can be requested through any number of means including SMS messaging, Web, e-mail, instant messenger, a mobile client application, an instant messaging plug-in application or “widget.” The mobile client application, resident on the mobile device, simplifies access and performing financial transactions in a fast, secure manner.

Claims

1. A financial transactions system comprising:

a consumer interface, coupled to a network, comprising;

a Web interface to handle transaction requests from a Web browser client;

a mobile Internet browser to handle transaction requests from a mobile Internet browser on a mobile phone client;

an SMS interface to handle transaction requests using SMS text messaging; and

a mobile client application interface to handle requests from a mobile client application executing on mobile phone client.

2. The system of claim 1 wherein the consumer interface further comprises:

an interactive voice response interface to handle requests from a telephone voice channel.

3. The system of claim 1 comprising:

a pooled account for newly registered users, wherein newly registered users can conduct transactions from registered users immediately after registration.

4. The system of claim 1 wherein the mobile client application interface permits a send money transaction, loading account transaction, unload account transaction, and balance inquiry transaction.

5. The system of claim 1 wherein the consumer interface further comprises:

an instant messenger interface to handle requests from an instant messenger client.

6. The system of claim 1 comprising:

a financial partner interface;

a merchant interface, wherein users through the consumer interface can access their money at a bank coupled to the system through the financial partner interface and transfer money to merchants coupled to the merchant interface.

7. The system of claim 1 comprising:

a system of record managed by the financial transaction system, recording transaction executed through the consumer interface.

8. The system of claim 1 comprising:

a pooled account managed by the financial transaction system, wherein a plurality of the clients accessing the system through the consumer interface have an account in the pooled account.

9. The system of claim 8 wherein a plurality of the clients do not have an account in the pooled account but instead an account at a financial institution, which has access to the system.

10. A method comprising:

providing an application program interface to conduct transactions with a first financial partner;

providing an SMS messaging interface to receive requests to conduct transactions; and

providing a mobile client application interface to receive requests to conduct transactions, wherein through the SMS messenger interface or the mobile client interface, a client can request a transfer money from a first account at the first financial partner to a second account at the second financial partner.

11. The method of claim 10 comprising:

providing an applications program interface to conduct transactions with a second financial partner, wherein through the SMS messenger interface or the mobile client interface, a client can request a transfer money from an account at the first financial partner to an account at the second financial partner.

12. The method of claim 10 comprising:

providing a system of record to record transactions requested through the SMS messaging and mobile client interfaces.