FUNDING ON-LINE ACCOUNTS

• US 20100082468A1
• Filed: 09/30/2008
• Published: 04/01/2010
• Est. Priority Date: 09/30/2008
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Low, Gak-Wee, Kotecha, Tejas Arvindbhai, Mody, Salil
• Granted Patent: US 7,860,772 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• 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 40/03 Credit; Loans; Processing thereof

Abstract

A system generates an identifier when a consumer deposits cash, where a new unique identifier is generated with each transaction. The consumer receives the identifier and the identifier (along with the amount of cash deposit) is communicated to a payment provider for storage. The consumer may then access and fund an on-line account with the financial services provider by first accessing the account and entering the unique character identifier, which the system processes. If the identifier is valid, e.g., an actual stored identifier within the system associated with a cash amount, then the system transfers that amount to the consumer'"'"'s account. At this point, the consumer may use the account to make an on-line transaction or purchase with the newly funded amount.

Claims

1. A method of funding an on-line account, comprising:

storing a first identifier corresponding to a cash value deposit, wherein the first identifier includes information about the amount of the cash value deposit;

determining whether a second identifier provided by a user matches the first identifier and is valid; and

transferring a cash equivalent of the cash value deposit to an account of the user if the second identifier matches the first identifier and is valid.

2. The method of claim 1, wherein the first identifier is unique to each cash deposit.

3. The method of claim 1, wherein the first identifier comprises a sequence of characters, letters, and/or numbers.

4. The method of claim 1, further comprising receiving the first identifier from a remote cash value deposit location.

5. The method of claim 1, further comprising generating the first identifier.

6. The method of claim 1, wherein the cash value deposit is cash.

7. The method of claim 1, further comprising converting the cash value deposit to a cash value.

8. A method of funding an on-line account, comprising:

receiving a cash value deposit from a user;

providing the user with a unique identifier associated with the cash value deposit; and

communicating information about the cash value deposit to an on-line payment provider, wherein an on-line account of the user is funded with a cash equivalent of the cash value deposit amount when the unique identifier is validated by the on-line payment provider.

9. The method of claim 8, wherein the receiving is via a machine.

10. The method of claim 8, further comprising generating the unique identifier after the receiving.

11. The method of claim 8, wherein the unique identifier comprises a sequence of characters, letters, and/or numbers.

12. The method of claim 8, further comprising receiving an entered cash amount from the user before the providing.

13. The method of claim 8, wherein the providing comprises printing the identifier on a receipt.

14. The method of claim 8, wherein the providing comprises encoding the identifier.

15. The method of claim 14, wherein the encoding comprises encoding an RFID tag or printing a barcode.

16. The method of claim 8, wherein the information comprises the unique identifier and cash value deposit amount.

17. A method of funding an on-line account, comprising:

depositing a cash value item;

receiving a unique identifier associated with the cash value item;

accessing the on-line account with a payment provider;

inputting the unique identifier; and

receiving confirmation of a cash equivalent of the cash value item transferred into the on-line account if the unique identifier matches a valid identifier stored with the payment provider.

18. The method of claim 17, wherein the unique identifier comprises a sequence of characters, letters, and/or numbers.

19. The method of claim 17, wherein the cash value item is cash.

20. The method of claim 19, further comprising entering an amount of the cash to be deposited.

21. The method of claim 17, wherein the depositing and the accessing are at different locations.

22. A computer-readable medium containing instructions that cause a service provider facilitating financial transactions over a network to perform a method comprising:

storing a first identifier corresponding to a cash value deposit, wherein the first identifier includes information about the amount of the cash value deposit;

determining whether a second identifier provided by a user matches the first identifier and is valid; and

transferring a cash equivalent of the cash value deposit to an account of the user if the second identifier matches the first identifier and is valid.

23. The computer-readable medium of claim 22, wherein the first identifier is unique to each cash value deposit.

24. The computer-readable medium of claim 22, wherein the first identifier comprises a sequence of characters, letters, and/or numbers.

25. The computer-readable medium of claim 22, wherein the method further comprises receiving the first identifier from a remote cash deposit location.

26. The computer-readable medium of claim 22, wherein the method further comprises generating the first identifier.