M-COMMERCE VIRTUAL CASH SYSTEM, METHOD, AND APPARATUS

• US 20100241563A1
• Filed: 06/03/2010
• Published: 09/23/2010
• Est. Priority Date: 03/15/2006
• Status: Active Grant

• Current Assignee: Qualcomm, Inc.
• Original Assignee: Qualcomm, Inc.
• Inventors: WALTMAN, JOAN T.
• Granted Patent: US 8,276,811 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3274 using a pictured code, e.g. barcode or QR-code, being displayed on the M-device
• 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 30/04 Billing or invoicing

Abstract

A virtual cash system, method, and apparatus has an account record containing a record of money amounts associated with a wireless device and a transmitter for wirelessly transmitting to the wireless device predetermined information from the account record. Cash amounts can be spent from the account record directly from the wireless device via information derived from the wireless device via a bar code on the display, a short range radio signal, a light beam, or the like. A different security code is generated for each account transaction for verification.

Claims

1. A method for imposing restrictions on virtual cash transmitted from a first wireless device to a second wireless device, comprising:

establishing a first account record at a processing center which is associated with the first wireless device, the first account record comprising;

a first amount of virtual cash; and

a first security code, wherein the first security code comprises a first fixed code portion to verify a first deposit of money corresponding to the first amount of virtual cash;

establishing at the processing center a second account record which is associated with the second wireless device, the second account record comprising;

a second amount of virtual cash; and

a second security code, wherein the second security code comprises a second fixed code portion to verify a second deposit of money corresponding to the second amount of virtual cash;

transferring a third amount of virtual cash from the first account record to the second account record; and

receiving a restriction associated with the third amount of virtual cash.

2. The method of claim 1, further comprising receiving a request to spend a quantity of the third amount of virtual cash;

and receiving transaction information associated with the request.

3. The method of claim 2, further comprising comparing the transaction information against the restriction, and authorizing or denying the request to spend the quantity of the third amount of virtual cash based on the comparison.

4. The method of claim 1, wherein receiving the restriction comprises receiving an identification of one more merchants in which the third amount of virtual cash may be spent.

5. The method of claim 1, wherein receiving the restriction comprises receiving an identification of one or more product types that may be purchased with the third amount of virtual cash.

6. The method of claim 1, wherein receiving the restriction comprises receiving preauthorized spending limits associated with the third amount of virtual cash.

7. The method of claim 1, wherein each fixed code portion is provided by a financial institution.

8. The method of claim 7, wherein the financial institution comprises a bank.

9. The method of claim 1, wherein receiving the restriction associated with the third amount of virtual cash comprises receiving the restriction from a communication originating from the first wireless device.

10. The method of claim 1, wherein the first and second wireless devices comprise at least one of a wireless telephone device, pager, wireless personal digital assistant, computer with wireless access, a two-way radio, and a walkie-talkie.

11. The method of claim 1, wherein the first and second wireless devices comprise hand-held units.

12. A computer-readable storage device encoded with a computer program, the computer program comprising instructions that, when executed, operate to cause a computer to perform operations comprising:

establishing a first account record at a processing center which is associated with the first wireless device, the first account record comprising;

a first amount of virtual cash; and

a first security code, wherein the first security code comprises a first fixed code portion to verify a first deposit of money corresponding to the first amount of virtual cash;

establishing at the processing center a second account record which is associated with the second wireless device, the second account record comprising;

a second amount of virtual cash; and

a second security code, wherein the second security code comprises a second fixed code portion to verify a second deposit of money corresponding to the second amount of virtual cash;

transferring a third amount of virtual cash from the first account record to the second account record; and

receiving a restriction associated with the third amount of virtual cash.

13. The computer-readable storage device of claim 12, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

receiving a request to spend a quantity of the third amount of virtual cash; and

receiving transaction information associated with the request.

14. The computer-readable storage device of claim 13, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

comparing the transaction information against the restriction, and authorizing or denying the request to spend the quantity of the third amount of virtual cash based on the comparison.

15. The computer-readable storage device of claim 12, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

receiving an identification of one more merchants in which the third amount of virtual cash may be spent.

16. The computer-readable storage device of claim 12, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

receiving an identification of one or more product types that may be purchased with the third amount of virtual cash.

17. The computer-readable storage device of claim 12, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

receiving preauthorized spending limits associated with the third amount of virtual cash.

18. The computer-readable storage device of claim 12, wherein each fixed code portion is provided by a financial institution.

19. The computer-readable storage device of claim 18, wherein the financial institution comprises a bank.

20. The computer-readable storage device of claim 12, wherein the computer program further comprises instructions that cause the computer to perform operations comprising:

receiving the restriction from a communication originating from the first wireless device.

21. The computer-readable storage device of claim 12, wherein the first and second wireless devices comprise at least one of a wireless telephone device, pager, wireless personal digital assistant, computer with wireless access, a two-way radio, and a walkie-talkie.

22. The computer-readable storage device of claim 12, wherein the first and second wireless devices comprise hand-held units.

23. A system for imposing restrictions on virtual cash transmitted from a first wireless device to a second wireless device, comprising:

means for establishing a first account record at a processing center which is associated with the first wireless device, the first account record comprising;

a first amount of virtual cash; and

a first security code, wherein the first security code comprises a first fixed code portion to verify a first deposit of money corresponding to the first amount of virtual cash;

means for establishing at the processing center a second account record which is associated with the second wireless device, the second account record comprising;

a second amount of virtual cash; and

a second security code, wherein the second security code comprises a second fixed code portion to verify a second deposit of money corresponding to the second amount of virtual cash;

means for transferring a third amount of virtual cash from the first account record to the second account record; and

means for receiving a restriction associated with the third amount of virtual cash.

24. The system of claim 23, further comprising means for receiving a request to spend a quantity of the third amount of virtual cash;

and means for receiving transaction information associated with the request.

25. The system of claim 24, further comprising means comparing the transaction information against the restriction, and means for authorizing or denying the request to spend the quantity of the third amount of virtual cash based on the comparison.

26. The system of claim 23, wherein the means for receiving the restriction comprises means for receiving an identification of one more merchants in which the third amount of virtual cash may be spent.

27. The system of claim 23, wherein the means for receiving the restriction comprises means for receiving an identification of one or more product types that may be purchased with the third amount of virtual cash.

28. The system of claim 23, wherein the means for receiving the restriction comprises means for receiving preauthorized spending limits associated with the third amount of virtual cash.

29. The system of claim 23, wherein each fixed code portion is provided by a financial institution.

30. The system of claim 23, wherein the financial institution comprises a bank.

31. The system of claim 23, wherein the means for receiving the restriction associated with the third amount of virtual cash comprises means for receiving the restriction from a communication originating from the first wireless device.

32. The system of claim 23, wherein the first and second wireless devices comprise at least one of a wireless telephone device, pager, wireless personal digital assistant, computer with wireless access, a two-way radio, and a walkie-talkie.

33. The system of claim 23, wherein the first and second wireless devices comprise hand-held units.

34. A processing center for imposing restrictions on virtual cash transmitted from a first wireless device to a second wireless device, comprising:

a computer processor operable to;

establish a first account record at a processing center which is associated with the first wireless device, the first account record comprising;

a first amount of virtual cash; and

a first security code, wherein the first security code comprises a first fixed code portion to verify a first deposit of money corresponding to the first amount of virtual cash;

establish at the processing center a second account record which is associated with the second wireless device, the second account record comprising;

a second amount of virtual cash; and

a second security code, wherein the second security code comprises a second fixed code portion to verify a second deposit of money corresponding to the second amount of virtual cash;

transfer a third amount of virtual cash from the first account record to the second account record; and

receive a restriction associated with the third amount of virtual cash.

35. The processing center of claim 34, wherein the computer processor is further operable to:

receive a request to spend a quantity of the third amount of virtual cash; and

receive transaction information associated with the request.

36. The processing center of claim 35, wherein the computer processor is further operable to:

compare the transaction information against the restriction, and authorize or denying the request to spend the quantity of the third amount of virtual cash based on the comparison.

37. The processing center of claim 34, wherein the computer processor is further operable to:

receive an identification of one more merchants in which the third amount of virtual cash may be spent.

38. The processing center of claim 34, wherein the computer processor is further operable to:

receive an identification of one or more product types that may be purchased with the third amount of virtual cash.

39. The processing center of claim 34, wherein the computer processor is further operable to:

receive preauthorized spending limits associated with the third amount of virtual cash.

40. The processing center of claim 34, wherein each fixed code portion is provided by a financial institution.

41. The processing center of claim 40, wherein the financial institution comprises a bank.

42. The processing center of claim 34, wherein the computer processor is further operable to:

receive the restriction from a communication originating from the first wireless device.

43. The processing center of claim 34, wherein the first and second wireless devices comprise at least one of a wireless telephone device, pager, wireless personal digital assistant, computer with wireless access, a two-way radio, and a walkie-talkie.

44. The processing center of claim 34, wherein the first and second wireless devices comprise hand-held units.