N TO N MONEY TRANSFERS

• US 20120023008A1
• Filed: 07/22/2010
• Published: 01/26/2012
• Est. Priority Date: 07/22/2010
• Status: Abandoned Application

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Owen, David A., Michelsen, Michael, Bulawa, Kurt, Demark, Michele
• Application Number:
  US12/841,333
• Publication Number:
  US 20120023008A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/29 characterised by micropayments
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Various methods, systems, and devices are described for performing money transfers to one or more payees from one or more payors using a money transfer system. A party, such as a payor, a payee, or a third party may create a set of payee rules. The same or a different party may also create a set of payor rules. The payee rules may comprise conditions which, when satisfied, permit a payee to receive funds from a funds pool. The payor rules may comprise conditions which, when satisfied, permit a payor to provide funds to the funds pool. The money transfer system may determine whether requests from a payor and a payee comply with the payor rules and the payee rules, respectively. Based on the determination, the payor and/or payee may be permitted to complete their requested transaction, or their transaction may be denied.

Claims

1. A method for performing money transfers to a plurality of payees from a payor using a money transfer system, the method comprising:

receiving, by the money transfer system, a set of payee rules from the payor, wherein;

the payee rules identify each payee of the plurality of payees;

the payee rules comprise conditions which, when satisfied, permit each payee of the plurality of payees to receive funds from a funds pool; and

the payee rules comprise conditions that define an amount of funds that each payee of the plurality of payees is permitted to receive from the funds pool;

storing, by the money transfer system, the set of payee rules;

receiving, by the money transfer system, an indication that funds have been received from the payor, wherein access to the funds by the plurality of payees is determined using the set of payee rules;

linking, by the money transfer system, the funds received from the payor to the funds pool;

receiving, by the money transfer system, a first request for funds from the funds pool from a first payee of the plurality of payees;

determining, by the money transfer system, the first request complies with a first subset of conditions comprising the set of payee rules;

providing, by the money transfer system, a first amount of funds from the funds pool to the first payee;

receiving, by the money transfer system, a second request for funds from the funds pool from a subsequent payee of the plurality of payees;

determining, by the money transfer system, the second request complies with a second subset of conditions comprising the set of payee rules, wherein the second subset of conditions comprises at least one condition different from the conditions in the first subset of conditions; and

providing, by the money transfer system, a second amount of funds to the subsequent payee.

2. The method of claim 1, wherein the set of payee rules define how much of the funds from the funds pool received from the payor each payee of the plurality of payees is permitted to receive.

3. The method of claim 1, wherein the payee rules limit the second amount of funds provided to the subsequent payee at least partially based on the first amount of funds provided to the first payee.

4. The method of claim 1, wherein:

the first request for funds identifies a requested amount of funds; and

determining that the first request complies with the first subset of conditions of the payee rules further comprises determining the requested amount of funds complies with the first subset of the conditions of the payee rules.

5. The method of claim 1, further comprising:

receiving, by the money transfer system, following the second amount of funds being provided to the subsequent payee, additional funds from the payor; and

receiving, by the money transfer system, from the payor, an indication that the payee rules apply to the additional funds received from the payor.

6. The method of claim 1, wherein the set of payee rules defines percentages that determine amounts of funds from the funds pool that is permitted to be provided to each of the plurality of payees.

7. The method of claim 1, wherein:

the money transfer system comprises a plurality of agent locations;

the first amount of funds provided to the first payee is provided in cash at a first agent location;

the second amount of funds provided to the subsequent payee is provided in cash at a second agent location; and

the first agent location and the second agent location are physically separate agent locations.

8. A method for performing money transfers from a plurality of payors to a payee using a money transfer system, the method comprising:

receiving, by the money transfer system, a set of payor rules from the payee, wherein the payor rules comprise conditions that identify circumstances in which the plurality of payors is permitted to provide funds to a funds pool;

storing, by the money transfer system, the set of payor rules;

receiving, by the money transfer system, a first request to provide funds to the funds pool from a first payor of the plurality of payors to the payee;

determining, by the money transfer system, the first request complies with the set of payor rules;

receiving, by the money transfer system, an indication that funds have been received from the first payor, wherein the funds are received following the determination that the first request complies with the set of payor rules;

linking, by the money transfer system, the funds received from the first payor to the funds pool;

receiving, by the money transfer system, a second request to provide funds to the funds pool from a second payor of the plurality of payors to the payee;

determining, by the money transfer system, the second request complies with the set of payor rules;

receiving, by the money transfer system, funds from the second payor, wherein the funds are received following the determination that the second request complies with the set of payor rules; and

linking, by the money transfer system, the funds received from the second payor to the funds pool.

9. The method of claim 8, further comprising:

providing at least a portion of the first and second amount of funds from the funds pool to the payee.

10. The method of claim 8, wherein the set of payor rules defines a minimum amount of funds permitted to be provided by each payor of the plurality of payors to the funds pool.

11. The method of claim 8, wherein the payor rules define a minimum amount of funds that the second amount of funds provided by the second payor to the funds pool can be, the minimum amount of funds being at least partially based on the first amount of funds provided by the first payor to the funds pool.

12. The method of claim 8, further comprising:

transmitting, by the money transfer system, a notification to each of the plurality of payors, wherein the notification indicates that the payee has requested funds.

13. The method of claim 12 wherein the notification further comprises an indication of a minimum amount that the payee is requesting from the payor of the plurality of payors.

14. The method of claim 8, wherein:

the money transfer system comprises a plurality of agent locations;

the first amount of funds provided by the first payor is provided in cash at a first agent location;

the second amount of funds provided by the second payor is provided in cash at a second agent location; and

the first agent location and the second agent location are physically separate agent locations.

15. The method of claim 8, wherein the payor rules identify each payor of the plurality of payors.

16. A method for performing money transfers to a plurality of payees from a plurality of payors using a money transfer system, the method comprising:

receiving, by the money transfer system, a set of payee rules from a master party, wherein;

the payee rules identify each of the plurality of payees;

the payee rules identify circumstances in which each payee of the plurality of payees is permitted to receive funds from a funds pool; and

the payee rules identify circumstances that define an amount of funds that each payee of the plurality of payees is permitted to receive from the funds pool;

storing, by the money transfer system, the set of payee rules;

receiving, by the money transfer system, a set of payor rules from the master party, wherein;

the set of payor rules identify circumstances in which each payor of the plurality of payors is permitted to provide funds to the funds pool;

storing, by the money transfer system, the set of payor rules;

receiving, by the money transfer system, a first request to provide a first amount of funds from a first payor of the plurality of payors to the funds pool;

determining, by the money transfer system, the first request complies with the set of payor rules;

receiving, by the money transfer system, the first amount of funds from the first payor, wherein the first amount of funds are received following the determination that the first request complies with the set of payor rules;

linking, by the money transfer system, the first amount of funds to the funds pool;

receiving, by the money transfer system, a second request to provide a second amount of funds from a second payor of the plurality of payors to the funds pool;

determining, by the money transfer system, the second request complies with the set of payor rules; and

receiving, by the money transfer system, the second amount of funds from the second payor, wherein the second amount of funds is received following the determination that the second request complies with the set of payor rules;

linking, by the money transfer system, the second amount of funds to the funds pool;

receiving, by the money transfer system, a first request for funds from the funds pool, the first request received being from a first payee of the plurality of payees;

determining, by the money transfer system, the first request complies with the set of payee rules;

providing, by the money transfer system, a third amount of funds to the first payee from the funds pool;

receiving, by the money transfer system, a second request for funds from the funds pool, the second request received being from a second payee of the plurality of payees;

determining, by the money transfer system, the second request complies with the set of payee rules; and

providing, by the money transfer system, a fourth amount of funds to the second payee from the funds pool.

17. The method of claim 16, wherein the master party is a payor of the plurality of payors.

18. The method of claim 16, wherein the master party is a payee of the plurality of payees.

19. The method of claim 16, wherein the payee rules further comprise a rule that prevents the plurality of payees from receiving funds until a minimum total amount of funds has been provided by the plurality of payors.

20. The method of claim 16, wherein:

the money transfer system comprises a plurality of agent locations;

the third amount of funds provided to the first payee is provided in cash at a first agent location;

the fourth amount of funds provided to the second payee is provided in cash at a second agent location; and

the first agent location and the second agent location are physically separate.