SYSTEMS AND METHODS FOR TRANSFERRING FUNDS FROM A SENDING ACCOUNT

• US 20120239563A1
• Filed: 05/31/2012
• Published: 09/20/2012
• Est. Priority Date: 09/12/2006
• Status: Abandoned Application

• Current Assignee: AKOM Technology Corporation
• Original Assignee: AKOM Technology Corporation
• Inventors: Csoka, Daniel
• Application Number:
  US13/484,905
• Publication Number:
  US 20120239563A1
• Time in Patent Office: Days
• US Class Current: 705/40
• 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 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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 40/12 Accounting

Abstract

Provided herein are methods and systems for transferring funds from a sending account to a payee. In embodiments, the sending account may be a pre-paid wireless telephone account. The methods and systems may involve a transaction management system, an account setup module, a funds transfer module and a reporting module.

Claims

1. A transaction management system comprising:

a first interface to communicate with a billing engine of a telecommunications carrier;

a second interface to accept a request from a mobile device of a payor to transfer an amount of funds from a sending account of the payor maintained by the billing engine of the telecommunications carrier;

a verification module to verify an availability of the amount of funds in the sending account of the payor through the first interface, to create a transaction number with which a payee can receive the amount of funds, and to transmit the transaction number with which the payee can receive the amount of funds;

a third interface to communicate with a point-of-interaction system; and

a settlement and clearing module that, upon receipt of the transaction number from the point-of-interaction system through the third interface, reconciles a transfer of the amount of funds from the payor to the point-of-interaction system, whereby the payee can present the transaction number at the point of interaction and in return receives the amount of funds as cash in proximity to the point-of-interaction system.

2. The transaction management system of claim 1 further comprising a user interface on the mobile device for initiating a transfer of funds from the sending account.

3. The transaction management system of claim 1 wherein the mobile device is a cellular telephone.

4. The transaction management system of claim 1 wherein the transaction number consists of a transaction identification number and a personal identification number.

5. The transaction management system of claim 1 wherein the point-of-interaction system provides a stored value card for at least a portion of the amount of funds.

6. The transaction management system of claim 1 wherein the sending account is selected from the group consisting of a pre-paid wireless telephone account, a pre-paid telephone account, a pre-paid wireless account, a pre-paid land-line telephone account, a pre-paid calling card, a pre-paid stored value card, a pre-paid stored value card associated with a mobile phone, a pre-paid stored value card not associated with a mobile phone, a post-paid wireless telephone account, a post-paid land-line telephone account, a credit card account, a debit card account, an account associated with a mobile phone, an account associated with a landline and an account associated with a stored value card.

7. The transaction management system of claim 1 wherein the sending account is selected from the group consisting of a pre-paid wireless telephone account and a post-paid wireless telephone account.

8. The transaction management system of claim 1 wherein the second interface includes an interactive voice response facility.

9. The transaction management system of claim 1 further comprising a reporting module adapted to:

receive transaction data from the transaction management system;

store the transaction data; and

transmit the transaction data to at least one of the billing engine of the telecommunications carrier and the point-of-interaction system.

10. The transaction management system of claim 9 wherein the reporting module reconciles transactions processed through the transaction management system.

11. The transaction management system of claim 9 wherein the reporting module generates reports periodically.

12. The transaction management system of claim 9 wherein the reporting module generates reports in response to verification that the funds were received.

13. The transaction management system of claim 1 further comprising an account set-up module adapted to:

receive information from the point-of-interaction interaction system on behalf of the payor;

associate the payor and the payee;

generate a pending transaction number for a transaction; and

at least one of receive and send additional information regarding the transaction based on the pending transaction number.

14. The transaction management system of claim 13 wherein the account set-up module includes an interactive voice response system adapted to receive the information from the point-of-interaction system.

15. The transaction management system of claim 13 wherein the additional information is provided at least one of through and to a third party money transfer business.

16. The transaction management system of claim 13 wherein the pending transaction number is generated prior to the transaction being funded.

17. The transaction management system of claim 13 wherein the information received at the transaction management system from the point-of-interaction system includes the amount of funds.

18. The transaction management system of claim 1 wherein the payor also presents personal identification along with the transaction number.

19. The transaction management system of claim 1 wherein the third interface is configured to communicate with a point-of-interaction system that is independent of a banking network.