Location transaction processing system

• US 20120278201A1
• Filed: 04/26/2011
• Published: 11/01/2012
• Est. Priority Date: 04/26/2011
• Status: Abandoned Application

• Current Assignee: Dwolla, Inc.
• Original Assignee: Dwolla, Inc.
• Inventors: Milne, Benjamin P.
• Application Number:
  US13/066,812
• Publication Number:
  US 20120278201A1
• Time in Patent Office: Days
• US Class Current: 705/26.41
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system for identifying the location of a user and presenting the user with the location of nearby merchants that accept payment from a payment system associated with the user'"'"'s mobile communication device. Upon opening an application associated with the system within the mobile communication device, the user is presented with a map of the user'"'"'s location, including tags of nearby merchants that accept the payment system. The user may choose a particular merchant by selecting the tag on the map associated with that merchant. The user may input a personal identification number and a payment amount, which authorizes the transfer of funds from a user account to the merchant account via the mobile communication device.

Claims

1. A method for paying a transaction comprising:

(a) providing a mobile communication device associated with a user;

(b) providing a communication device associated with a recipient;

(c) providing an external financial database;

(d) creating a user account;

(e) associating the user account with the external financial system;

(f) creating a recipient account;

(g) associating the recipient account with the external financial system;

(h) determining a first geographic location associated with the mobile communication device;

(i) displaying information associated with the recipient on the mobile communication device;

(j) authorizing a transaction between the user and the recipient;

(k) displaying a transaction interface on the mobile communication device;

(l) authorizing the transfer of a predetermined amount of funds from the user account to the recipient account;

(m) transferring the predetermined amount of funds for the user account to the recipient account; and

(n) displaying a fund transfer confirmation on the communication device associated with the recipient.

2. The method for paying for a transaction of claim 1, wherein the recipient is a retailer.

3. The method for paying for a transaction of claim 1, wherein displaying information associated with the retailer comprises:

(a) generating a map which includes the second geographic location associated with the recipient on the mobile communication device;

(b) displaying the map on the mobile communication device; and

(c) displaying a tag on the map associated with the second geographic location associated with the recipient on the mobile communication device.

4. The method for paying for a transaction of claim 3, wherein determining a second geographic location associated with the recipient comprises:

(a) associating a recipient database with the external financial database;

(b) storing information on the recipient database;

(c) wherein the information comprises an index of potential recipients and geographic locations associated with the potential recipients; and

(d) selecting the recipient from the recipient database based upon the recipient'"'"'s proximity to the first geographic location.

5. The method for paying for a transaction of claim 4, wherein determining a first geographic location associated with the mobile communication device comprises determining a first geographic location associated with the mobile communication device using a global positioning system.

6. The method for paying for a transaction of claim 4, wherein determining a first geographic location associated with the mobile communication device comprises determining a first geographic location associated with the mobile communication device using signal triangulation.

7. The method for paying for a transaction of claim 3, wherein determining a first geographic location associated with the mobile communication device comprises determining a first geographic location associated with the mobile communication device using a global positioning system.

8. The method for paying for a transaction of claim 1, wherein determining a first geographic location associated with the mobile communication device comprises determining a first geographic location associated with the mobile communication device using a global positioning system.

9. The method for paying for a transaction of claim 1, wherein the communication device associated with the recipient comprises a mobile communication device.

10. The method for paying for a transaction of claim 9, wherein determining a second geographic location associated with the recipient comprises determining a second geographic location associated with the recipient using a global positioning system.

11. The method for paying for a transaction of claim 1, wherein determining a second geographic location associated with the recipient comprises determining a second geographic location associated with the recipient using a global positioning system.

12. The method for paying for a transaction of claim 1, wherein the external system is associated with a financial system.

13. A method for paying for a transaction comprising:

(a) providing a mobile communication device associated with a user;

(b) providing a communication device associated with a recipient;

(c) providing an external financial database;

(d) creating a user account;

(e) associating the user account with the external financial system;

(f) creating a recipient account;

(g) associating the recipient account with the external financial system;

(h) associating a recipient database with the external financial database;

(i) storing information on the recipient database, wherein the information comprises;

(i) a plurality of potential recipients;

(ii) a plurality of geographic locations associated with the potential recipients;

(j) using the mobile communication device to determine a geographic location associated with the mobile communication device; and

(k) selecting the recipient from the recipient database based upon the distance of the recipient from the geographic location.

14. The method for paying for a transaction of claim 13, wherein the recipient is a retailer.

15. The method for paying for a transaction of claim 13, further comprising tagging the map with a plurality of potential recipients having geographic locations located on the map.

16. The method for paying for a transaction of claim 13, wherein using the mobile communication device to determine a geographic location associated with the mobile communication device comprises using a global positioning system to determine the geographic location.

17. The method for paying for a transaction of claim 13, wherein using the mobile communication device to determine a geographic location associated with the mobile communication device comprises using signal triangulation to determine the geographic location.

18. A financial transaction system comprising:

(a) a mobile communication device;

(b) a communication device;

(c) a server comprising;

(i) a processor;

(ii) memory that stores instructions for causing the processor to perform the following operations;

(1) maintaining data indicating a user account;

(2) maintaining data indicating a recipient account;

(3) determining a first geographic location associated with a user; and

(4) determining a second geographic location associated with a recipient;

(5) sending information to the mobile communication device;

(6) receiving a fund transfer authorization from the mobile communication device;

(7) transferring a predetermined amount of funds associated with the authorization from the user account to the recipient account; and

(8) sending a fund transfer confirmation to the communication device.

19. The financial transaction system of claim 18, wherein using the mobile communication device to determine a geographic location associated with the mobile communication device comprises using a global positioning system to determine the geographic location.

20. The financial transaction system of claim 18, wherein using the mobile communication device to determine a geographic location associated with the mobile communication device comprises using signal triangulation to determine the geographic location.