Methods and System for Utilizing Cash with Online Activities

• US 20120290477A1
• Filed: 05/12/2011
• Published: 11/15/2012
• Est. Priority Date: 05/12/2011
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Clausen, Jason, Smith, Gordon, Hutcheson, Katie, Thomas, Paul, Parvis, Joseph Anthony
• Granted Patent: US 10,417,618 B2
• Time in Patent Office: Days
• US Class Current: 705/43
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes

Abstract

Systems and methods for facilitating cash payments for online transactions are provided. In some embodiments, a transaction is initiated online with a retailer where a user indicates that payment will be made for the transaction using cash. The user may then complete payment of the transaction with a cash payment service establishment using transaction identification information given to the user. Systems and methods for retrieving funds from an online/virtual account are also provided. In some embodiments, a user is able to initiate a funds transfer from an online/virtual account which are to be received in the form of cash at a money transfer service location.

Claims

1. A method comprising:

receiving a transaction code provided by a customer at a cash payment service location, said online transaction code generated by an online retail establishment;

verifying transaction details associated with said transaction code to determine whether the transaction is valid;

receiving notification that a cash payment from said customer was received at the cash payment service location, said cash payment corresponding to a transaction indicated by said transaction code; and

notifying said online retail establishment that payment for the indicated transaction has been received.

2. The method of claim 1 wherein said transaction code is provided in a printout from said customer.

3. The method of claim 2 wherein said transaction code is received without prior interaction between said online retailer and said cash payment service location.

4. The method of claim 1 wherein said transaction code provides information with respect to said retailer and said transaction amount.

5. The method of claim 1 wherein said transaction code is provided from a mobile device of said customer.

6. The method of claim 1 wherein said transaction code is encoded in a bar code provided by the customer.

7. The method of claim 1 wherein said cash payment service location is a agent location at a physical establishment.

8. The method of claim 1 wherein said cash payment service location is an automated teller machine (ATM).

9. The method of claim 1 wherein said verifying step includes receiving transaction details from the retailer and storing them in a database.

10. The method of claim 1 wherein the step of verifying transaction details associated with said online transaction code to determine whether the transaction is valid comprises accessing a remote database administered by said retail establishment.

11. A method for facilitating a cash payment for an online transaction, said method comprising:

receiving a transaction code from a customer, said transaction code generated as a result of an online purchase from an online retail establishment, wherein said online transaction code is generated by the retail establishment;

communicating with a retail server to verify that the transaction code corresponds to a valid transaction;

receiving confirmation from the retail server that the online purchase corresponding to said transaction code is valid;

accepting a cash payment from said customer at a cash payment service location, said cash payment corresponding to a transaction indicated by said transaction code; and

transmitting an acknowledgement to said retail server that payment for the online purchase has been received, thereby allowing said online retail establishment to fulfill the remainder of the indicated transaction.

12. The method of claim 11 wherein said transmitting an acknowledgement comprises transmitting the acknowledgement through a server of a cash payment network.

13. The method of claim 11 wherein receiving a transaction code from a customer further comprises receiving the transaction code from an electronic transmission from said customer.

14. The method of claim 13 wherein said electronic transmission is one of an email and a short message service communication.

15. The method of claim 11 further comprising scanning a bar code corresponding to said transaction code.

16. The method of claim 11 further comprising issuing a gift card corresponding to the cash payment.

17. The method of claim 11 wherein accepting a cash payment further comprises accepting payment for the purchase and a accepting payment of a cash transaction fee.

18. A system for facilitating an online cash transaction, said system comprising:

a transaction payment processing system, said transaction payment processing system comprising a plurality of processing devices distributed across a plurality of network locations, said processing devices configured to receive transaction identification information corresponding to an online transaction; and

a transmission device associated with one or more of said network locations, said transmission device configured to transmit an authentication message to authenticate received transaction identification information, and said transmission device further configured to transmit payment authentication information to said online service in order to authenticate whether a cash payment has been distributed/received at one of said plurality of network locations.

19. The system of claim 18 wherein transaction identification information is received from a customer prior to any communication from said online service regarding said online transaction.

20. The system of claim 18 wherein transaction identification information is received from an online service associated with said transaction.

21. The system of claim 18 wherein at least one of said plurality of processing devices further comprises an input device communicatively coupled to said transaction payment processing system, said input device configured to accept transaction identification information presented by a customer.

22. The system of claim 18 wherein the online transaction is a retail purchase.

23. The system of claim 18 wherein the online transaction is a cash withdrawal from an online account.

24. A method comprising:

receiving a transaction identifier corresponding to an online transaction, said transaction identifier comprising information about an originating entity corresponding to said transaction;

communicating with a transaction server of said originating entity corresponding to said transaction to verify whether said transaction identifier is valid;

completing the transaction, wherein said completing is accomplished with a local agent of a money transfer service location; and

communicating with the transaction server of said originating entity corresponding to said transaction that the transaction has been completed.

25. The method of claim 24 wherein the online transaction is a retail purchase transaction.

26. The method of claim 24 wherein the online transaction is an online account withdrawal transaction.

27. The method of claim 24 wherein the local agent is an automated teller.

28. A method for retrieving money from an online account, said method comprising:

receiving transaction information by a cash money transfer service, said transaction information originating from an online financial account service provider;

acknowledging receipt of said transaction information at said cash money transfer service;

receiving funds associated with said transaction information at said cash money transfer service;

identifying a recipient associated with said transaction information; and

distributing said funds to said identified recipient at an agent location of said cash money transfer service.

29. The method of claim 28 wherein distributing of said funds includes subtraction of a service fee from said received funds.

30. The method of claim 28 wherein funds may be distributed in a different currency than said funds within said online account.

31. The method of claim 28 wherein funds in said online account are derived from different currencies.