System And Associated Method And Service For Providing A Platform That Allows For The Exchange Of Cash Between Members In A Mobile Environment

• US 20130024360A1
• Filed: 07/18/2011
• Published: 01/24/2013
• Est. Priority Date: 07/18/2011
• Status: Active Grant

• Current Assignee: Rabih S. Ballout
• Original Assignee: Rabih S. Ballout
• Inventors: Ballout, Rabih S.
• Granted Patent: US 8,554,671 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/381 Currency conversion
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/211 Software architecture within ATMs or in relation to the ATM network
• CPC Class Codes: G07F 9/001 Interfacing with vending machines using mobile or wearable devices

Abstract

A system and associated method and service for providing a platform that enables members to transfer, receive, or otherwise exchange cash in various international denominations and commodities, such as precious metals (e.g., gold, silver, etc.), in a mobile highly secured telecommunications environment. The system is capable of delivering cash instantly between two or more users by allowing the exchange of secure transactions between system and cash dispensing machines (ATMs). Users may pay, receive, exchange, deposit, transfer, pay bills, exchange currency, retrieve cash, deposit cash and create accounts based on the mobile phone number or a system generated code.

Claims

1. A financial service method that provides a cashless platform for enabling users to perform a financial transaction in a mobile environment, the method comprising:

logging in to a user account with a user mobile station;

entering financial information related to the financial transaction; and

the user mobile station receiving a request to generate a scanable code containing the financial information on the user mobile station.

2. The method of claim 1, further including a payment processing center scanning the scanable code;

and

in response to the scanning, the payment processing center effecting the financial transaction.

3. The method of claim 2, wherein the financial transaction includes any one or more of:

a deposit of any of a fund or a commodity;

a withdrawal of any of a fund or a commodity;

a transfer of any of a fund or a commodity;

receiving any of a fund or a commodity;

or

an exchange of any of a fund or a commodity.

4. The method of claim 3, wherein effecting the financial transaction includes the payment processing center dispensing cash to a registered user.

5. The method of claim 3, wherein effecting the financial transaction includes the payment processing center dispensing cash to a non-registered user.

6. The method of claim 3, wherein effecting the financial transaction includes the payment processing center dispensing cash alternative to any of a registered user or a non-registered user.

7. The method of claim 1, wherein logging in to the user account with the user mobile station includes identifying a security level for the financial transaction.

8. The method of claim 7, wherein the security level includes DNA identification.

9. The method of claim 1, further including transmitting the financial information to a mobile transaction platform.

10. The method of claim 9, further including selecting a PAY function on the user mobile station for enabling the mobile transaction platform to execute a payment.

11. The method of claim 9, further including selecting a VIEW-LOAD COUPONS function on the user mobile station for enabling the user mobile station to perform any one or more functions, using the mobile transaction platform:

retrieve digital coupons;

storing the digital coupons;

accepting the digital coupons;

scanning paper coupons into digital coupons;

redeeming the digital coupons;

or

accumulating promotional points based on use.

12. The method of claim 9, further including selecting a SCAN ITEMS function on the user mobile station for enabling the user mobile station to input the financial information by scanning a document, using the mobile transaction platform.

13. The method of claim 9, further including selecting a DEPOSIT function on the user mobile station for enabling the user mobile station to deposit any of funds or commodities in a user account, using the mobile transaction platform.

14. The method of claim 9, further including selecting a LEND-BORROW function on the user mobile station for enabling the user mobile station to lend any of funds or commodities to a third party, using the mobile transaction platform.

15. The method of claim 9, further including selecting a LEND-BORROW function on the user mobile station for enabling a user of the user mobile station to borrow any of funds or commodities from a third party, using the mobile transaction platform.

16. The method of claim 9, further including selecting a WRITE CHECK function on the user mobile station for enabling the user mobile station to prepare a financial instrument payable from a third party, using the mobile transaction platform.

17. The method of claim 9, further comprising the mobile transaction platform providing at least one financial organizer to a user.

18. The method of claim 2, further including using digital currency to effect the financial transaction.

19. The method of claim 18, wherein the digital currency is backed by a commodity.

20. A computer program product that provides a cashless platform for enabling users to perform a financial transaction in a mobile environment, the computer program product comprising:

a module embedded in a user station that enables a user to login in to a user account;

a module embedded in the user station for entering financial information related to the financial transaction; and

a module embedded in the user station for generating a scanable code containing the financial information.