SYSTEM FOR ANONYMOUS FUNDS TRANSFER USING ADHOC STAGING ACCOUNTS

• US 20140095383A1
• Filed: 12/11/2013
• Published: 04/03/2014
• Est. Priority Date: 10/20/2011
• Status: Abandoned Application

• Current Assignee: Bindu Rama Rao
• Original Assignee: Bindu Rama Rao
• Inventors: RAO, BINDU RAMA
• Application Number:
  US14/102,509
• Publication Number:
  US 20140095383A1
• Time in Patent Office: Days
• US Class Current: 705/43
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/383 Anonymous user system
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/388 using mutual authentication without cards, e.g. challenge-response
• 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: G07F 7/1025 Identification of user by a PIN code

Abstract

A system for conducting funds transfer using a sender mobile device and a recipient mobile device and using adhoc staging accounts that only exist for one-time use during the funds transfer. In one embodiment, a sender can use the source ATM or his mobile device to initiate a funds transfer, or select a bank account online for funds transfer. Similarly, the recipient uses the recipient mobile device to receive funds into a bank account or to receive digital currency into a digital wallet. The recipient provides a transaction id and security information (such as a security token, for example) when prompted by the user interaction screens on the recipient mobile device, for example. The sender and the recipient need not have any bank accounts to conduct funds transfer.

Claims

1. A computer-implemented method of making an anonymous funds transfer from a first mobile device to a recipient device, the method comprising:

providing to a host server, confirmation of receipt of funds for a funds transfer from a sender along with recipient device particulars and fund transfer instructions, wherein the receipt of funds is associated with a transfer amount; and

communicating at least a transaction id representing the funds transfer to a recipient device for notifying a recipient;

allowing identification of the funds transfer based at least on the transaction id, thereby enabling redemption of the transfer amount by the recipient;

delivering the transfer amount or a subset thereof to the recipient upon successfully verifying the transaction id; and

communicating a notification to the first mobile device of the sender regarding the successful delivery of the transfer amount to the recipient.

2. The computer-implemented method of claim 1 wherein the receipt of funds from the sender occurs when the sender identifies a sender account associated with the sender and authorizes a withdrawal of the transfer amount from the sender account.

3. The computer-implemented method of claim 1 wherein the delivering the transfer amount to the recipient occurs when the recipient identifies a recipient account associated with the recipient and authorizes a deposit of the transfer amount to the recipient account.

4. The computer-implemented method of claim 1 wherein delivering the transfer amount or a subset thereof to the recipient occurs after the recipient identifies a recipient account at a recipient bank, wherein the recipient account at the recipient bank get credited with the transfer amount or a subset thereof.

5. The computer-implemented method of claim 1 wherein the recipient identifies the recipient account and the recipient bank online employing the recipient device after receiving the communication with the transaction id.

6. The computer-implemented method of claim 1 wherein delivering the transfer amount or a subset thereof to the recipient occurs after the recipient identifies an ATM at a specific location for collecting the transfer amount, or agrees to use an ATM at a location that is recommended, as a venue for receiving the transfer amount or a subset thereof in the form of currency notes.

7. The computer-implemented method of claim 1 wherein delivering the transfer amount or a subset thereof to the recipient occurs in the form of a digital currency of choice specified by the recipient.

8. The computer-implemented method of claim 1 wherein delivering the transfer amount or a subset thereof to the recipient occurs in a currency of choice specified by the recipient.

9. The computer-implemented method of claim 1 wherein receipt of funds from the sender occurs in a currency of choice specified by the recipient.

10. The computer-implemented method of claim 1 wherein receipt of funds from the sender occurs in a digital currency of choice specified by the recipient.

11. The computer-implemented method of claim 1 wherein the recipient account and the recipient bank are determined by the host server based on a search conducted or based on a user preference stored, before the delivering of the transfer amount or a subset thereof to the recipient.

12. A computer-implemented system of providing an anonymous payment from a first mobile device to a second device to enable an electronic payment between a first user and a second user without provision of an account number or name from at least the first user, the computer-implemented system comprising at least one computer wherein the at least one computer is configured to:

receive instructions from the first mobile device sent by a first user;

retrieve the instructions and execute the instructions to perform funds transfer;

generate a transaction id and a security token;

transmit at least the transaction ID and the security token to the first user or the second user or both based on first user preference;

receive the transaction ID and the security token from the second user;

verify the authenticity of the transaction id and security token received from the second user, and on successful authentication, authorize the payment of the first amount to the second user.

13. The computer-implemented system of claim 12 wherein the at least one computer is additionally configured to communicate at least the transaction id and the security token to the second device for review and optional storage by the second user.

14. The computer-implemented system of claim 12 wherein the at least one computer is further configured to:

transfer a digital currency equivalent to the first amount to an account associated with the second user upon successful verification the authenticity of the transaction id and security token.

15. The computer-implemented system of claim 13 wherein the second user identifies an account associated with the second user just before receiving the first amount.

16. The computer-implemented system of claim 12 wherein the system receives an identify of an account associated with the second user along with the transaction id and the security token and immediately initiates disbursing of the first amount to the account associated with the second user.

17. The computer-implemented system of claim 16 wherein the account associated with the second user is a digital currency wallet of the second user that is managed by the second user on the second device.

18. A method for funds transfer and online payment, the method comprising:

anonymously transferring a first funds transfer amount into a first adhoc staging account and retrieving a first identification of the adhoc staging account and a first security information;

initiating a funds transfer transaction by specifying an identify associated with a recipient mobile device;

receiving a delivery request for the first funds transfer amount along with the first identification and the first security information;

disbursing the first funds transfer amount to a recipient from the adhoc staging account upon verification of the first identification and the first security information; and

permanently closing the adhoc staging account after disbursing.

19. The method of claim 18 further comprising:

communicating the first identification of the adhoc staging account and a first security information to the recipient mobile device as a notification to the recipient.

20. The method of claim 18 wherein the identify associated with a recipient mobile device is a mobile phone number and wherein receiving the delivery request occurs from the recipient mobile device.