Systems and Methods For In Store Shopping With Instant Cash
First Claim
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1. An apparatus of a service provider comprising:
- a network interface configured to communicate with devices over a network;
a memory configured to store a plurality of machine-readable instructions;
one or more processors configured to execute the machine-readable instructions to;
receive from a payer, who has an account with the service provider, a funding request to authorize funds from the account of the payer for use by a buyer;
process the funding request;
generate a first coupon code used to identify the funds associated with the account of the payer;
transmit to the buyer or the payer the first coupon code;
receive a payment request to transfer a payment amount from the funds associated with the account of the payer to an account of a seller, wherein the payment request comprises the first coupon code;
verify the first coupon code to approve the payment request;
transfer the payment amount from the funds associated with the account of the payer to the account of the seller;
notify the seller;
generate a second coupon code used to identify a balance in the funds if the balance remains after the payment amount from the funds is transferred to the seller; and
transmit to the buyer or the payer the second coupon code.
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Abstract
Systems and methods are disclosed herein for a buyer who does not have an immediate source of funds to request funds in the form of instant cash from a third party account holder of a payment service provider for use in making purchases. The buyer may receive the pre-authorized instant cash in the form of a coupon code from the payment service provider on a mobile device. The seller, who has an account with the payment service provider, may transmit the coupon code and a security code to the payment service provider to request approval for the payment. When approved, the payment service provider may deduct a purchase amount from a balance in the instant cash and credit the amount to the seller'"'"'s account. Advantageously, the buyer and the seller may easily and securely conduct business transactions even when the buyer does not have an immediate source of funds.
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Citations
20 Claims
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1. An apparatus of a service provider comprising:
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a network interface configured to communicate with devices over a network; a memory configured to store a plurality of machine-readable instructions; one or more processors configured to execute the machine-readable instructions to; receive from a payer, who has an account with the service provider, a funding request to authorize funds from the account of the payer for use by a buyer; process the funding request; generate a first coupon code used to identify the funds associated with the account of the payer; transmit to the buyer or the payer the first coupon code; receive a payment request to transfer a payment amount from the funds associated with the account of the payer to an account of a seller, wherein the payment request comprises the first coupon code; verify the first coupon code to approve the payment request; transfer the payment amount from the funds associated with the account of the payer to the account of the seller; notify the seller; generate a second coupon code used to identify a balance in the funds if the balance remains after the payment amount from the funds is transferred to the seller; and transmit to the buyer or the payer the second coupon code. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 10)
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9. (canceled)
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11. A method comprising:
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receiving by a processor of a service provider a funding request from a payer to authorize funds for use by a buyer, wherein the payer has an account with the service provider; processing by the processor the funding request; generating by the processor a first coupon code used to identify the funds associated with the account of the payer; transmitting to the buyer or the payer the first coupon code; receiving a payment request to transfer a payment amount from the funds associated with the account of the payer to an account of a seller, wherein the payment request comprises the first coupon code; verifying the first coupon code to approve the payment request; transferring the payment amount from the funds associated with the account of the payer to the account of the seller; notifying the seller; generating a second coupon code used to identify a balance in the funds if the balance remains after the payment amount from the funds is transferred to the seller; and transmitting to the buyer or the payer the second coupon code. - View Dependent Claims (12, 13, 14, 15, 16, 17, 19)
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18. (canceled)
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20. A non-transitory computer readable medium having computer readable code for instructing a processor of a service provider to perform a method, the method comprising:
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receiving a funding request from a payer to authorize funds for use by a buyer, wherein the payer has an account with the service provider; processing the funding request; generating a first coupon code used to identify the funds associated with the account of the payer; transmitting to the buyer or the payer the first coupon code; receiving a payment request to transfer a payment amount from the funds associated with the account of the payer to an account of a seller, wherein the payment request comprises the first coupon code; verifying the first coupon code to approve the payment request; transferring the payment amount from the funds associated with the account of the payer to the account of the seller; notifying the seller; generating a second coupon code used to identify a balance in the funds if the balance remains after the payment amount from the funds is transferred to the seller; and transmitting to the buyer or the payer the second coupon code.
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Specification
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Current AssigneePayPal, Inc. (PayPal Holdings, Inc.)
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Original AssigneePayPal, Inc. (PayPal Holdings, Inc.)
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InventorsBasha, Javed
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Application NumberUS13/630,508Publication NumberTime in Patent OfficeDaysField of SearchUS Class Current705/44CPC Class CodesG06Q 20/28 Pre-payment schemes, e.g. "...G06Q 20/322 Aspects of commerce using m...G06Q 20/385 using an alias or single-us...G06Q 20/387 Payment using discounts or ...G06Q 40/00 Finance; Insurance; Tax str...
