METHODS AND SYSTEMS FOR VALUE TRANSFERS USING A READER DEVICE
First Claim
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1. A method comprising:
- receiving, by a reader device, a first account identifier from a first payment device when the first payment device is passed through the reader device;
receiving, by the reader device, a second account identifier from a second payment device when the second payment device is passed through the reader device;
generating a data message including the first account identifier and the second account identifier; and
sending, to a mobile device associated with the reader device, the data message for transferring funds between a first account associated with the first account identifier and a second account associated with the second account identifier.
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Abstract
Embodiments of the invention are directed to a method and system for conducting fund transfers between a plurality of payment devices using a reader device associated with a mobile device. The plurality of payment devices may be read by the reader device and payment data for the plurality of payment devices may be sent to a payment processing network to perform a funds transfer process. In other embodiments, a plurality of prepaid cards can be read by the reader device and prepaid card data for the plurality of prepaid cards may be sent to the payment processing network to perform a consolidation of the values of the plurality of prepaid cards.
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Citations
20 Claims
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1. A method comprising:
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receiving, by a reader device, a first account identifier from a first payment device when the first payment device is passed through the reader device; receiving, by the reader device, a second account identifier from a second payment device when the second payment device is passed through the reader device; generating a data message including the first account identifier and the second account identifier; and sending, to a mobile device associated with the reader device, the data message for transferring funds between a first account associated with the first account identifier and a second account associated with the second account identifier. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method comprising:
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receiving, from a mobile device, a message including a first account identifier and a second account identifier, the first account identifier and the second account identifier previously received by the mobile device via a reader device associated with the mobile device, and a transaction amount; evaluating, by a computer, the message to determine a first issuer associated with the first account identifier and a second issuer associated with the second account identifier; and initiating a transfer of funds for the transaction amount from a first account at the first issuer to a second account at the second issuer. - View Dependent Claims (8, 9, 10, 11, 12, 13)
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14. A server computer comprising a processor, and a computer readable medium coupled to the processor, the computer readable medium comprising code for implementing a method comprising:
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receiving, from a mobile device, a message including a first account identifier and a second account identifier, the first account identifier and the second account identifier previously received by the mobile device via a reader device associated with the mobile device, and a transaction amount; evaluating, by a computer, the message to determine a first issuer associated with the first account identifier and a second issuer associated with the second account identifier; and initiating a transfer of funds for the transaction amount from a first account at the first issuer to a second account at the second issuer. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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Specification