ESTABLISHING AN ACCOUNT LIMIT FOR A DIGITAL WALLET ACCOUNT

• US 20140250003A1
• Filed: 03/31/2014
• Published: 09/04/2014
• Est. Priority Date: 04/30/1999
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Inventors: Levchin, Max R., Banister, Scott, Nosek, Luke, Thiel, Peter
• Application Number:
  US14/231,538
• Publication Number:
  US 20140250003A1
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/38215 Use of certificates or encrypted proofs of transaction rights
• 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 20/40145 Biometric identity checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0214 Referral reward systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Information is received via a wallet application on a mobile device. A verification process is performed on the information received via the wallet application. A limit is established for a user account based on an amount of the information received via the wallet application that is verified in the verification process.

Claims

1. A method comprising:

receiving, at a networked system, information via a wallet application on a mobile device;

performing, a verification process on the information received via the wallet application; and

establishing, by a hardware processor, a limit for a user account based on an amount of the information received via the wallet application being verified in the verification process.

2. The method of claim 1, wherein the information received via the wallet application that a verification process is performed on comprises one or more of a name, telephone number, an e-mail address, a physical address, or a network address.

3. The method of claim 1, wherein the information received via the wallet application that a verification process is performed on comprises a social security number.

4. The method of claim 1, wherein the information received via the wallet application that a verification process is performed on comprises a credit card.

5. The method of claim 1, wherein the information received via the wallet application that a verification process is performed on comprises a bank account.

6. The method of claim 1, wherein the establishing the limit for the account comprises establishing a limit on an amount of value a user can transfer through the networked system.

7. The method of claim 1, wherein the establishing the limit for the account comprises establishing a limit on a number of transactions that a user may be involved in at a given time.

8. The method of claim 1, wherein the establishing the limit for the account comprises establishing an amount of credit for the user account.

9. The method of claim 1, wherein a portion of the information received via the wallet application is derived from the mobile device.

10. The method of claim 1, wherein a portion of the information received via the wallet application is derived from a signal sent by the mobile device.

11. A machine-readable medium having no transitory signals and storing instructions that, when executed by one or more processors of a machine, cause the machine to perform operations comprising:

receiving, at a networked system, information via a wallet application on a mobile device;

performing, a verification process on the information received via the wallet application; and

establishing a limit for a user account based on an amount of the information received via the wallet application being verified in the verification process.

12. The machine-readable medium of claim 11, wherein the establishing the limit for the account comprises establishing a limit on an amount of value a user can transfer through the networked system.

13. The machine-readable medium of claim 11, wherein the establishing the limit for the account comprises establishing a limit on a number of transactions that a user may be involved in at a given time.

14. The machine-readable medium of claim 11, wherein the establishing the limit for the account comprises establishing an amount of credit for the user account.

15. The machine-readable medium of claim 11, wherein a portion of the information received via the wallet application is derived from the mobile device.

16. The machine-readable medium of claim 11, wherein a portion of the information received via the wallet application is derived from a signal sent by the mobile device.

17. A networked system comprising:

one or more servers configured to;

receive, at the networked system, information via a wallet application on a mobile device;

perform, a verification process on the information received via the wallet application; and

establish a limit for a user account based on an amount of the information received via the wallet application being verified in the verification process.

18. The networked system of claim 17, wherein the one or more servers are configured to establish the limit for the account by establishing a limit on an amount of value a user can transfer through the networked system.

19. The networked system of claim 17, wherein the one or more servers are configured to establish the limit for the account by establishing a limit on a number of transactions that a user may be involved in at a given time.

20. The networked system of claim 17, wherein the one or more servers are configured to establish the limit for the account by establishing an amount of credit for the user account.