ITEM-SPECIFIC MONEY TRANSFER METHODS AND SYSTEMS

• US 20140297480A1
• Filed: 06/11/2014
• Published: 10/02/2014
• Est. Priority Date: 03/30/2010
• Status: Abandoned Application

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Dunwoody, Kimberly, Paintin, Scott
• Application Number:
  US14/301,352
• Publication Number:
  US 20140297480A1
• Time in Patent Office: Days
• US Class Current: 705/26.64
• 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 20/385 using an alias or single-use codes
• 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 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/123 Tax preparation or submission

Abstract

The invention provides various systems and methods for implementing item-specific money transfers. The method includes receiving identification of an item, determining a vendor and a price of the item, and receiving, from a receiver, a money transfer request for an amount of the price of the item. The money transfer request identifies a sender. The method further includes sending the money transfer request to the sender, receiving, from the sender, authorization for a money transfer in an amount of the price of the item. The authorization includes an indication that funds from the money transfer are restricted for use only for the item.

Claims

1. A method of implementing item-specific money transfers, the method comprising:

receiving, at a money transfer computer processor, a barcode of an item and a photograph of the item;

based on the barcode of the item and the photograph of the item, determining, by the money transfer computer processor, a vendor for the item and a price of the item;

receiving, at the money transfer computer processor, from a receiver, a money transfer request for an amount of the price of the item, wherein the money transfer request identifies a sender;

sending, by the money transfer computer processor, the money transfer request to the sender;

based on the barcode of the item and the photograph of the item, restricting the funds for the money transfer to only be used for payment to the vendor for the item;

based on the restricting of the funds, receiving, at the money transfer computer processor, from the sender, an authorization for a money transfer in the amount of the price of the item, wherein the authorization includes an indication that funds from the money transfer are restricted for use only for the item.

2. The method of implementing item-specific money transfers as in claim 1, wherein the interface comprises a kiosk.

3. The method of implementing item-specific money transfers as in claim 1, further comprising:

sending a photograph of the item or a substitute for the item to the money transfer computer processor;

determining that no match of the item or a substitute for the item is found; and

in response to no match of the item or a substitute for the item being found, identifying one or more related items.

4. The method of implementing item-specific money transfers as in claim 1, further comprising providing a price comparison interface to one or more of the following:

the sender, the receiver, or vendor.

5. The method of implementing item-specific money transfers as in claim 4, wherein the price comparison interface is configured to search one or more of the following:

a database of items or substitutes for the items for the identified item or a substitute for the item, and display price comparisons for the identified item or a substitute for the item from other vendors.

6. The method of implementing item-specific money transfers as in claim 5, receiving, from the sender or the receiver, a selection of the item or a substitute for the item from one of the other vendors.

7. The method of implementing item-specific money transfers as in claim 6, in response to the selection, adjusting the amount of the money transfer to the price of the item or a substitute for the item from the one of the other vendors.

8. The method of implementing item-specific money transfers as in claim 1, wherein the item or a substitute for the item comprises a charitable donation.

9. The method of implementing item-specific money transfers as in claim 8, further comprising in response to the item or a substitute for the item comprising a charitable donation, sending to the sender a tax statement related to the charitable donation.

10. The method of implementing item-specific money transfers as in claim 1, wherein the restricted use of the funds is restricted based in part on the Universal Product Code (UPC) associated with the item or a substitute for the item.

11. The method of implementing item-specific money transfers as in claim 10, wherein the funds from the money transfer are sent to a mobile wallet of the receiver.

12. The method of implementing item-specific money transfers as in claim 11, wherein the funds in the mobile wallet are restricted to purchase the item or a substitute for the item associated with the UPC.

13. A non-transitory computer-readable medium for implementing item-specific money transfers having sets of instructions which, when executed by a computer, cause the computer to:

receive a barcode of an item;

based on the barcode of the item, determine a vendor for the item and a price of the item;

receive from a receiver, a money transfer request for an amount of the price of the item, wherein the money transfer request identifies a sender;

send the money transfer request to the sender;

based on the barcode of the item, restrict the funds for the money transfer to only be used for payment to the vendor for the item;

based on the restricting of the funds, receive from the sender, an authorization for a money transfer in the amount of the price of the item, wherein the authorization includes an indication that funds from the money transfer are restricted for use only for the item.

14. The non-transitory computer-readable medium for implementing item-specific money transfers as in claim 13, wherein the item or a substitute for the item comprises a charitable donation.

15. The non-transitory computer-readable medium for implementing item-specific money transfers as in claim 14, wherein the sets of instruction when further executed by the computer, cause the computer to in response to the item or a substitute for the item comprising a charitable donation, send to the sender a tax statement related to the charitable donation.

16. The non-transitory computer-readable medium for implementing item-specific money transfers as in claim 13, wherein the restricted use of the funds is restricted based in part on the Universal Product Code (UPC) associated with the item or a substitute for the item.

17. A system for implementing item-specific money transfers, the system comprising:

a storage device having sets of instructions stored thereon; and

a computer processor in communication with the storage device, wherein the sets of instructions when executed by the computer processor, cause the computer processor to;

receive a photograph of the item;

based on the photograph of the item, determine a vendor for the item and a price of the item;

receive from a receiver, a money transfer request for an amount of the price of the item, wherein the money transfer request identifies a sender;

send the money transfer request to the sender;

based on the photograph of the item, restrict the funds for the money transfer to only be used for payment to the vendor for the item;

based on the restricting of the funds, receive from the sender, an authorization for a money transfer in the amount of the price of the item, wherein the authorization includes an indication that funds from the money transfer are restricted for use only for the item.

18. The system for implementing item-specific money transfers as in claim 17, wherein the interface comprises a kiosk.

19. The system for implementing item-specific money transfers as in claim 17, wherein the sets of instructions when further executed by the computer processor, cause the computer processor to:

send a photograph of the item or a substitute for the item to the money transfer computer processor;

determine that no match of the item or a substitute for the item is found; and

in response to no match of the item or a substitute for the item being found, identify one or more related items.

20. The system for implementing item-specific money transfers as in claim 17, wherein the sets of instructions when further executed by the computer processor, cause the computer processor to provide a price comparison interface to one or more of the following:

the sender, the receiver, or vendor.