MONEY TRANSFER SYSTEM AND METHOD

• US 20140344089A1
• Filed: 03/17/2014
• Published: 11/20/2014
• Est. Priority Date: 05/18/2005
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Hanna, Assaad G., Hansen, Kurt L., Seifert, Dean A.
• Granted Patent: US 9,384,476 B2
• Time in Patent Office: Days
• US Class Current: 705/24
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/209 Specified transaction journal output feature, e.g. printed receipt or voice output
• CPC Class Codes: G06Q 20/3437 the counter having non-monetary units, e.g. trips
• CPC Class Codes: G07F 17/42 for ticket printing or like apparatus , e.g. apparatus for dispensing of printed paper tickets or payment cards
• CPC Class Codes: G07F 7/02 by keys or other credit registering devices
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/12 Card verification
• CPC Class Codes: G07G 5/00 Receipt-giving machines cash registers giving receipts G07G1/00

Abstract

A method for transferring money may include providing a money transfer instrument having product information and a monetary value associated therewith. The method may also include capturing the product information by a POS terminal in response to the sender purchasing the money transfer instrument. The method may further include generating and issuing a personal identifier to the sender on a receipt printed at the POS terminal. The method may additionally include receiving from the sender money transfer information along with the personal identifier. The method may moreover include generating and transmitting to the sender a money transfer control identifier that is separate from the personal identifier. The method may furthermore include receiving from the recipient the money transfer control identifier to receive transferred money at a money transfer location.

Claims

1. A method for transferring money, comprising:

providing, for purchase at a retail location, a money transfer instrument having product information and a monetary value associated therewith and used by a sender in transferring money to a recipient;

capturing the product information by a POS terminal at the retail location in response to the sender purchasing the money transfer instrument;

in response to and after capture of the product information, generating and issuing a personal identifier to the sender on a receipt printed at the POS terminal;

after the step of issuing and providing the personal identifier, receiving from the sender, by a money transfer host, money transfer information along with the personal identifier;

in response to the money transfer information and personal identifier being received from the sender by the money transfer host, generating and transmitting to the sender a money transfer control identifier that is separate from the personal identifier; and

receiving from the recipient, by the money transfer host, the money transfer control identifier, the money transfer control identifier having been provided to the recipient by the sender, the recipient using the money transfer control identifier to receive transferred money at a money transfer location.