Method and apparatus for transferring money via a telephone call

• US 6,206,283 B1
• Filed: 12/23/1998
• Issued: 03/27/2001
• Est. Priority Date: 12/23/1998
• Status: Expired due to Term

• Current Assignee: AT&T Corporation (AT&T, Inc.)
• Original Assignee: AT&T Corporation (AT&T, Inc.)
• Inventors: Ramage, John Gerow, Stern, Benjamin J., Bansal, Pradeep K., Begeja, Lee, Durkee, Edward Chapman, Farah, Jeffrey Joseph, Kapadia, Rajesh
• Primary Examiner(s): Le, Thien M.
• Assistant Examiner(s): St. Cyr, Daniel
• Application Number:
  US09/219,373
• Time in Patent Office: 825 Days
• Field of Search: 235/379, 235/380, 235/382, 455/558, 455/407, 455/575, 705/35, 705/41, 705/42, 705/43, 705/44
• US Class Current: 235/379
• CPC Class Codes: A61F 2/07 Stent-grafts
• CPC Class Codes: A61F 2250/0067 Means for introducing or releasing pharmaceutical products into the body
• CPC Class Codes: A61L 2300/606 Coatings
• CPC Class Codes: A61L 29/085 Macromolecular materials
• CPC Class Codes: A61L 29/16 Biologically active materials, e.g. therapeutic substances A61L29/048 takes precedence
• CPC Class Codes: A61L 31/10 Macromolecular materials
• CPC Class Codes: A61L 31/16 Biologically active materials, e.g. therapeutic substances A61L31/047 takes precedence
• CPC Class Codes: A61M 2025/105 having a balloon suitable for drug delivery, e.g. by using holes for delivery, drug coating or membranes
• CPC Class Codes: A61M 2025/1088 having special surface characteristics depending on material properties or added substances, e.g. for reducing friction
• CPC Class Codes: A61M 25/1027 Making of balloon catheters
• CPC Class Codes: A61M 25/104 used for angioplasty
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/26 Debit schemes, e.g. "pay now"
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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

Abstract

An individual transfers money from a cash card (or the account that the cash card is tied to) by making a wireless phone call to another individual. A combination of a MONDEX style card with the individual phone cards are used for this purpose. This electronic cash (“ecash”) ecash/phone card is inserted into the phone to activate it for billing use and serves as the basis for a cash transaction. For example, person A makes a telephone call to person B and dials a suffix after the number to indicate the transaction and the amount. For example, one could transfer money to another card or account holder from one'"'"'s card by dialing their number followed by CASH#200# to transfer 200 dollars to the other account. The card is then capable of being used as a cash card to make purchases or as a phone card to make calls. A database links the identity of the caller to the cash account and the transaction appears as part of a bank statement or as part of a wireless phone bill. A user could use his wireless phone to dial an account number and transfer money by entering the amount via DTMF or by speaking the amount to an ASR application connected to the database. A user could also use the phone to make purchases via the card by just dialing a number and having an anonymous purchase made of the item. Since the user would be identified by the wireless network, the user would not have to enter any additional information about identification or credit card. The number that the user dialed could then debit the user'"'"'s card directly and the item could be delivered without any need for the user to enter more information.

Claims

1. A method for transferring money electronically, comprising the steps of:

a) providing a telephone card having stored thereon an amount of money;

b) making a telephone call to a predetermined telephone number using the telephone card as a payment device for the telephone call;

c) dialing a predetermined suffix to the predetermined telephone number followed by a desired dollar amount;

d) debiting the telephone card by the desired dollar amount; and

e) crediting an account associated with the predetermined telephone number by the desired dollar amount.

2. The method according to claim 1, further comprising the step of activating a telephone by inserting the telephone card into the telephone.

3. The method according to claim 2, wherein the telephone comprises a wireless telephone.

4. The method according to claim 2, wherein the telephone comprises a wireline telephone.

5. The method according to claim 1, wherein the telephone card comprises a MONDEX style card combined with an individual telephone card.

6. The method according to claim 1, wherein the predetermined suffix includes Dual Tone Multi-Frequency keys 2274, and the desired dollar amount is enclosed in delimiters.

7. The method according to claim 6, wherein at least one of the delimiters includes one selected from the group consisting of the following symbols:

* and #.

8. The method according to claim 1, wherein the predetermined suffix includes Dual Tone Multi-Frequency keys 4358, and the desired dollar amount is enclosed in delimiters.

9. The method according to claim 1, wherein the predetermined suffix includes Dual Tone Multi-Frequency tones resulting from pressing keys on the telephone keypad representing an alpha sequence “

CASH.”

10. The method according to claim 1, wherein the predetermined suffix includes Dual Tone Multi-Frequency tones resulting from pressing keys on the telephone keypad representing an alpha sequence equivalent in any language to the word “

cash.”

11. A method for transferring money electronically, comprising the steps of:

a) making a telephone call to a predetermined telephone number using a credit card associated with a user'"'"'s account as a payment device for the telephone call;

b) entering a predetermined suffix after the predetermined telephone number followed by a desired amount;

c) debiting the user'"'"'s account by the desired amount; and

d) crediting an account associated with the predetermined telephone number by the desired dollar amount.

12. The method according to claim 11, further comprising the step of entering a predetermined suffix after the desired amount to indicate that the amount listed is to be converted from one currency to another, which suffix includes an identification of a currency in which the desired amount is to be converted.

13. The apparatus according to claim 11, further comprising the step of detecting a dialed country code and using the dialed country code to determine a currency into which the desired amount is to be converted.

14. The apparatus according to claim 13, further comprising the step of determining a country in which the telephone call originates and using that country as a currency in which the desired amount is denominated.

15. The method according to claim 11, further comprising the step of converting the money to be transferred from a first currency to a second currency and debiting the user'"'"'s account by the desired dollar amount in a first currency and crediting an account associated with the dialed telephone number by an amount in the second currency equivalent to the desired amount in the first currency.

16. A method for transferring money electronically, comprising the steps of:

a) making a telephone call to a predetermined telephone number using an electronic cash card as a payment device for the telephone call, which electronic cash card has stored thereon a certain amount of money;

b) entering a predetermined suffix after the predetermined telephone number followed by a desired dollar amount;

c) deducting the desired dollar amount from the electronic cash card; and

d) crediting an account associated with the predetermined telephone number by the desired dollar amount.

17. A method for transferring money electronically, comprising the steps of:

a) inserting a first electronic cash card into a first telephone, wherein the first electronic cash card has stored thereon a certain amount of money;

b) inserting a second electronic cash card into a second telephone;

c) making a telephone call to the second telephone using the electronic cash card as a payment device for the telephone call;

d) dialing a predetermined suffix to a telephone number of the second telephone followed by a desired dollar amount; and

e) transferring the desired dollar amount from the first electronic cash card to the second electronic cash card.

18. The method according to claim 17, further comprising the step of linking an identity of a caller to a cash account, and placing a resulting transaction on a statement to the cash account.

19. The method according to claim 17, further comprising the step of linking an identity of a caller to a user'"'"'s account, and placing a resulting transaction on the user'"'"'s telephone bill but not the identity of the other party.

20. The method according to claim 17, further comprising the step of speaking the amount into an Automatic Speech Recognition application coupled to a database linking the identity of the caller to a cash account.

21. An apparatus for transferring money electronically between two parties comprising:

a) a first user card storing an amount of money;

b) a second user card including a rewritable media;

c) a first telephone including a card reader reading the amount of money on the user card upon insertion of the user card into the card reader, wherein a first user enters a predetermined sequence of dial tones to indicate a cash transaction is to take place followed by a particular sequence of dial tones indicating a particular amount of money to transfer; and

d) a second telephone including a second card reader writing the particular amount of money to the second user card upon insertion of the second user card into the second card reader and upon receiving the predetermined sequence of dial tones and the particular sequence of dial tones.

22. The apparatus according to claim 21, further comprising a communications network being coupled to the telephone and transferring the predetermined and particular sequences of dial tones pressed by a first user operating the first telephone to the second telephone thus controlling the second telephone and the second card reader.

23. The apparatus according to claim 22, farther comprising a billing system being coupled to the communications network and billing an account of the first user and crediting an account of the second user.

24. The apparatus according to claim 21, wherein the first telephone comprises a wireless telephone.

25. The apparatus according to claim 21, wherein the first user card comprises a MONDEX style card combined with an individual telephone card.

26. The apparatus according to claim 21, wherein the predetermined sequence includes Dual Tone Multi-Frequency keys 2274, and the particular sequence includes at least one delimiter.

27. The apparatus according to claim 21, wherein the predetermined sequence includes Dual Tone Multi-Frequency keys 4358, and the particular sequence includes at least one delimiter.

28. The apparatus according to claim 21, wherein the at least one delimiter includes one selected from the group consisting of the following symbols:

* and #.

29. The apparatus according to claim 21, wherein the predetermined sequence includes Dual Tone Multi-Frequency tones resulting from pressing keys on the first telephone representing an alpha sequence “

CASH.”

30. The apparatus according to claim 21, wherein the predetermined sequence includes Dual Tone Multi-Frequency tones resulting from pressing keys on the first telephone representing an alpha sequence equivalent in any language to the word “

cash.”

31. The apparatus according to claim 21, further comprising an automated speech recognition system recognizing a voice of the first user and authorizing the transaction.

32. A device for transferring money electronically between two parties comprising:

a) first means for storing a first amount of money;

b) second means for storing a second amount of money, said second means being readable and rewritable;

c) means for reading the first amount of money stored in the first means;

d) user controllable means for sending a control signal indicating a cash transfer is to occur and indicating a particular amount to be transferred from the first storing means to the second storing means using a particular sequence of tones associated with the second storing means, said user controllable sending means being coupled to the reading means;

e) means for writing a particular amount of money to the second storing means upon receiving the control signal from the user controllable sending means; and

f) communication means being coupled to the reading means, the user controllable sending means and the writing means, and the communication transferring the control signal to the writing means.