System and method for performing money transfer transaction using TCP/IP

• US 6,502,747 B1
• Filed: 12/17/1999
• Issued: 01/07/2003
• Est. Priority Date: 10/26/1999
• Status: Expired due to Term

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Seifert, Dean A., Stoutenburg, Earney E.
• Primary Examiner(s): Lee, Michael G.
• Assistant Examiner(s): St. Cyr, Daniel
• Application Number:
  US09/466,013
• Time in Patent Office: 1,117 Days
• Field of Search: 235/379, 235/380, 235/382, 705/35, 705/42, 705/43, 705/44, 902/24, 902/39
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs

Abstract

A method of performing a money transfer transaction through a financial services institution includes receiving information regarding the transaction on a first computer of the financial services institution from a first electronic device using the Transmission Control Protocol/Internet Protocol suite (TCP/IP). The method may also include establishing a T1 connection between the first computer and the first electronic device. A system for performing a money transfer transaction using TCP/IP is also disclosed.

Claims

1. A method of performing a money transfer send transaction through a financial services institution, the method comprising:

receiving transaction information regarding the transaction on a first computer of the financial services institution from a first electronic device using TCP/IP, wherein the transaction information is provided by a sender and includes a desired amount of money to be sent by the sender to a recipient;

storing the transaction information on the first computer;

storing, on the first computer, a code for use by the sender during the send transaction, wherein the code corresponds to the transaction information stored on the first computer;

receiving, at the first computer, an entry corresponding to the code from a second electronic device;

validating the entry; and

transmitting a collect amount, to be collected from the sender, from the first computer to the second electronic device if the entry is valid, the collect amount being based on the desired amount of money to be sent;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

2. The method of claim 1 wherein the first electronic device is a computer.

3. The method of claim 1 wherein the first electronic device is a kiosk.

4. The method of claim 1 wherein the first electronic device is a terminal.

5. The method of claim 1 further comprising establishing a T1 connection between the first computer and the first electronic device.

6. The method of claim 1 further comprising establishing a T1 connection between the first computer and a first Internet service provider, wherein receiving transaction information comprises receiving the transaction information on the first computer from the first electronic device via the Internet.

7. The method of claim 1 further comprising transmitting additional information regarding the transaction from the first computer to the first electronic device using TCP/IP.

8. The method of claim 1 wherein the first and second electronic devices are the same.

9. The method of claim 1 wherein the code includes a number.

10. The method of claim 1 wherein the code includes a letter.

11. The method of claim 1 wherein the code includes a symbol.

12. The method of claim 1 wherein the code includes a voice print.

13. The method of claim 1 wherein the code includes an anatomical image.

14. The method of claim 1 wherein the code includes a fingerprint.

15. The method of claim 1 wherein the code includes a retinal image.

16. The method of claim 1 wherein the code includes a facial image.

17. The method of claim 1 further comprising receiving at the first computer an additional entry, corresponding to the desired amount of money, from the second electronic device, and validating the additional entry at the first computer prior to the step of transmitting a collect amount.

18. The method of claim 1 further comprising transmitting the code from the first computer to the first electronic device using TCP/IP prior to the step of receiving, at the first computer, an entry corresponding to the code, so that the code may be provided to the sender.

19. The method of claim 1 wherein the step of receiving, at the first computer, an entry corresponding to the code is performed using TCP/IP.

20. A method of performing a money transfer send transaction through a financial services institution, the method comprising:

receiving transaction details on a first computer of the financial services institution, wherein the transaction details are provided by a sender and include a desired amount of money to be sent by the sender to a recipient;

storing the transaction details on the first computer;

establishing a code that corresponds to the transaction details, wherein the code is established for use by the sender during the send transaction;

storing the code on the first computer such that the code is useable to identify the send transaction;

receiving the code at the first computer from an electronic transaction fulfillment device in communication with the first computer after the step of storing the code on the first computer;

validating the code received from the transaction fulfillment device by comparing the code received from the transaction fulfillment device with the code stored on the first computer; and

transmitting a collect amount, to be collected from the sender, from the first computer to the transaction fulfillment device if the code received from the transaction fulfillment device is valid;

wherein at least a portion of the method is performed using TCP/IP, and wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

21. The method of claim 20 further comprising transmitting the code from the first computer to an electronic transaction staging device using TCP/IP.

22. The method of claim 21 wherein the transaction staging device and the transaction fulfillment device are the same.

23. The method of claim 20 wherein establishing a code comprises establishing the code such that the code includes a number, and wherein the method further includes transmitting the code from the first computer to an electronic transaction staging device using TCP/IP prior to the step of receiving the code at the first computer from an electronic transaction fulfillment device.

24. The method of claim 20 wherein establishing a code comprises providing the code on an electronically readable card that is provided to the sender.

25. The method of claim 20 wherein establishing a code comprises printing the code, using an optical character recognition font, on paper that is provided to the sender.

26. The method of claim 20 wherein establishing a code comprises printing the code, using magnetic ink, on paper that is provided to the sender.

27. The method of claim 20 wherein establishing a code comprises establishing the code as a voice print.

28. The method of claim 20 wherein establishing a code comprises establishing the code as an anatomical image.

29. The method of claim 20 wherein establishing a code comprises providing the code to the sender through an employee of the financial services institution.

30. The method of claim 20 wherein establishing a code comprises establishing the code through an electronic transaction staging device.

31. The method of claim 20 wherein the step of receiving the code at the first computer is performed using TCP/IP.

32. The method of claim 31 wherein the transaction fulfillment device is connected to the first computer by a T1 connection that extends, at least partially, between the transaction fulfillment device and the first computer.