Method and apparatus for money transfer

• US 7,461,776 B2
• Filed: 07/16/2007
• Issued: 12/09/2008
• Est. Priority Date: 02/28/2005
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Steiger, Billy Joe Jr.
• Primary Examiner(s): Lee; Seung H
• Application Number:
  US11/778,429
• Publication Number:
  US 20080015989A1
• Time in Patent Office: 512 Days
• Field of Search: 235/379, 235/382, 235/376, 705/39, 902/5, 902/24, 902/39
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• 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 20/367 involving electronic purses or money safes
• 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 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/018 Certifying business or products

Abstract

A method of performing a money transfer send transaction comprises receiving information at a call center from a sender for a send transaction, including a proposed send amount, and responsive to the information from the sender received at the call center, building a staging record for the send transaction. The staging record includes compliance data responsive to the proposed send amount and to compliance rules. A data center receives information from an agent provided by the sender to the agent, with the information including a retrieval key to identify the staging record, a requested send amount and agent location information. Responsive to the requested send amount and the agent location information, the data center identifies in the compliance rules at least one applicable compliance window and tests the requested send transaction and compliance data in the staging record for consistency with the at least one applicable compliance window. Responsive to an affirmative test for consistency, the data center prompts the agent to collect from the sender payment of the requested send amount and any transaction fee and, responsive to the agent'"'"'s confirmation of receipt of payment, prepares a send transaction record. Finally, the data center provides the agent a send transaction identifier for communication to the sender.

Claims

1. A method of performing a money transfer send transaction comprising:

receiving information at a staging terminal from a sender for a send transaction, including a proposed send amount;

responsive to the information from the sender received at the staging terminal, building a staging record for the send transaction, said staging record including compliance data responsive to the proposed send amount and to compliance rules;

receiving information from an agent provided by the sender to the agent, said information including a retrieval key to identify the staging record, a requested send amount and agent location information;

responsive to the requested send amount and the agent location information, identifying in the compliance rules at least one applicable compliance window;

testing the requested send transaction and compliance data in the staging record for consistency with the at least one applicable compliance window;

responsive to an affirmative test for consistency, prompting the agent to collect from the sender payment of the requested send amount and any transaction fee;

responsive to the agent'"'"'s confirmation of receipt of payment, preparing a send transaction record; and

providing to the agent a send transaction identifier for communication to the sender.

2. The method of claim 1 wherein the compliance data is data that varies according to the amount of the send transaction and the compliance rules.

3. The method of claim 1 wherein the compliance data is data elicited from the sender based on the proposed send amount.

4. The method of claim 1 wherein the compliance data includes a compliance level code derived from data elicited from the sender based on the proposed send amount.

5. The method of claim 1 wherein the compliance data includes a maximum send amount derived from data elicited from the sender based on the proposed send amount.

6. The method of claim 1 further comprising providing the agent instructions on identification procedures for the sender required by the compliance data, said identification procedures selected from those associated with two or more compliance windows based on the amount of the send transaction.

7. The method of claim 1 further comprising marking the send transaction record with a record retention indicator.

8. The method of claim 1 further comprising marking the staging record with an expiration date permitting its re-use until that date.

9. The method of claim 8 wherein the expiration date is empirically derived.

10. The method of claim 1 wherein the compliance data in the staging record and the compliance rules define a compliance level for at least one jurisdiction covering a range of send amounts.

11. The method of claim 1 wherein the step of testing the send amount for consistency is performed at a terminal of the agent, responsive to receipt at the terminal of a compliance window definition.

12. The method of claim 1 wherein the step of testing the send amount for consistency is performed in part at a terminal of the agent, responsive to an agent profile stored at the terminal.

13. The method of claim 1 wherein the step of testing the requested send amount for consistency is performed at a central computer to which the agent sends the requested send amount.

14. The method claim 1 wherein the compliance rules cover two or more jurisdictions and the compliance rules of each jurisdiction have two or more compliance windows for send transactions.

15. The method of claim 1, further comprising prompting the agent to examine sender credentials relative to the compliance data and to communicate the result of examining the sender credentials relative to the compliance data.

16. A system for performing a money transfer send transaction comprising:

a processor configured to communicate with a staging terminal and at least one agent;

a program component for receiving information at a the staging terminal from a sender for a send transaction, including a proposed send amount;

a program component responsive to the information from the sender received at the staging terminal, for building a staging record for the send transaction, said staging record including compliance data responsive to the proposed send amount and to compliance rules;

a program component for receiving information from an agent provided by the sender to the agent, said information including a retrieval key to identify a staging record, a requested send amount and agent location information;

a program component responsive to the requested send amount and the agent location information, for identifying in the compliance rules at least one applicable compliance window;

a program component for testing the requested send transaction for consistency with the at least one applicable compliance window;

a program component responsive to an affirmative test for consistency for prompting the agent to collect from the sender payment of the requested send amount and any transaction fee;

a program component responsive to the agent'"'"'s confirmation of receipt of payment for preparing a send transaction record; and

a program component for providing to the agent a send transaction identifier for communication to the sender.

17. The system of claim 16 wherein the compliance data is data that varies according to the amount of the send transaction and the compliance rules.

18. The system of claim 16 wherein the compliance data is data elicited from the sender based on the proposed send amount.

19. The system of claim 16 wherein the compliance data includes a compliance level code derived from data elicited from the sender based on the proposed send amount.

20. The system of claim 16 wherein the compliance data includes a maximum send amount derived from data elicited from the sender based on the proposed send amount.

21. The system of claim 16 further comprising providing the agent instructions on identification procedures for the sender required by the compliance data, said identification procedures selected from those associated with two or more compliance windows based on the amount of the send transaction.

22. The system of claim 16 further comprising marking the send transaction record with a record retention indicator.

23. The system of claim 16 further comprising marking the staging record with an expiration date permitting its re-use until that date.

24. The system of claim 23 wherein the expiration date is empirically derived.

25. The system of claim 16 wherein the compliance data in the staging record and the compliance rules define a compliance level for at least one jurisdiction covering a range of send amounts.

26. The system of claim 16 wherein the step of testing the send amount for consistency is performed at a terminal of the agent, responsive to receipt at the terminal of a compliance window definition.

27. The system of claim 16 wherein the step of testing the send amount for consistency is performed in part at a terminal of the agent, responsive to an agent profile stored at the terminal.

28. The system of claim 16 wherein the step of testing the requested send amount for consistency is performed at a central computer to which the agent sends the requested send amount.

29. The system claim 16 wherein the compliance rules cover two or more jurisdictions and the compliance rules of each jurisdiction have two or more compliance windows for send transactions.

30. The system of claim 16, further comprising prompting the agent to examine sender credentials relative to the compliance data and to communicate the result of examining the sender credentials relative to the compliance data.

31. A computer program stored in a machine readable medium for performing a money transfer send transaction comprising:

a program component for receiving information at a staging terminal from a sender for a send transaction, including a proposed send amount;

a program component responsive to the information from the sender received at the staging terminal, for building a staging record for the send transaction, said staging record including compliance data responsive to the proposed send amount and to compliance rules;

a program component for receiving information from an agent provided by the sender to the agent, said information including a retrieval key to identify a staging record, a requested send amount and agent location information;

a program component responsive to the requested send amount and the agent location information, for identifying in the compliance rules at least one applicable compliance window;

a program component for testing the requested send transaction for consistency with the at least one applicable compliance window;

a program component responsive to an affirmative test for consistency for prompting the agent to collect from the sender payment of the requested send amount and any transaction fee;

a program component responsive to the agent'"'"'s confirmation of receipt of payment for preparing a send transaction record; and

a program component for providing to the agent a send transaction identifier for communication to the sender.