Apparatus and method for facilitating money or value transfer

• US 7,540,408 B2
• Filed: 06/22/2006
• Issued: 06/02/2009
• Est. Priority Date: 06/22/2006
• Status: Active Grant

• Current Assignee: HIP Consult Incorporated
• Original Assignee: HIP Consult Incorporated
• Inventors: Ba, Ibrahima, Levine, Judah Joseph
• Primary Examiner(s): Paik, Steven S
• Assistant Examiner(s): TAYLOR, APRIL ALICIA
• Application Number:
  US11/425,839
• Publication Number:
  US 20070295803A1
• Time in Patent Office: 1,076 Days
• Field of Search: 235/379, 235/380, 705/17, 705/39, 705/41
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

An apparatus and method for transferring money or value, using a wide range of interfaces to initiate a transfer and a wide range of options for receiving the transfer, including receiving the transferred sum directly to the communication device/account of the receiver. The receiver can use the transferred sum as an airtime credit, to obtain cash or to pay for other goods or services.

Claims

1. An apparatus for money or value transfer from at least one sender to at least one receiver using at least one service partner, the apparatus comprising at least one computing platform, executing the components of:

at least one protocol translator for translating at least one current request relating to the money or value transfer by the at least one sender to an internal communication protocol;

at least one gateway to the at least one service partner, for adapting the internal communication protocol to at least one communication protocol used by the at least one service partner;

at least one customer relationship and acquisition engine for responding to the at least one current request from the at least one sender or at least one receiver, and for suggesting to the at least one sender at least one customized service or at least one customized product based on at least one past request for registration, transaction, billing or historical transactions performed by the sender wherein the at least one customized service or the at least one customized product is separate from the at least one current request;

at least one rule engine for storing, validating, and applying at least one rule or at least one procedure to at least one transaction type, wherein the at least one rule or the at least one procedure relates to a country of the sender or a country of the received, said at least one rule engine running on said computing platform; and

at least one service partner engine for performing at least one activity related to the at least one service partner.

2. The apparatus of claim 1 wherein the at least one service partner is a communication operator.

3. The apparatus of claim 1 wherein the at least one service partner is a bank or a financial institution.

4. The apparatus of claim 1 wherein the at least one service partner is a distributor or a dealer or a retail outlet.

5. The apparatus of claim 1 further comprising a storage component for storing information related to a method, a transaction or a user of the apparatus.

6. The apparatus of claim 1 further comprising at least one product engine for advertising and delivery of at least one offering.

7. The apparatus of claim 6 wherein the offering relates to at least one item selected from the group consisting of:

a money transfer;

an airtime vending service;

a payment service; and

a value transfer related service.

8. The apparatus of claim 1 wherein the at least one current request is initiated through at least one of the following channels or device interfaces:

physically visiting a communication operator shop, bank, distributor, dealer or retail outlet;

calling a communication operator, bank, distributor, dealer or retail store;

equipment used by a bank, a distributor, a dealer or a retail store;

mobile phone or handheld device;

fixed line phone;

VOIP phone;

fixed wireless access device;

desktop or other terminals.

9. The apparatus of claim 8 wherein the channels or device interfaces are enabled through at least one access technology selected from the group consisting of:

copper, fiber, radio, cable, satellite, Wi-Fi, WiMAX, UWB, Bluetooth, IrDA, and NFC.

10. The apparatus of claim 1 wherein the at least one current request is initiated through at least one of the following communication media or technology protocols or interfaces:

Web browser, e-mail, instant messaging, SIM browser, desktop application interface, terminal application interface, IVR/Speech, voice, HTTP, HTTPS, SSL, USSD, SMS, WAP, DTMF, IP, or PSTN.

11. The apparatus of claim 1 wherein the at least one receiver receives the transfer in a way belonging to the group consisting of:

cash;

communication usage time, at least one good;

at least one service;

a deposit to a bank account;

a deposit to a stored value account;

a check; and

a deposit to a credit or debit card account.

12. The apparatus of claim 1 wherein the at least one service partner participates in performing the money or value transfer.

13. A method for money or value transfer from at least one sender to at least one receiver, the method comprising the steps of:

a. selecting a transaction channel, device or interface;

b. ascertaining that the money or value transfer is in accordance with at least one rule or at least one procedure or an at least one regulation associated with a country of the at least one sender or with a country of the at least one receiver;

c. if the money or value transfer is not in accordance with the at least one rule or at least one procedure or at least one regulation, cancelling the money or value transfer, otherwise continuing with the money or value transfer;

d. creating at least one unit of value;

e. transmitting the unit of value to at least one service partner;

f. distributing the unit of value to the receiver;

g. settling financial commitments between one or more involved institutions; and

h. analyzing at least one current request for registration, transaction, billing, or transaction history of the sender for predicting the behavior of the at least one sender or suggesting at least one customized offer or service to the at least one sender wherein the at least one customized offer or service is separate from the at least one current request.

14. The method of claim 13 wherein the transaction channel or device is selected from the group consisting of:

a dealer;

a retail outlet;

a distributor;

a bank;

a mobile phone;

a handheld device;

a fixed line phone;

a VOIP phone;

a fixed wireless access device;

a desktop; and

other terminals.

15. The method of claim 13 wherein the money or value transfer is initiated through a communication media or technology protocols or interfaces selected from the group consisting of:

Web browser;

e-mail;

instant messaging;

SIM browser;

desktop application interface;

terminal application interface;

IVR/Speech;

Voice (mobile, fixed, VoIP);

HTTP;

HTTPS;

SSL;

USSD;

SMS;

WAP;

DTMF;

IP; and

PSTN.

16. The method of claim 13 wherein the unit of value comprises payment created in a way selected from the group consisting of:

cash payment when physically visiting a branch, credit or debit card, money withdrawal from a stored value account with a bank, with a communication operator or with a service partner, money withdrawal from a dedicated account, and communication usage time.

17. The method of claim 13 wherein the unit of value is distributed to the at least one receiver in a way selected from the group consisting of:

cash, bank account deposit, value stored account deposit, credit or debit card deposit, communication usage time, at least one good; and

at least one service.

18. The method of claim 13 further comprising a bidding step for receiving at least one offer from at least one communication operator or service partner to perform a transaction, and selecting at least one of said offers.

19. The method of claim 18 wherein the bidding step comprises receiving an at least one offer that meets a minimal requirement set by the at least one sender.

20. The method of claim 13 further comprising a currency conversion step for suggesting to the at least one sender an exchange rate.

21. The method of claim 13 further comprising a tracking step for tracking the at least one unit of value being transferred.

22. The method of claim 13 wherein at least one of steps a, d, e, f or g is performed using at least one of the channels, devices or interfaces from the group consisting of:

a mobile telephone;

a handheld device;

a fixed telephone;

a voice over IP telephone;

fixed wireless access devices;

desktop or other terminals;

physically visiting communication operator shop, bank, distributor, dealer or retail store;

calling communication operator shop, bank, distributor, dealer or retail store;

a bank;

a distributor;

a dealer; and

a retail store.

23. The method of claim 13 wherein at least one of steps a, d, e, f or g is performed using at least one communication media or technology protocols or interfaces selected from the group consisting of:

web browser;

e-mail;

instant messaging;

SIM browser;

desktop application interface;

terminal application interface;

IVR, speech;

voice in mobile phone, voice in a fixed phone or voice over IP, HTTP;

HTTPS;

SSL;

USSD;

SMS;

WAP;

DTMF;

IP; and

PSTN.

24. The method of claim 23 wherein the communication media or technology protocols or interfaces are enabled through at least one access technology selected from the group consisting of:

copper, fiber, radio, cable, satellite, Wi-Fi, WiMAX, UWB, Bluetooth, IrDA, and NFC.

25. The method of claim 13 further comprising a learning step for analyzing the at least one current request.

26. The method of claim 25 wherein the learning step predicts user behavior, suggests repeat transfers, or suggests transfers when an exchange rate drops.

27. The method of claim 13 further comprising a step of sending a notification if the money or value transfer is not in accordance with the at least one rule or at least one procedure or at least one regulation.

28. The method of claim 27 wherein the notification is sent to the sender or to the receiver.

29. The method of claim 13 further comprising a step of matching currency buyers and sellers, for offering users attractive exchange rates.

30. The method of claim 13 further comprising a step of suggest to the at least one sender to perform a transfers when an exchange rate drops.

31. The method of claim 13 wherein the at least one sender and the at least one receiver settle a commitment against an operator of the method.

32. A computer readable storage medium containing a set of instructions for a general purpose computer, the set of instructions comprising:

selecting a transaction channel, device or interface;

ascertaining that a money or value transfer from a sender to a receiver is in accordance with at least one rule or at least one procedure or at least one regulation associated with a country of the sender or with a country of the receiver;

if the money or value transfer is not in accordance with the at least one rule or at least one procedure or at least one regulation, cancelling the money or value transfer, otherwise continuing with the money or value transfer;

creating at least one unit of value;

transmitting the unit of value to at least one service partner;

distributing the unit of value to a receiver;

settling financial commitments between one or more involved institutions; and

analyzing at least one current request for registration, transaction, billing, or transaction history of the sender for predicting behavior of the at least one sender or suggesting at least one customized offer or service to the at least one sender, wherein the at least one customized offer or service is separate from the at least one current request.

33. A method for money or value transfer from at least one sender in at least one first market or region to at least one receiver in at least one second market or region using at least one service partner, the method comprising the steps of:

a. the sender selecting a transaction channel, device or interface;

b. ascertaining that the money or value transfer is in accordance with at least one rule or at least one procedure or at least one regulation associated with a country of the at least one sender or with a country of the at least one receiver;

c. if the money or value transfer is not in accordance with the at least one rule or at least one procedure or at least one regulation, cancelling the money or value transfer, otherwise continuing with the money or value transfer;

d. creating at least one unit of value according to the money or value to be transferred;

e. transmitting the unit of value to at least one service partner;

f. distributing the money or value to the receiver, according to the unit of value;

g. settling financial commitments between one or more involved institutions; and

h. learning from transaction history data for analyzing at least one current request for registration, transaction, billing, or transaction history of the sender for predicting the behavior of the at least one sender or suggesting at least one customized offer or service to the at least one sender, wherein the at least one customized offer or service is not suggested as a response to the at least one current request.

34. The method of claim 33 further comprising a currency conversion step for suggesting to the at least one sender an exchange rate.

35. The method of claim 33 further comprising a step of suggesting to the at least one sender at least one qualified offer based on a minimal requirement set by the at least one sender.

36. The method of claim 33 further comprising a step of matching currency buyers and sellers, for offering users attractive exchange rates.

37. The method of claim 33 further comprising a step of suggest to the at least one sender to perform a transfers when an exchange rate drops.

38. The method of claim 33 wherein the at least one sender and the at least one receiver settle a commitment against an operator of the method.

39. An apparatus for supporting money or value transfers from at least one sender to at least one receiver using a plurality of different service partners, the apparatus comprising at least one computer executing the components of:

a plurality of protocol translators, each one of said protocol translators adapted for connecting to at least one corresponding service partner to translate a communication protocol used by said at least one corresponding service partner to an internal communication protocol such that each one of said plurality of protocol translators is adapted for translating a different communication protocol to said internal communication protocol;

a gateway connected to each one of said plurality of protocol translators, said gateway using said internal communication protocol, wherein

each one of said plurality of protocol translators is adapted for receiving money transfer requests from senders to send money to receivers, said requests via the corresponding at least one service partner, such that the different communication protocols of the money transfer requests are translated by said protocol translators into said internal communication protocol and forwarded to said gateway;

a customer relationship and acquisition engine connected to said gateway and for responding to the current requests received from the senders;

at least one rule engine for storing, validating, and applying at least one rule or at least one procedure to the money transfer request, wherein the at least one rule or the at least one procedure relates to a country of the sender or a country of the receiver, said at least one rule engine running on said computing platform; and

a plurality of service partner engines, each one of said plurality service partner engines corresponding to a corresponding at least one of said plurality of service partners and specifically adapted for performing at least one activity related to the corresponding at least one service partner, such that each of said service partner engines is adapted differently from another one of said service partner engines.

40. The apparatus of claim 39, wherein said at least one customer relationship and acquisition engine is also adapted for suggesting to each one of the senders at least one customized service or at least one customized product based on at least one past request for registration, transaction, billing or historical transactions performed by the each one sender wherein the at least one customized service or the at least one customized product is separate from the money transfer request of the at least one sender.