Method of converting virtual cash to cash and deducting from a mobile phone cash account

• US 7,699,218 B2
• Filed: 02/11/2008
• Issued: 04/20/2010
• Est. Priority Date: 08/22/2005
• Status: Expired due to Fees

• Current Assignee: G-Xchange, Inc. (Asiacom Philippines, Inc.), Lightfleet Corporation, Utiba Pte Limited
• Original Assignee: G-Xchange, Inc. (Asiacom Philippines, Inc.), Utiba Pte Limited
• Inventors: Matotek, Richard, Mendoza, Glenn, Buizon-Tiambeng, Shydee, Teodoro, Fernando P., Quito, Melenita, Avendano, Joanne, Reyes, Jessica A., Macatangay, Raul, Domingo, Louie, Jimenez, Sheila, Ho, Justin, Reyes, Kaytee, Pongol, Marlowe, Quinton, Verna, Reyes, Grace, Bustamante, Alain, Cayetano, Mickey, Barnham, Andrew, Dimanno, Jewel, Villanueva, Jenny, Camacho, Justine, Garcia, Rodell
• Primary Examiner(s): Frech; Karl D.
• Application Number:
  US12/069,462
• Publication Number:
  US 20090026257A1
• Time in Patent Office: 799 Days
• Field of Search: 234/379, 234/375, 902/2, 902/3, 902/4, 902/5, 902/10
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems

Abstract

The method of converting cash into virtual cash and loaded into a mobile phone cash account using telco'"'"'s cash product services comprising the steps of: —customer going to outlet to convert cash into virtual cash using telco'"'"'s product services; —customer filling up forms, showing identification; —frontliner of outlet verifying customer'"'"'s identification; —frontliner accessing the device and keying command containing—customer'"'"'s information, reference number of registration form, —customer'"'"'s or 3^rd party-recipient'"'"'s mobile phone number and amount of cash to be converted to virtual cash and sends this to telco; —frontliner collecting cash to be converted to virtual cash and the service fee and issues receipt to the customer; —customer receiving SMs acknowledgment from telco that the cash has been converted to virtual cash and loaded in the recipient'"'"'s mobile phone cash account; —frontliner'"'"'s device receiving a message from telco (with format matching the device) of acknowledgement with confirmation number.

Claims

1. The method of receiving cash from an outlet through a mobile phone, the method comprising:

requesting cash-out at an outlet by a customer;

showing identification and filling out a form by the customer;

a frontliner, accessing a device, keying in a command including the customer'"'"'s amount of cash-out, and sending the command to a telco;

by the telco, verifying that the customer'"'"'s mobile phone is registered with the telco'"'"'s cash product service, and that the amount of cash-out is available in the customer'"'"'s mobile phone cash account, and sending information to the device of the frontliner of the outlet;

by the frontliner of the outlet, verifying that the customer is registered with the telco'"'"'s cash product service, and advising the customer of a unique transaction code;

by the customer, paying for a cash-out fee;

by the customer, keying in “

CASHOUT”

cash product command containing a PIN, the amount of cash-out, and the customer'"'"'s mobile phone number;

sending the CASHOUT cash product command to the telco;

by the outlet'"'"'s device, receiving a confirmatory message from the telco of a cash product service transfer;

by the customer, receiving a SMS acknowledgment from the telco of completion of the cash product service;

by the customer, getting the amount of cash-out from the outlet;

by the outlet'"'"'s device, receiving an acknowledgment of completion of a transaction and a confirmation number from the telco in a format matching the outlet'"'"'s device.