In-lane money transfer systems and methods

• US 7,753,267 B2
• Filed: 05/22/2008
• Issued: 07/13/2010
• Est. Priority Date: 05/18/2005
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Hansen, Kurt, Sayor, Thomas
• Primary Examiner(s): Le; Thien M.
• Assistant Examiner(s): TAYLOR, APRIL ALICIA
• Application Number:
  US12/125,757
• Publication Number:
  US 20080222013A1
• Time in Patent Office: 782 Days
• Field of Search: 235379-381, 705/16, 705/30, 705/35, 705/39, 705 42- 44
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

The present invention provides systems and methods to initiate, facilitate, process and/or perform money transfers. One such method includes receiving a request for a transfer pair verification from a vendor location (360), and verifying that the transfer pair is associated with a valid transfer pair record (362). The method includes sending the transfer pair verification to the vendor location (368), receiving a money transfer request (370) associated with the transfer pair from the vendor location, and authorizing a money transfer (372) to at least one of a first and second customers associated with the transfer pair. In this manner, a vendor location, which may include a point-of-sale device and may be a retail outlet (e.g., grocery store, gas station, or the like), can be used to facilitate a money transfer between two customers.

Claims

1. A method of processing money transfers, the method comprising:

receiving, by a host computer system from a vendor location, a request for a transfer pair verification;

verifying, by the host computer system, the transfer pair is associated with a valid transfer pair record;

sending, by the host computer system, the transfer pair verification to the vendor location;

receiving, by the host computer system, a money transfer request associated with the transfer pair from the vendor location, wherein the money transfer request comprises a money transfer amount;

authorizing, by the host computer system, a money transfer to at least one of a first and second customers associated with the transfer pair;

sending, by the host computer system, a money transfer fee amount to be collected from at least the first customer, wherein the money transfer fee amount is based on a money transfer fee schedule; and

wherein the money transfer fee comprises a vendor fee and a host system fee.

2. The method as in claim 1 further comprising establishing the transfer pair record associated with the first customer and the second customer.

3. The method as in claim 2 wherein establishing the transfer pair record comprises:

verifying the identity of at least one of the first and second customers;

receiving first and second customer information and creating a database record thereof; and

providing a transfer pair code to at least one of the first and second customers.

4. The method as in claim 3 wherein the transfer pair code comprises a money transfer recipient designator.

5. The method as in claim 3 wherein the transfer pair code comprises a string of alphanumeric characters.

6. The method as in claim 1 wherein the vendor location comprises a retail outlet.

7. The method as in claim 1 wherein sending the transfer pair verification further comprises sending a fee request to the vendor location.

8. The method as in claim 1 further comprising receiving a payment record corresponding to the money transfer request.

9. The method as in claim 1 further comprising dispensing the money associated with the money transfer request to the first or second customer.

10. The method as in claim 9 further comprising receiving a transfer pair code associated with the transfer pair from the first or second customer prior to the dispensing of the money.

11. The method as in claim 1 wherein the money transfer amount comprises a fixed amount associated with the transfer pair.

12. The method as in claim 1 wherein the money transfer fee amount is based on a sliding scale of the money transfer amount.

13. The method as in claim 1 wherein the money transfer fee amount is a based on a percentage of the money transfer amount.

14. A method of facilitating money transfers by a customer at a vendor, the method comprising:

receiving, by a host computer system, a money transfer request from a first customer, wherein the money transfer request comprises a money transfer amount;

receiving, by the host computer system, a transfer pair code from the first customer;

sending, by the host computer system, a request for a transfer pair verification to a host computer;

receiving, by the host computer system, the transfer pair verification from the host computer;

receiving, by the host computer system, a payment from the first customer for transfer to a second customer associated with the transfer pair code, wherein the payment comprises a money transfer fee that is determined according to a money transfer fee schedule; and

sending, by the host computer system, a record of the money transfer request and the payment to the host computer.

15. The method as in claim 14 further comprising providing a receipt to the first customer.

16. The method as in claim 14 further comprising receiving a purchase request for a consumer item from the first customer, and wherein the payment comprises a first payment portion associated with the consumer item and a second payment portion associated with the money transfer request.

17. The method as in claim 16 wherein the payment further comprises a third payment portion associated with a money transfer fee.

18. The method as in claim 14 wherein the money transfer fee comprises a percentage of the money transfer amount.

19. The method as in claim 14 wherein the money transfer fee comprises a fee based on a sliding scale of the money transfer amount.

20. A system for processing money transfers, comprising:

a host computer comprising a processor coupled to a database and a memory;

wherein the memory is configured to store sets of instructions which, when executed by the processor, cause the processor to;

receive a request to verify a transfer pair from a point-of-sale device;

verify the transfer pair is associated with a valid transfer pair record;

send a transfer pair verification to the point-of-sale device;

receive a money transfer request associated with the transfer pair from the point-of-sale device, wherein the money transfer request comprises a money transfer amount;

authorize a money transfer to at least one of a first customer and a second customer associated with the transfer pair; and

send a money transfer fee amount to the point-of-sale device, wherein the money transfer fee amount is determined according to a money transfer fee schedule.

21. The system as in claim 20 wherein the host computer further comprises code for establishing the transfer pair record associated with the first customer and the second customer.

22. The system as in claim 20 wherein the host computer further comprises code for receiving first and second customer information and creating a database record thereof to include a transfer pair code.

23. The system as in claim 22 wherein the host computer further comprises code for providing the transfer pair code to at least one of the first and second customers.

24. The system as in claim 20 wherein the money transfer fee amount is based on a sliding scale of the money transfer amount.

25. The system as in claim 20 wherein the money transfer fee amount is a based on a percentage of the money transfer amount.

26. A system for processing money transfers, comprising:

a host computer comprising a processor coupled to a database;

a point-of-sale (POS) device integrated in a merchant computer network, wherein the POS device is coupled to the host computer and the POS device is configured to receive a request to verify a transfer pair and transmit the request to the host computer; and

wherein the host computer is configured to verify the transfer pair is associated with a valid transfer pair record and send a transfer pair verification to the POS device;

wherein the POS device is further configured to send a money transfer request associated with the transfer pair to the host computer, wherein the money transfer request comprises a money transfer amount; and

wherein the host computer is further configured to authorize a money transfer to at least one of a first customer and a second customer associated with the transfer pair.

27. The system as in claim 26, wherein the host computer is further configured to send a money transfer fee amount to the POS device, wherein the money transfer fee amount is determined according to a money transfer fee schedule.

28. The system as in claim 27, wherein the money transfer fee schedule comprises deducting the money transfer fee amount from the money transfer amount.

29. The system as in claim 27, wherein the money transfer fee schedule comprises adding the money transfer fee amount to the money transfer amount.

30. The system as in claim 27, wherein the money transfer fee schedule comprises determining the money transfer fee amount based on a percentage of the money transfer amount.

31. The system as in claim 27, wherein the money transfer fee is paid by either the host computer operator or the merchant.

32. The system as in claim 26, wherein at least one of the first and second customers associated with the transfer pair is a pre-authorized customer.

33. The system as in claim 32, wherein transactions occur between pre-authorized customers by collecting less information than customers that are not pre-authorized.

34. The system as in claim 26, wherein the POS device is further configured to present a list of transfer pairs based on a history for a customer and to allow the customer to select from the list of transfer pairs to establish a new money transfer.

35. A method of processing money transfers, the method comprising:

receiving, by a host computer system, from a sender, a request for a transfer pair verification, wherein the request includes a request to establish a recurring money transfer associated with the transfer pair, wherein the request to establish a recurring money transfer includes a recurrence schedule;

verifying, by the host computer system, the transfer pair is associated with a valid transfer pair record;

establishing, by the host computer system, a recurring money transfer for the transfer pair based on the recurrence schedule;

sending, by the host computer system, the transfer pair verification to the vendor location; and

authorizing, by the host computer system, money transfers to a recipient associated with the transfer pair based on the recurrence schedule.

36. The method as in claim 35, wherein the recurrence schedule comprises one or more of the following:

a monthly transfer schedule, a bi-monthly transfer schedule, and a weekly transfer schedule.

37. The method as in claim 35, further comprising verifying the identify of at least one of the sender and the recipient.

38. The method as in claim 35, further comprising in response to verifying the transfer pair, sending the sender a notification indicating that the transfer pair has been verified.

39. The method as in claim 35, further comprising in response to authorizing at least one of the money transfers, sending the recipient a notification indicating that the money transfer has been authorized.