Wide area network person-to-person payment

• US 7,937,292 B2
• Filed: 09/30/2008
• Issued: 05/03/2011
• Est. Priority Date: 07/11/2000
• Status: Expired due to Term

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Karas, Peter M., Sherrard, Jeff D., Neofytides, Cheryl L., Cowell, James E., Milberger, Susan M., Macfarlane, Jackie M., Golub, Matthew F., Dunker, Amy M., Abrahams, Susan F., Yoder, James R., Platte, Eric L., Baig, Aamer Ali
• Primary Examiner(s): Zurita; James
• Application Number:
  US12/241,408
• Publication Number:
  US 20090094155A1
• Time in Patent Office: 945 Days
• Field of Search: 705/26, 705/37, 705/26.1, 705/27.1
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• 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 20/40 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 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

According to the invention, transferring money using a computer network is disclosed. In one step, information is saved on credit received for a first user (110) in a stored value account on a server computer system (170). At the server computer system (170), a request from the first user (110) to send money to a second user (130) based on the stored value account is received. An electronic notification is sent from the server computer (170) to the second user (130) to notify the second user (130) of the request. A debit in the stored value account of the first user (110) is created. The requested money is sent to the second user (130) upon a receipt of a request at the server computer (170) from the second user (130).

Claims

1. A method for transferring money using a computer network, the method comprising:

maintaining a database of counter parties accessible by either the first user or the second user;

saving information on a first credit received for a first user in a stored value account of the first user on a server computer system;

receiving at the server computer system a first request from the first user to send money to a second user based on the stored value account of the first user, wherein the second user is identified to the server computer system by the first user with an e-mail address for the second user;

sending an electronic notification from the server computer to the e-mail address of the second user to notify the second user of the request;

creating a debit in the stored value account of the first user; and

sending the requested money to the second user upon a receipt of a second request at the server computer from the second user.

2. The method for transferring money using the computer network as recited in claim 1, wherein the second-listed sending step comprises a step of saving information on a second credit in a stored value account of the second user on the server computer with a value corresponding to the requested money.

3. The method for transferring money using the computer network as recited in claim 1, wherein the second-listed sending step comprises at least one of the following steps:

sending money to a bank account of the second user;

sending a second credit to a credit card or debit card of the second user; and

sending a check or money order to the second user.

4. The method for transferring money using the computer network as recited in claim 1, wherein the second-listed sending step comprises at least one of the following steps:

sending a telegram or greeting card with a check or money order to the second user.

5. The method for transferring money using the computer network as recited in claim 1, wherein the second-listed sending step comprises at least one of the following steps:

sending an electronic greeting card to the second user with an electronic payment notification embedded therewith.

6. The method for transferring money using the computer network as recited in claim 1, wherein the first request comprises the e-mail address of the second user, and wherein the method further comprises:

maintaining a database of email addresses corresponding to individuals having accounts that provide the individuals with functionality offered by the server computer system for online management of financial transactions;

sending, if the e-mail address of the second user is not found in the database, the second user an email to notify the second user that the second user can receive a second credit by registering for a stored value account of the second user; and

saving, if the e-mail address of the second user is found in the database, information on the second credit in the stored value account of the second user.

7. The method for transferring money using the computer network as recited in claim 1, wherein the method further comprises:

storing additional information associated with the first request, the additional information including transaction type information and status information;

providing an account history display including information corresponding to money transfers between the first user and a plurality of second parties, the account history display comprising, for each money transfer request, one or more of the following information items;

a name;

a reference number associated with the payment enabler system;

an email address;

an amount;

a date;

a transaction description; and

the additional information.

8. The method for transferring money using the computer network as recited in claim 1, wherein a second stored value account is associated with the second user, and wherein the method further comprises:

receiving, with a first transfer intermediary interface, the first credit; and

transmitting, with a second transfer intermediary interface, a second credit from the second stored value account.

9. The method for transferring money using the computer network as recited in claim 1, wherein the method further comprises:

selection, by the first user, of at least one of the counter parties as the second user.

10. The method for transferring money using the computer network as recited in claim 1, wherein the method further comprises:

selection, by the second user, of at least one of the counter parties as the first user.

11. The method for transferring money using the computer network as recited in claim 1, wherein the database of counter parties accessible by either the first user or the second user comprises previous first users or second users.

12. The method for transferring money using the computer network as recited in claim 1, wherein sending the requested money to the second user occurs prior to receipt of the first credit.

13. The method for transferring money using the computer network as recited in claim 1, wherein a third party to the server computer system assumes a risk associated with the first credit not being received and applied to the stored value account of the first user.

14. The method for transferring money using the computer network as recited in claim 1, wherein the first credit is received from a first intermediary, and wherein sending the requested money to the second user comprises:

transferring funds from the stored value account of the first user to a stored value account of the second user;

sending the requested money from the stored value account of the second user to the second user via a second intermediary.