Authentication for online money transfers
First Claim
1. A non-transitory computer readable storage medium comprising computer readable instructions for processing a transaction where the transaction is initiated by a payor online but paid to a payee in-person, said computer readable instructions comprising instructions that when executed by a processor of a computer cause the processor to perform the method of:
- accepting, by a computer system, payor information at a location, wherein the payor is located across a wide area network from the location;
accepting, by the computer system, transaction information at the location, wherein the transaction information includes an amount and a payee identifier;
accepting, by the computer system, payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler;
evaluating, by the computer system, a risk score related to a likelihood that the transaction will complete successfully;
referring, by the computer system, funding to be completed by the payor at a retail location linked with a payment enabler, if the risk score is below a first risk score threshold, wherein the payor is required to physically attend the retail location;
referring, by the computer system, funding to be completed by the payor via telephonic interaction with the payment enabler if the risk score is between the first risk score threshold and a second risk score threshold, wherein;
the payor is presented, via the wide area network, with a telephone number of the payment enabler;
permitting, by the computer system, online funding of the transaction if the risk score is above the second risk score threshold;
billing, by the computer system, the money handler for at least the amount;
determining, by the computer system, if the money handler settles the amount; and
storing, by the computer system, historical information on the transaction.
3 Assignments
0 Petitions
Accused Products
Abstract
According to the invention, a method for processing a transaction where the transaction is initiated by a payor online, but paid to a payee in-person, is disclosed. In one step, payor information is accepted at a location that located across a wide area network from the payor. Transaction information and payment source information is also accepted at the location. The transaction information includes an amount and a payee identifier and the payment source information includes account details associated with an account of the payor at a money handler. A risk related to a likelihood that the transaction will complete successfully is evaluated. Validating that the payment source information is associated with the payor is manually performed if the risk is excessive. The risk can generally be reduced by the manual validation. The money handler is billed for at least the amount. It is determined if the money handler settles the amount. Historical information on the transaction is stored.
259 Citations
30 Claims
-
1. A non-transitory computer readable storage medium comprising computer readable instructions for processing a transaction where the transaction is initiated by a payor online but paid to a payee in-person, said computer readable instructions comprising instructions that when executed by a processor of a computer cause the processor to perform the method of:
-
accepting, by a computer system, payor information at a location, wherein the payor is located across a wide area network from the location; accepting, by the computer system, transaction information at the location, wherein the transaction information includes an amount and a payee identifier; accepting, by the computer system, payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler; evaluating, by the computer system, a risk score related to a likelihood that the transaction will complete successfully; referring, by the computer system, funding to be completed by the payor at a retail location linked with a payment enabler, if the risk score is below a first risk score threshold, wherein the payor is required to physically attend the retail location; referring, by the computer system, funding to be completed by the payor via telephonic interaction with the payment enabler if the risk score is between the first risk score threshold and a second risk score threshold, wherein;
the payor is presented, via the wide area network, with a telephone number of the payment enabler;permitting, by the computer system, online funding of the transaction if the risk score is above the second risk score threshold; billing, by the computer system, the money handler for at least the amount; determining, by the computer system, if the money handler settles the amount; and storing, by the computer system, historical information on the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
-
-
17. A non-transitory computer readable storage medium comprising computer readable instructions for processing a transaction where the transaction is initiated by a payor online but paid to a payee in-person, said computer readable instructions comprising instructions that when executed by a processor of a computer cause the processor to perform the method of:
-
accepting, by a computer system, payor information at a location, wherein the payor is located across a wide area network from the location; accepting, by the computer system, transaction information at the location, wherein the transaction information includes an amount and a payee identifier; accepting, by the computer system, payment source information at the location, wherein the payment source information includes account details associated with an account of the payor at a money handler; verifying, by the computer system, at least some of the payment source information; evaluating, by the computer system, a risk score related to a likelihood that the transaction will complete successfully, referring, by the computer system, funding to be completed by the payor at a retail location linked with a payment enabler, if the risk score is below a first risk score threshold, wherein, wherein the payor is required to physically attend the retail location; referring, by the computer system, funding to be completed by the payor via telephonic interaction with the payment enabler if the risk score is between the first risk score threshold and a second risk score threshold, wherein;
the payor is presented, via the wide area network, with a telephone number of the payment enabler;permitting, by the computer system, remote funding of the transaction if the risk score is above the second risk score threshold; and billing, by the computer system, the money handler for at least the amount. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
-
-
25. A non-transitory computer readable storage medium comprising computer readable instructions for processing a transaction that transfers money or its equivalents from a payor to a payee, said computer readable instructions comprising instructions that when executed by a processor of a computer cause the processor to perform the method of:
-
accepting, by a computer system, payor information from the payor, wherein the payor is located across a wide area network; accepting, by the computer system, transaction information, wherein the transaction information includes an amount and a payee identifier; and accepting, by the computer system, payment source information, wherein the payment source information includes account details associated with an account of the payor at a money handler; verifying, by the computer system, at least some of the payment source information; evaluating, by tile computer system, a risk score related to a likelihood that the transaction will complete successfully; checking, by the computer system, a transaction velocity linked with the payor against a first velocity threshold and a second velocity threshold, wherein the first velocity threshold is less than the second velocity threshold; referring, by the computer system, funding to be completed by the payor at a retail location linked with a payment enabler, if; the risk score is below a first risk score threshold;
the transaction velocity is above the second velocity threshold;
or both, wherein;
the payor is required to physically attend the retail location;referring, by the computer system, funding to be completed by the payor via telephonic interaction with the payment enabler if; the risk score is between the first risk score threshold and a second risk score threshold; the transaction velocity is between the first velocity threshold and the second velocity threshold;
orboth, wherein;
the payor is presented, via the wide area network, with a telephone number to contact the representative;permitting, by the computer system, online funding of the transaction if the risk score is above the second risk score threshold and the transaction velocity is below the first velocity threshold; billing, by the computer system, the money handler for at least the amount; and transferring, by the computer system, the money to the payee. - View Dependent Claims (26, 27, 28, 29, 30)
-
Specification