Financial transaction authentication servers, methods, and computer program products for facilitating financial transactions between buyers and sellers

• US 8,401,906 B2
• Filed: 12/12/2007
• Issued: 03/19/2013
• Est. Priority Date: 12/12/2007
• Status: Expired due to Fees

• Current Assignee: At&T Delaware Intellectual Property, Inc. (AT&T, Inc.), Iron Bird LLC (Jeffrey M. Gross)
• Original Assignee: AT&T Intellectual Property I LP (AT&T, Inc.)
• Inventors: Ruckart, John
• Primary Examiner(s): Monfeldt, Sarah M.
• Assistant Examiner(s): AMELUNXEN, BARBARA J
• Application Number:
  US11/954,928
• Publication Number:
  US 20090157547A1
• Time in Patent Office: 1,924 Days
• Field of Search: 455/406, 455/414.1, 455/456, 705/26, 705/39, 705/1, 705/14, 705/17, 705/27, 705/37, 705/44, 705/10, 705/18, 705/26.2, 705/418, 235/381, 235/380
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• 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 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A financial transaction authentication server includes a wireless network interface that is configured to receive fund transfer requests from a buyer via a wireless communications terminal, a wireless terminal location module that is configured to identify the respective locations of the buyer and a seller, and a transaction authorization processor configured to authorize a transfer request if the geographic locations of wireless terminals of the buyer and seller are within a predetermined geographical proximity of each other. The wireless network terminal location module identifies the geographic locations of respective wireless terminals of the buyer and seller. The transaction authorization processor authorizes a fund transfer request if the respective locations of buyer and seller wireless terminals are within a predetermined geographical proximity and suspends a fund transfer request if respective locations of buyer and seller wireless terminals are not within a predetermined geographical proximity of each other.

Claims

1. A method, for facilitating a financial transaction between a buyer and a seller, comprising:

receiving, by a financial transaction authentication server, from the buyer via a buyer wireless communications terminal, a money transfer request identifying a financial account of the buyer, a financial account of the seller, and an amount to be transferred from the financial account of the buyer to the financial account of the seller;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a buyer location being a location of the buyer wireless communications terminal obtained from a global positioning system associated with the buyer wireless communications terminal;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a seller location being a location of a seller wireless communications terminal obtained from a global positioning system associated with the seller wireless communications terminal;

calculating, by the financial transaction authentication server, for use subsequently in connection with the financial transaction between the buyer and the seller, a geographical proximity threshold value, wherein;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on an ambient wireless interference condition;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the buyer wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the seller wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a particular time of day at which the money transfer request from the buyer is being received;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a history of use of the buyer and seller wireless communications terminals;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the buyer is a merchant; and

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the seller is a merchant;

determining, in a proximity-analysis operation, whether the buyer location is within the geographical proximity threshold value of the seller location; and

authorizing, by the financial transaction authentication server, in response to a positive result of the proximity-analysis operation, the money transfer request.

2. The method of claim 1, wherein the wireless communications terminals are cell phones.

3. The method of claim 1, further comprising sending, by the financial transaction authentication server, in response to a negative result of the proximity-analysis operation, an alert to the buyer.

4. The method of claim 1, comprising suspending, in response to a negative result of the proximity-analysis operation, the money transfer request.

5. The method of claim 1, wherein:

the money transfer request further includes an indication of a first financial institution which manages the financial account of the buyer and an indication of a second financial institution which manages the financial account of the seller; and

authorizing the money transfer request comprises sending, using the indication of the first financial institution and the indication of the second financial instruction indicated by the money transfer request, instructions to the first financial institution to transfer payment from the financial account of the buyer to the financial account of the seller at the second financial institution.

6. The method of claim 1, wherein:

the money transfer request further indicates a financial institution which manages both the financial account of the buyer and the financial account of the seller; and

authorizing the money transfer request comprises sending instructions to the financial institution to transfer payment from the financial account of the buyer to the financial account of the seller.

7. A financial transaction authentication server comprising:

a processor; and

a computer-readable storage device being in communication with the processor and comprising computer-executable instructions that, when executed by the processor, cause the processor to perform operations, for facilitating a financial transaction between a buyer and a seller, comprising;

receiving, from the buyer via a buyer wireless communications terminal, a money transfer request identifying a financial account of the buyer, a financial account of the seller, and an amount to be transferred from the financial account of the buyer to the financial account of the seller;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a buyer location being a location of the buyer wireless communications terminal obtained from a global positioning system associated with the buyer wireless communications terminal;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a seller location being a location of a seller wireless communications terminal obtained from a global positioning system associated with the seller wireless communications terminal;

calculating, by the financial transaction authentication server, for use subsequently in connection with the financial transaction between the buyer and the seller, a geographical proximity threshold value, wherein;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on an ambient wireless interference condition;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the buyer wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the seller wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a particular time of day at which the money transfer request from the buyer is being received;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a history of use of the buyer and seller wireless communications terminals;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the buyer is a merchant; and

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the seller is a merchant;

determining, in a proximity analysis, whether the buyer location is within the geographical proximity threshold value of the seller location; and

authorizing, by the financial transaction authentication server, in response to a positive result of the proximity-analysis operation, the money transfer request.

8. The financial transaction authentication server of claim 7, wherein the wireless communications terminals are cell phones.

9. The financial transaction authentication server of claim 7, wherein the operations further comprise sending, by the financial transaction authentication server, in response to a negative result of the proximity analysis, an alert to the buyer.

10. The financial transaction authentication server of claim 7, wherein the operations further comprise suspending, in response to a negative result of the proximity analysis, the money transfer request if the locations of the buyer and seller wireless communications terminals are not within the predetermined geographical proximity of each other.

11. The financial transaction authentication server of claim 7, wherein:

the money transfer request further indicates a first financial institution that manages the financial account of the buyer and a second financial institution that manages the financial account of the seller; and

the operation of authorizing the money transfer request comprises sending, based on the first financial institution and second financial instruction indicated by the money transfer request, instructions to the first financial institution to transfer payment from the financial account of the buyer to the financial account of the seller at the second financial institution.

12. The financial transaction authentication server of claim 7, wherein the money transfer request further indicates a financial institution that manages both the financial account of the buyer and the financial account of the seller.

13. The financial transaction authentication server of claim 12, wherein the operation of authorizing the money transfer request comprises sending instructions to the financial institution to transfer payment from the financial account of the buyer to the financial account of the seller.

14. A computer-readable storage device, for use at a financial transaction authentication server, and comprising computer-executable instructions that, when executed by a processor of the financial transaction authentication server, cause the processor of the financial transaction authentication server to perform operations, for facilitating a financial transaction between a buyer and a seller, comprising:

receiving, from the buyer via a buyer wireless communications terminal, a money transfer request identifying a financial account of the buyer, a financial account of the seller, and an amount to be transferred from the financial account of the buyer to the financial account of the seller;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a buyer location being a location of the buyer wireless communications terminal obtained from a global positioning system associated with the buyer wireless communications terminal;

determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a seller location being a location of a seller wireless communications terminal obtained from a global positioning system associated with the seller wireless communications terminal;

calculating, by the financial transaction authentication server, for use subsequently in connection with the financial transaction between the buyer and the seller, a geographical proximity threshold value, wherein;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on an ambient wireless interference condition;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the buyer wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a type of the seller wireless communications terminal;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a particular time of day at which the money transfer request from the buyer is being received;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on a history of use of the buyer and seller wireless communications terminals;

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the buyer is a merchant; and

calculating the geographical proximity threshold value comprises generating the geographical proximity threshold value based on whether the seller is a merchant;

determining, in a proximity-analysis operation, whether the buyer location is within the geographical proximity threshold value of the seller location; and

authorizing, by the financial transaction authentication server, in response to a positive result of the proximity-analysis operation, the money transfer request.

15. The computer-readable storage device of claim 14, wherein the wireless communications terminals are cell phones.

16. The computer-readable storage device of claim 14, wherein the operations further comprise sending, in response to a negative result of the proximity-analysis operation, an alert to the buyer.

17. The computer-readable storage device of claim 14, wherein the operations further comprise suspending, in response to a negative result of the proximity-analysis operation, the money transfer request if the locations of the buyer and seller wireless communications terminals are not within the predetermined geographical proximity of each other.

18. The computer-readable storage device of claim 14, wherein:

the money transfer request further indicates a first financial institution that manages the financial account of the buyer and a second financial institution that manages the financial account of the seller; and

the operation of authorizing the money transfer request comprises sending, based on the first financial institution and second financial instruction indicated by the money transfer request, instructions to the first financial institution to transfer payment from the financial account of the buyer to the financial account of the seller at the second financial institution.

19. The computer-readable storage device of claim 14, wherein the money transfer request further indicates a financial institution that manages both the financial account of the buyer and the financial account of the seller.

20. The computer-readable storage device of claim 19, wherein the operation of authorizing the money transfer request comprises sending instructions to the financial institution to transfer payment from the financial account of the buyer to the financial account of the seller.