Methods and systems for creating monetary accounts for members in a social network

• US 8,621,215 B1
• Filed: 06/30/2004
• Issued: 12/31/2013
• Est. Priority Date: 06/30/2004
• Status: Active Grant

• Current Assignee: Google LLC (Alphabet Inc.)
• Original Assignee: Google Inc. (Alphabet Inc.)
• Inventors: Iyer, Sitaram
• Primary Examiner(s): Hailu, Teshome
• Application Number:
  US10/880,707
• Time in Patent Office: 3,471 Days
• Field of Search: 713/169
• US Class Current: 713/169
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

Embodiments of the present invention comprise systems and methods of creating monetary accounts for members in a social network. One aspect of one embodiment of the present invention comprises receiving transaction data associated with at least one member of a social network, associating a first member of the social network with a trust factor, associating a second member of the social network with another trust factor, and determining whether to create an account between the first member and second member, based at least in part on the trust factor of the first member and the trust factor of the second member. Another aspect of one embodiment of the present invention comprises receiving transaction data from a plurality of members of a social network, wherein each member has an associated trust factor, and resolving the transaction data based at least in part on the trust factors associated with the plurality of members.

Claims

1. A computer-implemented method executed by at least one computer system comprising one or more processors, the method comprising:

(a) receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) establishing a social relationship between the first profile and the second profile based on the bidirectional communication and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) receiving, at the social network, transaction data associated with the first member and the second member, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network;

(d) associating, using the one or more processors, the first member of the social network with a first trust factor that describes a trustworthiness of the first member in the social network and is based on instructions received from the other members of the social network that specify whether the first member is a trusted member of the social network and a degree of separation between the first member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between the first member and the other members;

(e) associating, using the one or more processors, the second member of the social network with a second trust factor that describes a trustworthiness of the second member and is based on the instructions received from the other members of the social network that specify whether the second member is a trusted member of the social network; and

(f) the one or more processors determining whether to create the monetary account between the first member and the second member to complete a financial transaction associated with the transaction data based on the first trust factor, the second trust factor and by determining that the first member and the second member share a common characteristic, an activity and a community.

2. The method of claim 1, wherein the transaction data comprises at least one of the following:

a payment entry, an owing entry, an amount paid by one user on behalf of at least one other user and an amount paid by a group on behalf of at least one other group.

3. The method of claim 1, wherein the instructions received from the other members of the social network that specify whether the first member or the second member is a trusted member of the social network comprise one of the following:

a trust rating associated with the first member or the second member received from the other members, a history of transactions between the first member or the second member and the other members, a number of transactions between the first member or the second member and the other members, a quality of transactions between the first member or the second member and the other members and an instruction from another member specifying whether the another member will or will not transact with the first member or the second member.

4. The method of claim 1, wherein (f) determining whether to create the monetary account between the first member and the second member based on the first trust factor and the second trust factor, comprises at least one of the following:

comparing either the first trust factor or the second trust factor to a preset value, and determining that either member has transacted with the other member at a prior time.

5. The method of claim 1, further comprising:

(g) receiving a payment entry from the first member; and

(h) determining an amount owed by the second member.

6. The method of claim 5, further comprising:

(i) storing the payment entry and the amount owed in the monetary account.

7. The method of claim 1, further comprising:

(g) outputting information associated with the monetary account to either the first member or the second member.

8. The method of claim 7, wherein (g) outputting information associated with the monetary account to either the first member or the second member, comprises displaying an amount owed to either the first member or the second member.

9. The method of claim 7, wherein (g) outputting information associated with the monetary account to either the first member or the second member, comprises notifying both members of an amount owed to either the first member or the second member.

10. The method of claim 1, wherein the trust factor associated with the first member or the second member is further based on one of the following:

a number of other accounts associated with the first member or the second member, an age of other accounts associated with the first member or the second member, an accessibility of the first member or the second member via e-mail or other communications, a location of the first member or the second member, and a type of association between the first member or the second member and the other members.

11. The method of claim 10, wherein (f) determining whether to create the monetary account between the first member and second member, based on the first trust factor and the second trust factor, comprises at least one of the following:

determining that the social relationship between the first member and the second member is a friendship association and determining that the social relationship between the first member and the second member is within a preset degree of separation.

12. The method of claim 1, wherein the first trust factor associated with the first member is further based on the strength of the social relationship between the first member and the other members.

13. The method of claim 1, further comprising closing the monetary account based on determining that at least one of the first member and the second member is inaccessible.

14. The method of claim 1, wherein (f) determining whether to create the monetary account between the first member and the second member based on the first trust factor and the second trust factor, comprises comparing either the first trust factor or the second trust factor to a threshold.

15. The method of claim 1, wherein the particular type of association is a common geography association.

16. The method of claim 1, wherein the instructions received from the other members of the social network include a trust rating associated with a predefined category.

17. A computer-implemented method executed by at least one computer system comprising one or more processors, the method comprising:

(a) receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) establishing a social relationship between the first profile and the second profile and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) receiving, at the social network, transaction data associated with the first member and the second member, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network, wherein the first member and the second member each have an associated trust factor that describes a trustworthiness of each member in the social network and is based, in part, on instructions received from the other members of the social network that specify whether the first member and the second member are trusted members of the social network and a degree of separation between each member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between each member and the other members; and

(d) the one or more processors resolving the transaction data based on the trust factors associated with the first member and the second member and by determining that the first member and the second member share a common characteristic, an activity and a community.

18. The method of claim 17, wherein the instructions received from the other members of the social network that specify whether the first member and the second member are trusted members of the social network comprise one of the following:

a trust rating received from the other members, a history of transactions between either the first member or the second member and the other members, a number of transactions between either the first member or the second member and the other members, a quality of transactions between either the first member or the second member with the other members and an instruction from a user regarding who the user will or will not transact with.

19. The method of claim 17, wherein (d) resolving the transaction data based on the trust factors associated with the first member and the second member comprises at least one of the following:

comparing one of the trust factors to a preset value, comparing one of the trust factors to a threshold and determining that one member has transacted with another member at a prior time.

20. The method of claim 17, wherein the transaction data is associated with at least one of the following:

a monetary amount, a foreign monetary amount, a currency type, a foreign currency type, an exchange rate, a unit amount, a unit type, an instruction associated with splitting an amount, a date, a time, a member name and a community name.

21. The method of claim 17, wherein (d) resolving the transaction data based at least in part on the trust factors associated with the first member and the second member, comprises creating a monetary account between the first member and the second member.

22. The method of claim 17, wherein the monetary account includes at least one of the following:

a payment entry from at least one member, and an amount owed to another member.

23. The method of claim 17, wherein (d) resolving the transaction data based at least in part on the trust factors associated with the first member and the second member, comprises determining whether a proxy payment can be made by the first member for an amount owed by the second member to a third member.

24. The method of claim 23, further comprising:

(e) receiving a selection from the first member to make the proxy payment to the third member of the social network.

25. The method of claim 23, further comprising:

(e) sending a notification to at least one of the other members regarding the first member making the proxy payment.

26. The method of claim 17, further comprising:

(e) receiving a selection from at least one of the first member and the second member to make a payment to another member of the social network.

27. The method of claim 17, further comprising:

(e) sending a notification to one of the other members regarding making a payment to another member of the social network.

28. The method of claim 17, wherein the trust factor associated with each member is further based on one of the following:

a number of other accounts associated with each member, an age of other accounts associated with each member, an accessibility of each member via e-mail or other communications and a location of each member.

29. The method of claim 28, wherein (d) resolving the transaction data based on the trust factors associated with the first member and the second member comprises at least one of the following:

determining that the social relationship between the first member and the second member is a friendship association and determining that the social relationship between the first member and the second member is within a preset degree of separation.

30. The method of claim 17, wherein the particular type of association is a common geography association.

43. The non-transitory computer-readable medium of claim 21, wherein the particular type of association is a common geography association.

31. A non-transitory computer-readable storage medium containing executable program code, comprising:

(a) program code for receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) program code for establishing a social relationship between the first profile and the second profile and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) program code for receiving, at the social network, transaction data associated with the first member and the second member of the social network, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network;

(d) program code for associating the first member of the social network with a first trust factor that describes a trustworthiness of the first member in the social network and is based on instructions received from the other members of the social network that specify whether the first member is a trusted member of the social network and a degree of separation between the first member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between the first member and the other members;

(e) program code for associating the second member of the social network with a second trust factor that describes a trustworthiness of the second member and is based on the instructions received from the other members of the social network that specify whether the second member is a trusted member of the social network; and

(f) program code for determining whether to create the monetary account between the first member and the second member to complete a financial transaction associated with the transaction data based on the first trust factor, the second trust factor and determining that the first member and the second member share a common characteristic, an activity and a community.

32. The non-transitory computer-readable medium of claim 31, wherein the transaction data comprises at least one of the following:

a payment entry, an owing entry, an amount paid by one user on behalf of at least one other user and an amount paid by a group on behalf of at least one other group.

33. The non-transitory computer-readable medium of claim 31, wherein the instructions received from the other members of the social network that specify whether the first member or the second member is a trusted member of the social network comprise one of the following:

a trust rating received from the other members, a history of transactions between the first member or the second member and the other members, a number of transactions between the first member or the second member and the other members, a quality of transactions between the first member or the second member and the other members and an instruction from a user regarding who the user will or will not transact with.

34. The non-transitory computer-readable medium of claim 31, wherein (f) program code for determining whether to create the monetary account between the first member and second member, based on the first trust factor and the second trust factor, comprises program code for at least one of the following:

comparing either the first or the second trust factor to a preset value, comparing either the first or the second trust factor to a threshold, comparing the trust factors to a preset value, comparing the trust factors to a threshold, and determining that either member has transacted with the other member at a prior time, a user-provided list of conditions.

35. The non-transitory computer-readable medium of claim 31, further comprising:

(g) program code for receiving a payment entry from the first member; and

(h) program code for determining an amount owed by the second member.

36. The non-transitory computer-readable medium of claim 35, further comprising:

(i) program code for storing the payment entry and the amount owed in the monetary account.

37. The non-transitory computer-readable medium of claim 31, further comprising:

(g) program code for outputting information associated with the monetary account to either the first member or the second member.

38. The non-transitory computer-readable medium of claim 37, wherein (g) program code for outputting information associated with the monetary account to either the first member or the second member, comprises displaying an amount owed to either the first member or the second member.

39. The non-transitory computer-readable medium of claim 37, wherein (g) program code for outputting information associated with the monetary account to either the first member or the second member, comprises notifying both members of an amount owed to either the first member or the second member.

40. The medium of claim 31, wherein the trust factor associated with the first member or the second member is further based on one of the following:

a number of other accounts associated with the first member or the second member, an age of other accounts associated with the first member or the second member, an accessibility of the first member or the second member via e-mail or other communications and a location of the first member or the second member.

41. The medium of claim 40, wherein program code for (f) determining whether to create the monetary account between the first member and second member, based on the first trust factor and the second trust factor, comprises program code for at least one of the following:

determining that the social relationship between the first member and the second member is a friendship association and determining that the social relationship between the first member and the second member is within a preset degree of separation.

42. The non-transitory computer-readable medium of claim 31, wherein the particular type of association is a common geography association.

44. The non-transitory computer-readable medium of claim 31, wherein the instructions received from the other members of the social network include a trust rating associated with a predefined category.

45. A non-transitory computer-readable storage medium containing executable program code, comprising:

(a) program code for receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) program code for establishing a social relationship between the first profile and the second profile and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) program code for receiving, at the social network, transaction data associated with the first member and the second member, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network, wherein the first member and the second member each have an associated trust factor that relates to a trustworthiness of each member and is based on instructions received from the other members of the social network that specify whether the first member and the second member are trusted members of the social network and a degree of separation between each member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between each member and the other members; and

(d) program code for resolving the transaction data based on the trust factors associated with the first member and the second member and by determining that the first member and the second member share a common characteristic, an activity and a community.

46. The non-transitory computer-readable medium of claim 45, wherein the instructions received from the other members of the social network that specify whether the first member and the second member are trusted members of the social network comprise one of the following:

a trust rating received from the other members, a history of transactions between either the first member or the second member and the other members, a number of transactions between either the first member or the second member and the other members, a quality of transactions between either the first member or the second member and the other members and an instruction from a user regarding who the user will or will not transact with.

47. The non-transitory computer-readable medium of claim 45, wherein program code for resolving the transaction data based at least in part on the trust factors associated with the first member and the second member comprises program code for at least one of the following:

comparing one of the trust factors to a preset value, comparing one of the trust factors to a threshold and determining that one member has transacted with another member at a prior time, a user-provided list of conditions.

48. The non-transitory computer-readable medium of claim 45, wherein the transaction data is associated with at least one of the following:

a monetary amount, a foreign monetary amount, a currency type, a foreign currency type, an exchange rate, a unit amount, a unit type, an instruction associated with splitting an amount, a date, a time, a member name and a community name.

49. The non-transitory computer-readable medium of claim 45, wherein (d) program code for resolving the transaction data based on the trust factors associated with the first member and the second member, comprises creating a monetary account for the first member and the second member.

50. The non-transitory computer-readable medium of claim 49, wherein the monetary account includes at least one of the following:

a payment entry from at least one member and an amount owed to another member.

51. The non-transitory computer-readable medium of claim 45, wherein (d) program code for resolving the transaction data based at least in part on the trust factors associated with the first member and the second member, comprises determining whether a proxy payment can be made by the first member for an amount owed by the second member to a third member.

52. The non-transitory computer-readable medium of claim 51, further comprising:

(e) program code for receiving a selection from the first member to make the proxy payment to the third member of the social network.

53. The non-transitory computer-readable medium of claim 51, further comprising:

(e) program code for sending a notification to at least one of the other members regarding the first member making the proxy payment.

54. The non-transitory computer-readable medium of claim 45, further comprising:

(e) program code for receiving a selection from at least one of the first member and the second member to make a payment to another member of the social network.

55. The non-transitory computer-readable medium of claim 45, further comprising:

(e) program code for sending a notification to one of the other members regarding making a payment to another member of the social network.

56. The medium of claim 45, wherein the trust factor associated with each member is further based on one of the following:

a number of other accounts associated with each member, an age of other accounts associated with each member, an accessibility of each member via e-mail or other communications, a location of each member, a type of association and a strength of the social relationship between each member and the other members.

57. The medium of claim 56, wherein program code for (d) resolving the transaction data based on the trust factors associated with the first member and the second member comprises program code for at least one of the following:

determining that the social relationship between the first member and the second member is a friendship association and determining that the social relationship between the first member and the second member is within a preset degree of separation.

58. A computer-implemented method executed by at least one computer system comprising one or more processors, the method comprising:

(a) receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) establishing a social relationship between the first profile and the second profile and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) receiving, at the social network, transaction data associated with the first member and the second member, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network;

(d) associating, using the one or more processors, the first member of the social network with a first trust factor that describes a trustworthiness of the first member in the social network and is based on a degree of separation between the first member and other members of the social network and instructions received from the other members of the social network that specify whether the first member is a trusted member of the social network and a degree of separation between each member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between each member and the other members;

(e) associating, with the one or more processors, the second member of the social network with a second trust factor that describes a trustworthiness of the second member and is based on the instructions received from the other members of the social network that specify whether the second member is a trusted member of the social network;

(f) the one or more processors determining whether to create the monetary account between the first member and the second member to complete a financial transaction associated with the transaction data based on the first trust factor, the second trust factor_and by determining that the first member and the second member share a common characteristic, an activity and a community;

(g) receiving a payment entry from the first member;

(h) determining, with the one or more processors, an amount owed to the second member by the first member; and

(i) storing the payment entry and the amount owed to the second member in the monetary account.

59. The method of claim 58, wherein the particular type of association is a common geography association.

60. A computer-implemented method executed by at least one computer system comprising one or more processors, the method comprising:

(a) receiving bidirectional communication between a first member associated with a first profile and a second member associated with a second profile in a social network;

(b) establishing a social relationship between the first profile and the second profile and storing the social relationship as an association in the social network, the association including a type and a level of the social relationship;

(c) receiving, at the social network, transaction data associated with the first member and the second member, the transaction data indicative of a request to create a monetary account between the first member and the second member that is independent of the social network, wherein the first member and the second member each have an associated trust factor that describes a trustworthiness of each member in the social network and is based on instructions received from the other members of the social network that specify whether the first member or the second member is a trusted member of the social network and a degree of separation between each member and the other members of the social network that provided the instructions, the degree of separation reflecting a strength of relationship between each member and the other members;

(d) resolving, using the one or more processors, the transaction data based on the trust factors associated with the first member and the second member, determining that the first member and the second member share a common characteristic, an activity and a community and determining whether a proxy payment can be made by a third member of the other members for an amount owed by the first member to the second member;

(e) receiving a selection from the third member to make the payment to the second member of the social network; and

(f) sending a notification to at least one of the other members regarding the third member making the payment.

61. The method of claim 60, wherein the particular type of association is a common geography association.