Money transfer system and method
First Claim
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1. A method for transferring money, comprising:
- providing, for purchase at a retail location, a money transfer instrument having product information and a monetary value associated therewith and used by a sender in transferring money to a recipient;
capturing the product information by a POS terminal at the retail location in response to the sender purchasing the money transfer instrument;
in response to and after capture of the product information, generating and issuing a personal identifier to the sender on a receipt printed at the POS terminal;
after the step of issuing and providing the personal identifier, receiving from the sender, by a money transfer host, money transfer information along with the personal identifier;
in response to the money transfer information and personal identifier being received from the sender by the money transfer host, generating and transmitting to the sender a money transfer control identifier that is separate from the personal identifier; and
receiving from the recipient, by the money transfer host, the money transfer control identifier, the money transfer control identifier having been provided to the recipient by the sender, the recipient using the money transfer control identifier to receive transferred money at a money transfer location.
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Abstract
A money transfer system using a money transfer instrument purchased at a retail location. The system includes a POS terminal for entering a UPC code carried on the instrument. The POS terminal issues a PIN in response to the UPC code, with the PIN printed on a receipt. The customer may enter the PIN on the instrument. The customer later uses the PIN to obtain a money transfer control number (MTCN) associated with a record of the transfer transaction from a money transfer host.
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Citations
25 Claims
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1. A method for transferring money, comprising:
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providing, for purchase at a retail location, a money transfer instrument having product information and a monetary value associated therewith and used by a sender in transferring money to a recipient; capturing the product information by a POS terminal at the retail location in response to the sender purchasing the money transfer instrument; in response to and after capture of the product information, generating and issuing a personal identifier to the sender on a receipt printed at the POS terminal; after the step of issuing and providing the personal identifier, receiving from the sender, by a money transfer host, money transfer information along with the personal identifier; in response to the money transfer information and personal identifier being received from the sender by the money transfer host, generating and transmitting to the sender a money transfer control identifier that is separate from the personal identifier; and receiving from the recipient, by the money transfer host, the money transfer control identifier, the money transfer control identifier having been provided to the recipient by the sender, the recipient using the money transfer control identifier to receive transferred money at a money transfer location. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A money transfer system, comprising:
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a plurality of POS devices located at one or more retail locations that receive product IDs from money transfer instruments displayed at the retail locations that are purchased by customer, each instrument for having an associated monetary value and used by a customer in sending money to a recipient; a database associated with the POS devices and storing PINs, each PIN generated and issued to a customer on a printed receipt by one of the POS devices in response to entry of the product ID for a money transfer instrument purchased by one of the customers at the POS device, with the PIN thereafter associated with that instrument, whereby the PIN has not been issued and is not associated with the instrument until after purchase of the instrument by the customer; and a money transfer host receiving from a customer the PIN for an instrument along with personal data relating to a transfer of money associated with that instrument, and in response to receiving the PIN and personal data, subsequently establishing a record of the money transfer and generating and issuing a money transfer control number (MTCN) to the customer, the MTCN identifying the record and being separate from the PIN; wherein the MTCN is thereafter provided to the recipient by the customer in order for the recipient to use in completing the money transfer and receiving cash at a money transfer location. - View Dependent Claims (24, 25)
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Specification