System and method for performing person-to-person funds transfers via wireless communications

• US 8,688,570 B2
• Filed: 04/27/2007
• Issued: 04/01/2014
• Est. Priority Date: 04/27/2007
• Status: Active Grant

• Current Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Jones, Jessica U., Peart, Lee J., Beenau, Blayn W., Saunders, Peter D.
• Primary Examiner(s): Shaikh, Mohammad Z
• Application Number:
  US11/741,170
• Publication Number:
  US 20080270300A1
• Time in Patent Office: 2,531 Days
• Field of Search: 705 35- 45, 235/380
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A funds-transfer system includes a processor and a memory storing control logic for causing the processor to enable a buyer to transfer funds to a seller via a mobile telephone. The control logic includes program code for causing the processor to receive a payment request transmitted from a mobile telephone of the buyer. The payment request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller, and the payment request is transmitted from a payment application stored in the buyer'"'"'s mobile telephone. The payment request identifies a purchase amount to be transferred, and information identifying the financial account held by the buyer. The control logic also includes program code for causing the processor to charge the purchase amount to the financial account held by the buyer and to transfer the purchase amount to a financial account held by the seller. Additionally, the control logic includes program code for causing the processor to provide a payment acknowledgment to the buyer'"'"'s mobile telephone and to the seller.

Claims

1. A non-transitory computer program product having computer-executable instructions stored thereon that, in response to execution by a computer-based system for enabling a buyer to transfer funds to a seller via mobile telephones, cause the computer-based system to perform operations comprising:

receiving, by the computer-based system, a funds-transfer request transmitted from a mobile telephone of the seller,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller,

wherein the funds-transfer request is transmitted from a payment application stored in the seller'"'"'s mobile telephone,

wherein the payment application is uploaded to the seller'"'"'s mobile telephone when the computer receives a request from the seller'"'"'s mobile telephone, and

wherein the funds-transfer request identifies a purchase amount to be transferred, and information identifying the financial account held by the seller;

processing, by the computer-based system, the funds-transfer request according to the purchase amount and the received financial account information;

providing, by the computer-based system, an insufficient fund notification to the mobile telephone of the buyer in response to the financial account having insufficient funds to complete the transfer of funds;

requesting, by the computer-based system, the buyer modify the funds-transfer request via the mobile telephone of the buyer to identify a different financial account in response to the financial account having insufficient funds to complete the transfer of funds;

providing, by the computer-based system, an invalid account notification to both the mobile telephone of the buyer and the mobile telephone of the seller, in response to the received financial account information being invalid;

providing, by the computer-based system, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the computer-based system, that the buyer modify the funds-transfer request via the mobile telephone to identify a valid financial account, in response to the received financial account information corresponding to an invalid financial account;

charging, by the computer-based system, the purchase amount to one of the financial account or the valid financial account held by the buyer and to transfer the purchase amount to a financial account held by the seller; and

providing, by the computer-based system, a payment acknowledgment to the buyer'"'"'s mobile telephone and to the seller'"'"'s mobile telephone.

2. The non-transitory computer program product of claim 1, wherein the information identifying the financial account held by the seller is transmitted from the seller'"'"'s mobile telephone to the buyer'"'"'s mobile telephone.

3. The non-transitory computer program product of claim 1,

wherein the information identifying the financial account held by the seller includes a telephone number of the seller'"'"'s mobile telephone, and

wherein the payment acknowledgment is a text message sent to the seller'"'"'s mobile telephone.

4. The non-transitory computer program product of claim 1, wherein the funds-transfer request includes authentication information used to authenticate the seller.

5. A non-transitory computer program product having computer-executable instructions stored thereon that, in response to execution by a computer-based system for enabling funds to be transferred between a first party and a second party via mobile devices, cause the computer-based system to perform operations comprising:

receiving, by the computer-based system, a request transmitted from a mobile device of the first party,

wherein the request is for a transfer of funds to a financial account held by the first party from a financial account held by the second party,

wherein the request is transmitted from a payment application stored in the first party'"'"'s mobile device,

wherein the payment application is uploaded to the first party'"'"'s mobile device when the computer receives a request from the first party'"'"'s mobile device, and

wherein the request identifies a purchase amount to be transferred, information identifying the financial account of the first party, and information identifying the financial account of the second party;

processing, by the computer-based system, the request according to the purchase amount and the financial account of the first party;

providing, by the computer-based system, an insufficient fund notification to the first party'"'"'s mobile device in response to the financial account of the first party having insufficient funds to complete the transfer of funds;

requesting, by the computer-based system, the first party modify the request to identify a different financial account via the mobile device of the first party in response to the financial account of the first party having insufficient funds to complete the transfer of funds;

providing, by the computer-based system, an invalid account notification to both the mobile device of the first party and mobile device of the second party, in response to the financial account information being invalid;

providing, by the computer-based system, a notification to the mobile device of the first party to modify the funds-transfer request;

requesting, by the computer-based system, that the first party modify the funds-transfer request via the mobile device to identify a valid financial account, in response to the received financial account information corresponding to an invalid financial account;

transferring, by the computer-based system, the purchase amount between one of the financial account and the valid financial account held by the first party and the financial account held by the second party; and

providing, by the computer-based system, a payment acknowledgment to the first party'"'"'s mobile device and to the second party'"'"'s mobile device.

6. The non-transitory computer program product of claim 5, wherein the first party'"'"'s mobile device is a mobile telephone or a wireless email device.

7. The non-transitory computer program product of claim 5,

wherein the mobile device of the second party is a mobile telephone or a wireless email device, and

wherein the information identifying the financial account of the second party is transmitted from the second party'"'"'s mobile device to the first party'"'"'s mobile device.

8. The non-transitory computer program product of claim 5, wherein the first party is a payer and the second party is a payee.

9. The non-transitory computer program product of claim 5, wherein the first party is a payee and the second party is a payer.

10. A non-transitory computer-readable medium having control logic stored therein, which in response to execution by a computer program product for enabling a buyer to transfer funds to a seller via mobile telephones cause the computer program product to perform operations comprising:

uploading, by the computer program product, a payment application to a mobile telephone of the seller upon an upload request transmitted from the seller'"'"'s mobile telephone to the computer,

wherein the uploaded payment application is personalized for the seller in accordance with identification information transmitted from the seller'"'"'s mobile telephone to the computer, and

wherein the uploaded payment application is stored in a memory of the seller'"'"'s mobile telephone;

receiving, by the computer program product, a funds-transfer request transmitted from the seller'"'"'s mobile telephone,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by a seller, and

wherein the funds-transfer request is transmitted in accordance with the payment application and identifies a purchase amount to be transferred, a telephone number for a mobile telephone of the buyer and information identifying the financial account held by the seller;

processing, by the computer program product, the funds-transfer request according to the purchase amount and the financial account, wherein the computer provides an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account having insufficient funds to complete the transfer of funds, and wherein the computer provides an invalid financial account notification to both the mobile telephone of the buyer and mobile telephone of the seller, in response to the financial account information corresponding to an invalid financial account,

providing, by the computer program product, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the computer program product, the buyer modify the funds-transfer request via the buyer'"'"'s mobile telephone to identify a valid financial account in response to at least one of the financial account having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

charging, by the computer program product, the purchase amount to one of the financial account or the different financial account held by the buyer and to transfer the purchase amount to a financial account held by the seller; and

providing, by the computer program product, a payment acknowledgment to each of the buyer'"'"'s mobile telephone and the seller'"'"'s mobile telephone.

11. The non-transitory computer-readable medium of claim 10, wherein the telephone number of the buyer'"'"'s mobile telephone identifies the financial account held by the buyer.

12. The non-transitory computer-readable medium of claim 10, wherein the funds-transfer request identifies the financial account held by the buyer.

13. The non-transitory computer-readable medium of claim 10, wherein the telephone number of the buyer'"'"'s mobile telephone is inputted to the payment application via a wireless transmission.

14. The non-transitory computer-readable medium of claim 10, wherein the telephone number of the buyer'"'"'s mobile telephone is manually inputted to the payment application using a keypad of the seller'"'"'s mobile telephone.

15. A non-transitory computer-readable medium having control logic stored therein, which in response to execution by a computer system for enabling a buyer to transfer funds to a seller via mobile telephones cause the computer system to perform operations comprising:

receiving, at the computer system, a funds-transfer request transmitted from a mobile telephone of the seller,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller,

wherein the funds-transfer request is transmitted from a payment application stored in the seller'"'"'s mobile telephone,

wherein the payment application is uploaded to the seller'"'"'s mobile telephone when the computer receives a request from the seller'"'"'s mobile telephone, and

wherein the funds-transfer request identifies a purchase amount to be transferred, and information identifying the financial account held by the seller;

processing, by the computer system, the funds transfer request according to the purchase amount and the financial account, and wherein the computer provides an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account having insufficient funds to complete the transfer of funds, and wherein the computer provides an invalid financial account notification to both the mobile telephone of the buyer and mobile telephone of the seller, in response to the financial account information corresponding to an invalid financial account;

providing, by the computer system, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the computer system, the buyer modify via the buyer'"'"'s mobile telephone the funds-transfer request to identify a valid financial account in response to at least one of the financial account having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

charging, by the computer system, the purchase amount to one of the financial account or the different financial account held by the buyer and to transfer the purchase amount to a financial account held by the seller; and

providing, by the computer system, a payment acknowledgment to the buyer'"'"'s mobile telephone and to the seller'"'"'s mobile telephone.

16. The non-transitory computer-readable medium of claim 15, wherein the information identifying the financial account held by the seller is transmitted from the seller'"'"'s mobile telephone to the buyer'"'"'s mobile telephone.

17. The non-transitory computer-readable medium of claim 16, wherein the payment acknowledgment is provided to the seller'"'"'s mobile telephone.

18. The non-transitory computer-readable medium of claim 15,

wherein the information identifying the financial account held by the seller includes a telephone number of the seller'"'"'s mobile telephone, and

wherein the payment acknowledgment is a text message sent to the seller'"'"'s mobile telephone.

19. The non-transitory computer-readable medium of claim 15, wherein the funds-transfer request includes authentication information used to authenticate the seller.

20. A computer system for enabling a buyer to transfer funds to a seller via mobile telephones comprising:

a network interface communicating with a memory;

the memory communicating with a processor for virtual mobile transactions; and

the processor, when executing a computer program, performs operations comprising;

receiving, at the processor, a request transmitted from a mobile device of the first party,

wherein the request is for a transfer of funds to a financial account held by the first party from a financial account held by the second party,

wherein the request is transmitted from a payment application stored in the first party'"'"'s mobile device,

wherein the payment application is uploaded to the first party'"'"'s mobile device when the computer receives a request from the first party'"'"'s mobile device, and

wherein the request identifies a purchase amount to be transferred, information identifying the financial account of the first party, and information identifying the financial account of the second party;

process, by the processor, the funds-transfer request according to the purchase amount and the financial account, and wherein the computer provides an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account having insufficient funds to complete the transfer of funds, and wherein the computer provides an invalid account notification to both the mobile telephone of the buyer and mobile telephone of the seller, in response to the financial account information corresponding to an invalid financial account;

providing, by the processor, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

request, by the processor, the buyer modify via the buyer'"'"'s mobile telephone the funds-transfer request to identify a valid financial account in response to at least one of the financial account having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

transferring, by the processor, the purchase amount between one of the financial account or the different financial account held by the first party and the financial account held by the second party; and

providing, by the processor, a payment acknowledgment to the first party'"'"'s mobile device and to the second party'"'"'s mobile device.

21. The computer system of claim 20, wherein the first party'"'"'s mobile device is a mobile telephone or a wireless email device.

22. The computer system of claim 20,

wherein the communication device of the second party is a mobile telephone or a wireless email device, and

wherein the information identifying the financial account of the second party is transmitted from the second party'"'"'s communication device to the first party'"'"'s mobile device.

23. The computer system of claim 20, wherein the first party is a payer and the second party is a payee.

24. The computer system of claim 20, wherein the first party is a payee and the second party is a payer.

25. The computer system of claim 20, wherein the payment application is uploaded to the first party'"'"'s mobile device when the computer receives a request from the first party'"'"'s mobile device.

26. A system for enabling a buyer to transfer funds to a seller via mobile telephones comprising:

a network interface communicating with a memory;

the memory communicating with a processor for virtual mobile transactions; and

the processor, when executing a computer program, performs operations comprising;

downloading, by the processor, a payment application to a mobile telephone of the seller upon a download request transmitted from the seller'"'"'s mobile telephone to the system,

wherein the downloaded payment application is personalized for the buyer in accordance with identification information transmitted from the seller'"'"'s mobile telephone to the system, and

wherein the downloaded payment application is stored in a memory of the seller'"'"'s mobile telephone;

receiving, by the processor, a funds-transfer request transmitted from the seller'"'"'s mobile telephone,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller, and

wherein the funds-transfer request is transmitted in accordance with the payment application and identifies a purchase amount to be transferred, a telephone number for a mobile telephone of the buyer, and information identifying the financial account held by the seller;

processing, by the processor, the funds-transfer request according to the purchase amount and the financial account, and wherein the system provides an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account having insufficient funds to complete the transfer of funds, and wherein the computer provides an invalid account notification to both the mobile device of the buyer and mobile device of the seller, in response to the financial account information corresponding to an invalid financial account;

providing, by the processor, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the processor, the buyer modify via the buyer'"'"'s mobile telephone the funds-transfer request to identify a valid financial account in response to at least one of the financial account having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

charging, by the processor, the purchase amount to the financial account held by the buyer and to transfer the purchase amount to a financial account held by the seller; and

providing, by the processor, a payment acknowledgment to each of the buyer'"'"'s mobile telephone and the seller'"'"'s mobile telephone.

27. The system of claim 26, wherein the telephone number of the buyer'"'"'s mobile telephone identifies the financial account held by the buyer.

28. The system of claim 26, wherein the funds-transfer request identifies the financial account held by the buyer.

29. The system of claim 26, wherein the telephone number of the buyer'"'"'s mobile telephone is inputted to the payment application via a wireless transmission.

30. The system of claim 26, wherein the telephone number of the buyer'"'"'s mobile telephone is manually inputted to the payment application using a keypad of the seller'"'"'s mobile telephone.

31. A method comprising:

receiving, by a computer-based system configured for a buyer to transfer funds to a seller via mobile telephones, a funds-transfer request transmitted from a mobile telephone of the seller,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller,

wherein the funds-transfer request is transmitted from a payment application stored in the seller'"'"'s mobile telephone,

wherein the payment application is uploaded to the seller'"'"'s mobile telephone upon a download request transmitted from the seller'"'"'s mobile telephone to a computer system, and

wherein the funds-transfer request identifies a purchase amount to be transferred, and information identifying the financial account held by the seller;

processing, by the computer-based system, the funds-transfer request according to the purchase amount and the financial account held by the buyer;

providing, by the computer-based system, an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account of the buyer having insufficient funds to complete the transfer of funds;

providing, by the computer-based system, an invalid account notification to both the buyer'"'"'s mobile telephone and the sellers mobile telephone, in response to the financial account information corresponding to an invalid financial account;

providing, by the computer-based system, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the computer-based system, the buyer modify via the buyer'"'"'s mobile telephone the funds-transfer request to identify a valid financial account in response to at least one of the financial account of the buyer having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

charging, by the computer-based system, the purchase amount to one of the financial account or the different financial account held by the buyer;

transferring, by the computer-based system, the purchase amount to a financial account held by the seller; and

providing, by the computer-based system, a payment acknowledgment to the buyer'"'"'s mobile telephone and to the seller'"'"'s mobile telephone.

32. A method comprising:

receiving, by a computer-based system configured for funds to be transferred between a first party and a second party via mobile devices, a request transmitted from a mobile device of the first party,

wherein the request is for a transfer of funds to a financial account held by the first party from a financial account held by the second party,

wherein the request is transmitted from a payment application stored in the first party'"'"'s mobile device,

wherein the payment application is uploaded to the first party'"'"'s mobile device upon a download request transmitted from the first party'"'"'s mobile device to a computer system, and

wherein the request identifies a purchase amount to be transferred, information identifying the financial account of the first party, and information identifying the financial account of the second party;

processing, by the computer-based system, the request according to the purchase amount and the financial account of the second party;

providing, by the computer-based system, an insufficient fund notification to the second party mobile device in response to the financial account of the second party having insufficient funds to complete the transfer of funds;

providing, by the computer-based system, an invalid account notification to both the buyer'"'"'s mobile telephone and the sellers mobile telephone, in response to the financial account information corresponding to an invalid financial account;

providing, by the computer-based system, a notification to the mobile device of the second party to modify the funds-transfer request;

requesting, by the computer-based system, the second party modify via the second party mobile device the request to identify a valid financial account in response to at least one of the financial account of the second party having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

transferring, by the computer-based system, the purchase amount between the financial account held by the first party and one of the financial account or the different financial account held by the second party; and

providing, by the computer-based system, a payment acknowledgment to the first party'"'"'s mobile device and to the second party'"'"'s mobile device.

33. A method comprising:

uploading, by a computer-based system configured for a buyer to transfer funds to a seller via mobile telephones, a payment application to a mobile telephone of the seller upon an upload request transmitted from the seller'"'"'s mobile telephone to the computer,

wherein the uploaded payment application is personalized for the seller in accordance with identification information transmitted from the seller'"'"'s mobile telephone to the computer, and

wherein the uploaded payment application is stored in a memory of the seller'"'"'s mobile telephone;

receiving, by the computer-based system, a funds-transfer request transmitted from the seller'"'"'s mobile telephone,

wherein the funds-transfer request is for a transfer of funds from a financial account held by the buyer to a financial account held by the seller, and

wherein the funds-transfer request is transmitted in accordance with the payment application and identifies a purchase amount to be transferred, a telephone number for a mobile telephone of the buyer and information identifying the financial account held by the seller;

processing, by the computer-based system, the funds-transfer request according to the purchase amount and the financial account of the buyer;

providing, by the computer-based system, an insufficient fund notification to the buyer'"'"'s mobile telephone in response to the financial account of the buyer having insufficient funds to complete the transfer of funds;

providing, by the computer-based system, an invalid account notification to both the buyer'"'"'s mobile telephone and the sellers mobile telephone, in response to the financial account being invalid;

providing, by the computer system, a notification to the mobile telephone of the buyer to modify the funds-transfer request;

requesting, by the computer-based system, the buyer modify via the buyer'"'"'s mobile telephone the funds-transfer request to identify a valid financial account in response to at least one of the financial account of the buyer having insufficient funds to complete the transfer of funds and receipt of an invalid financial account notification;

charging, by the computer-based system, the purchase amount to the financial account held by the buyer;

transferring, by the computer-based system, the purchase amount to a financial account held by the seller; and

providing, by the computer-based system, a payment acknowledgment to each of the buyer'"'"'s mobile telephone and the seller'"'"'s mobile telephone.