Item-specific money transfer methods and systems

• US 8,788,408 B2
• Filed: 03/30/2010
• Issued: 07/22/2014
• Est. Priority Date: 03/30/2010
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Dunwoody, Kimberly, Paintin, Scott
• Primary Examiner(s): Niquette, Robert R
• Assistant Examiner(s): LIU, CHIA-YI
• Application Number:
  US12/750,621
• Publication Number:
  US 20110246328A1
• Time in Patent Office: 1,575 Days
• Field of Search: 705 35- 45
• 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 20/385 using an alias or single-use codes
• 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 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/123 Tax preparation or submission

Abstract

The invention provides various systems and methods for implementing item-specific money transfers. The method includes receiving identification of an item, determining a vendor and a price of the item, and receiving, from a receiver, a money transfer request for an amount of the price of the item. The money transfer request identifies a sender. The method further includes sending the money transfer request to the sender, receiving, from the sender, authorization for a money transfer in an amount of the price of the item. The authorization includes an indication that funds from the money transfer are restricted for use only for the item.

Claims

1. A method of implementing item-specific money transfers, the method comprising:

receiving, by a money transfer computer processor, identifiers of an item, wherein the identifiers of the item is a barcode and a photograph of the item;

determining, by the money transfer computer processor, at least one vendor and at least one price of the item or a substitute for the item;

receiving, by the money transfer computer processor, from a receiver, a money transfer request for an amount of the price of the item or a substitute for the item, wherein the money transfer request identifies a sender;

sending, by the money transfer computer processor, the money transfer request to the sender;

receiving, by the money transfer computer processor, from the sender, authorization for a money transfer in an amount of the price of the item or a substitute for the item, wherein the authorization includes an indication that funds from the money transfer are restricted for use only for the item or a substitute for the item, and wherein the authorization further includes one or more return restrictions associated with the item or substitute item;

pre-staging, by the money transfer computer processor, the money transfer;

binding, by the money transfer computer processor, the funds of the money transfer to the item using the identifiers of the item, wherein the binging includes;

associating the identifiers including the barcode of the item and the photograph of the item with the funds of the money transfer,

generating a personal identification number (PIN) associated with the funds of the money transfer,

providing access to the funds of the money transfer using the PIN which is bound to the funds of the money transfer, and

based on the barcode of the item and the photograph of the item and by using the PIN, restricting the funds from the money transfer to only be used for payment to the vendor for the item or a predetermined substitute for the item;

providing the identifiers and the PIN to the vendor of the item; and

in response to the providing of the identifiers and the PIN to the vendor, releasing, by the money transfer computer processor, to the vender of the item or a substitute for the item, the funds of the money transfer for payment of the item or the predetermined substitute for the item.

2. A method of implementing item-specific money transfers as in claim 1, wherein the interface comprises a kiosk.

3. A method of implementing item-specific money transfers as in claim 1, further comprising:

sending a photograph of the item or a substitute for the item to the money transfer computer processor;

determining that no match of the item or a substitute for the item is found; and

in response to no match of the item or a substitute for the item being found, identifying one or more related items.

4. A method of implementing item-specific money transfers as in claim 1, further comprising providing a price comparison interface to one or more of the following:

the sender, the receiver, or vendor.

5. A method of implementing item-specific money transfers as in claim 4, wherein the price comparison interface is configured to search one or more of the following:

a database of items or substitutes for the items for the identified item or a substitute for the item, and display price comparisons for the identified item or a substitute for the item from other vendors.

6. A method of implementing item-specific money transfers as in claim 5, receiving, from the sender or the receiver, a selection of the item or a substitute for the item from one of the other vendors.

7. A method of implementing item-specific money transfers as in claim 6, in response to the selection, adjusting the amount of the money transfer to the price of the item or a substitute for the item from the one of the other vendors.

8. A method of implementing item-specific money transfers as in claim 1, wherein the item or a substitute for the item comprises a charitable donation.

9. A method of implementing item-specific money transfers as in claim 8, further comprising in response to the item or a substitute for the item comprising a charitable donation, sending to the sender a tax statement related to the charitable donation.

10. A method of implementing item-specific money transfers as in claim 1, wherein the restricted use of the funds is restricted based in part on the Universal Product Code (UPC) associated with the item or a substitute for the item.

11. A method of implementing item-specific money transfers as in claim 10, wherein the funds from the money transfer are sent to a mobile wallet of the receiver.

12. A method of implementing item-specific money transfers as in claim 11, wherein the funds in the mobile wallet are restricted to purchase the item or a substitute for the item associated with the UPC.

13. A non-transitory computer-readable medium having sets of instructions which, when executed by a computer, cause the computer to:

receive identifiers of an item or a substitute for the item, wherein the identifiers of the item is a barcode and a photograph of the item;

determine a vendor and a price of the item or a substitute for the item;

receive, from a receiver, a money transfer request for an amount of the price of the item or a substitute for the item, wherein the money transfer request identifies a sender;

send the money transfer request to the sender;

receive, from the sender, authorization for a money transfer in an amount of the price of the item or a substitute for the item, wherein the authorization includes an indication that funds from the money transfer are restricted for use only for the item or a substitute for the item;

pre-stage the money transfer;

bind the funds of the money transfer to the item using the identifiers of the item, wherein the binging includes;

associating the identifiers including the barcode of the item and the photograph of the item with the funds of the money transfer,

generating a personal identification number (PIN) associated with the funds of the money transfer,

providing access to the funds of the money transfer using the PIN which is bound to the funds of the money transfer, and

based on the barcode of the item and the photograph of the item and by using the PIN, restricting the funds from the money transfer to only be used for payment to the vendor for the item or a predetermined substitute for the item;

providing the identifiers and the PIN to the vendor of the item; and

in response to the providing of the identifiers and the PIN to the vendor, release to the vender of the item or a substitute for the item, the money transfer for payment of the item or the predetermined substitute for the item.