In-lane money transfer systems and methods

• US 8,851,371 B2
• Filed: 05/17/2013
• Issued: 10/07/2014
• Est. Priority Date: 05/18/2005
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Hansen, Kurt, Sayor, Thomas
• Primary Examiner(s): Le, Thien M
• Assistant Examiner(s): TAYLOR, APRIL ALICIA
• Application Number:
  US13/897,160
• Publication Number:
  US 20130325642A1
• Time in Patent Office: 508 Days
• Field of Search: 235379-381, 705/16, 705/30, 705/35, 705/39, 705 42- 44
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

The present invention provides systems and methods to initiate, facilitate, process and/or perform money transfers. One such method includes receiving a request for a transfer pair verification from a vendor location (360), and verifying that the transfer pair is associated with a valid transfer pair record (362). The method includes sending the transfer pair verification to the vendor location (368), receiving a money transfer request (370) associated with the transfer pair from the vendor location, and authorizing a money transfer (372) to at least one of a first and second customers associated with the transfer pair. In this manner, a vendor location, which may include a point-of-sale device and may be a retail outlet (e.g., grocery store, gas station, or the like), can be used to facilitate a money transfer between two customers.

Claims

1. A system for processing money transfers, the system comprising:

a point of sale device and a host computer communicatively coupled to the point of sale device, wherein the point of sale device is configured to;

receive a request for verification of a transfer code, the transfer code being associated with a transfer record having a plurality of transfer codes, wherein a first transfer code differs from a second transfer code by a recipient designator, and each recipient designator identifies a different recipient;

send the request for verification of the transfer code to the host computer;

receive a verification of the transfer code from the host computer;

receive a money transfer request associated with the transfer code, the money transfer request comprising a transfer of funds from a first customer to a second customer;

send the money transfer request to the host computer; and

receive an authorization of the money transfer request from the host computer so as to effect a transfer of funds from the first customer to the second customer.

2. The system of claim 1, wherein input is provided to the point of sale device via an agent of a money transfer system.

3. The system of claim 1, wherein the transfer code identifies a sender of funds and a receiver of funds for the money transfer.

4. The system of claim 3, wherein the transfer code comprises a recipient designator that identifies the sender of funds and the receiver of funds.

5. The system of claim 1, wherein the transfer code is associated with either or both a magnetic stripe or a Universal Product Code (UPC) of a presentation instrument.

6. The system of claim 1, wherein the transfer code comprises a maximum amount of funds that are transferable in a money transfer transaction.

7. The system of claim 1, wherein the transfer code comprises a predetermined amount of funds to transfer from the first customer to the second customer.

8. A method of performing a money transfer, the method comprising:

providing via a computer system, a request for verification of a transfer code, the transfer code being associated with a transfer record having a plurality of transfer codes, wherein a first transfer code differs from a second transfer code by a recipient designator, and each transfer designator identifies a different recipient;

receiving via the computer system, a verification of the transfer code, the verification comprising a determination that the transfer code is associated with the transfer record and an identification of a sender of funds or a receiver of funds;

providing via the computer system, a money transfer request associated with the transfer code and involving the sender of funds or the receiver of funds; and

receiving via the computer system, an authorization of the money transfer request so as to effect a transfer of funds from the sender of funds or a transfer of funds to the receiver of funds.

9. The method of claim 8, wherein the computer system comprises a website of a money transfer system.

10. The method of claim 8, wherein the computer system comprises a point of sale device.

11. The method of claim 8, wherein the transfer code comprises a recipient designator the sender of funds or the receiver of funds.

12. The method of claim 11, wherein the recipient designator is variable so that the sender of funds and the receiver of funds are variable depending on the recipient designator used.

13. The method of claim 8, further comprising receiving, via the computer system, the transfer code from a magnetic stripe or a Universal Product Code (UPC) of a presentation device.

14. The method of claim 8, wherein the transfer code comprises a maximum amount of funds that are transferable in a money transfer transaction, or the transfer code comprises a predetermined amount of funds to transfer in the money transfer transaction.

15. A system for processing money transfers, the system comprising:

a host computer system that is communicatively coupled to a point of sale device, wherein the host computer system is configured to;

establish a transfer record having a plurality of transfer codes;

wherein a first code differs from a second transfer code by a recipient designator, and each recipient designator identifies a different recipient;

receive, from the point of sale device, a request for verification of a transfer code;

verify that the transfer code is associated with the transfer record;

transmit the transfer code verification to the point of sale device;

receive, from the point of sale device, a money transfer request associated with the transfer code;

authorize a money transfer from a first customer to a second customer based on the money transfer request; and

transmit an authorization of the money transfer request to the point of sale device.

16. The system of claim 15, wherein establishing the transfer record comprises:

verifying an identity of a sender of funds or a receiver of funds;

receiving information for the sender of funds or the receiver of funds; and

recording the information for the sender of funds or the receiver of funds in a database.

17. The system of claim 16, further comprising providing the transfer code to the sender of funds or the receiver of funds.

18. The system of claim 15, wherein the transfer code comprises a maximum amount of funds that are transferable in a money transfer transaction.

19. The system of claim 15, wherein the transfer code comprises a predetermined amount of funds to transfer from the first customer to the second customer.