System and method for a mobile wallet

• US 8,924,292 B1
• Filed: 04/25/2012
• Issued: 12/30/2014
• Est. Priority Date: 04/25/2012
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Ellis, Stephen M., Kennedy, Michael J., Kurani, Ashish Bhoopen, Lowry, Melissa, Meyyappan, Uma, Sahni, Bipin, Stroke, Nikolai
• Primary Examiner(s): Poinvil, Frantzy
• Application Number:
  US13/456,169
• Time in Patent Office: 979 Days
• Field of Search: 705 10- 44
• US Class Current: 705/41
• CPC Class Codes: G06K 19/06028 using bar codes
• CPC Class Codes: G06K 7/1413 1D bar codes
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3274 using a pictured code, e.g. barcode or QR-code, being displayed on the M-device
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0261 based on user location
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A computer-implemented system and method includes receiving a request to perform a transaction between a user having a mobile device and the user having account at a financial institution and a merchant. The method includes determining a first location of the user based on a location of the mobile device and the method includes determining a second location of the user based on a location of the merchant. The first and second locations are compared to ensure a match between the two locations. The method further includes receiving an identifier that is embedded in a code that is displayable on the mobile device. The method includes transmitting an indication that the transaction has been completed based on the identifier and based on the match of the first and second location.

Claims

1. A computer-implemented method, comprising:

receiving a request to initiate a financial transaction between an account holder with a mobile device and a merchant;

generating a code, using a processor, that is displayable on the mobile device and scannable at a point of sale, including embedding in the code a transaction identification number, a geographic location of the mobile device, a timestamp for the financial transaction;

sending the code to the mobile device or the merchant for the other of the mobile device and the merchant to scan at the point of sale and transmit to a financial institution to request a transfer of funds from an account held by the account holder;

receiving the code; and

sending the requested funds to the merchant upon authenticating the transaction using the code.

2. The computer-implemented method of claim 1, wherein the request from the mobile device includes a current geographic location of the mobile device.

3. The computer-implemented method of claim 1, wherein the code is generated in the form of at least one of a two dimensional image, two dimensional image with color and/or time, near field communication and radio frequency communication.

4. The computer-implemented method of claim 1, further comprising determining a geographic location of the merchant;

sending the requested funds to the merchant upon verifying the geographic location of the mobile device is within a predetermined distance of the geographic location of the merchant.

5. The computer-implemented method of claim 4, wherein the request for funds includes an amount of funds to be transferred to the merchant from the financial institution.

6. The computer-implemented method of claim 5, further comprising sending a request for approval to transfer funds to the account holder;

transferring funds from the account held by account holder to the merchant upon receiving approval from the account holder.

7. The computer-implemented method of claim 5, wherein the mobile device receives the amount of the financial transaction from the financial institution when the financial institution requests account holder approval.

8. The computer-implemented method of claim 1, wherein the code is configured to be optically scanned at the point of sale.

9. A computer-implemented method comprising:

receiving a request for a code to provide to a merchant, the code being displayable on a mobile device that belongs to an account holder;

generating the code, using a processor, including embedding in the code a transaction identification number, a geographic location of the mobile device, a timestamp;

sending the code to the mobile device or the merchant for the other of the mobile device and the merchant to scan at a point of sale location and transmit to a financial institution to request a transfer of funds from an account held by the account holder;

receiving the request for funds including a location of the merchant and an amount of the transaction; and

sending the requested funds to the merchant upon verifying the geographic location of the mobile device is within a predetermined distance of the location of the merchant.

10. The computer-implemented method of claim 9, wherein the location of the merchant is determined based on an address of the merchant.

11. The computer-implemented method of claim 9, further comprising sending a request for approval to transfer funds to the account holder.

12. The computer-implemented method of claim 9, wherein the mobile device provides access to both bank account information and mobile wallet information.

13. The computer-implemented method of claim 9, wherein the code is configured to be optically scanned at the point of sale.