Device and method for facilitating financial transactions

• US 9,015,074 B2
• Filed: 09/10/2012
• Issued: 04/21/2015
• Est. Priority Date: 02/01/2008
• Status: Active Grant

• Current Assignee: Mazooma Technical Services, Inc. (Nuvei Corp.)
• Original Assignee: Mazooma Technical Services, Inc. (Nuvei Corp.)
• Inventors: Chen, Qun, Emerson, Kenneth James, O'Meara, Edward Vincent
• Primary Examiner(s): Trammell, James
• Assistant Examiner(s): Malhotra, Sanjeev
• Application Number:
  US13/608,003
• Publication Number:
  US 20120330841A1
• Time in Patent Office: 953 Days
• Field of Search: 705/4, 705/14, 705/17, 705/30, 705/35, 705/37, 705/39, 705/40, 705/64, 705/74, 713/187, 709/224
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/383 Anonymous user system
• 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 20/401 Transaction verification
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A device, system, and method for conducting a secure transaction over a network includes receiving from a user, being issued a stored-value financial instrument, a dollar amount to be associated to the stored-value financial instrument, communicating the dollar amount to a debit agent residing on a network processing and communication device, receiving at the debit agent a selection of a non-integrated financial institution selected from a list that includes at least one non-integrated financial institution, receiving at the debit agent a financial-institution user-identifier from the user, communicating the financial-institution user-identifier from the debit agent to the selected non-integrated financial institution, participating in a user-free electronic dialogue between the debit agent and the selected non-integrated financial institution, the dialogue including a request to transfer funds from the selected non-integrated financial institution, and transferring, with the debit agent, the funds from the selected non-integrated financial institution to the stored-value financial instrument.

Claims

1. A device for conducting a secure transaction over a network, the device comprising:

at least one network connection communicatively coupled to at least one network device; and

an intelligent agent and a processor communicatively coupled to the at least one network connection, the intelligent agent and the processor are operable to;

receive, over the at least one network connection, from a user having been issued a stored-value financial instrument, a dollar amount to be associated to the stored-value financial instrument;

receive from the user, over the at least one network connection, a selection of a non-integrated financial institution from a list including at least one nonintegrated financial institution;

receive, over the at least one network connection, a financial-institution user-identifier from the user;

communicate, over the at least one network connection, the financial-institution user-identifier to the selected non-integrated financial institution;

participate, over the at least one network connection, in a user-free electronic dialogue with the selected non-integrated financial institution, the user-free electronic dialogue including a request to transfer funds in the dollar amount from the selected non-integrated financial institution;

associate funds received from the selected non-integrated financial institution to the stored-value financial instrument; and

identify receipt of the funds from the selected non-integrated financial institution into the stored-value financial instrument.

2. The device according to claim 1, wherein the intelligent agent and the processor are further operable to:

participate, over the at least one network connection, in a the user-free electronic dialogue with the selected non-integrated financial institution upon receiving a funds request from a merchant.

3. The device according to claim 1, further comprising:

an agent operable to conduct the user-free electronic dialogue by automatically performing substantially all steps for electronic communication with the selected nonintegrated financial institution to access an account associated with the user.

4. The device according to claim 3, wherein the intelligent agent and the processor are further operable to:

associate funds received from the selected non-integrated financial institution to the stored-value financial instrument.

5. The device according to claim 1, wherein:

the stored-value financial instrument is not issued by the selected non-integrated financial institution.

6. The device according to claim 1, wherein the intelligent agent and the processor are further operable to:

receive, over the at least one network connection, a financial-institution pass-code from the user; and

communicate, over the at least one network connection, the financial-institution passcode to the selected non-integrated financial institution.

7. A device for conducting a secure transaction over a network, the device comprising:

an intelligent agent with an input operable to;

receive a selection of a non-integrated financial-institution from a user;

receive a financial-institution user-identifier from the user; and

receive a dollar amount from the user having been issued a stored-value financial instrument, the dollar amount being associated to the stored-value financial instrument;

and

a processor communicatively coupled to the intelligent agent with the input, the processor operable to;

initiate and maintain a user-free communication session with the selected nonintegrated financial institution; and

associate funds received from the selected non-integrated financial institution to the stored-value financial instrument;

and

an output operable to;

communicate the financial-institution user-identifier to the selected non-integrated financial institution; and

communicate to the selected non-integrated financial institution a request to transfer funds in the dollar amount.

8. The device according to claim 7, wherein the processor is further operable to:

facilitate an agent that automatically performs substantially all steps of the user-free communication session with the selected non-integrated financial institution to gain access to an account associated with the user.

9. The device according to claim 7, wherein the processor is further operable to:

participate in the user-free electronic dialogue with the selected non-integrated financial institution upon receiving a funds request from a merchant.

10. The device according to claim 7, further comprising:

an agent operable to conduct the user-free communication session by automatically performing substantially all steps for electronic communication with the selected nonintegrated financial institution to access an account associated with the user.

11. The device according to claim 10, wherein the processor is further operable to:

associate funds received from the selected non-integrated financial institution to the stored-value financial instrument.

12. The device according to claim 10, wherein the processor is further operable to:

participate in the user-free communication session with the selected non-integrated financial institution upon receiving a funds request from a merchant.

13. The device according to claim 7, wherein:

the input is further operable to receive a financial-institution pass-code from the user; and

the output is further operable to communicate the financial-institution pass-code to the selected non-integrated financial institution.

14. A method for conducting a secure transaction using an intelligent agent over a network, the method comprising:

receiving from a user, being issued a stored-value financial instrument, a dollar amount to be associated to the stored-value financial instrument;

communicating the dollar amount to a debit agent residing on a network processing and communication device;

receiving at the debit agent a selection of a non-integrated financial institution selected from a list that includes at least one non-integrated financial institution;

receiving at the debit agent a financial-institution user-identifier from the user;

communicating the financial-institution user-identifier from the debit agent to the selected non-integrated financial institution;

participating in a user-free electronic dialogue between the debit agent and the selected non-integrated financial institution, the user-free electronic dialogue including a request to transfer funds from the selected non-integrated financial institution; and

transferring, with the debit agent, the funds from the selected non-integrated financial institution to the stored-value financial instrument.

15. The method according to claim 14, wherein:

the funds transferred from the selected non-integrated financial institution to the stored value financial instrument is the funds the dollar amount supplied by the user.

16. The method according to claim 14, wherein:

the financial-institution user-identifier includes a pass-code.

17. The method according to claim 14, further comprising:

transferring the funds associated with the stored-value financial instrument to an account identified by a merchant.