System and method for a mobile wallet

• US 9,117,242 B1
• Filed: 04/25/2012
• Issued: 08/25/2015
• 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:
  US13/456,176
• Time in Patent Office: 1,217 Days
• Field of Search: 705 3- 44
• US Class Current: 1/1
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A computer-implemented system and method includes receiving, from a mobile device, a request to initiate a transaction. The method includes receiving, from the mobile device, a selection of a stored value card from among a plurality of stored value cards as a payment option for the transaction. Additionally or alternatively, the method includes receiving value card information from the mobile device of a user and transferring funds from the balance of the value card to the merchant. The method includes reducing the balance of the value card by the amount of the transferred funds.

Claims

1. A computer-implemented method performed by one or more processors of a mobile wallet computer system, comprising:

sending, by network interface logic of the mobile wallet computer system, a message to a mobile device of a user to inform the user that a merchant issued stored value card with a balance may be used at a merchant that is located within a first predetermined distance of a location of the mobile device;

receiving, by the network interface logic of the mobile wallet computer system, a request from the mobile device to initiate a transaction;

receiving, by the network interface logic of the mobile wallet computer system, a selection from the mobile device of the merchant issued stored value card from among one or more merchant issued stored value cards as a payment option for the transaction;

receiving, by the network interface logic of the mobile wallet computer system, information for the selected merchant issued stored value card from the mobile device;

authenticating the transaction by verifying, by location verification logic of the mobile wallet computer system, that the location of the mobile device is within a second predetermined distance of a location of the merchant;

upon authenticating the transaction, transferring, by account processing logic of the mobile wallet computer system, funds from the balance of the merchant issued stored value card to the merchant; and

reducing, by the account processing logic of the mobile wallet computer system, the balance of the merchant issued stored value card by the amount of the transferred funds.

2. The method of claim 1, further comprising transmitting an indication that the transaction has been completed to the mobile device.

3. The method of claim 1, further comprising receiving payment information from the mobile device to increase the balance of the merchant issued stored value card using funds from a financial institution account held by the user.

4. The method of claim 3, further comprising:

sending a message to the mobile device to update the balance of the merchant issued stored value card; and

allowing the user to specify a preference of payment type; and

wherein the preference of payment type the user specifying the order to preference for payments.

5. The method of claim 1, further comprising:

receiving a mobile device location.

6. The method of claim 5, wherein the message includes at least one of a direction, or address of the merchant.

7. The method of claim 1, further comprising receiving, from a mobile device, an indication to edit the value of the merchant issued stored value card on the mobile device;

receiving a new value from the mobile device for the merchant issued stored value card;

updating the value of the merchant issued stored value card to the value received from the mobile device.

8. The method of claim 1, further comprising receiving an image from a physical value card from a mobile device;

and

transmitting an inquiry to a merchant or a financial institution to determine the value on the physical value card;

updating the value on the physical value card based on the response of the merchant or financial institution.

9. The method of claim 8, further comprising informing the mobile device to update the mobile device to include the determined value on the physical card on a value card stored on the mobile device.

10. The method of claim 8, further comprising transferring funds to a value card to increase the value of the merchant issued stored value card using a financial account information or a credit card information stored on a mobile device.

11. The method of claim 1, further comprising generating a code based on the merchant issued stored value card information that is displayable on the mobile device and scannable at the merchant, wherein the transaction is authenticated based at least partially on the code.

12. A computer-implemented method performed by one or more processors of a mobile wallet computer system, comprising:

sending, network interface logic of the mobile wallet computer system, a message to a mobile device of a user to inform the user that one or more merchant issued stored value cards with a balance may be used at one or more merchants located within a first predetermined distance of a location of the mobile device;

receiving, by the network interface logic of the mobile wallet computer system, a request to initiate a transaction between the user and a merchant;

displaying, by the network interface logic of the mobile wallet computer system and via the mobile device of the user, one or more merchant issued stored value cards to the user to choose as a payment option for the transaction;

receiving, by the network interface logic of the mobile wallet computer system user selection of at least one of the merchant issued stored value cards as the payment option;

providing merchant value card information to the merchant from the mobile device of the user;

authenticating the transaction by verifying, by location verification logic of the mobile wallet computer system, that the location of the mobile device is within a second predetermined distance of a location of the merchant;

upon authenticating the transaction, transferring, by account processing logic of the mobile wallet computer system, funds from the balance of the selected merchant issued stored value card to the merchant; and

reducing, by the account processing logic of the mobile wallet computer system, the balance of the merchant issued stored value card by the amount of the transferred funds.

13. The method of claim 12, further comprising:

receiving the mobile device location; and

displaying the message on the mobile device.

14. The method of claim 12, wherein the displaying includes at least one of a direction, or address of the merchant.

15. The method of claim 12, further comprising:

receiving the mobile device location; and

sending a message to the mobile device to display the names of all merchants in a predefined vicinity of the mobile device location.

16. The method of claim 12, further comprising:

receiving, from a mobile device, an indication to edit the value of the merchant issued stored value card on the mobile device;

receiving a new value from the mobile device for the merchant issued stored value card; and

increasing the value of the merchant issued stored value card by the value received from the mobile device.

17. The method of claim 12, further comprising:

receiving, from the mobile device, an indication to edit the value of the merchant issued stored value card on the mobile device;

receiving a new value from the mobile device for the merchant issued stored value card;

updating the value of the merchant issued stored value card to the value received from the mobile device; and

informing the mobile device to update the mobile device to include the determined value on the physical card on the merchant issued stored value card stored on the mobile device.

18. The method of claim 16, further comprising transmitting an indication that the transaction has been completed to the mobile device.

19. The method of claim 16, further comprising receiving payment information from the mobile device to increase the balance of the merchant issued stored value card using funds from a financial institution account held by the user.

20. A mobile wallet computer system, comprising:

one or more processors;

machine readable storage media coupled to the one or more processors and having instructions stored therein that are executable by the one or more processors, the machine readable storage media comprising;

network interface logic configured to;

send a message to a mobile device of a user to inform the user that a merchant issued stored value card with a balance may be used at a merchant that is located within a first predetermined distance of a location of the mobile device;

receive a request to initiate a transaction between the user and the merchant; and

receive a user selection of the merchant issued stored value card as a payment option;

location verification logic configured to authenticate the transaction by verifying that the location of the mobile device is within a second predetermined distance of a location of the merchant; and

account processing logic configured to;

upon authentication of the transaction, transfer funds from the balance of the selected merchant issued stored value card to the merchant; and

increase the value of the merchant issued stored value card by using funds from a financial institution account held by the user.

21. The computer system of claim 20, wherein the processor is configured to receive the mobile device location.

22. The computer system of claim 20, wherein the merchant issued value card is either a physical card or a virtual card.