System and method for a mobile wallet

• US 9,600,815 B1
• Filed: 07/25/2014
• Issued: 03/21/2017
• 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:
  US14/341,384
• Time in Patent Office: 970 Days
• Field of Search: 705 3- 44
• US Class Current: 1/1
• 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 merchant and a user having a mobile device and an account at a financial institution, determining a first location of the user based on a location of the mobile device, determining a second location of the user based on a location of the merchant, comparing the first and second location to ensure a match, receiving an identifier, the identifier being embedded in a code displayable on the mobile device, and transmitting an indication that the transaction has been completed, the transaction being 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 perform a transaction between a merchant and a user having a mobile device and an account at a financial institution;

determining a first location of the user based on a location of the mobile device;

determining a second location of the user based on a location of the merchant;

comparing the first and second location to ensure a match;

receiving an identifier, the identifier being embedded in a code provided by the mobile device, wherein the code is provided as a two dimensional image, wherein the code further comprises a token generated by a computer processor of the financial institution and provided to the mobile device, and wherein the token is a sixteen digit number that is provided to the merchant;

and transmitting an indication that the transaction has been completed, the transaction being completed based on the identifier and based on the match of the first and second location.

2. The method of claim 1, wherein comparing the first and second location to ensure the match comprises ensuring the first and second location are within a predetermined distance of each other.

3. The method of claim 1, further comprising:

transferring funds to the merchant from a checking account of the user.

4. The method of claim 1, wherein the identifier is a unique identifier generated by the financial institution.

5. The method of claim 1, wherein the transaction is completed based on receiving approval for the transaction from the user.

6. The method of claim 1, further comprising:

upon comparing the first and second location to ensure a match and prior to receiving the identifier;

generating a transaction code for the transaction, wherein the transaction code is displayable on the mobile device and includes the identifier; and

transmitting the transaction code to the mobile device.

7. A computer system, comprising:

a processor coupled to a non-transitory memory, wherein the processor is configured to;

receive a request to perform a transaction between a merchant and a user having a mobile device and an account at a financial institution;

determine a first location of the user based on a location of the mobile device;

determine a second location of the user based on a location of the merchant;

compare the first and second location to ensure a match;

receive an identifier, the identifier being embedded in a code provided by the mobile device, wherein the code is provided as a two dimensional image, wherein the code further comprises a token generated by a computer system of the financial institution and provided to the mobile device, and wherein the token is a sixteen digit number that is provided to the merchant;

and transmit an indication that the transaction has been completed, the transaction being completed based on the identifier and based on the match of the first and second location.

8. The system of claim 7, wherein comparing the first and second location to ensure the match comprises ensuring the first and second location are within a predetermined distance of each other.

9. The system of claim 7, wherein the processor is further configured to transfer funds to the merchant from a checking account of the user.

10. The system of claim 7, wherein the identifier is a unique identifier generated by the financial institution.

11. The system of claim 7, wherein the transaction is completed based on receiving approval for the transaction from the user.

12. The system of claim 7, wherein the processor is further configured to, upon comparing the first and second location to ensure a match and prior to receiving the identifier:

generate a transaction code for the transaction, wherein the transaction code is displayable on the mobile device and includes the identifier; and

transmit the transaction code to the mobile device.