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Money transfer smart phone methods and systems

  • US 9,659,293 B2
  • Filed: 05/15/2013
  • Issued: 05/23/2017
  • Est. Priority Date: 04/08/2010
  • Status: Active Grant
First Claim
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1. A method of transferring funds between mobile devices, the method comprising:

  • establishing a first funds transfer account associated with a first mobile device and a second funds transfer account associated with a second mobile device;

    funding at least the first funds transfer account;

    selecting the second mobile device as recipient of a funds transfer from the first mobile device, wherein selecting the second mobile device as the recipient of the funds transfer comprises;

    receiving an initiation of a device-to-device funds transfer mobile application on the first mobile device;

    in response to the initiation of the device-to-device funds transfer mobile application on the first mobile device, providing an interface on the first mobile device including a potential recipient list;

    determining a set of compatible mobile devices within a predetermined distance of the first mobile device, onto which the device-to-device funds transfer mobile application is also installed, in response to the initiation of the device-to-device funds transfer mobile application on the first mobile device;

    populating the potential recipient list displayed via the interface on the first mobile device with;

    one or more potential recipients retrieved from a contact list stored on the first mobile device, one or more potential recipients retrieved from a transfer history list associated with the first mobile device, and one or more potential recipients based on the determined set of compatible mobile devices within the predetermined distance of the first mobile device; and

    receiving a user selection of the second mobile device from the potential recipient list, as the recipient of the funds transfer from the first mobile device;

    establishing a communications link between the first mobile device and the second mobile device, wherein establishing the communications link comprises;

    determining whether the first mobile device is in the vicinity of the second mobile device;

    upon determining that the first mobile device is in the vicinity of the second mobile device, sending a direct near field communications link request from the first mobile device to the second mobile device; and

    in response to an acceptance, establishing a direct communications link between the first mobile device and the second mobile device;

    initiating, via the device-to-device funds transfer mobile application, a funds transfer from the first mobile device to the second mobile device, wherein an amount of the funds transfer is designated at the first mobile device; and

    transferring the amount to the second funds transfer account associated with second mobile device.

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