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

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Dunwoody, Kimberly
• Primary Examiner(s): Patel, Jagdish
• Application Number:
  US13/894,436
• Publication Number:
  US 20130254103A1
• Time in Patent Office: 1,469 Days
• Field of Search: 705 39, 705 41, 705 42
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/381 Currency conversion
• 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 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

Abstract

A method includes establishing a first funds transfer account associated with a first device and a second funds transfer account with a second device, funding at least the first fund account, and selecting the second device as the recipient of a funds transfer from the first device. The method further includes sending a communications link request from the first device to the second device and receiving acceptance of the communications link request from the second device. The method then establishes a communications link between the first device and the second device, initiates a funds transfer from the first device to the second device, wherein the amount is designated at the first device, and verifies the funds transfer amount, the first funds transfer account, and the second funds transfer account. Then, the method transfers the amount to the second funds transfer account associated with second device.

Claims

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.

2. The method of transferring funds between mobile devices as in claim 1, wherein the first funds transfer account and the second funds transfer account each have an associated funding or balance limit.

3. The method of transferring funds between mobile devices as in claim 2, further comprising:

presenting a plurality of fund retrieval options at the second mobile device;

receiving a selection of the plurality of fund retrieval options; and

transferring the funds to the selected fund retrieval option.

4. The method of transferring funds between mobile devices as in claim 3, further comprising, based on the transfer of the funds, updating the second funds transfer account funding or balance limit.

5. The method of transferring funds between mobile devices as in claim 1, wherein the mobile device comprises one or more of the following:

a Smartphone, a personal digital assistant (PDA), a mobile computer, a kiosk, and an automated teller machine (ATM).

6. The method of transferring funds between mobile devices as in claim 1, further comprising:

displaying on a display screen of the second device the direct near field communications link request; and

receiving acceptance of the communications link request from the second mobile device.

7. The method of transferring funds between mobile devices as in claim 1, further comprising verifying, by a processing center, the funds transfer amount, the first funds transfer account, and the second funds transfer account.

8. The method of claim 1, wherein the initiating of the funds transfer from the first mobile device to the second mobile device comprises:

graphically representing a wallet to include bills and coins in a plurality of denominations which reflect an amount of funds stored within the first funds transfer account and available for use on the first mobile device; and

receiving input at the first mobile device which includes dragging and sliding the bills and the coins from the wallet over to the second mobile device in the amount of the funds transfer.

9. The method of claim 1, further comprising:

prior to initiating the funds transfer from the first mobile device to the second mobile device, performing a first authentication process on a user of the first mobile device and a separate second authentication process on the first mobile device.

10. The method of claim 9, wherein the first authentication process comprises a secure login via the device-to-device funds transfer mobile application executing on the first mobile device, and wherein the second authentication process comprises verifying at least one of a MAC address of the first mobile device or SIM information of the first mobile device.

11. The method of transferring funds between mobile devices as in claim 1, wherein the user selection made via the interface on the first mobile device selects multiple recipients from the potential recipient list as recipients of the funds transfer.

12. The method of transferring funds between mobile devices as in claim 1, further comprising:

in response to the initiation of the device-to-device funds transfer mobile application on the first mobile device, providing a second interface on the first mobile device including a potential funding accounts list comprising a plurality of funded accounts associated with the first mobile device;

receiving a user selection of multiple accounts from the potential funding accounts list displayed via the second interface on the first mobile device; and

funding the funds transfer from the first mobile device to the second mobile device using the multiple accounts selected via the second interface.

13. The method of transferring funds between mobile devices as in claim 12, wherein the potential funding accounts list displayed via the second interface on the first mobile device includes a first account corresponding to a financial account of a financial institution, and a second account associated with the device-to-device funds transfer mobile application on the first mobile device.

14. 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, wherein the first funds transfer account is associated with a utilities account for a utility company;

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, wherein the second mobile device is controlled by the utility company; 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 wherein the initiating of the funds transfer from the first mobile device to the second mobile device comprises;

graphically representing a wallet to include bills and coins in a plurality of denominations which reflect an amount of funds stored within the first funds transfer account and available for use on the first mobile device, and

receiving input at the first mobile device which includes dragging and sliding the bills and the coins from the wallet over to the second mobile device in the amount of the funds transfer; and

in response to receiving the input, transferring the amount to the second funds transfer account associated with second mobile device.

15. A non-transitory computer-readable medium having sets of instructions stored thereon which, when executed by a computer, cause the computer to:

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

fund at least the first funds transfer account;

select 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;

establish a direct 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;

initiate, 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

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

16. The non-transitory computer-readable medium as in claim 15, wherein the first funds transfer account and the second funds transfer account each have an associated funding or balance limit.

17. The non-transitory computer-readable medium of claim 15, wherein the initiating of the funds transfer from the first mobile device to the second mobile device comprises:

graphically representing a wallet to include bills and coins in a plurality of denominations which reflect an amount of funds stored within the first funds transfer account and available for use on the first mobile device; and

receiving input at the first mobile device which includes dragging and sliding the bills and the coins from the wallet over to the second mobile device in the amount of the funds transfer.

18. The non-transitory computer-readable medium of claim 15, further comprising:

prior to initiating the funds transfer from the first mobile device to the second mobile device, performing a first authentication process on a user of the first mobile device and a separate second authentication process on the first mobile device.

19. The non-transitory computer-readable medium of claim 18, wherein the first authentication process comprises a secure login via the device-to-device funds transfer mobile application executing on the first mobile device, and wherein the second authentication process comprises verifying at least one of a MAC address of the first mobile device or SIM information of the first mobile device.