Consumer due diligence for money transfer systems and methods
First Claim
1. A method of transferring money from a sender to a recipient using a third party money transfer service, the method comprising:
- providing a point of sale device at a money transfer origination location in communication with a host computer system of a money transfer network;
receiving into the point of sale device transaction details for a requested money transfer by the sender, wherein the details include at least a sender name, a recipient name, and a transfer amount;
determining with the point of sale device whether the requested transaction is an allowable transaction, based on specific details of the requested transaction or based on an aggregation of the requested transaction by determining whether the aggregation of the requested transaction exceeds a predetermined aggregation threshold and based on the sender'"'"'s transaction history by determining whether a transaction pattern within the sender'"'"'s transaction history comprises unallowable transaction patterns;
in response to a determination that the transaction is not an allowable transaction, aborting the transaction; and
in response to a determination that the transaction is an allowable transaction;
attempting to identify the sender as an existing customer of the third party money transfer service using the transaction details, wherein existing customers have a unique customer identifier and transaction history, and wherein the unique customer identifier is not provided to the customer,creating a money transfer record for the requested transaction, the money transfer record including the unique customer identifier;
associating a money transfer control number to the money transfer record; and
using the money transfer control number to distribute the transfer amount to the recipient.
2 Assignments
0 Petitions
Accused Products
Abstract
A method of transferring money from a sender to a recipient using a third party money transfer service a point of sale device receiving transaction details for a requested money transfer; determining whether the requested transaction is an allowable transaction; and either aborting the transaction; attempting to identify the sender as an existing customer using the transaction details; using the sender'"'"'s transaction history and the transaction details to determine whether to allow the requested transaction to proceed. If the requested transaction is allowed to proceed, the method includes creating a money transfer record for the requested transaction; associating a money transfer control number to the money transfer record; and using the transaction details to determine whether to monitor the requested transaction.
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Citations
20 Claims
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1. A method of transferring money from a sender to a recipient using a third party money transfer service, the method comprising:
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providing a point of sale device at a money transfer origination location in communication with a host computer system of a money transfer network; receiving into the point of sale device transaction details for a requested money transfer by the sender, wherein the details include at least a sender name, a recipient name, and a transfer amount; determining with the point of sale device whether the requested transaction is an allowable transaction, based on specific details of the requested transaction or based on an aggregation of the requested transaction by determining whether the aggregation of the requested transaction exceeds a predetermined aggregation threshold and based on the sender'"'"'s transaction history by determining whether a transaction pattern within the sender'"'"'s transaction history comprises unallowable transaction patterns; in response to a determination that the transaction is not an allowable transaction, aborting the transaction; and in response to a determination that the transaction is an allowable transaction; attempting to identify the sender as an existing customer of the third party money transfer service using the transaction details, wherein existing customers have a unique customer identifier and transaction history, and wherein the unique customer identifier is not provided to the customer, creating a money transfer record for the requested transaction, the money transfer record including the unique customer identifier; associating a money transfer control number to the money transfer record; and using the money transfer control number to distribute the transfer amount to the recipient. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 16, 17, 18, 19, 20)
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9. A money transfer system for transferring money from a sender to a recipient using a third party money transfer service, the system comprising:
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a host computer system; and a plurality of point of sale devices at money transfer origination locations in communication with the host computer system; wherein each point of sale device is configured to; provide a point of sale device at a money transfer origination location in communication with a host computer system of a money transfer network; receive via the point of sale device transaction details for a requested money transfer by the sender, wherein the details include at least a sender name, a recipient name, and a transfer amount; determine with the point of sale device whether the requested transaction is an allowable transaction, based on specific details of the requested transaction or based on an aggregation of the requested transaction by determining whether the aggregation of the requested transaction exceeds a predetermined aggregation threshold and based on the sender'"'"'s transaction history by determining whether a transaction pattern within the sender'"'"'s transaction history comprises unallowable transaction patterns; and in response to determination that the transaction is an allowable transaction; attempt to identify the sender as an existing customer of the third party money transfer service using the transaction details, wherein existing customers have a unique customer identifier and transaction history, and wherein the unique customer identifier is not provided to the customer; create a money transfer record for the requested transaction, the money transfer record including the unique customer identifier; associate a money transfer control number to the money transfer record; and use the money transfer control number to distribute the transfer amount to the recipient; in response to an unsuccessful attempt to identify the sender as an existing customer of the third party money transfer service using the transaction details; display a prompt on the point of sale device that additional information is required; receive the additional information into the point of sale device; and attempt to identify the sender as an existing customer of the third party money transfer service using the transaction details and the additional information. - View Dependent Claims (10, 11, 12, 13, 14)
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15. A non-transitory computer-readable medium for transferring money from a sender to a recipient using a third party money transfer service, having sets of instructions stored thereon which, when executed by a computer, cause the computer to:
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receive through a point of sale device at a money transfer origination location in communication with a host computer system of a money transfer network; transaction details for a requested money transfer by the sender, wherein the details include at least a sender name, a recipient name, and a transfer amount; determine with the point of sale device whether the requested transaction is an allowable transaction, based on specific details of the requested transaction or based on an aggregation of the requested transaction by determining whether the aggregation of the requested transaction exceeds a predetermined aggregation threshold and based on the sender'"'"'s transaction history by determining whether a transaction pattern within the sender'"'"'s transaction history comprises unallowable transaction patterns; in response to a determination that the transaction is an allowable transaction; attempt to identify the sender as an existing customer of the third party money transfer service using the transaction details, wherein existing customers have a unique customer identifier and transaction history, and wherein the unique customer identifier is not provided to the customer; create a money transfer record for the requested transaction, the money transfer record including the unique customer identifier; associate a money transfer control number to the money transfer record; and use the money transfer control number to distribute the transfer amount to the recipient; and in response to an unsuccessful attempt to identify the sender an existing customer of the third party money transfer service using the transaction details or the transaction details and additional information; assign a unique customer identifier to the sender; allow the transaction to proceed; and store at least a portion of the transaction details and at least a portion of the additional information as transaction history in a record with the sender'"'"'s unique customer identifier.
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Specification