Value transfer systems and methods

• US 20030130940A1
• Filed: 07/26/2002
• Published: 07/10/2003
• Est. Priority Date: 10/26/1999
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Thompson, Mark, Seifert, Dean A., Hansen, Kurt, Frazier, Patricia A.
• Granted Patent: US 7,664,703 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass
• CPC Class Codes: G07F 19/00 Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines data processing equipment for bank accounting G06Q40/02
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

One method involves the use of stored value account that may be used, for example, to make internet payments, and that can be credited using a variety of payment techniques. Such a method involves receiving money at a money transfer location from a potential purchaser. The money is then stored as an electronic record in a stored value account of the purchaser. This money is then available for transfer at the request of the purchaser. Upon such a request, the money may be electronically sent to a recipient and the stored value account may be debited.

Claims

1. A method for facilitating the transfer of value, the method comprising:

receiving at a host computer system from a remote computer a request from a sender to transfer value;

transmitting from the host computer system a computer readable document requesting information on the requested transfer;

receiving the requested information at the host computer system;

determining with the host computer system one or more options for transferring the value based on the received information regarding the transfer; and

transmitting from the host computer system a computer readable document containing at least one of the options.

2. A method as in claim 1, wherein the requested information on the transfer comprises personal information about a recipient of the value.

3. A method as in claim 1, wherein the requested information on the transfer comprises value receiving interfaces available to a recipient of the value.

4. A method as in claim 1, wherein the requested information on the transfer comprises pick-up locations available to the recipient of the value.

5. A method as in claim 1, wherein the requested information includes information on a payment instrument, and further comprising evaluating the information on the payment instrument to authorize a withdrawal of funds from an account associated with the payment instrument.

6. A method as in claim 1, wherein the request to transfer value comprises a request to pay an amount due, and wherein the options for transferring the value are selected from a group consisting of real time guaranteed payments, credit card payments, debit payments, PIN-less debit payments, and ACH payments.

7. A method as in claim 1, wherein the options for transferring the value are selected from a group consisting of a transfer to a money handling location, a transfer to a financial kiosk, a transfer to a cash dispensing machine, a transfer to a financial account, a transfer by way of a negotiable instrument and a transfer to a stored value card.

8. A method as in claim 1, further comprising transmitting from the host computer system a computer readable document containing a list of all possible options for transferring the value.

9. A method as in claim 1, further comprising transmitting from the host computer system a computer readable document containing a list of fees associated with the options for transferring the value.

10. A method as in claim 1, further comprising receiving at the host computer system a selection of one of the options and effectuating the transfer based on the selected option.

11. A system to facilitate the transfer of value, comprising:

a host computer system having an input interface, an output interface, and a rules engine that is configured to determine one or more options for transferring value from a sender based on information from the sender received at the input interface which relates to the requested transfer, and to transmit a computer readable document from the output interface having the determined options.

12. A system as in claim 11, wherein the host computer system is further configured to receive information on a payment instrument, and to transmit an authorization request to withdraw funds from an account associated with the payment instrument.

13. A system as in claim 12, wherein the host computer system is further configured to transmit a request to withdraw the funds from the account upon receipt of a selection of one of the options.

14. A system as in claim 11, wherein the host computer system is further configured to transmit a list of fees associated with the options.

15. A method for transferring value, the method comprising:

receiving at a host computer system a request to transfer value to multiple recipients along with one or more restrictions about how the value may be received by the recipients;

receiving a request at the host computer system to provide the value to one or more of the receipts;

determining with the host computer system the manner of the transfer based on the restriction.

16. A method as in claim 15, further comprising effectuating the transfer based on the restriction.

17. A method as in claim 16, wherein the transfer is effectuated by transmitting a computer readable document from the host computer system giving instructions on how to pay out the value.

18. A method as in claim 15, further comprising receiving at the host computer system information on how the value was provided to the recipients.

19. A method as in claim 15, wherein the restriction comprises a portion of the value to be provided to each recipient.

20. A method as in claim 15, wherein the restriction comprises a time limit for when the value may be received.

21. A method as in claim 16, wherein the restriction comprises a designation as to the form of value.

22. A method as in claim 15, wherein the restriction comprises a designation as to which of the recipients must be present when receiving the value.

23. A value transfer system comprising;

a host computer system having an input interface, an output interface, and a rules engine, wherein the input interface is configured to receive a request to transfer value to multiple recipients along with one or more restrictions about how the value may be received by the recipients, and to receive a request to provide the value to one or more of the receipts, and wherein the rules engine is configured to determine the manner of the transfer based on the restriction.

24. A method for paying for goods or services using a network, the method comprising:

providing a money transfer system with account information on a payee;

placing at least one restriction on transfers into the account from one or more payors, and storing the restriction in the money transfer system;

receiving a cash payment at a money transfer location from at least one payor, wherein the cash payment is to pay for a good or service offered by the payee;

sending a record to the money transfer system over a network indicating that the cash payment has been made; and

transferring funds to the account of the payee over a network based on the cash payment using the money transfer system.

25. A method as in claim 24, wherein the restrictions are selected from a group consisting of the number of allowed transfers into the account of the payee, a time period for making transfers into the account of the payee, and the amount of each transfer into the account of the payee.

26. A method as in claim 24, wherein the funds are transferred using an ACH transfer.

27. A method as in claim 24, further comprising transmitting a record of payment to the payee from the money transfer system.

28. A method as in claim 27, further comprising shipping an item from the payee to the payor after receipt of the record of payment.

29. A method as in claim 25, further comprising collecting a transaction fee along with the payment.