Method and system for managing monetary value on a mobile device

• US 7,819,307 B2
• Filed: 10/27/2005
• Issued: 10/26/2010
• Est. Priority Date: 10/27/2005
• Status: Active Grant

• Current Assignee: Ent Services Development Corporation LP (DXC Technology Company)
• Original Assignee: Hewlett-Packard Development Company, L.P. (HP Inc.)
• Inventors: Lyons, Robert E., Murthy, Rama Chandra D. S.
• Primary Examiner(s): ST CYR, DANIEL
• Application Number:
  US11/260,061
• Publication Number:
  US 20070095892A1
• Time in Patent Office: 1,825 Days
• Field of Search: 235/379, 235/380, 235/382
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation

Abstract

Aspects of the present invention feature a method of managing a monetary value stored in an electronic wallet of a mobile device. These management operations include receiving an indication that the mobile device from a mobile device account of a mobile device carrier cannot be located and is either lost or stolen. Subsequently, a determination is made to see if the mobile device has an associated electronic wallet capable of storing a monetary value. Generally, the use of mobile device and access to electronic wallet is blocked in response to determination that mobile device has an associated electronic wallet. In addition, the electronic wallet can be flagged such that the electronic wallet associated with mobile device will be drained of monetary value as well as being blocked.

Claims

1. A method for associating a monetary value with a mobile device, comprising:

receiving a request to store a monetary value into an electronic wallet of a mobile device having a mobile identifier;

denying a request to store the monetary value into the electronic wallet of a mobile device when the electronic wallet of the mobile device has been flagged as blocked;

determining if the mobile identifier assigned to the mobile device is associated with a bank account from a financial institution in addition to a mobile device account of a mobile device carrier;

transferring monetary value from the bank account to the mobile device account of the mobile device carrier in response to the determination and provided the bank account contains at least sufficient funds to fulfill the request for the monetary value; and

storing the monetary value requested to the electronic wallet of the mobile device having the mobile identifier.

2. The method of claim 1 further comprising sending a message to the device if the bank account does not contain sufficient funds to transfer the requested monetary value to the device.

3. The method of claim 1 further comprising charging the mobile device account corresponding to the monetary value requested when the bank account does not contain sufficient funds to transfer the requested monetary value to the device.

4. The method of claim 1 wherein the request to store a monetary value further comprises:

identifying a source currency according to a default setting in the mobile device account;

determining if the source currency for the mobile device account is different from a requested target currency;

converting the source currency into the target currency for the electronic wallet of the mobile device using a conversion table; and

revising the monetary value requested based upon the conversion between the source currency and target currency indicated in the conversion table.

5. The method of claim 1 wherein the mobile identifier includes an electronic serial number (ESN) assigned to the mobile device at the time of manufacture.

6. The method of claim 1 wherein a mobile carrier for the mobile device is provided authorization to access the bank account and the mobile device account upon receipt of a matching personal identification number (PIN).

7. The method of claim 1 wherein the mobile identifier includes an RFIO, obtained from an RFID tag associated with the mobile device.

8. The method of claim 1 wherein the charge to the mobile device account is limited by a credit line granted by a mobile carrier for the mobile device.

9. The method of claim 1 wherein the mobile device communicates using one or more protocols selected from a set of protocols including:

Bluetooth, RFID, near-field communication (NFC), infra-red, and other wireless communication mediums.

10. A method of managing a monetary value stored in an electronic wallet of a mobile device, comprising:

receiving an indication that the mobile device from a mobile device account of a mobile device carrier cannot be located;

determining if the mobile device has an associated electronic wallet capable of storing monetary value; and

blocking use of mobile device and access to electronic wallet in response to determination that mobile device has an associated electronic wallet.

11. The method of claim 10 further comprising:

flagging the electronic wallet associated with mobile device to be drained of monetary value.

12. The method of claim 10 wherein a mobile carrier for the mobile device is provided authorization to manage the monetary value associated with the electronic wallet upon receipt of a personal identification number (PIN) associated with the mobile device account.

13. The method of claim 10 wherein the authorization to manage the monetary value is further dependant upon receiving an electronic serial number (ESN) assigned to the mobile device at the time of manufacture.

14. The method of claim 10 further comprising,

indicating the monetary value to be drained from the electronic wallet should be transferred to another electronic wallet on a second mobile device designated as a replacement for the mobile device that cannot be located.

15. The method of claim 10 further comprising,

indicating that the monetary value to be drained from the electronic wallet should be held in the mobile device account until a second mobile device and another electronic wallet can be designated as a replacement for the mobile device that cannot be located.

16. The method of claim 10 further comprising,

indicating the monetary value to be drained from the electronic wallet should be returned to a bank account from a financial institution.

17. A method of transacting a monetary value stored in an electronic wallet, comprising:

identifying a mobile device on a mobile device network according to a mobile identifier associated with the mobile device;

determining if the mobile device on the mobile device network has an electronic wallet to be drained of monetary value;

draining a monetary value from the mobile device in response to the determination by removing a predetermined amount of monetary value from the electronic wallet associated with the mobile device; and

providing the monetary value to a recipient, wherein the providing further includes identifying a location of the mobile device and a corresponding target currency used in the locale;

determining if a source currency in the electronic wallet of the mobile device is the same as the target currency in the locale;

converting the source currency into the target currency through a conversion table in an amount corresponding to the requested monetary value; and

authorizing the requested monetary value from the electronic wallet in the target currency for the transaction.

18. The method of claim 17 further comprising:

comparing a requested monetary value requested for a transaction with available monetary value in electronic wallet of the mobile device; and

performing the providing of the monetary value to the recipient as requested when the electronic wallet has available monetary value.

19. The method of claim 17 wherein the mobile identifier is received when the mobile device is turned on and registered on the mobile device network.

20. The method of claim 17 wherein the mobile identifier includes an electronic serial number (ESN) assigned to the mobile device at the time of manufacture.

21. The method of claim 17 wherein the mobile device provides authorization to transfer the requested monetary value for the transaction upon receipt of a personal identification number (PIN) associated with the electronic wallet.

22. A computer program product for associating a monetary value with a mobile device, tangibly stored on a computer readable medium, comprising instructions operable to cause a programmable processor to:

receiving a request to store a monetary value into an electronic wallet of a mobile device having a mobile identifier;

denying a request to store the monetary value into the electronic wallet of a mobile device when the electronic wallet of the mobile device has been flagged as blocked;

determining if the mobile identifier assigned to the mobile device is associated with a bank account from a financial institution in addition to a mobile device account of a mobile device carrier;

transferring monetary value from the bank account to the mobile device account of the mobile device carrier in response to the determination and provided the bank account contains at least sufficient funds to fulfill the request for the monetary value; and

storing the monetary value requested to the electronic wallet of the mobile device having the mobile identifier.

23. A computer program product for managing a monetary value stored in an electronic wallet of a mobile device, tangibly stored on a computer readable medium, comprising instructions operable to cause a programmable processor to:

receiving an indication that the mobile device from a mobile device account of a mobile device carrier cannot be located;

determining if the mobile device has an associated electronic wallet capable of storing monetary value; and

blocking use of mobile device and access to electronic wallet in response to determination that mobile device has an associated electronic wallet.

24. A computer program product for transacting a monetary value stored in an electronic wallet, tangibly stored on a computer readable medium, comprising instructions operable to cause a programmable processor to:

identifying a mobile device on a mobile device network according to a mobile identifier associated with the mobile device;

determining if the mobile device on the mobile device network has an electronic wallet to be drained of monetary value;

draining a monetary value from the mobile device in response to the determination by removing a predetermined amount of monetary value from the electronic wallet associated with the mobile device; and

providing the monetary value to a recipient, wherein the providing further includes identifying a location of the mobile device and a corresponding target currency used in the locale;

determining if a source currency in the electronic wallet of the mobile device is the same as the target currency in the locale;

converting the source currency into the target currency through a conversion table in an amount corresponding to the requested monetary value; and

authorizing the requested monetary value from the electronic wallet in the target currency for the transaction.