System and method for a mobile wallet

US10169756B1 · kind B1 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Stephen M. Ellis · San Francisco, US
• Michael J. Kennedy · San Francisco, US
• Ashish B. Kurani · Hillsborough, US
• Melissa Lowry · San Francisco, US
• Uma Meyyappan · Fremont, US
• Bipin Sahni · Pleasanton, US
• Nikolai Stroke · Gilbert, US

Key dates

• Filing date: Dec 30, 2016
• Grant date: Jan 1, 2019
• Expiry date: Dec 30, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented system and method includes receiving a first geographic location of a mobile device when a mobile wallet transaction is initiated, receiving a second geographic location of the mobile device after the mobile wallet transaction is initiated, comparing the first and second geographic locations to ensure a match, permitting the mobile device to process the mobile wallet transaction upon determining that the first and second geographic locations of the mobile device are within a predefined distance of each other, and transferring funds to a merchant after verifying that the second geographic location of the mobile device is within a predetermined distance of a location of the merchant.