Requestor-based funds transfer system and methods

US10558957B2 · kind B2 · utility

Assignee

• The Western Union Company · US

Inventors

• Aamer Ali Baig · Elmont, US
• James E. Cowell · Littleton, US
• Peter M. Karas · Lakewood, US
• Cheryl L. Neofytides · Floral Park, US
• Matthew F. Golub · Atlanta, US
• James R. Yoder · Chicago, US
• Susan M. Milberger · Englewood, US
• Jeff D. Sherrard · Lakewood, US
• Amy M. Dunker · Dallas, US
• Jackie M. Macfarlane · Parker, US
• Eric L. Platte · Castle Rock, US
• Susan F. Abrahams · Atlanta, US

Key dates

• Filing date: Feb 22, 2013
• Grant date: Feb 11, 2020
• Expiry date: Jun 28, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

According to the invention, transferring money using a computer network is disclosed. In one step, information is saved on credit received for a first user (110) in a stored value account on a server computer system (170). At the server computer system (170), a request from the first user (110) to send money to a second user (130) based on the stored value account is received. An electronic notification is sent from the server computer (170) to the second user (130) to notify the second user (130) of the request. A debit in the stored value account of the first user (110) is created. The requested money is sent to the second user (130) upon a receipt of a request at the server computer (170) from the second user (130).