System and method for processing a virtual money order
US11282046B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 25, 2020 |
| Grant date | Mar 22, 2022 |
| Priority date | — |
| Expiry date | Mar 25, 2040 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40145
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of processing a virtual money order transaction includes establishing an account for a first user having a first user device and receiving from a second user device, a virtual money order purchase request identifying the first user as a payee, an amount, and payment information. A transfer of a payment amount from a second user account to a transaction processor account is processed and a virtual money order is generated with associated information accessible at a network address. A notification including the network address is transmitted to the first user device and a request to receive the money order information is received via the network address. Responsive to verification that the requester is authorized, the information is transmitted to the first user device. A redemption request is received and a transfer of the money order amount from the transaction data account to the redemption requester is processed.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.