Value transfer systems and methods

US7664703B2 · kind B2 · utility

Assignee

• The Western Union Company · US

Inventors

• Kurt Hansen · Castle Rock, US
• Dean Seifert · Parker, US
• Mark Thompson · Summerville, US
• Patricia A. Frazier · Dallas, US

Key dates

• Filing date: Jul 26, 2002
• Grant date: Feb 16, 2010
• Expiry date: Mar 29, 2026

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F19/203
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

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.