Money transfer service with authentication
US8016185B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Aug 26, 2004 |
| Grant date | Sep 13, 2011 |
| Priority date | — |
| Expiry date | Mar 18, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A bank (or merchant) hosts and operates an online money transfer service (or “portal”). A sender logs into the portal and enters payment card and money transfer details and then submits the transaction. An authentication window appears displaying the sender's transaction details and the sender is prompted to enter his or her password. Upon successful authentication, the bank seeks authorization from the card issuer. Upon successful authorization, the bank credits the recipient's local bank account or existing payment card. The recipient can also receive a check, a draft, a prepaid card or cash. The money transfer service is used both cross-border and domestic to effect person-to-person money transfer. The money transfer service uses the “Verified by Visa” authentication service and VisaNet for authorization. Messages over VisaNet are used to deliver funds to a recipient.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.