500 results about "Money transfer" patented technology

A technique is used to ensure the authenticity of a wireless transmission source which is requesting a transaction to be performed by a system. The transaction may be a person-to-person money transfer or other value exchange transaction. The wireless transmission source may be a mobile phone or other similar device. The wireless transmission source transmits a key with the transaction request. The system will determine the authenticity of the transmission based on the transmitted key. If the transmission is determined to be authentic, the transaction will be acted upon. Various approaches for determining authenticity are discussed. The technique may also be used to prevent acting upon duplicate transmissions.

A payment resolution module is configured to communicate with hand-held devices (such as mobile phones, PDA's, or computers) to allow secure transfer of funds between financial accounts associated with each of the hand-held devices. A user of a paying device may be identified as the owner of the device either by having the option to enter a personal identification code, or by using a biometric to identify himself, for example. Accordingly, only an authorized user of the hand-held device may use the hand-held device to transfer funds. A user of the recipient device may be identified by an identification code or a telephone number, for example, which is associated with a recipient financial account. After the payment resolution module receives authorization for a payment request to the recipient account, a payment transfer module transmits the requested amount from a payment source associated with the identified owner of the paying device to the recipient account.

A method of performing a send money transfer transaction through a financial services institution includes storing transaction details on a data base, wherein the transaction details include a desired amount of money to be sent; establishing a code that corresponds to the transaction details stored on the data base; entering the code into an electronic transaction fulfillment device in communication with the data base to retrieve the transaction details from the data base; and determining a collect amount based on the transaction details. A system for performing a send money transfer transaction is also disclosed.

A electronic monetary system comprising a mobile communication unit as an electronic wallet for transactions including electronic payments, money transfer, and recharging the electronic account. The security of the electronic transactions is confirmed by circulating a confirmation number through a loop formed by an E-wallet managing server through the wireless network to the mobile communication unit of the user.

According to the invention, a method for processing a transaction where the transaction is initiated by a payor online, but paid to a payee in-person, is disclosed. In one step, payor information is accepted at a location that located across a wide area network from the payor. Transaction information and payment source information is also accepted at the location. The transaction information includes an amount and a payee identifier and the payment source information includes account details associated with an account of the payor at a money handler. A risk related to a likelihood that the transaction will complete successfully is evaluated. Validating that the payment source information is associated with the payor is manually performed if the risk is excessive. The risk can generally be reduced by the manual validation. The money handler is billed for at least the amount. It is determined if the money handler settles the amount. Historical information on the transaction is stored.

A method of performing money transfer send transactions begins with receiving registration information from a customer, including customer identification and qualification information and payment source identification and performing verification of at least a portion of the identification and qualification information and the payment source identification and upon sufficient verification building a distribution profile. The method proceeds by receiving from the customer and storing in the distribution profile send transaction specifications for staging each of one or more proposed send transactions, and receiving a send initiation instruction with associated customer authentication data and responsive thereto identifying a distribution profile and at least one send transaction specification to be executed. Responsive to the send initiation instruction, the method verifies the authentication data and the current status of the payment source identified in the distribution profile and upon sufficient verification, initiates a send transaction according to the at least one send transaction specification.

One method involves payment of money to a recipient traveling to one or more foreign countries by entering into a remote computer money transfer information from a sender. The money transfer information comprises recipient identification information, at least one country where the money is to be received, and a payment amount in an originating currency. The money transfer information is transmitted to a host computer system. When ready to receive payment in the designated country, recipient identification information along with a request to withdraw a portion of a possible payment amount is entered into a payout computer. The recipient identification information and the request to withdraw is transmitted to a host computer system, and the requested withdrawal is provided to the recipient in the local currency.

A system and method for facilitating money transfer from a primary account holder to one or more partner accounts. The primary account holder uses a self-service terminal, which displays information on each of several related partner accounts. The displayed partner account information permits the selection of the partner account into which money is to be transferred.

An identification information transmission pathway is separated from a system side to be performed by a mobile authorization means of an owner of a security module in a wireless way. To this end, the security module comprises two interfaces, i.e. one for a communication with a terminal and a further one for wirelessly communicating with the mobile authorization means. The mobile authorization means supplies identification information to the security module for an authentication examination at its part, either stored in the authorization means in a memory or otherwise generated there, like e.g. via biometric sensors, via a keyboard or the like. The security module, performing the examination of the identification information, like e.g. preferably via a zero knowledge method or a zero knowledge protocol, respectively, only then indicates a request for an action at the terminal, like e.g. of a money transfer, when the examination is successful.

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.

The Account Receivables System's Remittance Processing Module accepts funds in domestic and foreign currency and translates the funds into the required local currency for reporting purposes. The Remittance Processing Modules automatically generates and also performs exchange gain and loss calculations Auto Draft and Reverse Application functions. The Remittance Processing Module accepts funds electronically, and, under certain conditions, automatically applies and updates a customer's account in the most efficient manner.

A money transfer system transfers money based on approval of a sender for a transfer request transmitted from a receiver. This system includes a receiver terminal for transferring transfer request information including receiving information and sending information; a bank server for extracting the sending information from the transfer request information to guide the transfer request information to a sender, and transferring an amount of money from a payment account of the sender to a deposit account when the sender checks the transfer request information and approves the money transfer; and a sender terminal for accessing the bank server to receive and display the transfer request information, and transmitting an approval for the money transfer to the deposit account. The sender determines whether or not to transfer money by checking the transfer request of the receiver, thereby reducing time taken for the money transfer process and enhancing accuracy and safety.

The method for calculating a game fee depending on victory or defeat of a user in a gambling game played through at least two client PCs connected in one or more networks in which a plurality of client PCs are connected to one management server computer, includes the steps of opening a real account and a corresponding virtual account, processing game among gamers, calculating a game fee depending on victory or defeat of each gamer, transferring money from a virtual account of winner to a virtual account of loser, checking a breakdown of the real account with the balance of the virtual account, and instructing money transfer between the real accounts based on the breakdown.

Various systems and methods are described for conducting and staging money transfer transactions from a vehicle. The systems and methods may include using a wireless transmitter on board the vehicle for wirelessly communicating with a money transfer system. Also, a user-input device integrated with the vehicle's navigation system, entertainment system, and/or climate system may be used. Using the wireless transmitter, the user-input device may interface with the money transfer system. Also, one or more identity authentication devices may be integrated with the vehicle that collect information to authenticate a user's identity.

The invention discloses a money transferring method based on a block chain. The method comprises the following steps of traversing a received transaction queue of a block to reach a consensus, and judging whether currently traversed transactions meet a parallel execution condition; if the transactions meet the parallel execution condition, executing the transactions in parallel, and otherwise, executing the same serially; when all transactions in the block transaction queue is completely executed, generating a Hash value of the block to be shared and broadcasting the same in a block chain network, so as to reach the consensus with other nodes in the block chain network; and when the consensus is achieved with the other nodes in the block chain network, recording transaction execution results of all transactions in the block to reach the consensus into a block chain. The invention also discloses a money transferring device based on the block chain and a computer readable storage medium.According to the method, device and medium provided by the invention, the concurrent execution of the multiple transactions in the block chain is achieved, and thus the money transferring efficiencyis enhanced.

Methods and systems for redirecting the funds in a money transfer transaction are provided. The redirection of funds can be accomplished through a money redirection system. The redirection process can be initiated through a request from a recipient of the funds to change the destination of the money transfer from an intended destination to a new destination. The recipient can provide the money redirection system with a transaction identifier and with recipient identification information so that the money redirection system can verify that the recipient making the money redirection request is the recipient associated with the money transfer. After the money redirection system has verified the identity of the recipient, the money redirection system can direct a money transfer facilitator to redirect the funds.