WO2008027621A1 - Mobile person-to-person payment system - Google Patents
Mobile person-to-person payment system Download PDFInfo
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- WO2008027621A1 WO2008027621A1 PCT/US2007/065725 US2007065725W WO2008027621A1 WO 2008027621 A1 WO2008027621 A1 WO 2008027621A1 US 2007065725 W US2007065725 W US 2007065725W WO 2008027621 A1 WO2008027621 A1 WO 2008027621A1
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- account
- transaction
- payment
- mobile
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- G06Q20/00—Payment architectures, schemes or protocols
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- G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
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- H—ELECTRICITY
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Definitions
- Embodiments of the present invention relate generally to electronic currency transfer systems, and more particularly relate to currency transfer systems operating substantially in real time and capable of person-to-person and person-to-merchant currency transfers.
- Embodiments of the payment system of the present invention are particularly adaptable to implementations wherein a wireless device, such as a cellular phone, is one of the consumer interfaces for effectuating such currency transfers.
- a wireless device such as a cellular phone
- Credit cards also have significant limitations.
- a credit card indicates that the holder has been granted a line of credit from a bank or other issuer and it enables the holder to make purchases or withdraw cash up to a prearranged amount.
- Interest is charged based on the terms of the credit card agreement and the holder is sometimes charged an annual fee.
- a plastic card bearing an account number is assigned to the holder.
- FIG. 34 shows an example of a proprietary network includes a point-of-sale (POS) terminal 3401 to initiate transactions at a merchant's location and a payment processor 3402 connected with the POS terminal 3401 by a proprietary network 3403.
- POS point-of-sale
- the proprietary network is nothing more than a connection to the Internet.
- Payment processor 3402 is, in turn, connected by a proprietary network 3404 to a credit card interchange 3408.
- a consumer presents a credit card 3406, or alternatively an RFID key fob 3407, at the POS terminal.
- An RFID key fob is a type of security token: a small hardware device with built-in storage mechanism.
- Both the credit card 3406 and key fob 3407 include encoded information that the POS terminal detects and forwards to transaction processor 3402 over the proprietary network 3403.
- the transaction processor 3402 submits the transaction to the credit card interchange (a network of financial entities that communicate to manage the processing, clearing, and settlement of credit card transactions) via private network 3404.
- the credit card interchange routes the transaction to the customer's credit card issuer 3409.
- the issuer identifies the consumer based on the detected account number and determines the available credit limit before either approving or declining the transaction. If the transaction is approved, the amount is forwarded to the merchant's bank processor 3405 over the credit card interchange with the amount being added to the credit account maintained by the bank for the merchant.
- the open loop credit card system is simply not adaptable to person-to-person transactions where one party is not a merchant. For example, if two students want to share the expenses for a pair of movie tickets, one student may wish to electronically transfer funds to the other student. In a credit card- based system, the interchange fee alone would make the transaction sufficiently expensive to discourage use. Further, it is unlikely that either student would agree to pay the monthly fee and other charges associated with a merchant's account in order to access the credit card interchange. Accordingly, the open-loop system deployed and operated by the credit card issuers is wholly ill suited for person-to- person financial transactions.
- the present invention substantially overcomes the aforementioned limitations of the prior art by providing a simple to use, easily accessible electronic payment system that permits the easy exchange of good funds for both peer-to-peer transactions and merchant-customer transactions without, in at least some embodiments, requiring the infrastructure and expense of a merchant banking system such as that associated with conventional credit and debit cards.
- the electronic payment system is accessible to the user over a wireless device such as a cell phone, so that funds can be transferred and their receipt verified substantially in real time, while at the same time providing adequate security to ensure that fraudulent transactions are minimized.
- a mobile payment platform and service provides a fast, easy way to make and verify payments by users of mobile devices.
- the platform also interfaces with nonmobile channels and devices such as e-mail, instant messenger, and Web.
- funds are accessed from an account holder's mobile device such as a mobile phone or a personal digital assistant to make or receive payments.
- Financial transactions may be conducted on a person-to-person (P2P) or person-to-merchant (P2M) basis where each party is identified by a unique indicator such as a telephone number, bar code, or any other suitable indicia.
- P2P person-to-person
- P2M person-to-merchant
- Transactions may be effected through any number of means including SMS messaging, Web, e-mail, instant messenger, a mobile client application, an instant messaging plug-in application or "widget.”
- a mobile client application resident on the mobile device, simplifies access and performing financial transactions in a fast, secure manner.
- the invention provides a mobile payment system (MPS) or mobile person-to-person payment system that allows fast and easy currency transfers.
- MPS mobile payment system
- an access device such as their cell phone
- users are able to send, request, and verify receipt of money, pay for services, pay for bills, pay for movie tickets, pay for groceries, pay a babysitter, pay for coffee and a newspaper, pay back a friend, split a dinner bill, send money to children, get money from parents, get quick or emergency cash, send emergency cash, pay up or collect on a friendly wager, pay for fantasy football, pay for gardening services, pay for association dues, track purchases, check the balance, and more.
- each of these transactions is effected substantially in real time, with good funds that are immediately available to the recipient.
- the present invention permits access to ATM networks, for example the NYCE network, to effect transactions.
- ATM networks for example the NYCE network
- the present invention addresses many of the aforementioned limitations of prior art financial instruments, including the following: Cash can be stolen and cash transactions are not traceable. Need to encourage cash to reside in banks rather than consumer's pockets. Need for low-cost or small-deposit cash storage. Need for low cost electronic payments. Need for electronic payments to be available to everyone, any-place, any-time and in near-real-time. Need for electronic payments to result in an instantly or near-instantly usable form of currency, such as, for example, a companion prepaid debit card , or through a link into a user's demand deposit account(DDA) at a bank. Need for electronic payments to be accessible to consumers with or without bank accounts.
- DDA demand deposit account
- MPS electronic payments encourage cash to stay in the bank instead of consumers' pockets.
- MPS electronic payments are safe and traceable.
- MPS electronic payments occur in near-real-time.
- MPS electronic payments are accessible to anyone, any time and any place.
- MPS can provide an optional or not required companion prepaid debit card (e.g., MasterCard, Visa, or other) for instant funds accessibility.
- MPS electronic payments can be leveraged for person-2-person (P2P) as well as person-2-merchant (P2M) transactions.
- MPS funds are stored within distributed pooled partner bank accounts.
- MPS facilitates manual or automated load functionality from existing financial instruments (e.g., credit, debit, other).
- MPS facilitates manual or automated unload functionality to existing financial instruments (e.g., credit, debit, other).
- MPS can optimize load or unload processing (i.e., performing load or unload within bank when possible).
- MPS facilitates electronic payments in a cross-bank manner.
- MPS facilitates electronic payments in a cross carrier or cross network manner.
- MPS facilitates electronic payments in a cross device or cross channel manner (i.e., mobile, e-mail, Web, instant messenger).
- MPS funds are electronic, PIN protected, and "live" in the bank.
- the closed-loop financial transaction system of the present invention is based, in part, on the use of a wireless device such as a cell phone or a PDA to make or receive payments.
- Financial transactions may be conducted on a person-to-person basis where each party is identified by a unique indicator such as a telephone number, e-mail address, instant messengerging identifier, or bar code or on a consumer-to-merchant basis.
- the invention is a financial transactions system including a consumer interface, connected to a network, including: a Web interface to handle transaction requests from a Web browser client; a mobile Internet browser interface to handle transaction requests from a mobile Internet browser on a mobile phone client; an SMS interface to handle transaction requests using SMS text messengerging; and a mobile client application interface to handle requests from a mobile client application executing on mobile phone client.
- the consumer interface can include an interactive voice response interface to handle requests from a telephone voice channel.
- An embodiment of the system can include a pooled account for newly registered users, where newly registered users may conduct transactions with registered users immediately after registration.
- the mobile client application interface can, in at least some embodiments, permit a "send money" transaction, a "request money” transaction, a "load account” transaction, an "unload account” transaction, and a "balance inquiry" transaction.
- the consumer interface may further include an instant messenger interface to handle requests from an instant messenger client.
- An embodiment of the system can include: a financial partner interface; a merchant interface, where users through the consumer interface can access their money at a bank connected to the system through the financial partner interface and transfer money to merchants connected to the merchant interface.
- An embodiment of the system includes a system of record managed by the financial transaction system, recording transaction executed through the consumer interface.
- the system can include a pooled account managed by the financial transaction system, where a number of the clients accessing the system through the consumer interface have an account in the pooled account. A number of the clients may not have an account in the pooled account but instead have an account at a financial institution, which has access to the system.
- the invention is a method including: providing an application program interface to conduct transactions with a first financial partner; providing an SMS messengerging interface to receive requests to conduct transactions; and providing a mobile client application interface to receive requests to conduct transactions, where through the SMS messenger interface or the mobile client interface, a client may request a transfer money from a first account at the first financial partner to a second account at the second financial partner.
- the method can further include providing an applications program interface to conduct transactions with a second financial partner, where through the SMS messenger interface or the mobile client interface, a client may request a transfer of money from an account at the first financial partner to an account at the second financial partner.
- the method can include providing a system of record to record transactions requested through the SMS messaging and mobile client interfaces.
- the invention is a method including the steps of: displaying a first screen on a display of a mobile phone to show a number of options including a first option to pay money to another and a second option to request balance information; upon a user selecting the first option, displaying a second screen where the user enters a target phone number or other indicia to which to send payment; after the user enters the target phone number, displaying a third screen where the user enters a transaction amount; after the user enters the phone number, displaying a fourth screen where the user enters a PIN code; and after the user enters the PIN code, wirelessly sending transaction information including the target phone number, transaction amount, and PIN code to a server for processing.
- the method can include the steps of, after the user enters the target phone number, displaying a fifth screen where the user enters an optional message.
- the method can include: upon the user selecting the second option, wirelessly sending a request for balance information to the server; receiving balance information from the server; and displaying the balance information in a fifth screen.
- the method can include where the first screen further provides a third option to request payment from another.
- the method may include where the second screen has a third option which upon selection by the user provides the user access to an address book from which the user may select an entry to use as the target phone number.
- the transaction information can include a sequence number generated by the mobile phone to authenticate a transaction. In an implementation, the electronic funds of the user are maintained at the server and not on the mobile phone.
- the method includes: upon receiving a request pay request at the mobile phone, displaying fifth screen where the user may enter a tip amount.
- Figure 1 shows a block diagram of a system of the invention.
- Figure 2 shows a software architecture for a specific embodiment of the invention.
- Figure 3 shows an environment for implementing an embodiment of the invention.
- Figure 4 shows an embodiment of the invention where value added services are provided in conjunction with payment services.
- Figure 5 shows a system topology for mobile person-to-person payments.
- Figure 6 shows an interbank person-to-person payment.
- Figure 7 shows a cross bank person-to-person payment.
- Figure 8 shows a linked account load.
- Figure 9 shows a linked account unload.
- Figure 10 shows a payment system and a person-to-person payment according to a technique of the invention.
- Figure 11 shows a method for performing a transaction between a member with a card and an unregistered user.
- Figure 12 shows a method for performing a transaction between a member without a card and an unregistered user.
- Figure 13 shows a method for performing a transaction between a no-card member and another no-card member.
- Figure 14 shows a method for performing a transaction between a carded member and another carded member.
- Figure 15 shows a method for performing a transaction between a carded member and a no-card member.
- Figure 16 shows a method for performing a transaction between a no-card member and a carded member.
- Figure 17 shows a method of registration for an unregistered user.
- Figure 18 shows a method of activating a card.
- Figure 19 shows overall system diagram of a specific embodiment of the invention.
- Figure 20 shows a person-to-person payment between two individual card accounts.
- Figure 21 shows a person-to-person payment between a card account and a nonmember account.
- Figure 22 shows a person-to-person payment between a card account and a no-card account.
- Figure 23 shows a person-to-person payment for no-card account to no-card account.
- Figure 24 shows a credit card load.
- Figure 25 shows overall system diagram of another specific embodiment of the invention.
- Figure 26 shows a person-to-person payment between a no-card account and a no-card account.
- Figure 27 shows person-to-person payment between a no-card account and a card account.
- Figure 28 shows person-to-person payment between for a viral transaction to a nonmember.
- Figure 29 shows incentive funding.
- Figure 30 shows credit card load.
- Figure 31 shows ACH load.
- Figure 32 shows ACH unload.
- Figure 33 shows an ATM load.
- Figure 34 shows a prior art environment for implementing a credit card transaction using the
- Figure 35 shows a closed loop payment transaction system in accordance with an embodiment of the present invention.
- Figure 36 shows the environment for implementing a closed-loop financial transaction system with low fees and improved security in accordance with an embodiment of the invention.
- Figure 37 is a block diagram of a closed- loop financial system in accordance with an embodiment of the invention.
- FIG 38 is a block diagram of the mobile client application (MCA) in accordance with an embodiment of the invention.
- Figure 39 shows a closed-loop payment transaction system in accordance with an embodiment of the present invention.
- Figure 40 shows an exemplary fee structure for the closed-loop financial system in accordance with an embodiment of the invention.
- Figure 41 shows a load trust operation in a member supported payment system implementation of the invention.
- Figure 42 shows a consumer registration in the member supported payment system.
- Figure 43 shows load and unload operations in the member supported payment system.
- Figure 44 shows a purchase transaction in the member supported payment system.
- Figure 45 shows a system using a virtual pooled account.
- Figure 46 shows a speed shopping feature in accordance with an embodiment of the present invention.
- Figure 47 shows another speed shopping feature in accordance with an embodiment of the present invention.
- Figure 48 is a system level illustration of a financial transaction carried out by at least one SMS messaging mechanism in accordance with an embodiment of the present invention.
- Figure 49 shows a method for securing SMS based financial transactions in accordance with an embodiment of the present invention.
- Figure 50 shows use of a secure SMS aggregation server in accordance with one embodiment of the present invention.
- Figure 51 shows a registration process for a new account holder in accordance with an embodiment of the present invention.
- Figure 52 shows a tiered fraud detection system in accordance with an embodiment of the present invention.
- Figure 53 shows a pooled account structure in accordance with an embodiment of the present invention.
- Figures 54, 55, and 56 show a method for preventing fraud and multiple duplicate transaction requests in accordance with embodiments of the present invention.
- Figure 57 shows an example of sequence number authentication.
- Figure 58 shows another example of sequence number authentication.
- Figure 59 shows the wire protocol that specifies the format of serialized data passed between devices and data center in accordance with an embodiment of the invention.
- Figure 60 shows a successful invocation of the service call in accordance with an embodiment of the invention.
- Figure 61 shows a response to a service call where an exception is generated as a result of the service call in accordance with an embodiment of the invention.
- Figure 62 shows a successful invocation of another service call in accordance with an embodiment of the invention.
- Figure 63 shows High Level OMAP Design Layers for a mobile device in accordance with an embodiment of the invention.
- Figure 64 is a state diagram that shows the OMAP Communication Design in accordance with an embodiment of the invention.
- Figure 65 is a state diagram that shows OMAP Persistence Design in accordance with an embodiment of the invention and state diagram that shows the OMAP User Notification Design in accordance with an embodiment of the invention.
- Figure 66 shows the OMAP Screen Palette in accordance with an embodiment of the invention.
- Figure 67 is a state diagram that shows OMAP Screen Transitions in accordance with an embodiment of the invention.
- Figure 68 shows the layout for the OMAP Main Menu in accordance with an embodiment of the invention.
- Figure 69 shows the OMAP Pay Screen Flow from the source perspective in accordance with an embodiment of the invention.
- Figure 70 shows OMAP Pay Screen Flow from the target perspective in accordance with an embodiment of the invention.
- Figure 71 shows the OMAP Request Pay Screen Flow from the Source-Request perspective in accordance with an embodiment of the invention.
- Figure 72 shows the OMAP Request Pay Screen Flow from the Target - Accept perspective in accordance with an embodiment of the invention.
- Figure 73 shows the OMAP Request Pay Screen Flow where the target denies a request in accordance with an embodiment of the invention.
- Figure 74 shows the OMAP Request Pay Screen Flow where both the
- Source and Target accept a request in accordance with an embodiment of the invention.
- Figure 75 shows the OMAP Request Pay Screen Flow where both the Source and Target deny a request in accordance with an embodiment of the invention.
- Figure 76 shows the OMAP Balance Screen Flow in accordance with an embodiment of the invention.
- Figure 77 shows the OMAP History Screen Flow in accordance with an embodiment of the invention.
- Figure 78 shows the OMAP Settings Screen Flow at the source in accordance with an embodiment of the invention.
- Figure 79 shows the screen flow for the OMAP for an Unknown Mobile ID in accordance with an embodiment of the invention.
- Figure 80 shows the OMAP System Exception Screen Flow where a request fails in accordance with an embodiment of the invention.
- Figure 81 to 86 show user screens and flows for a mobile phone application for performing person-to-person payments.
- Figures 87 and 88 show an architecture for providing an off-line payment system in accordance with an embodiment of the present invention.
- Figure 89 is a block diagram of components of a mobile device for conducting both real-time and off-line financial transactions on a mobile device in accordance with an embodiment of the present invention.
- Figure 90 shows the J2ME Application Infrastructure for the MCA in accordance with an embodiment of the present invention.
- Figure 91 shows the application (MCA) initialization and screen sequence sequence diagrams in accordance with an embodiment of the present invention.
- Figure 92 shows screen sequence classes in accordance with an embodiment of the present invention.
- Figure 93 shows the EWP J2ME synchronous service invocation in accordance with an embodiment of the present invention.
- Figure 94 shows an asynchronous interaction with server or unsolicited notification in accordance with an embodiment of the present invention.
- the present invention relates to a mobile payment platform and service.
- An embodiment of the present invention encompasses a payment platform that provides a fast, easy way to make payments by individuals or merchants using their mobile devices to access an account such as a debit account.
- Further interfaces include IM, Web, and application widgets.
- Other accounts may include a DDA or a credit card account.
- the account may also be a stored value account without a card associated with it.
- Additional embodiments of the present invention encompass a variety of partners that include mobile phone operators, nationally branded merchants, and financial service providers together with a payment platform that provides a fast, easy way to make payments by individuals using their mobile devices.
- FIG. 1 shows a block diagram of a system of the invention for conducting value exchange transactions including, in specific implementations, person-to-person payments and transactions, person- to-merchant payment transactions, and other banking transactions.
- An applications server 107 is connected to a network 109. Although only one applications server is shown, there may be any number of applications servers in a system of the invention, and such servers may be distributed geographically. Such applications servers can be executing on a single server machine or a number of server machines. As the load on an applications server increases, typically more machines will be used to handle and respond to the increased load.
- a merchant interface 112 and a customer interface 116 are also connected to the network.
- This network can be any network to carry data including, but not limited to, the Internet, Ethernet, plain old telephone service (POTS) line, public switch telephone network (PSTN), ISDN, DSL, coaxial cable, fiber optics, satellite, cellular, wired, wireless, fixed line, serial, parallel, and many others, and combinations of these.
- POTS plain old telephone service
- PSTN public switch telephone network
- ISDN digital subscriberator
- DSL coaxial cable
- fiber optics satellite
- cellular wired, wireless, fixed line, serial, parallel, and many others, and combinations of these.
- the customer interface can handle any number of customers such as customer A, customer B, and up to customer n, where n is any positive integer.
- the customer interface can be implemented through a variety of devices including wireless or mobile devices such as cell phones or PDA's, or through fixed line or wired links using, for example, a browser connected to the internet.
- the customer interface can operate through
- a payment processor 119 On the applications server is a payment processor 119, which can also be connected the merchant interface.
- a financial institution interface 123 is connected to the applications server and payment processor.
- the applications server can also include a database 127.
- the database may be on a separate server from the applications server and accessible to the applications server through a network or other connection.
- the financial institution can also be connected to the database.
- the database can include a system of record 130 and virtual pooled accounts 134, typically managed by the applications server 107.
- the financial institution may manage pooled accounts 138. Therefore the system of record and virtual pooled accounts may be managed separately from the pooled accounts at the financial institution.
- the system of the present invention is resident on the applications server 107.
- a customer accesses the system over network 109 via his chosen device and its associated protocol.
- the system maintains an account for the customer, and the customer has deposited a sum of money into his account by any suitable means, such as a direct deposit, a link to a bank account such as a checking or savings account, or a credit card.
- the amounts deposited by each customer are all maintained in pooled accounts 138 at the financial institution(s), and the system of record maintains a record of each individual customer account even though the funds are pooled at the financial institution.
- merchants maintain an account where their funds are resident in the pooled account and tracked by the system of record.
- pooled accounts 138 are maintained at multiple financial institutions
- virtual pooled accounts 134 effect a real-time representation of the balances in those different virtual accounts 138, to allow consumers and merchants to realize the benefits of real time and near-real time transactions, while maintaining the banking efficiencies of permitting reconciliations less regularly, for example on a periodic basis such as daily or weekly.
- pooled accounts are not required for all embodiments, and instead individual accounts can be implemented at the financial institution, although the system otherwise operates substantially the same as for pooled accounts.
- the customer wishes to send money to another person or a merchant, he provides the appropriate information via his access device, for example his cell phone, and a record of the transaction is made by the system. As part of the transaction, the customer's account is debited and the recipient's account is credited. Because the funds are actually maintained in a single pooled account, there is no external transfer of funds. Instead, the only change is the debiting and crediting of the respective accounts reflected in the system of record, which occurs substantially in real time. Even where the funds of the sender and the recipient are maintained in different pooled accounts maintained at different institutions, the system of record manages the funds transfer so that, from the perspective of the sender and recipient, the transaction occurred substantially in real time.
- the virtual pooled accounts 134 can also be used to balance the funds maintained in the various pooled accounts 138, to ensure that sufficient funds are available for any transaction and also to share provide appropriate return to the partner financial institutions who are hosting the pooled accounts 138.
- a system of the invention can include some or all of the elements shown in the figure, and can include other elements not shown. Some elements can be divided into separate blocks, or some elements can be incorporated or combined with other elements (e.g., two blocks combined into a single block). Additionally, some elements can be replaced by other elements not shown (e.g., replacing one block with a different block).
- the system of the invention facilitates financial transactions between individuals and between a customer and a merchant.
- the customer initiating a transaction may be by using a mobile device, such as a mobile phone or smartphone.
- the target of a transaction can be a person having a mobile device, which is capable of accessing the mobile payment system.
- the funding source for these financial transactions can be the owner or operator of the applications server (which is sometimes referred to as a mobile payment server or mobile payment service). Then, customers (and merchants) are able to load or unload funds from the mobile payment service.
- These funds can be from any source including a cash, check, cash, on-line payment solution, wire funds transfer, checking account, savings account, certificates of deposit, reverse mortgage account, brokerage account, dividends, bonds, hedge fund account, credit card, debit card, or any financial instrument, or any combination of these.
- the funding source is a financial institution that is accessible by the user through the mobile payment server. Funds can be transferred between financial institutions if needed. For example, customer A may send money to customer B or to a merchant, where parties have money at different financial institutions. The mobile payment system will facilitate the transfer between the institutions and notify the parties appropriately.
- Figure 2 shows a software architecture for a specific embodiment of the invention. This block diagram shows the layers for a specific architecture that can be implemented on the applications server
- the layers include a consumer web application container 203, payment system container 206, persistence layer 209, and relational database management system (RDBMS) layer 212.
- RDBMS relational database management system
- the consumer web application container and payment system container can be based on WebLogic by BEA Systems, Inc.
- the persistence layer can be based on
- the relational database management system can use an Oracle database.
- other vendors, suppliers, or systems may be used.
- a system of the invention may incorporate open source code.
- consumer web application container is a presentation layer for interfacing with different types of clients.
- Some examples of the interfaces provided include SMS gateway, phone application gateway, web services gateway, web application pages gateway, and web application framework gateway.
- the phone messaging codec converts the incoming or outgoing requests, or both, such as SMS or Phone into system or client specific messages.
- An architecture of the invention can be include any number of these interfaces.
- the payment system container includes connectors to external financial or security systems, mail servers, and messaging services. There is also a business logic interface and payment system business logic. Service clients can invoke the business services through business service gateway.
- the gateway implementation could use EJB or other technologies.
- a system of the invention can include any number of the elements shown in the figure.
- the system may include other elements not shown. Some elements can be divided into separate blocks, or some elements can be incorporated or combined with other elements (e.g., two blocks combined into a single block). Additionally, some elements can be substituted with other elements not shown (e.g., replacing one block with a different block).
- Payment System Infrastructure Technology Environment
- An aspect of the invention is a mobile payment system or service.
- This application discusses many specific embodiments and implementations of individual components and elements, variations and modifications of these, and combinations of these.
- a system of the invention can include any of the variations or specific implementations discussed, singly or in any combination.
- an example of a specific implementation of a mobile payment system is provided, and this specific implementation is referred to herein for convenience as the "Obopay system".
- the Obopay system is merely an example of an implementation of a mobile payment system and is discussed to describe more easily various aspects of the invention.
- the invention encompasses many mobile payment system implementations and is not limited to the specific implementations described.
- Figure 3 shows a specific implementation of the invention.
- Figure 3 shows a robust technology environment 300 in accordance with an embodiment of the present invention that comprises a mobile client server platform 302, a scalable hardware environment 304, and bank integration 306.
- Platform 302 is the heart of the payment system infrastructure offering security, communication, ledger, currency, fraud and reporting, and administration.
- a mobile client application (MCA) runs on a MCA
- J2EE payment server the technology favored by many banks. Incoming and outgoing transaction requests are processed by HTTP or Web Services commands. Fraud detection, transactional databases, and bank integration complete the picture.
- platform 302 comprises many different implementations.
- platform 302 can comprise a server farm with a plurality of servers coupled to a network of storage devices.
- platform 302 can be implemented as a plurality of data centers to provide load balancing and redundancy.
- the payment system infrastructure is based on a horizontally expandable, clustered, and scalable hardware environment that provides robust failover capability.
- the platform 302 is implemented using a Linux-based operating system that supports thin client applications including browsers such as Microsoft® Internet Explorer, Netscape, Opera, and Mozilla Firefox.
- the operating system also supports rich client applications.
- Java 2 Platform, Micro Edition Java 2 Platform, Micro Edition
- J2ME Java .NET
- Microsoft .NET is used on the Mobile Client Platform, as well as other rich client applications as necessary.
- Examples of clients that can interface with the system include mobile phones, smartphones, personal digital assistant devices, notebook computer, desktop computers, and many others.
- the clients may connect through a communications network to the system.
- This network may be wireless or wired.
- the network is wireless and the client devices are mobile devices.
- the communication network can be made of many interconnected computer systems and communication links. Communication links can be hardwired links, optical links, satellite or other wireless communications links, wave propagation links, or any other mechanisms for communication of information.
- Various communication protocols can be used to facilitate communication between the various systems. These communication protocols may include TCP/IP, HTTP protocols, wireless application protocol (WAP), vendor-specific protocols, customized protocols, and others.
- the communication network is the Internet
- the communication network can be any suitable communication network including a local area network (LAN), a wide area network (WAN), a wireless network, an intranet, a private network, a public network, a switched network, SMS messaging network, mobile phone network, cellular phone network, Ethernet, and combinations of these, and the like.
- LAN local area network
- WAN wide area network
- wireless network an intranet
- private network a private network
- public network a public network
- switched network SMS messaging network
- mobile phone network mobile phone network
- cellular phone network cellular phone network
- Ethernet and combinations of these, and the like.
- the network can be a wired network (e.g., using copper), telephone network, packet network, an optical network (e.g., using optical fiber), or a wireless network, or any combination of these.
- data and other information can be passed between the computer and components (or steps) of a system of the invention using a wireless network using a protocol such as Wi-Fi (IEEE standards 802.11, 802.11a, 802.11b, 802.1 Ie, 802.1 Ig, 802.1 Ii, and 802.1 In, to name just a few examples).
- a user interfaces with the system through a portable computing device such as a smartphone or mobile phone.
- a computer system can include a display, enclosure, keypad, and pointing device. Within the enclosure, there may be familiar computer components such as a processor, memory, mass storage devices, and the like. There may be a single processor or multiple processors. The processor may be a multiple core processor.
- flash drives e.g., SD cards
- mass disk drives e.g., floppy disks
- magnetic disks e.g., magnetic disks, optical disks, magneto-optical disks, fixed disks, hard disks, CD-ROMs, recordable CDs, DVDs, recordable DVDs (e.g., DVD-R, DVD+R, DVD-RW, DVD+RW, HD-DV
- the invention is computer software that is executed by a computing device.
- the computing device can be a client device or a server device, or a combination of these.
- a computer- implemented or computer-executable version of the invention may be embodied using, stored on, or associated with computer-readable medium.
- a computer-readable medium can include any medium that participates in providing instructions to one or more processors for execution. Such a medium can take many forms including, but not limited to, nonvolatile, volatile, and transmission media.
- Nonvolatile media includes, for example, flash memory, or optical or magnetic disks.
- Volatile media includes static or dynamic memory, such as cache memory or RAM.
- Transmission media includes coaxial cables, copper wire, fiber optic lines, and wires arranged in a bus. Transmission media can also take the form of electromagnetic, radio frequency, acoustic, or light waves, such as those generated during radio wave and infrared data communications.
- a binary, machine-executable version of the software of the present invention may be stored or reside in RAM or cache memory, or on mass storage device.
- the source code of the software of the present invention may also be stored or reside on mass storage device (e.g., hard disk, magnetic disk, tape, or CD-ROM).
- code of the invention may be transmitted via wires, radio waves, or through a network such as the Internet.
- an application program of the invention may be downloaded and installed onto a phone. After installation, the user of the phone may run the application and send money to another user.
- Computer software in accordance with the present invention can be written in any of various suitable programming languages such as C, C++, C#, Pascal, Fortran, Perl, SAS, SPSS, JavaScript, AJAX, and Java.
- the computer software product can be an independent application with data input and data display modules.
- the computer software products can be classes that can be instantiated as distributed objects.
- the computer software products can also be component software such as Java Beans (from Sun Microsystems) or Enterprise Java Beans (EJB from Sun Microsystems).
- An operating system for the system can be one of the Microsoft Windows® family of operating systems (e.g., Windows 95, 98, Me, Windows NT, Windows 2000, Windows XP, Windows XP x64 Edition, Windows Vista, Windows CE, Windows Mobile), Linux, HP-UX, UNIX, Sun OS, Solaris, Mac OS X, Alpha OS, AIX, IRIX32, or IRIX64. Other operating systems can be used.
- Microsoft Windows is a trademark of Microsoft Corporation.
- a user accesses a system on the World Wide Web (WWW) through a network such as the Internet.
- the web browser is used to download web pages or other content in various formats including HTML, XML, text, PDF, and postscript, and can be used to upload information to other parts of the system.
- the web browser can use uniform resource identifiers (URLs) to identify resources on the web and hypertext transfer protocol (HTTP) in transferring files on the web.
- URLs uniform resource identifiers
- HTTP hypertext transfer protocol
- Platform 302 comprises a server 308 that handles interaction with account holders and maintains transaction records.
- Server 308 also provides the link to value-added services provided by merchant partners.
- Server 308 utilizes a transactional database 309 that preferably comprises a data storage network.
- Server 308 uses information (such as account numbers, balance information, etc) obtained from transactional database 309 to manage a payment processor 310 that communicates with merchant point of sale (POS) terminals 311.
- POS point of sale
- Merchants can use the POS terminals 311 for financial transactions such as adding funds to a debit card for an account holder.
- Merchants may also establish a separate link to payment server 302 for accounting purposes.
- a settlement engine handles the transactions within the closed loop system which settles on a real time or near-real time basis. Upon the occurrence of a P2M transaction, the user's account and the merchant's account is updated substantially simultaneously. Because most merchants can also serve as load agents, the merchants carry a balance in their account.
- the settlement engine can be used to sweep a preset dollar amount or a dollar amount over a minimum to an external bank account held by the merchant.
- the settlement engine also facilitates person-to-person (P2P) transactions because of the ability to transfer funds from one enrolled account holder to another enrolled account holder.
- P2P person-to-person
- Platform 302 further comprises a fraud detection system 312 for tracking information distilled from each financial transaction.
- fraud detection systems are known and are often used to monitor for fraud when credit cards are used. Risk is controlled by a general rules engine (see Figure 3) that applies limits and determines the acceptability of requested transactions from a risk perspective.
- the information collected for each financial transaction can be mined for use by merchant and consumer value added applications, by business monitoring applications, by system operations applications and security monitoring applications as indicated at 313.
- a marketing engine delivers coupons or discounts to account holders from participating merchants. This engine also controls the use of instant account credits to stimulate enrollment.
- a currency translation module facilitates foreign operation where the value measurement in the closed loop payment system needs to be translated to other currencies.
- the module is also used to control foreign exchange exposure.
- Viral engine provides the ability to send funds to an unenrolled user. This module allows the account holder to send the funds which will send a message to the receiver that the funds are being held for them and will be available to them once that they enroll.
- a roaming feature provides a Peer to Merchant transaction environment where the merchant uses a mobile phone to verify receipt of the funds where the merchant does not have access to a terminal that would typically be used for credit or debit card acceptance.
- One advantage of the present invention arises from the security of not accepting cash and guaranteed funds versus a check and also provides instant verification which is not feasible with a credit card purchase without a terminal.
- the transactional databases 308 integrate directly with a pooled bank account 306 maintained at a partner bank. All funds stay within this account, although merchants have the option of transferring their funds from their prepaid debit accounts to other accounts through ACH transfers. It will be appreciated that more than one partner bank may be set up such that each account may be linked to a pooled bank account at more than one bank. Since platform 302 knows the available balance for each account (regardless of the number of bank partners and pooled accounts 306) there is no risk of funds not being available when interbank settlements occur.
- the payment system infrastructure takes advantage of the existing mobile infrastructure and messaging technology to offer low-cost, universally accessible financial services.
- Mobile service providers gain incremental revenue, as well as additional data traffic and a competitive advantage, by offering their subscribers a digital payment solution. Unlike other payment systems, the present invention can be offered to a provider's entire customer base, since it can use SMS.
- account holders can either pay their bills or top-off minutes via their prepaid debit account. This is especially useful for account holders who do not have other financial services available to them.
- All the funds represented by individual prepaid debit accounts are maintained in commercial bank accounts held in trust for account holders. At the end of each business day, the aggregate balance of all the accounts equals the bank balance. In an embodiment, all transactions created within a twenty-four-hour period will be settled within that period, although in other embodiments the settlement period can vary and can, for example, be weekly, monthly, or any regular or irregular period.
- the accounts function like a wallet with cash where the balance changes immediately.
- the present invention does not function as a demand deposit in which instruments may be presented by a third party.
- account holders are not be able to issue demand instruments such as checks. As a result, there are no pending transactions that settle at a future date, which again ensures that good funds are provided to the recipient on any transaction.
- an account holder adds money to a prepaid debit account in advance of purchases.
- Money can be added to a prepaid debit account at a partner's location, by way of interactive voice response (IVR) using their mobile phone or another phone, via a website accessible over the Internet or by contacting a customer service representative.
- IVR interactive voice response
- a user can set up a direct deposit link or link an account to a bank account via the ACH or ATM networks.
- Money can be transferred from an existing account at a financial service provider partner (such as a banking institution) or by depositing cash or a check to the prepaid debit account (at a participating merchant or other third party). Account holders then have access to these funds through their mobile devices to make payments and they may receive payments to their account activity from others. In other embodiments, funds can be transferred from a designated credit card account into the prepaid debit account.
- a financial service provider partner such as a banking institution
- funds can be transferred from a designated credit card account into the prepaid debit account.
- funds from each account holder are pooled at a single financial institution and each account holder has an interest in the pooled account equal to the funds deposited, minus the funds transferred to another account plus the funds received from others. Account holders can withdraw some or all of their available funds from the pooled account.
- each account holder may set up a prepaid debit account at any financial institution and access the account indirectly to transfer funds.
- account holders are not limited to a debit card with funds maintained in the pooled account at a particular financial institution. Rather, account holders can access a debit card account at a financial institution of their choosing.
- a credit card account is designated as the primary account and a cash advance is moved to a prepaid debit card account whenever the funds in the debit card account drop to, or below, a selected amount.
- financial transactions are conducted on a person-to-person basis where each party is identified by a telephone number and a password (e.g., a personal identification number of PIN.
- a password e.g., a personal identification number of PIN.
- the financial transaction may be identified by a user name and password.
- at least one party to a transaction is identified by a bar code.
- the bar code can be displayed on a display such as the screen of a mobile telephone and detected by the camera that is present on most modern mobile devices. Alternatively, the bar code can be printed on the device or may be otherwise attached to the mobile device.
- a software application referred to as a mobile client application (MCA)
- MCA mobile client application
- a credit card or a checking account can be accessed as a source of funding.
- no additional hardware such as a point of sale terminal or Internet access required.
- PIN unique account holder identification number
- the account holder enters their mobile phone number and a server pushes the mobile client application to their phone.
- the account holder can begin using the mobile phone for concluding financial transactions.
- the user downloads the application by going to a specific URL using the user's mobile Internet browser (e.g., get.obopay.com) which will start the download process for the mobile application.
- the user's mobile Internet browser e.g., get.obopay.com
- Account holders can also choose to link their account to a debit or credit cards offered by financial institution and which can be used at the millions of merchant locations worldwide.
- the ATM network such as the NYCE network, account holders can obtain cash from their prepaid debit account using an ATM.
- Financial transaction requests are transmitted in one of two ways, depending on the account holder's mobile phone. If the account holder has an application-enabled phone, which enables transmitting the financial request through a Web-based application (HTTP or HTTPS) or a mobile application, such as J2ME, .NET, .NET CF, WAP, or SMS, or any combination of these, the transmission goes directly to the server. A request message is sent once MCA establishes a connection with the payment server.
- HTTP Web-based application
- a mobile application such as J2ME, .NET, .NET CF, WAP, or SMS, or any combination of these
- SMS text messaging also referred to as SMS text messaging or simply SMS
- financial data is routed to the mobile operator, and then to an SMS aggregator who transmits messages to the payment server in real time.
- SMS mobile payment system avoids the expense and problems associated with having a chip added to the cell phone.
- financial information is sent using SMS text messaging.
- SMS text messaging works well with all types of cell devices and certain other types of mobile communication devices, such as portable digital assistants or PDAs
- SMS exposes unencrypted passwords or personal identification numbers (PINs) as well as balance information or details about the most recent transaction. Since anyone in possession of the phone can read the SMS message file and immediately know how to access the account of another, embodiments of the present invention do not use SMS messaging to send PINs. Accordingly, in one embodiment, the present invention provides for the initiation of the financial transaction by way of SMS text message.
- the SMS message starts with a key word that provides the type of transaction requested— PAY, REQUEST PAYMENT, BALANCE, TRANSFER, or HELP.
- PAY is referred to as “SEND”
- REQUEST PAY is referred to as "GET.”
- the SMS message contains the key word that indicates a desire to transfer funds from one account holder to another account holder
- the key word can be either pay or request payment (or send or get).
- the amount is entered with or without a decimal point.
- the target telephone number (or short code, e-mail address, license number, or other identifying information) is entered. This information may be obtained from the telephone directory of the mobile device.
- the account holder may enter in a message for display to the other party. In some circumstances, this message may be a null message. In some embodiments, the account holder may enter a supplemental message for record keeping purposes.
- the PIN is entered by the account holder and sent through a voice channel connection to the payment server to verify the SMS message.
- the PIN is entered in via the keyboard and may be any alphanumeric code.
- the PIN is then sent to the payment sever as a DTMF encoded message where DTMF refers to dual tone multi frequency, the signal a telephone company receives when a telephone's touch keys are pressed
- the payment server receives the SMS message via the SMS text message communication path and the PIN through the voice channel.
- the call to the payment server may be made by the account holder or it may be initiated as a "call back" feature by the payment server in response to receipt of the SMS message.
- the PIN may be sent as a DTMF encoded message to maintain security, but in other embodiments, the PIN may be spoken by the account holder and converted by an interactive voice recognition software module operating on the payment server or another server (not shown) dedicated to the handling voice calls.
- the mobile device includes the mobile client application.
- the mobile client application is invoked, either directly by the account holder or in response to activation of the SMS text messaging feature on the mobile device.
- the MCA determines the best method for sending the PIN.
- the PIN is encrypted by the mobile client application and included in a subsequent SMS message that is sent to the payment server.
- the payment server correlates the messages by matching the telephone number and the time each message was sent. If the PIN was sent in a message that was distant in time compared to the SMS message, the transaction may be rejected. If only one of the two messages are received, the transaction may be rejected. If, however, both the SMS message with the financial transaction details (minimum of at a keyword) and the PIN code are received and are verified, then the financial transaction is concluded.
- the mobile client application when a voice channel is available, invokes a module to encode the PIN into DTMF form. The DTMF is then sent by the mobile client application to the payment server along a voice channel connection established by the mobile client application.
- the module may be a Java API that generates the appropriate tones based on keypad input.
- the mobile client application provides a user interface (UI) on the display screen of the mobile device to guide the account holder for concluding the financial transaction. In this embodiment, the account holder is guided through the process of constructing the SMS text message by the automatic insertion of the keyword, amount, target telephone number, password, and messages, if any.
- UI user interface
- the SMS message may include the keyword, the amount, the target telephone number and the password.
- the password would be visible to anyone controlling the mobile device.
- this problem is managed by sending a message, to the account holder to delete the sent message from the SMS log folder.
- such instructions can be provided to the user through help and FAQ information. These instructions can also suggest that the account holder turn off message logging of outgoing SMS messages when conducting financial transactions.
- the account holder sends a text message to the payment server using the existing text message capability on their phone.
- the functionality includes Pay (or Send), Request Pay (or Get), Balance, History, and Help invoked by using any of these features as a keyword.
- the referrer or referee, or both, may be given a referral bonus.
- the account holder enters the keyword together with additional information in the body of the text message to construct a command that is then sent to the payment server.
- Access to the payment server can be by way of a toll free telephone number, a short code or an e-mail address, all of which identify the payment server to the SMS text messaging system.
- An example of a short code is 62729 which is used as the target phone number for the account holder's text message commands to the payment server.
- An example of an e-mail address is sms@obopay.com which is the e-mail target for SMS text message commands sent to the payment server.
- each item has a space between it and the previous item.
- the keyword is not case sensitive.
- the mobile number can include area code plus mobile number with no spaces present in the mobile number.
- the account holder can enter a leading 1 or not on the phone number. A dollar sign is not required to be entered with the amount, but is allowed.
- the user can include a message with their payment.
- the PIN is sent in a second message by way of a voice call. To send a payment to another person or a merchant using the combined SMS plus voice channel method, the account holder would enter the command string shown in table B.
- the PIN is sent to the payment server over the voice communication channel — that is, the cellular network, the Internet or POTS.
- Each data center contains a combination of PBX/ACD/VRU technology to allow multiple simultaneous call processing.
- the VRU technology can be used to provide programmable inbound and outbound DTMF support.
- the VRU can be connected to an enterprise J2EE system which represents the actual business logic and system of record for the financial transactions.
- the J2EE system can then integrate with actual banks for settlement of the transactions.
- Sending money to another account holder or merchant is fast and simple.
- the present system simplifies mass payments, such as collecting for a charity event from many account holders or sending multiple transactions from the same account holder at the same time.
- Sending money from one account holder to another across the room, across town, or across the country is easy, convenient, and inexpensive.
- a prepaid debit account holder can send money to any SMS-enabled handset account holder, even if they do not have the mobile client application installed on their mobile device or a prepaid debit account.
- the recipient If the recipient is not already an account holder, the recipient receives a SMS text message indicating that funds have been transferred in their name. To get timely access to these funds, the recipient registers for their own prepaid debit account.
- This viral messaging makes it easy for nonaccount users to become registered account holders themselves. If the mobile device used by the nonaccount user supports a WAP or mobile Internet browser, then the sign-up may occur immediately via the telephone. The user also has the option to sign up for the service using the web, a kiosk, in person at a merchant partner or through another device.
- the payer types a telephone number or other identifying code into the keypad of their mobile device.
- An identifying code can be a special three, four, or five digit "short code" that is translated to a specific account by the mobile services provider. For example, if an account holder wishes to download a television show made available by a television network, the account holder types in a short code of 227 to pay the network for the desired content.
- the short code may use any alphanumeric character sequence. In such an arrangement, it is desirable for recipients to acquire a short code to encourage users to access their services.
- the recipient of funds may be identified by a telephone number selected from the address book function on the mobile device.
- a hosted address book is used where the user would set up their address book with the service and then that address book would be available to them through any device that they use.
- the system may provide interfaces into third party address books such as Outlook, a phone personal information manager (PIM) address book, or third party services such as Plaxo.
- the payer uses the camera function on the mobile device to acquire an image that identifies the payee.
- an image would be a bar code.
- the payer is identified by the payee by means of an acquired image.
- One such acquired image is a bar code displayed either on a display screen or visibly affixed on an outer portion of the mobile device.
- either the payer or the payee is identified by means of a proximity device such as a radio frequency identification device (RFID) or a near field communication (NFC) device.
- RFID radio frequency identification device
- NFC near field communication
- An account holder can withdraw funds or make purchases at a partner merchant in multiple ways:
- a mobile device is associated with one or more bank accounts
- the account holder can transfer funds in real time from one account to another without any access to a service center and without any internet or computer access.
- the account holder can select the account from which funds are obtained to make a purchase in real time.
- account holders contribute to a master account held by a bank partner. At any time the account holder can withdraw their full contribution without any penalty.
- the master account is interest-bearing and the bank partner and is compensated for managing the payment system with the interest that accumulates on the account.
- NFC is used to communicate between mobile devices to conclude financial transactions using the infrastructure of the present invention.
- NFC is used to communicate from a mobile device to a POS terminal to conclude financial transactions.
- any Internet enabled telephone device such as a VOIP telephone can be used to practice the present invention even though it may be affixed at a specific location and is not necessarily mobile.
- e-mail addresses are used in addition to or in lieu of telephone numbers to identify one or more parties to a financial transaction.
- Operating the mobile, individualized payment transfer infrastructure provides the opportunity to generate a revenue stream without charging a surcharge on transactions where a merchant is one of the parties. It is recognized that in the mobile or wireless world, cell phone users are often willing to invest a small monthly fee to access certain services. Accordingly, revenue is generated by charging a small fee per transaction to send money.
- the per transaction fee ranges from a few pennies for transactions under a selected amount such as $25.
- the "per transaction" fee can range from $0.05 to about $0.10 per transaction in alternative embodiments, although any fee can be charged, from less than one cent per transaction to dollars per transaction. For example, the fee can be from $0.00001 to $10 per transaction.
- the fee can be charged on both the party receiving payment and the party sending payment. Alternatively, the fee can be charged to the account holder sending the money. In still other embodiments, a percentage of the transaction amount is charged to conclude the transaction. In this embodiment, the fee is charged for higher value transactions, such as, by way of illustration, $25.
- a fee notice, if any, is preferably displayed on the approval screen prior to the account holder's final approval and authorization to send the payment. In still other embodiments, the fee may be waived for some or all transactions, for example, for small transaction amounts. Thus, there would be no "per transaction" fee when small purchases are made using the payment transfer infrastructure.
- embodiments of the present invention contemplates multiple different revenue generation models, specifically, (1) a "per transaction" fee is assessed against one or both parties to a financial transaction.
- the fee amount is nominal ranging from about a penny to about $0.15; (2) flat rate monthly price plan where every account holder would pay a monthly service charge; (3) high value transaction fee for transactions over a selected amount, such as by way of illustration, $50, the fee waived for all other transactions; and (4) value added services, such as linking to an accounting service to automatically record transaction details or to help prepare for filing tax statements. Alternatively or additionally, revenue may be generated by collecting interest on the pooled accounts.
- Figure 4 shows another implementation of a system of the invention. Figure 4 shows one embodiment where value added services are used between two account holders.
- the pay request is transferred to server platform 403 as indicated by reference arrow 404.
- the pay request may include an optional description of the payment.
- the account holder may annotate the payment to denote that it was an expense account item.
- the description may be selected from a menu displayed on the mobile device 401.
- the description may be a voice or text message associated with the payment request.
- server 403 Upon receipt of the payment request, server 403 transfers funds from the payer's account to an account for the account holder associated with mobile device 402. The financial institution that manages pooled account 405 is notified of the transaction as indicated by reference arrow 406. In this manner, money is added to the account associated with mobile device 402 and debited from the account associated with mobile device 401. The financial institution then sends a confirmation as indicated by reference arrow 407.
- Server platform 403 also sends a notice of the payment to mobile device 402 as indicated by reference arrow 408.
- a second message is sent indicating that the payment had been made is sent to mobile phone 401, as indicated by reference arrow 409. If the user of mobile device 402 is not an account holder, a new account can be opened as indicated by reference arrow 410. Alternatively, the user may withdraw funds from a designated ATM or other facility associated with financial institution that manages the pooled funds.
- Server platform 403 then documents the transaction by sending the transaction amount and the description of the transaction to an accounting and record keeping service 411 as indicated by reference arrow 412. Thereafter, the account holder accesses the information describing their purchases that is stored and organized by account and record keeping service 411 either via the mobile device 401 or by another Internet connection (not shown).
- the present system also facilitates more automated billing and accounting processes.
- a small business uses an accounting program (which may be stored on a personal computer) to print out a paper invoice that it mails to its customer. The customer must then pay the small business, which is, in the prior art, often done by check. Once the check is received, the small business needs to associate the account number with the check. If the account number is not written on the check, and a copy of the invoice is not sent with the check, time is wasted trying to match the payment to a copy of the invoice. Once matched, the small business deposits the check to their bank and manually enters the data into their accounts receivable accounting program. Clearly this antiquated process is slow, labor intensive, and expensive to support.
- the small business need only select an invoicing option that exports the invoice from the accounting program into, for example, an OFX format, , or other import/export format readable by an accounting program.
- This electronic invoice is then sent to the payment platform (see Figure 3).
- the payment platform creates a "Request Payment" message that is sent to the customer.
- the payment data is sent back to the account to accounting program via OFX and puts the money into the small business' account.
- the OFX message posts the item to accounting program. Since the customer's accounts receivable identification is their phone number, tracking and record keeping is greatly simplified. It should be noted that funds are guaranteed all the way through and there are no bounced checks or other such problems.
- accounting and record keeping service 411 sends an OFX message with, by way of illustration, an employee's expense reimbursement (T&E) payment.
- T&E employee's expense reimbursement
- the money is transferred to the employee's account and notification is sent to their mobile device.
- the present invention eliminates the manual process of entering each transaction into the accounting program.
- FIG. 5 shows a further implementation of system for mobile person-to-person payments.
- a specific embodiment of the invention allows users or clients to interface with the mobile payment system through the Web (e.g., through an Internet browser), WAP (e.g., through a mobile Internet browser on a mobile phone, smartphone, personal digital assistant device), SMS (e.g., text messaging through a mobile phone), IVR (e.g., interactive voice response system that understands a user's voice responses or tones from telephone key presses), WSDL (e.g., web services that may be accessible through a mobile device such as a smartphone).
- Web e.g., through an Internet browser
- WAP e.g., through a mobile Internet browser on a mobile phone, smartphone, personal digital assistant device
- SMS e.g., text messaging through a mobile phone
- IVR e.g., interactive voice response system that understands a user's voice responses or tones from telephone key presses
- WSDL e.g., web services
- the system can interface with wireless phones handle by any of multiple carriers, such as Verizon, Cingular (AT&T), Sprint, Nextel, Alltel, Virgin Mobile, Amp'd Mobile, U.S. Cellular, T- Mobile, and others.
- the service can also interface with prepaid phones.
- Some benefits for the mobile carrier include: a revenue share model based on transmission or subscription basis; promotes application download/purchase; promotes network or data usage; promotes SMS usage; enables an "Off bill” payment solution which will help alleviate the surprise "big bill” problem.
- the mobile payment system enables many different financial services for the user. Examples of some services includes credit card load, debit card load, Automated Clearing House (ACH) load, ACH unload, person-to-person (P2P) payment, remote pay (RPAY), viral, person-to-merchant (P2M), and referrals. Other services include automated teller machine (ATM) network load and unload such as through the NYCE, PLUS, or STAR ATM system.
- the system can also include bill pay integration, where a user may pay bills such as a cable bill, electricity bill, Internet service bill, telephone bill, housekeeping service bill, and other bills via their selected interface, for example their cell phone.
- Loading of an account refers to transferring of funds to an account on the mobile payment system where funds may be transacted.
- a user may load funds from a checking account or credit card to the user's mobile payment system account, which can be managed by a financial partner or managed by the operator of the mobile payment system.
- Unloading of an account refers to transferring of funds from the mobile payment system to another account or directly to the account holder via, for example, the ATM network.
- a user may unload funds from the user's mobile payment system account to a checking account or credit card.
- Loading and unloading may be performed in any of the ways discussed in this application including through ACH, ATM, or credit card or interchange.
- the ACH is generally the least expensive but ACH is usually not real time because funds get settled in a batch mode at the end of the day. So, when an ACH fund transfer is requested, the actual funds will not be transferred and made available to the mobile payment system until, typically, the end of the day. For ATM and credit cards, the money transfer is real time.
- ATM is typically more expensive than ACH, but less expensive to use than credit cards. Note that both ATM and ACH may be used to access a checking account of a user. Credit cards are generally the most expensive of the three to use.
- the system of the invention allows load and unload from any of these networks. In another implementation, the system allows load and unload from only one or more of these, such as from ACH only, ACH and ATM only, credit card only, ATM only, ATM and credit card only, or ACH and credit card only.
- the mobile person-to-person payment system further provides a platform for one or more financial partners.
- These partners can includes an acquirer partner such as Pay by Touch (PBT), Verisign, or other; bank or other financial institutional partner such as a New York City, San Francisco, San Jose (California), London, Shanghai, Hong Kong, or Tokyo bank, electronic bank, NYCE; direct partner (such as co-branded prepaid cards); prepaid processing partner; and an ACH partner.
- PBT Pay by Touch
- Verisign Verisign
- bank or other financial institutional partner such as a New York City, San Francisco, San Jose (California), London, Shanghai, Hong Kong, or Tokyo bank, electronic bank, NYCE
- direct partner such as co-branded prepaid cards
- prepaid processing partner such as co-branded prepaid cards
- ACH partner ACH partner
- a system can have no partner, only a single partner, two partners, three partners, or more than three partners.
- a system can include a single banking partner providing a debit card only (i.e., no credit card) for access by the mobile clients.
- a system can include a single banking partner providing a debit card and a credit card for access by the mobile clients.
- a system can include a two or more banking partners, one providing a debit card and another providing a different debit card for access by the mobile clients.
- a system can include a two or more banking partners, one providing a debit card and another providing a different debit card and a credit card for access by the mobile clients.
- a system can include a single banking partner providing a credit card only for access by the mobile clients.
- a system can include a single banking partner providing a credit card only for access by the mobile clients.
- the system can interface with two banks, bank A and bank B, or any number of banking partners.
- the system can have any combination of the partners described in this application.
- the system can have a direct partner and bank partner, but not a prepaid processing partner.
- the system can have a prepaid processing partner only.
- the system can have a direct partner only.
- the system can have multiple bank partners.
- Each partner system can have a different electronic interfacing scheme, and the mobile payment system will communicate using the appropriate application program interface (API) for each partner.
- API application program interface
- a system of the invention allows easy integration of financial partners (e.g., banking partners, card partners) to mobile and other consumer partners (e.g., mobile phone carriers).
- the acquirer partner has a settlement account.
- the bank partner has pooled and working accounts.
- the direct partner has pooled and working accounts.
- the prepaid processing partner has pooled and working accounts.
- the ACH partner has a settlement account.
- the mobile payment system can provide one or more of pooled account management, cross-bank settlement and treasury management, and mobile banking integration.
- the systems funds are represented by the aggregation of all partner bank pooled accounts.
- the mobile payment system facilitates a periodic treasury management process such that partner bank pooled accounts retain balances that are representative of their contribution to the mobile payment system customer base plus an agreed percentage of "other" mobile payment system funds.
- An acquisition "path" of a customer dictates the pooled account balance for a given partner bank (i.e., the more customers that a partner bank acquires through "their" paths, the higher the balance of their associated pooled account).
- Users are typically associated with specific financial partners, such as a particular bank. In the mobile payment system, each user will have a user profile that has settings for that user.
- the system can include any number of parameter settings in a user profile, and either more or fewer than described in this patent application.
- the system of the invention operates any number of different financial partners (e.g., 1, 2, 3, 4, 5, 6, 7, 8, 507, 1001, 2054, 3096, or more), each of which can have a different API interface.
- financial partners e.g., 1, 2, 3, 4, 5, 6, 7, 8, 507, 1001, 2054, 3096, or more
- the setting for which processor will indicate which financial partner a user is associated with.
- the system will then know where (which bank) to direct transactions and which API to use so that the user's value exchange transactions (which are typically money exchanges) are transacted properly.
- the setting of the level of participation will be the privileges or level of service the user will have.
- the level of participation setting is based on a number of factors such as what information provided when the user signed up, how much money the user has in user's account, how many referrals the user has made, how many transaction the user has made, or total dollars transacted.
- This profile setting is updated periodically as new information is gathered.
- Some examples of names the level of participation for a user may be "bronze,” “gold,” “silver,” and "platinum” levels.
- the level of participation can be made visible to the user and can be used to build customer loyalty. In other embodiments of the invention, the level of participation can be hidden or otherwise not made available to the user.
- the system When registering with the system, the system will give the user a choice of how much information the user wants to reveal. For example, the user can choose to reveal the user's mobile phone number and then fund the user's account with cash. In at least some embodiments, this is the minimum required to open account. The user is given the option to provide other information, such as e-mail address, credit card number, social security number (e.g., for a credit check), checking account number, and so forth. In an implementation of the invention, the more information the user chooses to reveal corresponds to the level of participation the user is awarded.
- the user may be one of four user states: (1) invited, (2) enrolled, (3) verified, and (4) advanced. In other implementations, there may be additional states.
- the invited state the user has been referred or sent viral money.
- Viral refers to the sending or receipt of money where one of the users has not previously registered with the system.
- a viral user may also be referred to as a nonmember user or unregistered user.
- Viral refers to a characteristic of the mobile payment system of the invention which encourages or allows current users to transact with nonmember users. As more users register and use of the system, the users will help spread news and bring in additional users. For example, in order for a nonmember user to receive the money, the nonmember is encouraged or required to sign up as a member.
- the user has entered basic information, such as a confirmed phone.
- the phone can be confirmed by the system in any suitable manner, including calling the phone number provided by the user at sign-up.
- This call may be an automated or IVR-type call.
- There may be an incentive for the user to sign up, such as the user receiving money (e.g., $5) that is put into the user's account.
- the incentive can be referred to as a referral bonus and may be any amount.
- the referral bonus can be paid only to the referrer, only to the referee, or to both.
- the user's identity is known.
- the user provides address or other related contact information.
- a user in the verified state may receive, request, add (i.e., load), or withdraw (i.e., unload) money.
- the user has provided the user's social security number.
- the user sign up with a particular banking partner to receive a card such as a prepaid debit card.
- the card may be a credit card.
- the advanced state user will be able to do everything a verified user can plus be able to instantly spend money wherever the card is accepted.
- the card may be accepted or usable through one or more networks including Visa, MasterCard, American Express, NYCE, PLUS, or STAR, or any combination of these.
- the card is linked to the user's account. A user without a card is a "no-card" user, while a user with a card is a "carded" user.
- Some ways a person can get verified when signing up includes: For personal information, the system may ask for address and driver's license number. An alternative is to ask for address and social security number. The information can be checked against a credit reporting agency's database such as the Equifax database. Linked bank accounts can be verified using challenge deposits. For example, the system may make a number of small deposits to the user's account. The user tells the system the amount of those deposits as verification that they are authorized to use the linked account. Alternatively, the user may verify through on-line instant account verification, where a user provide an on-line screen name and password. Adding a credit or debit card can also be verified using challenge deposits. Some cards such as Visa and MasterCard can alternatively be verified using security codes and the like.
- the velocity of participation is a setting that sets certain restrictions or limits on the account. Some examples on limits of an account are how many transactions a day a user may perform or amount of money that may be transferred in a transaction. Hard limits and soft limits can be used, where hard limits will not change with intervention by a third party such as person changing the limit. Soft limits can change depending on the user's actions. For example, after the user has remained a member for six months, the user may be automatically allowed five transactions a day when the user's previous limit was some number fewer than five.
- the user will not have access to or know the velocity of participation setting. However, in certain implementations, the user is given velocity of participation information, such as credit or transaction limits.
- Linked accounts are another feature that can be stored in a user's profile. However, any of the user settings discussed in this application, or combination of these, can be kept in separate location, not necessarily in the user's profile.
- Linked accounts are a feature of the system where multiple identities of a user are centralized or unified into a single account. In a typical arrangement, there is an anchor (e.g., such as an account number) for the user, and any additional identities are associated with this anchor. These identities can include multiple phone numbers, e-mail address, instant messenger identifiers, and so forth. The user would not need to know the account number or anchor to access the account. The user is able to access the user's account through any of the associated identities.
- an anchor e.g., such as an account number
- the user validates each of the new identities. This can be done through an IVR callback or responding to an SMS message in the case of a phone number.
- IVR callback For an e-mail, it can be done through sending an e-mail with a unique URL or a pass code that the user would respond with on our webpage.
- instant messenger ID it can be done by responding to an IM.
- Other options available in a user's profile can include preference settings for certain features. Such options can be set or modified by the user at any time by accessing an account maintenance screen. Also, the user can be asked whether to enable or disable options during the registration flow (see below).
- One feature is an auto accept and manual accept feature. When auto accept is turned on, payments sent to this member will automatically be accepted. When manual accept is enabled, payments sent to this member will need to be manually accepted or rejected.
- Figure 6 shows an interbank person-to-person payment. This figure shows one consumer A sending money to another consumer B, where both consumers are members of the same bank partner, A.
- the mobile payment system of the invention will handle the transaction.
- a basic flow of the transaction is: (1) Consumer A sends mobile payment system a pay request. This pay request can be sent by any one of the ways discussed in this patent. (2) The mobile payment system updates the "T" or transaction records in the mobile payment system system-of-record (SOR) to reflect the transaction. These transaction records are managed by the mobile payment system. (3) The system (e.g., Obopay) notifies consumer B of payment. This may be by way of an electronic notification, e-mail, instant message, SMS message, or other notification.
- SOR mobile payment system-of-record
- FIG. 7 shows an implementation of a cross-bank person-to-person payment. This figure shows consumer A sending money to consumer B, where the consumers are members of different bank partners. Consumer A has funds in an account managed by bank A, and consumer B has funds in an account managed by bank partner B.
- the mobile payment system of the invention will handle the transaction.
- a basic flow of the transaction is: (1) Consumer A sends the mobile payment system pay request. (2) Mobile payment system transfers funds from Bank A pooled account to Bank A working account. (3) Mobile payment system transfers funds from Bank B working account to Bank B pooled account. (4) Mobile payment system updates T records in mobile payment system system-of-record to debit consumer A' s account and credit consumer B's account. (5) Mobile payment system notifies consumer B of payment.
- Mobile payment system periodically settles between partner banks A and B. This settlement may occur in any periodic time period. Instead of real time, the settlement may be performed in a batch mode. For example, this may be performed once every 24 hours. The periods do not necessarily have to be equal time periods, but may be different time periods. It will also be appreciated that the sequence may vary, particularly with regard to the debiting, crediting, and notification steps. For example, in an alternative arrangement, a hold may be placed on the funds in consumer A's account, consumer B is notified, and then the funds transfers occur. The particular sequence is not critical as long as the existence of good funds can be guaranteed at each step.
- FIG. 8 shows a linked account load. This figure shows a consumer loading the user's mobile payment system account with funds from another source. For example, a user may want to transfer funds into the user's mobile payment system account from a checking account or credit card.
- a basic flow of this transaction is: (1) Consumer A sends mobile payment system a "load" request indicating that the funds are to be taken from a linked credit or debit instrument. (2) (a/b) Mobile payment system submits real-time credit card (CC)/DDA transaction (good funds). (3) Mobile payment system transfers funds from working account to pooled account. (4) Mobile payment system updates T records for consumer A in mobile payment system system- of-record. (5) Mobile payment system periodically performs treasury management. This management may occur in any periodic time period. For example, this may be performed once every 24 hours. As stated above, the periods do not necessarily have to be equal time periods.
- FIG. 8 A specific example of a credit card load is also shown in Figure 8. From the web, a user enters a credit card number to load $300 into the user's MPS card. The MPS obtains a $300 authorization from, for example, Pay-By-Touch (PBT) for the credit card transaction. The MPS sends a message to the financial partner supporting the MPS card initiating a $300 person-to-person payment from the MPS credit card account to the user's debit card account. The user's account is immediately credited with funds. PBT settles the credit card transaction and sends a $300 ACH transfer to the MPS settlement account at MPS's bank handling the settlement account. The MPS sends a $300 ACH transfer to the MSP credit card master account to replenish the funds.
- PBT Pay-By-Touch
- Figure 9 shows a linked account unload. This figure shows a consumer unloading funds from the user's mobile payment system account to another account. For example, a user may want to transfer some funds from the user's mobile payment system account to the user's checking account, credit card, or other account.
- a basic flow of this transaction is: (1) Consumer A sends the mobile payment system a load request indicating a linked credit instrument as the destination. (2) Mobile payment system submits realtime DDA transaction (good funds). (3) Mobile payment system transfers funds from pooled account to working account. (4) Mobile payment system updates T records for consumer A in the mobile payment system system- of-record. (5) The system periodically performs treasury management. [278] In a specific embodiment, this invention relates to a payment system and more specifically, in a specific embodiment, to an on-line system for transacting payments using mobile phones.
- identifiers include e-mail addresses, phone numbers (e.g., land line, voice over IP, mobile phone, pager, or fax), social security numbers, account number, license plate number, instant messenger username, and others.
- the identifier can be selectable by a user, such as a nonmember choosing a phone number or e-mail address.
- the payment system In the event that the existing member chooses to send funds to a nonmember, the payment system notifies the nonmember that funds have been sent to them.
- the notification can be made by any of the commonly available communication mechanisms, such as e-mail, phone, SMS, IM, and others.
- the payment system ultimately facilitates a transfer of funds from the existing member's account to the new member's account.
- Obopay is used as an example of a specific payment system, but other payment systems may be used.
- a payment system may be called or known by any name.
- the obopay.com web site is specifically identified, but any appropriate web site, web site name, or IP address can be used.
- the invention can be used in the context of other network infrastructures, not just the
- Figure 10 shows a payment system and a person-to-person payment wherein the nonmember user must request the offered payment upon enrollment, as described by the following steps.
- step 3 user A also receives an e-mail worded as follows: "Thank you for your referral. We have contacted your friend and invited them to sign up for our system.”
- A can send user B money.
- Embodiment 2 Personal Reserved Funds Viral — Existing members are allowed to set aside funds that are reserved for viral payments. For example, a user may set aside a certain number of dollars of the user's account to settle viral transactions. These funds will not be otherwise available to the user for use in nonviral transactions (e.g., spending by debit card). In an implementation, the user may change the reserved amount through a user account maintenance function.
- Embodiment 3 Conversational Viral — The complete viral lifecycle occurs in real-time with both parties being notified of the other's "steps" along the way. The ultimate funds transfer is then simply a transfer between two members.
- Embodiment 4 Promissory Viral — The existing member promises to pay the invited member if and when they register. The existing member's funds are reserved for the follow-up payment once the invited member registers.
- Embodiment 5 Split Funds Viral — The payment system incentivizes existing members to make viral payments by offering a funds split where the payment system matches the payment amount via fixed or percentage amounts.
- Embodiment 6 Request Funds Viral — Instead of the existing member sending funds to a nonmember, the existing member requests funds from a nonmember.
- Embodiment 7 - negotiation - Existing user A wishes to send funds to nonmember user B.
- A requests to send the funds using a suitable identifier for user B.
- User B is notified of the pending payment and invited to register as a member.
- user B is given the option of negotiating one or more terms of the transaction with user A.
- the negotiable terms can include the amount of the transfer, the bank in which the account will be established, a split of referral fees, and so on.
- user A is permitted to select which terms they would be willing to negotiate with user B, in part to encourage user B to register.
- An implementation of the invention can include any of the features described above.
- the above embodiments may be implemented individually or in combination with any other embodiment or embodiments.
- a specific implementation describes using a mobile telephone number as an identifier for a user.
- any identifier may be used for each user, such as any phone number (e.g., home phone number, work phone number, voice-over-IP phone number, fax, or pager), e-mail address, instant messenger user name, social security number, driver's license number, membership number, credit card number, debit card number, or others.
- phone number e.g., home phone number, work phone number, voice-over-IP phone number, fax, or pager
- e-mail address e.g., instant messenger user name, social security number, driver's license number, membership number, credit card number, debit card number, or others.
- FIG. 1 shows an overview block diagram depicting a mobile payment system between two or more persons utilizing the present invention.
- user A sends funds to user B via a unique identifier or ID.
- ID unique identifier
- Examples include phone numbers (e.g., land-line, voice-over-IP, mobile phone, pager, or fax), e-mail address, social security number, account number, license plate number, instant messenger username, and others.
- This identifier can be used to contact a user independently of going through the system of the invention (e.g., a phone number or e-mail address where a user can be contacted directly, without involving the system).
- Each unique identifier can be associated with only one user to ensure account and system security. User A can also provide details of the financial transaction, such as the amount to be transferred, or the form of the payment, or combinations of these, and a PIN number if requested to validate an account.
- the system identifies user A as a member, and, in some implementations, checks the PIN number, validates the account, and checks the balance for user A's account. In the event that user A's account lacks sufficient funds for the financial transaction, the system sends an electronic notification to user A advising insufficient funds. If user A's account has sufficient funds for the transaction, the system also notifies user B of the pending transaction via any suitable link, including mobile technology. Due to the immediate electronic notifications users A and B received, they will perceive that the financial transaction occurred almost instantaneously, or in real time or near-real time. [321] In an embodiment, the system may allow users to set preferences regarding acceptance of transactions.
- user B has selected an auto-accept setting (selected when a user registers on the system) for automatically accepting payments, the funds are transferred from user A's account to user B's account immediately. If user B has selected a manual-accept setting, the funds are transferred only after user B approves the transaction.
- the system can also include a setting for users to dictate that they will only accept transactions from specified members, or in the converse, they will not accept payments from specified members.
- At least some embodiments of the system can be configured to automatically cancel the transaction. In such an arrangement, the system then sends electronic notifications to both user A and user B notifying them of the canceled transaction. User B also has the option to decline the transaction, in which case user A is notified of the declined payment through electronic notification. [323] In the event user A has sufficient funds, and user B accepts the transaction, the amount is debited from user A's account and credited to user B's account. In some embodiments, depending upon the manner in which the accounts are maintained, completion of the transaction can be delayed due to delays inherent in the electronic financial transaction system.
- the steps in other implementations of the invention need not be exactly the same as the steps presented.
- the unique or electronic identifier is described as user B's mobile number for convenience of illustration.
- the identifier is not limited to user B's telephone number.
- the identifier can be user B's instant messenger username, email address, or any other suitable identifier.
- FIG. 11 shows an embodiment of a method for performing a transaction between a member with a card and an unregistered user.
- This flow includes the following steps: (1) Member A sends a "pay" request to the mobile payment service server with nonmember B as target. (2) The mobile payment service identifies source as member, validates member A's account, checks the balance and checks the PIN. (3) The mobile payment service identifies the target as a nonmember. (4) The mobile payment service notifies source member A of payment. (5) The mobile payment service notifies target nonmember B of payment. (6) (a/b) The mobile payment service debits member card account and credits viral pooled account. (7) (a/b) The mobile payment service records source member debit transaction and records target viral credit transaction. Steps 6 and 7 can be asynchronous server side threads. This means these actions in an embodiment occur asynchronously. The server requests the actions, but they are not necessarily performed by the server itself, so the completion of the actions is independent of the calling server process.
- Figure 12 shows an alternative method for performing a transaction between a member without a card and an unregistered user.
- This embodiment includes the following steps: (1) Member A sends a "pay" request to the mobile payment service server with nonmember B as the target. (2) The mobile payment service identifies member A as a member, validates his account, checks his balance, and checks his PIN. (3) The mobile payment service identifies the target as nonmember. (4) The mobile payment service notifies source member A of payment. (5) The mobile payment service notifies target nonmember B of payment. (6) (a/b) The mobile payment service debits member pooled account and credits viral pooled account. (7) (a/b) The mobile payment service records source member debit transaction and records target viral credit transaction.
- Steps 6 and 7 can be asynchronous server side threads.
- Figure 13 shows a method for performing a transaction between a no-card member and another no-card member.
- the flow for this embodiment includes: (1) Member A sends "pay" request for member B. (2)
- the mobile payment service identifies source A as member, validates account, checks balance, and checks PIN. (3)
- the mobile payment service identifies target B as member and validates account. (4)
- the mobile payment service notifies source member A of payment.
- the mobile payment service notifies target member B of payment.
- (6) (a/b) The mobile payment service records member A debit transaction and records member B credit transaction.
- Step 6 can occur using an asynchronous server side thread.
- Figure 14 shows a method for performing a transaction between a carded member and another carded member.
- the flow for this embodiment includes: (1) Member A sends "pay" request to the mobile payment service server with member B as target. (2) The mobile payment service identifies source A as member, validates account, checks balance, and checks PIN. (3) The mobile payment service identifies target B as member and validates account. (4) The mobile payment service notifies source member A of payment. (5) The mobile payment service notifies target member B of payment. (6) (a/b) The mobile payment service debits member A card account and credits member B card account. (7) (a/b) The mobile payment service records member A debit transaction and records member B credit transaction. Steps 6 and 7 can be asynchronous server side threads.
- Figure 15 shows a method for performing a transaction between a carded member and a no-card member.
- the flow for this embodiment includes: (1) Member A sends "pay" request to the mobile payment service server with member B as target. (2) The mobile payment service identifies source A as member, validates account, checks balance, and checks PIN. (3) The mobile payment service identifies target B as member and validates account. (4) The mobile payment service notifies source member A of payment. (5) The mobile payment service notifies target member B of payment. (6) (a/b) The mobile payment service debits member A card account and credits Member pooled account. (7) (a/b) The mobile payment service records member A debit transaction and records member B credit transaction. Steps 6 and 7 can be asynchronous server side threads.
- Figure 16 shows a method for performing a transaction between a no-card member and a carded member.
- the flow for this embodiment includes: (1) Member A sends "pay" request to the mobile payment service server with member B as target. (2) The mobile payment service identifies source A as member, validates account, checks balance, and checks PIN. (3) The mobile payment service identifies target B as member and validates account. (4) The mobile payment service notifies source member A of payment. (5) The mobile payment service notifies target member B of payment. (6) (a/b) The mobile payment service debits member pooled account and credits member B card account. (7) (a/b) The mobile payment service records member A debit transaction and records member B credit transaction. Steps 6 and 7 may be asynchronous server side threads.
- Figure 17 shows a method for registration of an unregistered user.
- the flow includes: (1) Member-to-be A submits registration request. (2) New member account is created. (3) Identity risk controls are checked for new member and account is updated accordingly. (4) Check for viral records associated to new Member. (5) (a/b) The mobile payment service debits viral pooled account and credits member pooled account. (6) (a/b) The mobile payment service records source viral debit and records target member credit. (7) Check for incentives applicable to new Member. (8) (a/b) The mobile payment service debits Incentive account and credits Member pooled account. (9) The mobile payment service records new member incentive credit. Steps 5, 6, and 7 may be asynchronous server side threads.
- Figure 18 shows a method for activating a card issued on the member's account.
- the flow includes: (1) Member A receives card in mail and calls the mobile payment service IVR to activate. (2) During IVR interaction the mobile payment service closes no-card account. (3) (a/b) The mobile payment service debits member pooled account and credits new member A individual card account. (4) (a/b) The mobile payment service records member A pooled debit transaction and records member A credit transaction. (5) The mobile payment service system sends closing no-card activity statement email to member A. Steps 3 and 4 can be asynchronous server side threads.
- the system handles near proximity electronic payments, such as through the use of NFC, Bluetooth, RFID, infrared beam, LED beam, or other near proximity technologies.
- members A and B are physically near each other and wish to perform an electronic payment. This can be a consumer-to-consumer or consumer-to-merchant scenario.
- the transaction can be a send funds, get funds, or any other money transfer scenario.
- a basic flow of such a transaction is: (1) Users A and B agree to a near proximity electronic payment transaction. (2) User B selects "make ready for near proximity receive.” Device queries for PIN, user B enters PIN, device activates receive mode. (3) User A selects "make ready for near proximity send.” Device queries for PIN, User A enters PIN, device activates send mode. (4) Users A and B place devices within suitable proximity range. Users A and B are allowed a limited amount of time to perform this step otherwise devices will timeout. (5) Devices of users A and B recognize each other and transmit payment information to each other. (6) Users A and B review confirmation dialog on devices and select "confirm.” (7) Payment transaction commences.
- the system allows multichannel and cross-channel transactions.
- payments may be requested from any of the available channels (e.g., mobile phone, instant messenger, e-mail, Web, debit card, WAP, SMS message, or dedicated mobile phone application) and the transaction may be directed to any of the available channels, in any combination.
- the available channels e.g., mobile phone, instant messenger, e-mail, Web, debit card, WAP, SMS message, or dedicated mobile phone application
- the transaction may be directed to any of the available channels, in any combination.
- someone may request payment from instant messenger to mobile phone, from web to mobile phone, from mobile phone to instant messenger, from WAP to instant messenger, from instant messenger to e-mail, from e-mail to mobile phone, from e- mail to instant messenger, from Web to SMS, from SMS to e-mail, or any other combination.
- the system may also be used to pay through payment terminals, interactive web sites, pay for services or media content through television (e.g., pay for on-demand movies by a cable or satellite provider), prepaid phones, and many others.
- a user may pay a merchant via instant messenger.
- the system may support payment to or through vending machines, parking meters, kiosks, pay phones, airline ticket kiosks, and many others.
- the mobile payment system does not permit an existing registered user to request payment from an unregistered user.
- a user is permitted to request payment from an unregistered user.
- Flow A below shows an implementation for performing a transaction between a registered user (user A) member and an unregistered user (user B).
- the transaction amount is debited from A's account and credited to B's account.
- user A identifies user B to the mobile payment system via user B's mobile phone number.
- user A can identify user B through other means, such as user B's e-mail address, instant messenger name, or other unique identifiers.
- These identifiers can be electronic identification identifiers or can be identifiers that can be used to identify user B even outside of context of the mobile payment system. In other words, the identifier is not necessarily unique to the mobile payment system (e.g., account number).
- step 2 the mobile payment system checks whether A's account has sufficient funds to cover the transaction.
- the mobile payment system can also perform a PIN and account validation or other validation steps to ensure A's account has not been suspended, has sufficient funds, and so forth. These steps have been omitted from the above flow to improve clarity.
- step 3 the mobile payment system notifies user A of insufficient funds via SMS messaging.
- user A receives this message via other techniques, such as email,
- SMS messaging or other forms of mobile communication.
- the user need not receive this message at all, such as the case when user A has decided and indicated to the system not to receive such messages.
- the flow can also be applied to an e-mail payment system or other payment systems, mobile, nonmobile (i.e., where a mobile phone is not involved in the transaction), or otherwise.
- step 4 the mobile payment system determines user B is unregistered and notifies user A of this.
- the system may allow user A to send payment to user B regardless of user B's unregistered status, and thus may skip this step.
- step 5 the mobile payment system places a hold on A's account for the transaction amount.
- the transaction amount is not debited from A's account until the transaction amount is debited in step 15.
- unregistered user B is sent a message by the mobile payment system requesting user B's registration with the system.
- This message may be sent to user B's mobile phone via SMS messaging, email, MMS messaging, instant messaging, or other forms of mobile communication.
- step 7 user A is provided with the option of being able to cancel the payment before user B accepts it.
- the system can also be configured such that the payment is automatically void if more than 30 days have elapsed after User A sent the payment and before user B accepted the payment.
- the number of days after which a transaction is automatically canceled may vary. For example, the number of days may be any number such as 5, 10, 14, 15, 16, 21, or more or fewer days than 30.
- users A and B need not receive a message notifying them of the canceled transaction.
- the system creates an account for user B upon user B's registration. In another embodiment of the invention, the system does not require user B to register with the system and instead automatically links the system to one of user B's bank accounts.
- step 9 user B is sent a message regarding user A's request to send payment only after user B registers with the system.
- user B receives the message regarding user A's payment without having to register with the system.
- step 10 of the current embodiment user A is sent an SMS message regarding user B's cancellation of the transaction.
- the system sends user A a different message, which can be sent via other forms of mobile communication.
- B is given the option to change or modify the transaction in some way.
- user B is provided with a 'yes' button, a 'no' button, and a 'request change' button.
- the request change button can be referred to as a negotiate button, because user B is given the opportunity to negotiate with user A by being offered the opportunity to change one or more terms of the transaction.
- step 12 if user B requests a change in the transaction, user A is sent a notification regarding the proposed change. User A is given the ability to accept or reject user B's proposed change. In an embodiment of the invention, user A may have elected to automatically decline proposed changes in his initial setup with the system. Then, user B may be sent a message of user A's automatic declining the change. If user A declines the change, whether manually or automatically, user B may be given the option to send another proposed change to user A, or user B may be given the opportunity to accept the original transaction. These steps may be repeated as necessary until agreement is reached, or the transaction canceled. If agreement is reached, the process advances to step 13.
- step 13 the mobile payment system checks user A's account again to verify funds, and, if appropriate, notifies user A of insufficient funds via SMS messaging.
- user A may receive this message in other forms, such as email, MMS messaging, or other forms of mobile communication or may not receive this message at all. If user A's account has sufficient funds, the process advances to step 14.
- step 14 user A is sent an SMS notification similar to a receipt notifying him that the transaction was completed.
- user A is sent a notification in other forms, such as through email, instant messenger, MMS messaging, or other forms of mobile communication.
- Some embodiments of the system also send user B a notification that the transaction has been completed, although in some embodiments no notices of completion need be sent.
- step 15 the money transfer takes place.
- the credit and debit transactions can but need not occur in real time.
- the transaction may take approximately sixty seconds or more to complete after a process is begun due to inherent delays in electronic funding systems.
- Flow B below shows another implementation of a method for performing a transaction between a registered user (user A) member and an unregistered user (user B).
- flow B is similar to flow A above. However, unlike flow A, flow B does not place a hold on the transaction amount in A's account (step 5 of flow A). In step 4 of flow B, since there is no hold on A's account and A's account is not debited, the money is available for user A to spend by mobile payment or debit card payment until the transaction amount is successfully debited from user A's account in step 6.
- step 5 user B is sent a message regarding the transaction and is asked to register with the system.
- step 6 the money is transferred.
- such transactions can be asynchronous threads that take approximately sixty seconds or more to complete after a process is started due to inherent delays in electronic funding systems. The amount of delay is indeterminate since various factors influence the delay. Generally, the delay is about 60 seconds, but if the power grid goes down, for example, the delay will be much greater.
- [362] In particular, payment processing of a system need not be performed in a synchronous manner. A certain amount of up-front request validation is done.
- the notifications sent to the consumer indicate that the request has been accepted and will be processed shortly.
- the asynchronous server side thread is started, to actually process the payment request.
- the asynchronous thread is performed after notifications are sent to the user. This gives the user quicker response regarding the transaction. It is possible the asynchronous part of payment processing may fail. For example, this may be because of insufficient funds due to simultaneous card usage. In the event of asynchronous payment processing failure, the user is notified.
- pooled accounts there are two types of pooled accounts, an (i) unregistered user pooled account and a (ii) no-card pooled account. All unregistered users funds are held together in the unregistered user pooled account. If user A is a no-card user who does not yet have an individual account, A' s money is held instead in the no-card pooled account. In another implementation of the invention, there is single pooled account for both the unregistered user pooled and no-card pooled accounts.
- A's and B's accounts are credited and debited in the pooled account, and the 'back room' banking transactions managed at the banking partner (partner handling the debit card) occur at the end of the day (or another specific time), typically collectively in batch with other system transactions.
- pooled account there is a single type of pooled account, where both unregistered users and no-card users reside. For transfers of money between such users, the money will stay within the same pooled account. In a still further implementation of the invention, there are more than two types of pooled accounts.
- step 9 after B registers, B becomes as a no-card user.
- B can send and receive money like a registered user. However, since B has not yet received his card, B cannot spend money via the card.
- user B's individual account is created within 24 hours of user B's successful registration. However, the account will have no money until it is activated in step 11 below.
- a no-card pooled account is not used, and the money is directly transferred from user A's account to user B's account.
- step 10 it takes typically about 7 to 10 business days to make a new card and for user B to receive it in the mail.
- user B receives another type of card, such as a credit card, or may elect to receive no card at all.
- step 11 upon user B's activation of his card, user B becomes a carded registered user and is no longer a no-card user. In an embodiment where a no-card pooled account is not used, there will not be a need to transfer the balance upon card activation.
- Flow C below shows another implementation of a method for performing a transaction between a registered user (user A) member and an unregistered user (user B).
- B After B successfully enrolls, B is notified that A wants to send B money. B is presented with a screen asking B whether to accept payment from A.
- the transaction amount is debited from A's account and credited to B's account.
- flow C is similar to flow A above. However, unlike flow A, flow C does not place a hold on the transaction amount in A's account (step 5 of flow A).
- flow C does not place a hold on the transaction amount in A's account (step 5 of flow A).
- the discussion above for flows A and B are applicable to flow C as appropriate.
- step 8 in the case where there are multiple pending payments, B may be presented with a list of pending payments and requested to indicate acceptance or rejection of each pending payment. If the asynchronous server side thread (e.g., step 12) should fail, both parties will be notified.
- Flow D below shows an implementation of a method for performing a transaction between a no- card user (user A) and a no-card user (user B).
- A Existing user A, a no-card registered user, decides to send some money to user B, a no-card user.
- A sends a message to the mobile payment system with B's mobile phone number and the transaction amount.
- the mobile payment system checks whether A's account has sufficient funds to cover the transaction.
- step 3 no hold is placed on A's account for the transaction amount.
- the transaction amount is not debited from A's account.
- the money is available for A to spend by mobile payment or debit card payment.
- user B can have a white list or black list set up.
- the white list states that B will accept payments from only specified users (which may be stored in the user's profile).
- the black list states that B will not accept payments from specified members (which can also be stored in the user's profile).
- Various implementations of the invention can have only a white list, only a black list, or both a white and a black list. Unauthorized or blocked senders, because of the white or black list, will be notified of the error after their attempted payment fails.
- Flow E below shows an implementation of performing transaction between a no-card registered user (user A) and a carded user (user B).
- Flow F below shows an implementation of performing transaction between a carded user (user A) and a no-card user (user B).
- Flow G shows an implementation of performing transaction between a carded user (user A) and a carded user (user B). If B declines the payment, the transaction is canceled and A is sent a message:
- Flow H shows a referral flow for unregistered users.
- User A is a registered user and user B is an unregistered user.
- A receives a referral bonus (e.g., $5) in his account.
- a referral bonus e.g., $5
- A resends a message to the mobile payment system with B's mobile phone number and the transaction amount. If yes, the transaction will be handled as a registered user to registered user transaction.
- the implementation can include a referral bonus (e.g., $5).
- the message in step 4 can include a notice to A that A will receive a referral bonus upon B's joining. After B registers in step 6, user A will be entitled to the referral bonus that is put into A's account (see step 8). Step 8 comes after step 6, but can occur before or after steps 7 and 9.
- referral bonuses can be paid only to the sender, only to the recipient, or to both the sender and the recipient.
- the money from user A can be automatically transferred to user B without user A's need to resend a payment transaction.
- the flow is: (1) User A (Member) sends User B (not a member) $X. (2) The system checks for user B, find out user B is not a member. (3) $X is labeled a pending in A's account. (4) B is notified that B is invited by A to join the system. An incentive of $Y + money sent by A are waiting to be collected.
- B chooses to sign up as a member and receives the $Y incentive immediately (already in the account). (6) B then receives a message indicating that a payment of $ X was received from A. (7) $X is deducted from A's account. (8) The pending Viral can be cancelled by A, yet the invite can still be processed. (9) If B does not accept the invite in certain period, the pending amount is then released back to the account
- the financial exchange system can notify users through multiple notifications per transaction, such as with SMS and with email, in specific cases. Examples of such cases include: upon new user registration, upon system card registration, upon sending or receiving a referral, upon credit/debit load, upon ACH/Direct-Deposit load or unload, upon eAllowance (i.e., bill pay) load, and upon account or profile data change.
- an aspect of the invention is a method including: receiving a payment instruction from a first user to pay a second user a specified amount, where the first user is a registered user and the second user is identified by a telephone number for the second user; based on the telephone number, determining that the second user is not a registered user; and sending a first electronic message to a device associated with the telephone number notifying the second user of the pending payment from the first user.
- the method includes: after sending the first electronic message, registering the second user and presenting the second user with an first option to accept the pending payment from the first user and a second option to reject the pending payment from the first user; when the second user selects the first option, debiting the money amount from a first account associated with the first user and crediting the money amount to a second account associated with the second user; and when the second user selects the second option, sending a second electronic message to the first user that the payment was declined.
- the second account is in a pooled account and when the first user is a no- card, registered user, the first account is in the pooled account, and the debiting and crediting includes maintaining the money amount within the pooled account.
- the second account is in a pooled account and when the first user is a no-card, registered user, the first account is in the pooled account, and the debiting and crediting includes not transferring the money amount outside the pooled account.
- the first user is a no-card, registered user, the first account is in a first pooled account and the second account is in a second pooled account, different from the first pooled account, and the debiting and crediting includes transferring the money amount from the first pooled account to the second pooled account.
- the first user is a carded, registered user and the second account is in a pooled account
- the debiting and crediting includes transferring the money amount from the first account to the second account in the pooled account, whereby the pooled account is increased by the money amount.
- the card associated with a registered can be a debit card, credit card, automated teller card, or any other physical card showing an account number. Using such a card, the first user can conduct transactions independent of the electronic device from which the payment instruction was sent.
- the method includes: receiving in addition to the payment instruction a sequence number generated by a device that sent the payment instruction; and after receiving the sequence number, generating a transaction number for the payment instruction.
- processing the payment instruction occurs only if the sequence number does not match any previously received sequence number stored in a database.
- the database can include received sequence numbers for a rolling time period, such as the last week, the last two weeks, the last month, the previous six months, or any other period of time, where the time period is generally established to ensure that a sequence number is not reused while the prior occurrence of that sequence number is still viable within the system.
- an expected sequence number is generated. Then the payment instruction is processed only if the sequence number matches the expected sequence number.
- the invention is method including: receiving a payment instruction from a first user to pay a second user a money amount, where the first user is a registered user and the second user is identified by a telephone number for the second user; based on the telephone number, determining that the second user is not a registered user; and sending a first electronic message to a device associated with the telephone number notifying the second user of the pending payment from the first user.
- the method includes: after sending the first electronic message, registering the second user and presenting the second user with an first option to accept the pending payment from the first user, a second option to reject the pending payment from the first user, and a third option to request a change to the pending payment from the first user; when the second user selects the first option, debiting the money amount from a first account associated with the first user and crediting the money amount to a second account associated with the second user; when the second user selects the second option, sending a second electronic message to the first user that the payment was declined.
- the method includes when the second user selects the third option, sending a third electronic message to the first user that the second user has requested a change in the pending payment.
- the method includes when the second user selects the third option, receiving a request from the second user to change the pending payment to have a different money amount, sending a third electronic message to the first user notifying the first user of the change to the pending payment, presenting the first user with a fourth option to accept the change to the pending payment or a fifth option to reject the change to the pending payment, and when the first user selects the fourth option, debiting the different money amount from an account of the first user and crediting the different money amount to an account associated with the second user.
- the method can further include, after determining the second user is not a registered user, placing a hold on the money amount in the first account. If a certain number of days elapses from the time the payment instruction was received, and the second user has not registered, the hold is removed on the money amount in the first account.
- the device is at least one of a smartphone, mobile telephony device, portable e-mail device, personal digital assistant, or computer.
- an aspect of the invention is a method including: receiving a payment instruction from a first user to pay a second user a money amount, where the first user is a registered user and the second user is identified by a telephone number for the second user; based on the telephone number, determining that the second user is not a registered user; and sending a first electronic message to a device associated with the telephone number notifying the second user of an attempted payment from the first user.
- the method includes: after sending the first electronic message, registering the second user, sending the first user a second electronic message to the first user that second user has registered, and presenting the first user with a first option to pay the second user the money amount; and when the first user selects the first option, debiting the money amount from a first account associated with the first user and crediting the money amount to a second account associated with the second user.
- the first account is credited with a referral bonus amount.
- the referral bonus amount can be any money amount, such as $5.
- the second account is credited with a referral bonus amount. Additionally, both the first and second user can receive referral bonuses.
- the method includes sending a second electronic message to the first user that second user is not registered user.
- the method includes: receiving in addition to the payment instruction a sequence number generated by a device that sent the payment instruction; and after receiving the sequence number, generating a transaction number for the payment instruction.
- Figure 19 shows overall system diagram of a specific embodiment of the invention. This is a schematic view of a specific implementation of a mobile payment system (i.e., Obopay). As previously stated, Obopay is provided merely as an example to illustrate the features of the invention, and the invention should not limited to this example. Obopay' s system has a debit-card backbone. A partner, Diamond Financial Products, is a partner.
- PBT Payment By Touch
- Bancorp Bank provides settlement accounts and has a relationship with PBT.
- Figure 20 shows a person-to-person payment between two individual carded accounts.
- Card refers to an Obopay member who holds a Diamond Financial Products debit card. This is a "card user” or “carded user,” which is in contrasted with a no-card user.
- a specific flow includes: (1) From Ul 's phone, a P2P payment of $5 to U2 is initiated. (2) Obopay sends the P2P request to Diamond (who in turn sends it to ECL and First Premier). (3) The amount $5 is debited from Ul 's debit card account and credited to U2's debit card account. (4) A $0.10 fee is deducted from Ul 's account and credited to a Diamond Financial Products bank account at First Premier Bank.
- Figure 21 shows a person-to-person payment between a card account and a nonmember account.
- a specific flow includes: (1) From Ul 's phone, a P2P payment of $5 to nonuser Vl is initiated. (2) Obopay sends the P2P request to Diamond (who in turn sends it to ECL and First Premier). (3) The amount $5 is debited from Ul 's debit card account and credited to the Obopay In & Out Account. (4) A $0.10 fee is deducted from Ul 's account and credited to a Diamond Financial Products bank account at First Premier Bank. (5) A record is entered in Ul 's "INVITATION" database table.
- Figure 22 shows a person-to-person payment between a card account and a no-card account.
- a "no-card" user is an Obopay user who has not yet received or activated their debit card.
- the debit card is not required.
- a specific flow includes: (1) From the phone, Ul initiates a P2P transaction of $5 to "no-card" user 01.
- Figure 23 shows a person-to-person payment for no-card to no-card.
- a specific flow includes: (1) From the phone, Ol initiates a P2P transaction of $10 to "no-card" user 02. (2) The $10 remains in the Obopay In & Out Account at First Premier. The $0.10 fee also stays in the In & Out Account. (3) Obopay records the increase in O2's balance and the decrease in Ol 's balance on the Obopay General Ledger.
- Figure 24 shows a credit card load.
- a specific flow includes: (1) From the web, Ul enters CC- Number to load $300 onto his Obopay Card. (2) Obopay obtains a $300 Authorization from Pay-By- Touch for the credit-card transaction.
- Obopay sends a message to Diamond initiating a $300 P2P from Obopay CC-Master A/C to Ul 'sdebit card. User is immediately credited with funds.
- PBT settles credit card transaction and sends a $300 ACH to Obopay's settlement account at Bancorp Bank.
- Obopay sends $300 ACH to Obopay CC Master A/C to replenish the funds.
- Figure 25 shows overall system diagram of another specific embodiment of the invention.
- the following flows 78 to 85 are related to the system implementation in figure 77.
- users will not be required to register for a debit-card account. These users will be called “no-card” users, and will hold virtual accounts. The funds will be held in a bank account (for the benefit of Obopay users).
- Figure 26 shows a person-to-person payment between a no-card account and a no-card account.
- a specific flow includes: (1) From Ol 's phone, a P2P payment of $5 to 02 is initiated. (2) Because both Ol and 02 are existing users, their funds are stored in the Pooled Account at Bancorp Bank. The $5 stays in the same account, minus a $0.10 fee. (3) Obopay's General Ledger reflects the change in balance. The amount $5 is debited from Ol 's account and $5 is credited to O2's account. (4) The $0.10 fee is transferred from the pooled customer account to the working capital account.
- Figure 27 shows person-to-person payment between a no-card account and a card account.
- a specific flow includes: (1) From Ol 's phone, a P2P payment of $5 to U6 is initiated. (2) User Ol 's account is debited $5.10. This change is reflected in Obopay's General Ledger. (3) Obopay (through communication to Diamond) initiates a P2P, transferring $5 from the First Premier In & Out account to debit-card U6. (4) In a night time batch, $5.10 (there is a 10-cent fee for sending money) is moved from the Obopay Pooled Account to the Obopay Working Capital Account at Bancorp.
- Figure 28 shows person-to-person payment between for a viral transaction to a nonmember.
- a "viral" payment is one where an Obopay member, card or no card, sends a payment to a non-Obopay users phone number.
- a specific flow includes: (1) From Ol 's phone, a P2P payment of $5 to Vl is initiated. (2) Obopay' s General Ledger reflects the change in Ol 's balance. $5.10 is debited from Ol 's account. (3) The $5.10 remains in the Pooled Customer Account. Fee is transferred later. (4) The viral transaction is recorded on Ol's "INVITATION" table in the Obopay database. If the viral payment expires, the funds will be returned to 01. (5) The $0.10 fee is transferred from the pooled customer account to the working capital account. This can be done in a night time batch.
- FIG 29 shows incentive funding. Incentive funding occurs when new obopay users are given a sign up bonus of $5 or any other amount. When the user signs up, this $5 will be reflected in the balance. Also, any funds virally sent to the user will be transferred into their account. A pending viral payment occurs when a non-Obopay user is virally sent funds they are held in the Customer Pooled Account. The payment is tracked in the senders "Invitation Table," a section of their own data profile. Viral payments are only "pending,” meaning the sender can cancel the payment.
- a specific flow includes: (1) Vl (recipient of viral funds, nonuser) signs up for Obopay at Obopay.com. (2) Account is created in Obopay database. (3) Users balance in Obopay GL now reflects $5 bonus and $10 viral payment.(4) Funds virally sent to Vl ($10 sent to user before signup) remain in Customer Pooled Account. (5) Database profile for original sender of viral funds is updated to "RFPAID" (referral paid). (6) In a night time batch, $5 is transferred from Obopay w/c account to the Customer Pooled Account.
- FIG. 30 shows credit card load.
- Credit card load is the process of loading funds into a Obopay account via a credit card.
- the Obopay working capital account is a bank account at Bancorp bank (or any other banking partner). This account contains Obopay working capital and is funded with Obopay working capital. This account is also used as settlement account for NYCE, PBT, and others.
- a specific flow includes: (1) Obopay user Ol goes to Obopay.com and initiates a $300 load from his Visa card to his Obopay account. (2) Obopay, using Pay-By-Touch as a processor, obtains a $301.50 authorization (including an approximate fee) for the credit card transaction. (3) The amount $300 is credited to Ol 's account in the Obopay GL.
- FIG. 31 shows ACH load.
- a specific flow includes: (1) From the Obopay website, no-card user 01 initiates a $ 100 ACH transaction to Obopay account from his DDA. (2) Obopay initiates an ACH debit against the users DDA. (3) Funds are transferred from users DDA to Obopay Working Capital Account. (4) Users account is credited with $100 in Obopay GL.
- FIG. 32 shows ACH unload.
- a specific flow includes: (1) From the Obopay website, no-card user Ol initiates a $100 ACH transaction to his DDA. (2) User Ol 's "available balance" is reduced by $100 in the Obopay General Ledger. (3) Through Pay-By-Touch, an ACH credit is posted to Ol 's DDA. (4) The ACH gets posted and $ 100 is withdrawn from the Obopay Working Capital account. (5) Users "current balance" is reduced by $100 to match the available balance. (6) The $100 is transferred from the Obopay Customer Pooled Account to the Obopay Working Capital Account.
- FIG 33 shows an ATM load.
- the load can be through any ATM institution such as NYCE, PLUS, STAR, and others.
- the ATM load is a NYCE load.
- a specific flow includes: (1) From the Obopay website, no-card user Ol initiates a $100 NYCE Load from his DDA. (There is a $0.99 fee to load money.) (2) Obopay submits and receives a $100.99 Authorization from NYCE. (3) Ol 's account in the Obopay GL is credited with $100. (4) In a night time batch, $100 is transferred from the Obopay working capital account to the Customer Pooled Account. (5) NYCE posts a $100.99 ACH credit to the Obopay Working Capital Account.
- Today's payment systems i.e., credit and debit cards
- Consumers may be charged with yearly subscription fees.
- Merchants are charged heavily with interchange fees. What is needed is a payment system available to consumers and merchants which has no signup fees, no subscription fees, and no transaction fees for either the consumer or the merchant. Yet, at the same time, the "processor" which runs such a system must be compensated accordingly.
- the invention provides a method for operating the payment transfer infrastructure as a closed loop payment system.
- a closed-loop financial transaction system facilitates payments without the substantial payment charges associated with closed-loop financial systems and has a high level of security for the holder, the merchant and others involved in the financial transactions.
- a closed loop payment system occurs where the components of the value transfer process take place under the control of the entity who owns the payment system. Because the owner controls the system, the underlying pricing is also under the control of the owner. In contrast, cash and checks are open payment systems where each participant sets their price for handling their piece of the transaction without a payment to a network operator.
- Figure 35 shows the transaction flow in a closed loop payment system.
- server 3503 accesses the T-ledger for the account holder associated with mobile device 3501 (as indicated by reference arrow 3505)and transfers the specified amount to a payee T-ledger (as indicated by reference arrow 3507) if certain velocity rules are met as indicated at 3506.
- server 3503 sends a notification message to the payee as indicated at 3509.
- the payer account holder receives a confirming message from server 3503 that the transaction has been completed.
- the entire closed loop system is owned by single entity.
- the system is primed or loaded by account holders who trade dollars for an account balance maintained on the payment server
- the primary advantage is that the owner of the system is able to control pricing to both the sender and receiver and there is an interest earnings opportunity on the funds loaded to the system.
- the payment system owner is able to earn interest on all funds in the system until they are converted or unloaded back to dollars. As more functions are added, the closed loop system becomes more profitable due to an increase in fees and balances.
- the value propositions for the participating account holder include:
- Safety the account holder's money is safely locked in mobile device instead of having to carry cash in a pocket or purse;
- the value propositions for the merchants include:
- the stand alone closed loop payment system of the present invention is designed to integrate with a companion bank account.
- This account can be a preexisting account or, for unbanked users, accounts can be created with the partner bank.
- the closed loop system maintains a user profile database that includes the account holder's name and demographic data, information used for underwriting the risk for each specific account holder and linked bank account information for accounts that will be used to load or unload funds from the prepaid debit account.
- the user profile database also requires a consumer facing and customer service facing website for collection of the enrollment data when accounts are opened.
- the present closed-loop system interfaces with the credit card interchange system to access credit lines available under a credit card account. Alternatively, or additionally in some embodiments, the present closed-loop system also interfaces with various ATM networks, as noted previously.
- the payment server maintains a "T" account record for each account holder.
- This account is a ledger that keeps track of each account holder's transactions and balances.
- the payment server provides history and balance data through the mobile device as well as a consumer and customer service facing web site.
- the present invention provides for three types of functions for different account holders.
- risk controls that can include deferred availability of transferred funds (for example a transfer from your bank account on Monday may not be used until
- This deferral time could be reduced with additional underwriting (running credit reports or obtaining financial statements).
- a reduction in deferral time can also occur due to the user having a good credit record with a partner carrier or guaranteeing payments with a credit card that is held in reserve. In some embodiments, this approach is less preferred due to the risk involved, although these risks can be minimized by the involvement of a carrier that can deliver some underwriting data and enough customers to justify the additional underwriting.
- a real time connection to the Demand Deposit Accounting (checking account) system enables the account holder to obtain balances and post transactions to their account in real time.
- Bancorp Bank operates the bank but all web sites, checks, and customer statements will carry an affinity branding. This approach will allow us to provide the affinity branding with a companion bank account (the account will be free to the user) in a tightly integrated environment.
- the present invention relates to a closed-loop financial transaction service having low or no transaction fees and improved security.
- An embodiment of the present invention encompasses a method for fast, easy transfer of payments between any peer or between a consumer and merchant.
- An implementation of the method includes a mobile telephony device, cellular telephone (cell phone), or similar device as the mechanism to access an account such as a prefunded debit account and authorize transfer of funds from that account to another party.
- Additional embodiments of the present invention encompass a variety of partners that include mobile phone operators, nationally branded merchants, and financial service providers together with a payment platform that provides a fast, easy way to make payments by individuals using their cell phones or other telecommunication device.
- FIG 36 shows a closed-loop financial transaction system in accordance with an embodiment of the present invention.
- consumers and merchants a group of two or more consumers or a group of two or more merchants can readily complete financial transactions quickly and securely for little or no transaction cost.
- POS terminal 3612 This example of a closed-loop financial transaction system utilizes a prefunded debit account and for this reason can comprise a point of sale (POS) terminal 3612 where traditional debit cards 3606 may be used as in the prior art system — by swiping the card at the magnetic reader 3613 associated with POS terminal 3612. Card 3606 provides a second view into the account holder's accounts.
- the POS terminal 3612 further includes a near field (NF) antenna and circuitry 3614.
- NF antenna and circuitry 3614 detect passive devices such as a NF enabled cell phone, a Bluetooth enabled cell phone or other short range transmission device, such as RFID or bar codes, associated with cell phone 3618.
- the POS terminal 3612 includes a cell phone connection that establishes a connection with transaction processor 3630 which is also variously referred to as payment server or server, upon initiation of a transaction.
- transaction processor 3630 includes one or more server farms or data centers capable of handling large volumes of simultaneous transactions. As is well understood in the art, such server farms are typically geographically dispersed and linked with the appropriate technology to maintain an accurate view of the real time status of all of the accounts.
- the POS terminal transfers the transaction amount directly from the POS terminal to the payment server for authorization by a cell phone connection 3615.
- the payment server 3630 calls the account holder's cell phone 3619 to confirm the transaction details.
- POS terminal may include only one or two of the magnetic reader 3613, NF antenna and circuit 3614, and cell phone 3615. It will also be appreciated that POS terminal 3612 is usually associated with a merchant.
- Person-to-person devices 3620 each comprise a cell phone that is linked to an account and an account holder.
- the request, authorization and confirmation of the transaction are all sent between payment server 3630 and the peers 3620 over a public network.
- public networks since one or more public networks are utilized, there is no interchange fee so cost to the participants can be either free or so cheap as to comprise a negligible percentage of the overall transactions conducted on the system, especially compared to the typical interchange fee.
- transaction requests are routed to a payment server 3630 over a public network.
- the public network 3625 is the Internet.
- the public network 3625 is the cellular telephone network.
- the public network 3625 is a radio network and in yet another embodiment, it is the public switched telephone network or PSTN.
- the public network 3625 transfers the account holder transaction requests to the payment server 3630.
- the connection over the public network 3625 is a secure link that relies on authenticated participants and encryption.
- the connection protocol can be, for example, HTTPS and the link can be a virtual private network or VPN.
- Payment server 3630 is also connected to linked deposit accounts 3635 either over the public network 3625 (not illustrated) or over a proprietary ACH banking or financial network.
- FIG 37 is a block diagram of a closed- loop financial system in accordance with an embodiment of the invention. More specifically, the simplicity of the present invention provides the ability to be ubiquitous and to provide great value to the account holders and merchants. As previously discussed, the present invention provides an inexpensive electronic financial transaction service for consumer-to- merchant transactions and for person-to-person transactions, as well as other financial transactions such as bill payment and the like. In some embodiments, this flexibility is provided in part by interfacing a consumer's cell phone 3702 to a POS terminal 3612. In one embodiment, the consumer enters their telephone number on a keypad associated with the POS terminal and when the transaction total is available, the merchant sends a PAY REQUEST to cell phone 3702 by way of an Internet connection 3706 and payment server 3704.
- payment server 3704 calls cell phone 3702 and requests the consumer to authorize the transfer of funds. The consumer then enters their PIN or other biometric identification and confirms the amount to authorize the payment. Payment server 3704 transfers the funds (plus any transaction fees) from the consumer's prefunded debit account and adds to the merchant's account the payment amount (less any transaction fees).
- cell phone 3702 includes a near-field communication (NFC) circuit, Bluetooth circuit or RFID circuit (not shown) that enables POS terminal 3712 to query and recover account information, such as the cell phone telephone number.
- NFC near-field communication
- Bluetooth circuit or RFID circuit not shown
- the merchant would automatically detect the account information and send the request to payment server 3704.
- the payment server 3704 would again call the cell phone 3702 to request the PIN or other biometric identification and payment authorization.
- FIG. 38 is a block diagram of the mobile client application (MCA) in accordance with an embodiment of the invention.
- the MCA resides on the cell phone 3802 and comprises user interface APIs 3802 and 3803 and a Payment API 3805.
- API 3802 provides the user screen images that guide an account holder through various financial transactions such as identifying the other party, the amount of the transaction, if any and the type of transactions that are available.
- API 3803 provides service providers or other value added partners (such as accounting or record keeping services) with a mechanism for accessing the payment API 3805 to acquire information to provide the value added services.
- the payment API 3805 provides, in one embodiment, the logic for implementing the present invention and for interfacing with the communication layer 3810 of the cell phone.
- One method for operating a payment transfer infrastructure in accordance with an embodiment of the present invention is as a closed-loop payment system.
- a closed-loop payment system occurs where all of the components of the value transfer process take place under the control of the entity who owns the payment system. Because the owner controls the system, the underlying pricing is also under the control of the owner.
- Figure 39 shows the transaction flow in the closed-loop payment system shown in figure 36. Specifically, for a person-to-person transaction, when a payment is made from a mobile device 3901 to another mobile device 3901, the request for the transfer is passed to the payment server 3903. The request is indicated by reference arrow 3904. Server 3903 accesses the T-ledger for the account holder associated with mobile device 3901 (as indicated by reference arrow 3905) and transfers the specified amount to a payee T-ledger (as indicated by reference arrow 3907) if certain velocity rules are met as indicated at 3906. Once funds have been transferred to the payee, as indicated by 3908, server 3903 sends a notification message to the payee as indicated at 3909.
- Figure 40 shows an exemplary fee structure for an embodiment of a closed- loop financial system in accordance with an embodiment of the invention. It should be understood that the fee structure may vary and that the illustration presents only one example of a structure for generating operating revenue. Due to the ubiquitous nature of the present invention, the transaction fees can be very low or free. Thus, as indicated at 4001 , for transactions under a certain dollar amount, the transaction fee is waived.
- the account holder sending incurs certain fees as indicated at 4002.
- the account holder incurs a transaction fee of $1.00, by way of example.
- a higher fee may be charged or negotiated. These fees are considerably less than the per-transaction fee charged by at least some credit card issuers.
- the transaction fee may be a nominal amount, such as a penny, $0.05, or $0.10, that is charged to the sender.
- the merchant may optionally offer to pay the transaction fee that would otherwise be charged to the consumer as indicated at 4003.
- the merchant is charged an additional fee to receive funds.
- the actual amount of the merchant transaction fee can vary but in one embodiment it is a nominal one percent of the transaction amount.
- a nominal monthly service charge is, in one embodiment, added to the billings for the cell phone user by the mobile service provider as indicated at 4004.
- the mobile service provider and the owner of the closed-loop financial transaction system of the present invention share the monthly service charge on a pro-rata basis.
- a member-supported payment system is provided to consumers and merchants without sign-up fees, subscription fees, or transaction fees to either consumers or merchants.
- the member payment system is a mobile payment system where consumers can conduct transactions using a mobile device such as a mobile telephone, smartphone, personal digital assistant, or similar portable wireless handheld device.
- Merchants will make a refundable one-time contribution. These contributions are stored in a pooled trust account by the system and the float dividends or interest on these contributions will fund the system.
- the member supported payment system provides a completely free payment system to consumers and merchants using the following principles: [464] 1. No signup fees for consumers or merchants
- the MSPS system manages the "T" account (i.e., balance, debits, credits) for consumer and merchant accounts.
- the invention is a method including: receiving a plurality of merchant contributions to fund a member payment system; placing the merchant contributions into a pooled trust account, where merchants will not receive interest on their contributions; permitting a plurality of consumers to become registered users of the mobile payment without charge; permitting registered users to load or unload funds into a working account of the member payment system without charge; and permitting merchants to load or unload funds into the working account of the member payment system without charge, where interest on pooled trust account funds the member payment system.
- Figure 41 shows a load trust operation in a member supported payment system implementation of the invention.
- Figure 42 shows a consumer registration in the member supported payment system.
- Figure 43 shows load and unload operations in the member supported payment system.
- Figure 44 shows a purchase transaction in the member supported payment system.
- the merchant contribution may be a paid in installments over a period of time.
- the merchant will have greater access or privileges in the system. For example, there may be set levels of contributions which correspond to a number of transactions a merchant will be entitled to without additional fee. Also, the merchant may make a subsequent contribution to increase the merchant's privileges.
- the member payment system permits a registered user to request payment of money to another register user via a mobile phone.
- the member payment system may permit a registered user to request payment of money to a merchant via a mobile phone.
- the member payment system may manage transactions records of the registered users.
- the member payment system manages transactions records of the merchants.
- the member payment system may manage transactions records of the registered users and merchants. This will reduce the costs to the merchants since they do not need to manage their own transactions records.
- the contribution is refundable, so the merchant can decide later not to participate. For example, when a merchant requests a refund of the merchant's contribution to the member payment system, registered users will no longer be permitted to transfer money to the merchant.
- the merchant is not charged a periodic recurring transaction fee for being a participant of the member payment system.
- the system is funded by the float on the pooled trust containing the merchant's contributions.
- Registered users may load or unload funds by way of at least one of Automated Clearing House
- ACH direct deposit account
- DDA direct deposit account
- the method includes: permitting a registered user to authorize paying a merchant through the member payment system by using a two-factor authorization scheme.
- These two factors of authorization may include (1) what the person has (e.g., phone, card) and (2) what the person knows (e.g., PIN, mother's maiden name, challenge question).
- the system may permit a registered user to authorize paying a merchant through the member payment system by using a mobile phone of the registered user and the user correctly entering a personal identification number or PIN.
- each registered user may also be provided a debit card.
- a debit card users may make charges without, for example, a mobile phone.
- the mobile payment system is configured to keep one general ledger for the virtual pooled account for each country. This reduces the settlement and operational costs of the system.
- virtual pooled accounts may be configured to be a representation of a group of pooled accounts where the selection of those pooled accounts for inclusion in a specific virtual pooled account is in accordance with any convenient parameter or group of parameters, such as banking partner, geography, country, size, and so on.
- a single virtual pooled account is implemented, or alternatively tiers of virtual pooled accounts are implemented.
- the virtual pooled account is essentially a large database wherein transactional records are maintained for the pooled accounts aggregated into that virtual pooled account.
- the owner of the virtual pooled account e.g., the mobile payment system service operator
- the recipient of the float on the virtual pooled account may distribute some amounts to the partner banks (who are no longer receiving the float on their general ledgers).
- a method for distributing the float funds is as follows:
- member 6504044762 was recruited by first bank Ci while member 4154443214 was recruited by third bank BA.
- the members are identified by phone number. Examples of phone numbers for the United States include 4158675309 or 2128675309.
- the phone number format may be entered excluding the area code, such as 7762323 or 5550123. For example, this may used the situation the recipient is in the same area code as the sender. The system would fill in the additional area code digits automatically.
- members can be identified by other types of identifiers, such as instant messenger user name, e-mail address, social security number, driver's license number, account number, and others.
- mobile payment system service will calculate the appropriate funds to be held in a partner bank. For example, it may be according to the following formula: X-partner bank plus a percentage of Y. The percentage will be negotiated at the time the bank partnership is established and will depend on the level of marketing spend. For example, for Ci, the mobile payment system service might put 10 percent of Y in the mobile payment system service account for Ci. The percentage may be any percentage such as 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, or others. The percentage may be a whole number or fractional number including 1.1, 1.2, 1.3, 1.5, less than 1, less than 2, less than 3, less than 6, and others.
- Figure 46 shows a method for speed shopping in accordance with an embodiment of the present invention.
- posters, newspaper advertisements, or television commercials include a mechanism for enabling a shopper to acquire specific details about a product that are displayed on the cell phone. This mechanism may include printed bar codes or a telephone number to dial in for information.
- a near-field communication is utilized to initiate the connection between the shopper and a remote merchant as indicated at 4601. Initiating the connection activates the MCA so that if the shopper decides to make a purchase, the MCA is awake and a connection has been established as indicated at 4602.
- the shopper can conclude a purchase transaction with the payment server handling the details such as "ship to" address and funds transfer.
- the product ordered will be delivered as indicated at 4604.
- the account holder has the option to select a "deliver to the current geographical location" rather than the account holder's billing address.
- This feature is of particular desirability when the account holder is traveling and desires to order from a room service menu but does not wish to speak to anyone.
- the menu would include a near- field communication device so the account holder would only need to select the Buy Request and the food would be delivered to the room where the account holder is located.
- Figure 47 shows yet another speed shopping features in accordance with an embodiment of the present invention.
- an account holder expects a periodically occurring payment for a product or a service.
- the account holder could set up a preauthorized account for such periodically occurring payments as indicated at 4701.
- the preauthorized account could include the type of product or service that can be obtained, as indicated at 4702, as well as the maximum allowable purchase amount to be preauthorized, as indicated at 4703.
- a NF antenna detects the account information on the phone and sends the transaction amount to the payment server which would send a confirmation back to the merchant without having to wait for the consumer to verify and specifically authorize the financial transaction as indicated at 4704.
- This feature is also an important method for speeding up the purchase process for time critical financial transactions, such as when a commuter wishes to pay for a subway ticket using their cell phone as they walk through a turnstile.
- the preauthorized amount may be deducted in real time or processed as a batch financial transaction, for example, on an hourly basis. [498]
- the merchant may be notified of the preauthorization in advance of expected use.
- the telephone number may be placed on a "green list" which indicates that the merchant can accept payment without verification from the payment server.
- the green list is stored at POS terminals or is accessible to POS terminals from a local server rather than from the transaction server.
- the telephone number may be placed on a "red list" and prohibited from future use of the service.
- the red list can also be stored locally by the merchant at the POS or stored in a local server coupled to the POS equipment. If a telephone number is included in the red list, the merchant can accept an alternative form of payment. Alternatively, the server can deny the service and send a message suggesting that the account holder take this opportunity to recharge the account holder's account. The merchant can accept the recharge payment and collect the incentive fee, if any, for receiving the funds for recharging the account holder's account.
- the cell phone includes an externally visible bar code that can be scanned at the POS to both initiate and conclude a transaction.
- the bar code may be displayed on the screen of the cell phone and scanned in at the POS. Because speed and convenience is so important for many daily purchases, the bar code, together with the locally cached green list, enables merchants to accept the purchase "on the fly" and then submit the transaction in a batch mode at selected intervals.
- An advantage to the account holder is that if the cell phone is lost, the preauthorization can be quickly suspended either by accessing a web page to update the user profile or by calling customer service. If a phone is reported as missing, new green and red lists are immediately distributed to the affected merchants thereby limiting potential losses for the account holder and the merchant. Compare to the loss of a prepaid monthly transit pass that is lost — if lost, the entire value of the pass is also lost and the finder reaps the benefits of the find. Thus, the green and red lists are an effective tool in preventing fraud through theft of loss of the phone with respect to preauthorized accounts.
- SMS Short Message Service
- SMS is a mechanism for delivering short messages over mobile networks. It is a 'store and forward' technique for transmitting messages to and from mobiles. The message (text only) from the sending mobile is stored in a server associated with SMS transport system which then forwards it to the destination mobile at a later time. This means that if the recipient is not available, the message is stored and sent later.
- SMS used signaling channel as opposed to dedicated channels
- these messages can be sent/received simultaneously with the voice service over the mobile network.
- SMS is now a widely available mobile data service.
- SMS With SMS, an SMS aggregator routes the messages between the payment server and the account holder in real time and the funds are immediately available for use by the recipient. If the financial transaction includes another party, the server also uses SMS to communicate with the other party in real time again using the SMS aggregator.
- SMS is a particularly important mechanism when a nonaccount holder is the recipient of a payment transfer from an account holder.
- a problem for the nonaccount holder is the lack of the MCA embedded in their phone so SMS is a mechanism for communicating with the nonaccount holder.
- the MCA manages and inserts a transaction number that includes idemopotent keys that make the transaction number unique for data services SMS, HTTP, and HTTPS protocol messages but there is no transaction number when using manual SMS.
- An SMS mobile financial transaction system avoids the expense and problems associated with having a special chip (i.e., an integrated circuit device) added solely to support and enable financial functionality of a device. Adding additional components to a cell phone or other mobile device increases costs to the manufacture and support in the field. Costs are further increased if use of the chip requires licensing fees or other proprietary fees. Further, adding a chip to the cell phone increases power consumption and degrades battery life — both having negative consequences for mobile devices such as cell phones.
- a special chip i.e., an integrated circuit device
- SMS text messaging works well with most all types of cell devices and certain other types of mobile communication devices, such as portable digital assistants or PDAs
- SMS exposes unencrypted passwords or personal identification numbers (PINs) as well as balance information or details about the most recent transaction. Since anyone in possession of the phone can read the SMS message file and immediately know how to access the account of another, the present invention. Accordingly, in one embodiment, the present invention provides for the initiation of the financial transaction by way of SMS text message with a portion of the transaction concluded over a voice channel.
- FIG 48 is a system level illustration of a financial transaction carried out by at least one SMS messaging mechanism in accordance with an embodiment of the present invention.
- This transaction method is used where neither cell phone is Internet enabled. Further, neither cell phone lack an embedded MCA so SMS messaging is relied to handle the transaction.
- HTTPS refers to Hypertext Transfer Protocol over Secure Socket Layer, or HTTP over SSL and that the link is an Internet link. It will be further appreciated that the Internet connection provides a much richer user interface, is more secure and is easier to initiate and conclude a financial transaction.
- the MCA may adapt the transaction to use the HTTP protocol, a less secure transport mechanism. In this instance, the account may invoke software encryption before inserting the transaction information before sending it to the server.
- SMS Short Message Service
- the MCA utilizes the data services function to send binary SMS messages.
- plain text SMS messages are used to conduct financial transactions with special arrangements being taken to protect the integrity of the PIN. It will be yet further appreciated that the lack of the MCA further limits the UI capabilities so the user may derive limited satisfaction from the present invention but would, however, otherwise enjoy the full features and benefits of the present financial transaction system.
- the MCA selects the mode to transmit the financial transaction to server 4804 (also referred to as the transaction processor). For example, if an Internet connection is available, the transaction is conducted using a HTTPS link, which is a web protocol that encrypts and decrypts user page requests as well as the pages that are returned by server 4804. To use the Internet, the account holder merely enters in the transaction details onto a web page and selects "send" to initiate the transaction. If another party is involved and that party has a web-enabled device, the transaction details are provided on a web page. In this embodiment, server 4804 functions as a web server. [509] Typically, not all account holders have an Internet-enabled cell phone or device. Therefore, the present invention provides for other methods to conduct financial transactions from the cell phone. Such methods include the use of SMS data services, SMS plain text (both of which may employ a voice channel to transmit the PIN) or voice channel only.
- SMS message For an SMS capable cell phone, the account holder transmits an SMS message over SMS gateway 4802 to server 4804 to initiate a transaction from their cell phone 5206 as indicated by flow arrow 4810. Gateway 4802 relays the SMS message to server 4804 as indicated by flow arrow 4811. Upon receipt of the SMS message, server 4804 takes the specified action requested in the message and sends a reply SMS message to gateway 4802 as indicated by flow arrow 4812. Gateway 4802 relays the reply SMS message to cell phone 4806 as indicated by flow arrow 4813. This sequence of events may proceed for several iterations until a financial transaction is completed. SMS messages may be carried between phones and gateway 4802 by any circuit- switched or packet-switched network.
- a voice communication channel is established as indicted by voice channels 4815 and 4835.
- server 4804 may open up voice channel 4815 by dialing the telephone number associated with the account.
- voice channel 4815 is used is to obtain a PIN (received as either DTMF or voice data) to complete the verification process and authenticate the user as the account holder in response to an SMS message.
- PIN received as either DTMF or voice data
- DTMF refers to dual tone multifrequency, the signal a telephone company receives when a telephone's touch keys are pressed.
- the initial SMS message starts with a key word that provides the type of transaction requested — PAY, REQUEST PAYMENT, BALANCE, TRANSFER, or HELP.
- the key word would be either pay or request payment.
- the amount is entered with or without a decimal point.
- the target telephone number (or short code, e-mail address, or other identifying information) is entered. This information may be automatically obtained from the telephone directory of the mobile device.
- the account holder may enter in a message in a message field for display to the other party. In some circumstances, this message may be a null message.
- the account holder may also enter a supplemental message for record keeping purposes.
- a special code in the message field delineates the supplemental message to indicate that the text following the special code is private and not to be forwarded. Examples of representative special code may be */*/ or /-/ or other unique user-defined codes.
- the PIN is entered by the account holder and sent through a voice channel connection to the server to verify the SMS message.
- the PIN is entered in via the keyboard and may be any alphanumeric code.
- the PIN is then sent to the payment sever as a DTMF encoded message.
- the server receives the SMS message via the SMS text message communication path and the PIN through the voice channel.
- the call to the server may be made by the account holder or it may be initiated as a "call back" feature by the payment server in response to receipt of the SMS message. It is desirable that the PIN be sent as a DTMF encoded message to maintain security although in other embodiments, the PIN may be spoken by the account holder and converted by a interactive voice recognition software module operating on the payment server or another server (not shown) dedicated to the handling voice calls.
- SMS message is formatted by the user to include the type of financial transaction requested, that is, BALANCE (an acceptable short form of the request may be BAL or simply B), and the telephone number associated with their account, for example, 4081234567. Alternatively, the account number may be determined by using the Caller ID.
- BALANCE an acceptable short form of the request may be BAL or simply B
- the account number may be determined by using the Caller ID.
- server 4804 receives the SMS message, it initially checks the sequence or transaction number (see for example, Figures 54, 55, and 56). If the sequence number is correct, server 4804 dials the telephone number associated with the account and requests the user to enter a PIN.
- the PIN is included in the original SMS message so there is no need to call the account holder for verification. If the cell phone 1006 is sufficient configured with an MCA, it is possible to encrypt the password before including it in the SMS message. The MCA will use data services. The downside of using the SMS message to transport the PIN is that this secret number will be visible to anyone who has access to the phone and could lead to unauthorized use by a nonaccount holder.
- server 4804 handles the requested transaction.
- the user may elect to receive the requested information by voice response over voice channel 4815 or by return SMS message in which case server sends a message with the balance amount to gateway 4802 which in turn forwards it on to cell phone 4806.
- SMS message is formatted to include the type of financial transaction requested, that is, PAY and the recipient's telephone number (e.g., 6263456789), and the telephone number associated with their account, again for example, 4081234567. If the account holder's phone supports the MCA, then all SMS messages exchanged between cell phone 4806 and server 4804 may be encrypted for added security.
- server 4804 When server 4804 receives the SMS message, it initially checks the sequence or transaction number (if available) and proceeds only if the sequence number is correct or is indicated as unavailable in the account record maintained by the server. Server 4804 then receives and determines if the PIN is correct. If both the sequence number and the PIN are correct, server 4804 handles the requested transaction by debiting the account associated with the account holder (see e.g., Figure 43) and sending a confirmation SMS message to the account holder over gateway 4802.
- server 4802 also sends a confirmation message confirming receipt of the funds. If the cell phone is a mobile PDA or other IP enabled device, the message is sent by HTTPS and may be encrypted to ensure security. Encryption may be by any known method. [522] If recipient 4808 is an account holder with the MCA installed, the MCA may encrypt its messages before sending it to server 4804 and receive encrypted messaged from server 4804. [523] If recipient 4808 is an account holder but the cell phone does not support the downloading and execution of the MCA on the cell phone, then the messages from server 4804 will be in plain text.
- SMS message A downside of using the plain text SMS message to transport the PIN is that this secret number will be visible to anyone who subsequently gains access to the phone. This could lead to unauthorized use by a nonaccount holder unless the account holder takes the time to delete the SMS messages from their cell phone's mailbox. If recipient 4808 is not an account holder, then the SMS messages will also be a plain text message.
- SMS text messaging works well with cell phones and certain other types of mobile communication devices, such as portable digital assistants or PDAs
- SMS exposes unencrypted passwords or personal identification numbers (PINs) as well as balance information or confidential details about the most recent transaction. Since anyone in possession of the phone can read the SMS message file and immediately know how to access the account of another and the other confidential information, it is best to avoid using public SMS messages to transmit the PIN.
- PINs personal identification numbers
- the mobile devices include the MCA as a preexisting software module.
- the MCA is preferably downloadable from the service provider to cell phones that were not originally equipped with the MCA.
- the MCA enables significant enhancements to the use of the financial transaction system. The MCA is invoked, either directly by the account holder or in response to activation of the SMS text messaging feature on the mobile device.
- SMS text messaging to provide account holders access to the payment server from any SMS capable mobile phone or other SMS enabled device in an embodiment where the MCA is available.
- the account holder sends a text message to server 4804 using the existing text message capability on their phone.
- the functionality includes Pay, Request Pay, Balance, History, and Help invoked by using any of these features as a keyword.
- the account holder enters the keyword together with additional information in the body of the text message to construct a command that is then sent to the server.
- Access to the server may be by way of a toll free telephone number, a short code or an e-mail address, all of which identify the server to the SMS gateway.
- An example of a short code is 62729 which is used as the target phone number for their text message commands to the payment server.
- An example of an e-mail address is sms@obopay.com, which is the e-mail target for SMS text message commands sent to the server.
- each item has a space between it and the previous item.
- the keyword is not case sensitive.
- the mobile number can include area code plus mobile number with no spaces present in the mobile number.
- the account holder may enter a leading 1 or not on the phone number.
- a dollar sign is not required to be entered with the amount, but is allowed.
- the user can include a message with their payment.
- the MCA encrypts the message and sends it as a data services SMS message in binary rather than plain text.
- the PIN is sent in a second message by way of a voice call.
- the account holder would enter the command string shown in table D.
- server 4804 Upon receipt of the SMS message, server 4804 calls the cell phone associated with the SMS message to establish a voice channel to acquire the PIN.
- the PIN is sent to server 4104 over the voice communication channel 4815 — that is, the cellular network. In alternative embodiments, the PIN is sent over the Internet or POTS.
- the MCA determines the best method for sending the PIN such as by application SMS (data services) where the SMS message is encrypted and converted to binary (i.e., the message is not transmitted in plain text) or by voice channel using DTMF to maintain security.
- the PIN may be spoken by the account holder and converted by an interactive voice recognition software module operating on the server or another server (not shown) dedicated to handling voice calls.
- the PIN is encrypted by the MCA and included in a subsequent SMS message that is sent to server 4804.
- Server 4804 correlates the messages by matching the telephone number and the time each message was sent. If the PIN was sent in a message that was distant in time compared to the SMS message, the transaction may be rejected. If only one of the two messages is received, the transaction may be rejected. If, however, both the SMS message with the financial transaction details (minimum of at a keyword) and the PIN code are timely received and are verified, then the financial transaction proceeds.
- the MCA may invoke a module to encode the PIN into DTMF form.
- the DTMF is then sent by the MCA to the payment server along a voice channel connection established by the MCA.
- the module may be a Java API that generates the appropriate tones based on keypad input.
- DTMF refers to dual tone multifrequency, the signal a telephone company receives when a telephone's touch keys are pressed.
- the MCA provides a user interface (UI) on the display screen of the mobile device to guide the account holder for concluding the financial transaction.
- the account holder is guided through the process of constructing the SMS text message by the automatic insertion of the keyword, amount, target telephone number, password, and messages, if any.
- the SMS message may include the keyword, the amount, the target telephone number, and the password.
- the password would be visible to anyone controlling the mobile device.
- the present invention manages this problem by sending a message to the account holder to delete the sent message from the SMS log folder on the account holder's phone. The message may also suggest that the account holder to turn off message logging outgoing SMS messages when conducing financial transactions using the SMS feature in the future.
- the present invention also contemplates an embodiment using a JAVA APIs downloaded to the cell phone to conduct the financial transactions.
- the JAVA APIs generate user interface screens to guide the user in preparing the transaction request.
- the message format is similar to that illustrated in table C or table D.
- the JAVA APIs initiates a voice call using the cellular telephone connection to access an interactive voice recognition (IVR) module or DTMF interface on server 7104.
- IVR interactive voice recognition
- the JAVA APIs transmit the transaction request using DTMF tones.
- the JAVA APIs may also use a form of encryption so that the DTMF tones are not easily decipherable should they be surreptitiously recorded.
- the IVR provides a response to the transaction request, the response is also encrypted and then encoded using DTMF and transmitted over the voice channel back to the appropriate party. Due to the increased security aspects of the JAVA APIs, this embodiment is compared to sending plain text SMS.
- FIG. 49 shows a method for securing SMS based financial transactions in accordance with an embodiment of the present invention. More specifically, for mobile devices such as GSM cell phones, installing a MCA on the phone involves the physical insertion of a small circuit board, referred to as the encryption and transaction number generator or simply as generator, 4902 to intercept SMS message traffic.
- Generator 4902 comprises an electrical circuit that is inserted into the phone electrically connected to SIM card 4903.
- generator 4902 is a sleeve that is inserted around SIM card 4903.
- generator 4902 is a shim that is interposed between the cell phone's transmitting module 4904 and SIM card 4903.
- SIM card 4903 is the Subscriber Identity Module card, which is an electronic card that is inserted into a cell phone or other GSM, GPRS, or 3G based mobile device and identifies the subscriber to the network.
- SIM cards are most widely used in GSM systems, compatible modules are also used for UMTS UEs (USIM) and IDEN phones.
- SIM card 4903 contains the personal identification number of the subscriber, information such as the user's phone number, phone book, SMS messages as well as other information related to the subscriber.
- Generator 4902 intercepts incoming SMS messages looking for messages from server 1004 (see Figure 48). When generator 4902 detects an SMS message sent by server 4804, it functions in the manner of the MCA by decrypting the SMS data service message and presenting a plain text message for the account holder.
- Generator 4902 also intercepts outgoing SMS messages that are targeted to server 4804. Again, generator 4903 functions to provide the services of the MCA by adding a transaction number to each transaction and encrypts the SMS message. Because generator 4902 contains an embedded software module, it can send the SMS message as a data service SMS message rather than plain text. [549] Generator 4902 is intended to be sold or otherwise provided as a separate component allowing non-MCA equipped cell phones to reap the advantages of having the MCA resident on the cell phone. In other embodiments, SIM 4903 includes the generator 4902 as an on-board circuit and is provided to the user by the cell phone's service provider.
- Figure 50 shows use of a secure SMS aggregation server in accordance with one embodiment of the present invention where generator 4902 also redirects outgoing SMS messages to a secure SMS aggregation server 5011 rather than to the service provider's standard SMS server. Sending SMS messages containing financial transaction information to the secure SMS aggregation server minimizes the opportunity for data theft, reduces the occurrence of delayed or lost messages due to over loading at the SMS server 5010 and improves overall control over the messaging delivery system.
- Figure 51 shows a registration process for a new account holder in accordance with an embodiment of the present invention.
- one embodiment of the present invention invokes a viral form of new customer acquisition where the existing account holders bring in new account holders by simply sending funds to nonaccount recipients.
- the nonaccount recipient receives an SMS message stating that they have funds available and inviting them to register access to the funds as indicated at 5101.
- a web address is provided.
- Registration can occur at any bank partner or on-line at a web page accessed over the Internet as indicated at 5102.
- the registration process enables the recipient to open a prefunded (using the transferred funds) debit account. This process is similar to opening any other bank account except there is no minimum account balance so even individuals who do not qualify for a checking or savings account at a bank can participate.
- the new account holder has a "no card" restricted account as indicated at 1203.
- the new account holder has the ability to view the funds in their prepaid debit account in real time.
- the new account holder's account access to the funds are restricted pending completion of a OFAC report as indicated at 5104, where such reports are applicable.
- OFAC refers to the Office of Foreign Assets Control of the United States Department of the Treasury that administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries, terrorists, unapproved international narcotics traffickers, and those engaged in activities related to the unapproved proliferation of weapons of mass destruction.
- the account holder becomes a "no card" account, which means the financial institution can open a prefunded debit card account and order a plastic debit card sent the new account holder as indicated at 5105.
- the new no-card account holder has only limited availability of the funds.
- the new account holder can transfer funds to other individuals using the financial transaction system of the present invention but because of additional governmental restrictions, funds cannot be withdrawn or transferred to a merchant.
- a pooled holding account holds transferred funds if the recipient is not already an account holder.
- a ledger entry identifies (see figure 39) funds attributed to each phone number. These funds can be transferred to other accounts by the recipient if they register for an account. Because individuals cannot be compelled to register for an account, it is possible for the recipient to proactively refuse the funds or simply fail to respond. In such instances, the funds are returned to the account holder that initiated the transaction after the transaction window has expired (the transaction window may be a selected duration such as 30 days or 60 days) or immediately upon a proactive refusal.
- the transaction server may send periodic reminder messages to both the sender of the funds and the recipient. In other instances, the sender of the funds can stop payment if the recipient has not registered to gain access to the funds. This feature is important where the parties agree to cancel the electronic transfer and conclude the transaction in another manner.
- the financial institution requests a plastic debit card to be sent to the address of record for the new account holder.
- the account holder calls a toll-free telephone number to confirm receipt.
- the confirming telephone call also indicates that the address for the account holder is correct.
- the account holder also selects their PIN.
- the PIN is linked to both the card and to the telephone number of the account holder's mobile phone. Further the account number on the plastic debit card and the phone are locked together.
- the card can be used to withdraw cash from the account or to deposit cash into the account using any banking ATM. It can also be used at any merchant location where a POS device accepts credit and bank cards.
- phase III the account holder's account is fully enabled for use.
- the first tier of the tiered system 5200 includes a rules based engine and user selected components 5201.
- the second tier of the tiered system 4502 includes proprietary components that are not accessible or visible to the account holders.
- User selected components can include, for example, the ability of the account holder to customize security for their account.
- Account holders can link several cell phone numbers for family members that are authorized to access the prepaid account. For each designated phone number, the account holder can specify maximum spending limits on a daily, weekly, or monthly basis. The account holder can exclude certain merchants, account numbers or telephone numbers by creating a personal "black list" for the designated excluded parties.
- a specific black list implementation allows the account holder to designate wild card exclusions such as blocking transfer of funds to any phone having a particular area code or to any "900" or foreign number.
- the account holder may create a separate personal black list for an authorized user. This feature is particularly useful to control improper spending by cell phone equipped children. Any number of numbers or accounts may be included on the black list.
- the account holder can also specify certain merchants or telephone numbers that may be included in a financial transaction that involves one of the authorized users. All other merchants and telephone numbers may be optionally deemed to be on the personal black list. Again, this feature is particularly useful to control the spending of children by allowing purchases for transit, lunch, and school supplies but not for magazines or other novelties.
- the account holder can also preauthorize purchases at each of the merchants appearing on the white list while setting a per transaction limit on the other numbers on the white list.
- the account holder can customize a rules-based fraud detection mechanism which is also implemented at the first tier.
- the account holder can also specify the maximum amount for each transaction and the number of transactions that can be processed on a cell phone in a selected period.
- the account holder can also specify the maximum amount of funds that are to be deposited and retained in the prepaid debit account.
- the transaction processor 3630 sweeps excess funds to another designated account, such as a personal savings account, on a daily basis.
- the second tier of the tiered system 5202 includes proprietary components that are not accessible or visible to the account holders.
- the second tier 5202 includes a maximum spending limit based on historical averages, geographical verification, the historical number of daily transactions.
- Other rules based fraud detection and transaction frequency (velocity) control mechanisms are also implemented here as well.
- a fraud and risk rules engine controls risks by applying spending limits and determining the acceptability of requested transactions from a risk perspective.
- fraud detection systems are known and are often used to monitor for fraud when credit cards are used.
- the information collected for each financial transaction can be mined for use by merchant and consumer value added applications, by business monitoring applications, by system operations applications and security monitoring applications as well.
- FIG 53 shows a pooled account embodiment to minimize ACH and credit card interchange fees.
- the present embodiment utilizes a pooled prepaid debit account 5300.
- money is retained in the pooled account 5300 but is moved from one account holder's account to the other account holder's account.
- the transfer is immediate and does not incur any transaction fees for the system operator. For this reason, the account holder may be charged little or nothing for a transaction fee.
- account holders can add funds to the pooled account as indicated at 5302. Such funds can be deposited at a partner merchant that has agreed to accept funds from account holders which are then deposited into the pooled account. Alternatively, the account holder may utilize their plastic debit card at an ATM to deposit cash or checks, on the Internet by making an account transfer by telephone, or automatically as specified on the user profile page associated with each account.
- account holders may transfer funds out of the pooled account as indicated at 7103.
- the new account holder may withdraw such funds when they do not wish to retain a balance in their prepaid debit account.
- the system operator is an account aggregator and becomes the system of record in terms of risk and risk control.
- the system operator is also responsible for performing the OFAC compliance check.
- the system operator can be a bank, a financial institution, or can subcontract the pooled account management to another bank.
- near- field communication is used to communicate between mobile devices to conclude financial transactions using the infrastructure of the present invention.
- near-field communication is used to communicate from a mobile device to a POS terminal to conclude financial transactions.
- the mobile payment transfer infrastructure and method of operation, in accordance with the present invention, are effective tools in addressing these problems.
- the use of the mobile device to conduct financial transactions allows for a real time transaction that uses funds that are guaranteed to be available.
- the receiving party can verify the validity of the entity holding the funds and that the account has a sufficient balance to conclude the transaction.
- the account information (credit card number, debit card number or other account at a financial institution) need not be provided to conclude the transaction.
- the sending party uses a PIN code to identify the person with the phone.
- This authentication provides a high level of security because the payment server is able to identify the mobile device using caller ID and the person using the mobile device is identified by a PIN.
- the transferred in a secured manner and is not stored in the mobile device in a visible form.
- the transaction can be identified by a unique sequence number that is determined by the MCA and is sent as part of the command stream to the payment server.
- a history of used sequence numbers is maintained, so transactions with previously used sequence numbers will not be processed.
- the mobile device updates the sequence number with a new sequence number.
- the new sequence can be the old sequence number incremented by 1.
- the sequence numbers can be any number, including a random number.
- an algorithm can be used that creates either a predicable or a pseudorandom sequence of numbers. This sequence of numbers can be generated using a seed created from a hash function on information such as the telephone number, time of day, or other.
- the payment server is provided the initial sequence number and know the algorithm and see, so it can predict what sequence number should next. If the sequence number is not correct, then the server rejects the transaction. This can help prevent spoof attacks. [578]
- the sequence number helps prevent fraud and also avoids duplication of financial transactions, which can be due to communications protocol where transaction information is sent multiple times. This is similar to the situation where a fax machine tries to send a fax again if it has not received a proper acknowledgement.
- the authorization PIN is preferably a verbal code that is spoken into the mobile device and transmitted to the payment server for authentication using voice recognition software.
- Merchant transactions are preferably structured to use an active authorization where the account holder's phone rings with a message to approve the dollar amount transferred. Credit cards and checks can not operate with this level of interaction.
- the PIN code occurs in a first instance to open the MCA and initiate its operation.
- the same PIN code or, preferably, a separate PIN code is used for authorization of transactions over the network. This dual PIN code process is not available on credit cards, checks or even smart cards.
- the mobile device can be disabled and prevented from using the network to access the account.
- the mobile devices include an independent source of power to run physical devices, such as special purpose chips, and a secure case or housing that can house devices like smart chips.
- Mobile devices allow communication by voice and by data over the cellular network or over the Internet so voice verification and a PIN can be used in combination, or separately, to identify an account holder. Transactions can be initiated and verified by use of voice recognition technology and by data entered through a keyboard. In other embodiments, visual communication is provided through the use of a camera.
- location technology such as a geo-positioning system or GPS can determine the physical location of the device.
- location technology such as a geo-positioning system or GPS can determine the physical location of the device.
- the account user can be authenticated by asking for the PIN to be re-entered.
- location technology is that the services made available to the account holder can be adjusted based on where they are located. For example, discounts or special promotions can be sent along with the confirmation for a transaction whenever the location of the account holder matches that of the merchant.
- Figure 54 shows a mechanism and method for preventing fraud and multiple duplicate transaction requests in accordance with an embodiment of the present invention.
- the fraud prevention mechanism includes the storage of a sequence number in a register on each cell phone and at the payment server. Typically, as indicated at 5401 , the sequence number is initialized when the cell phone payment service is activated. At the same time, the same sequence number is initialized at the payment server and stored in a database with the account holder's other information.
- the payment server Upon receipt of a transaction request, as indicated at 5402, the payment server receives a sequence number from the cell phone and compares it with the sequence number held by payment server. If the sequence numbers match, as indicated at 5403, then the payment server authorizes the transaction to continue. The sequence numbers at both the cell phone and payment server are then updated to a new sequence number. This security mechanism is used to prevent spoofing attacks or cloned phones. The user is then requested to enter their PIN as indicated at 5405.
- sequence number By coupling the use of the sequence number with the PIN and the cell phone number, there is a three-level security blanket that authenticates the user (PIN), the phone number (detected by caller ID and linked to a specific account) and the sequence number to validate the transaction (prevents an intruder from attempting to capture a transaction and then resubmit duplicate requests for a transaction).
- the sequence number is also used to discriminate multiple attempts of the SMS system to deliver a transaction message from valid multiple transactions. [586] If the sequence numbers do not match, the payment server declines the transaction request, as indicated at 5406, and fraud prevention measures are activated, as indicated at 5407.
- the account can be frozen until a customer service representative can determine the cause of the mismatched sequence numbers. This can necessitate a phone call the account holder to see if they are still in possession of their phone and whether they had authorized the attempted transaction.
- Figure 55 shows another embodiment of the mechanism and method for preventing fraud and multiple duplicate transaction requests in accordance with an embodiment of the present invention.
- a user i.e., an account holder
- a mobile telephony device e.g., a mobile phone
- the user transmits a PIN at the time the transaction is initiated (Option A).
- the user does not transmit a PIN at time the transaction is initiated (Option B).
- the payment server receives the request from the mobile device to start the financial transaction.
- the server checks the caller identification (caller ID) number transmitted by mobile device to see whether mobile device is an authorized user of the system at 5514. If caller ID is not enabled on the phone, disallow the transaction as indicated at 5915. An error message can be shown to indicate the transaction was disallowed because caller ID not enabled. User can retry the request after enabling caller ID.
- caller ID caller ID
- the server must then send a request to the mobile device requesting the user to transmit a PIN, as indicated at 5516.
- This PIN can be transmitted via a keypad of the mobile device or voice (e.g., to an interactive voice response (IVR) unit of the server).
- IVR interactive voice response
- the server then checks the PIN transmitted from mobile device against PIN recorded in system to verify that the PIN matches the expected phone number as indicated, at 5517. If and only if the PIN matches, will the server allow the transaction to proceed. If the PIN does not match, then the transaction is disallowed, as indicated at 5518. [592] The server then receives a transaction number (also referred to as a sequence number) for the financial transaction from the mobile device. The transaction number can be sent at the time the transaction is initiated or later as part of the information transfer between the mobile device and the server. The transaction number includes idemopotent keys that make it unique.
- the server also checks the present transaction number from the mobile device against a listing of transaction numbers already previously used as indicated at 5519. This listing is stored in a database associated with the server. If the present sequence number matches any of the previously used sequence numbers, the user is not authenticated and the transaction will be disallowed, as indicated at 5520. This verification step is useful in preventing multiple copies of a message from being treated as a new and independent message. It also prevents hacker attacks where an hacker has intercepted a message and is attempting to resubmit an old transaction.
- the server also checks the transaction number as received from the mobile device against an expected transaction number stored at the server as indicated at 5521. If the sequence numbers do not match, the user is not authenticated and the transaction will be disallowed as indicated at 5521.
- the server only performs the transaction number verification as indicated at 5519. In other embodiments, the server only performs the transaction number verification as indicated at 5521. In other embodiments, the server only performs the transaction number verification as indicated at 5519 and at 5521. As long as the server determines that the sequence number from the phone has not been used before and/or is the expected sequence number, the transaction will be allowed.
- the sequence number can also be used as a unique transaction identifier.
- the server also stores the previous sequence number is stored or otherwise indicated at the server as a sequence number that has been used, as indicated at 5622. These previously used sequence numbers can be stored in a database on the server. If the server maintains an expected sequence number, the sequence number at the phone and server are incremented in preparation for the next transaction as indicated at 5623. The server then proceeds with completing the financial transaction, as indicated at
- a three-factor authentication technique authenticates based on the following factors:
- the above validation method presents some authentication steps in a specific order.
- An implementation of the invention performs the steps in the given order. However, in other implementations of the invention, they can be other steps includes or some steps can be omitted, or the order of the steps can be different from above.
- the caller ID, PIN, and transaction can order independent. Therefore, in an embodiment, the PIN can be checked before the caller ID. In another embodiment, the transaction number can be checked before the PIN. Furthermore, some steps above can be performed at the same time on different processors or processor cores in a parallel processing implementation.
- a system of the invention can omit one or more of the authentication techniques listed above. For example, the caller ID can not be authenticated, so then a two-factor authentication approach will be used.
- a traditional model for two-factor authentication is based on (1) what you have and (2) what you know.
- a first factor is something a user has such as a mobile phone, personal digital assistant, smartphone, or plastic card.
- a second factor is something the user knows such as a personal identification number (PIN), mother's maiden name, street address, social security number, driver's license number, or home phone number.
- PIN personal identification number
- Whether a three-factor or two-factor authentication is used can depend on the communication channel used by the mobile device and server. For example, when SMS or data services SMS is used, caller ID is available and a three-factor authentication can be used. However, when HTTP or HTTPS is used, caller ID is typically not available and a three-factor authentication will not be used. There can be additional factors used to authenticate an account holder or user, so the technique can have more then three factors. Further the third factor of authentication can be managed by client side and server side software components.
- step 6 If option A, once caller ID is validated, proceed to step 6. If option B, once caller ID is validated, the server sends a request to the mobile device for the user to transmit a PIN. This PIN can be transmitted via a keypad of the mobile device or voice (e.g., to an interactive voice response (IVR) unit of the server).
- IVR interactive voice response
- the previous sequence number is stored or otherwise indicated at the server as a sequence number that has been used. These previously used sequence numbers can be stored in a database on the server.
- the initial transaction number can be (Ia) or (Ib).
- the initial transaction number can be an integer number, such as 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, or other numbers.
- the initial transaction number can be a random number, such as generated by a pseudorandom number generator and a given seed.
- This seed can be a hash code based on a property or characteristic of the device. For example, the seed can be based on the telephone number, serial number of the device, property or stored value in an integrated circuit of the device, or real time clock value.
- the transaction number value will be changed from the initial or previous transaction number value to the next in sequence.
- the sequence can be any series, mathematical, pseudorandom, or other.
- the sequence can be finite, infinite, or repeating series. If a repeating series, the number of transaction numbers in the series before it repeats can be based on a number of binary bits used to represent the transaction number.
- the sequence can be arithmetic or geometric.
- a transaction number can be an incremented by 1 or any other value (or decremented by 1 or any other value) to obtain the next transaction number is sequence. If the transaction number is represented using eight binary bits, the sequence will repeat every 256 numbers. If the transaction number is represented using sixteen binary bits, the sequence will repeat every 65536 numbers. Therefore, the more number of bits that are used the longer the sequence.
- the sequence can be pseudorandom generated by a pseudorandom number generator.
- the sequence of pseudorandom numbers will be based on the starting seed value.
- the pseudorandom number can be represented using a floating point number.
- the floating point number can be stored using a binary floating point representation.
- the mobile device and server (where the transaction number of the mobile device will be authenticated against) both generate the next transaction number in sequence according to the same algorithm. If the mobile device uses an arithmetic series, the server will use an arithmetic series. If the mobile device uses a pseudorandom number series, the server will use a pseudorandom number series. The same seed used by the mobile device will be used by the server.
- this seed can be transmitted from the device to the server, or vice versa, or independently determined.
- the mobile device and server will each store respective transaction numbers.
- the transaction number on mobile device can be referred to as a mobile device transaction number.
- the transaction number on the server can be referred to as the server transaction number.
- Figure 57 shows an example of sequence number authentication.
- a consumer computer device e.g., telephony device, smartphone, or portable computer
- an enterprise application On the consumer computer device is a sequence number authentication (SNA) client software component.
- the enterprise application includes a sequence number authentication server software component. These components handle the authentication when the consumer device sends a transaction to the server. This authentication can be the third factor in a three-factor authentication approach.
- the client sequence number authentication component keeps track of an encrypted counter which starts out at a random nonzero value which is set during client side installation. Upon each transaction, the client SNA component increments the client counter value by a random nonzero value.
- the server sequence number authentication component keeps track of the "last received" counter values for clients based on client identifier. If the incoming client counter value is greater then the last received value, then transaction is accepted. The counter value is stored and the transaction is acted upon. Otherwise, if the counter value is not greater than the last received value, the transaction is invalid and the account can be suspended.
- This implementation is merely one of there are many possible variations of sequence number authentication.
- Figure 58 shows another example of sequence number authentication.
- a rich client or a thin client can be used.
- Examples of a rich client include an application or program running on a mobile phone, smartphone, portable computer, or other electronic device.
- the application or part of an application can be written in a programming language such as J2ME, BREW, or .NET CF.
- the application can be a specific application for mobile payments. An example of such a program and accompanying user screens is described elsewhere in this application.
- the functionality can be part of another program, such as an instant messenger program, real-time Internet chat program, file transfer program, music player program, video player program, file sharing program, bill paying service interface program, or bill splitting program.
- an instant messenger program e.g., AOL Instant Messenger, ICQ, Yahoo! Messenger, Microsoft Windows Live Messenger, Google Talk, or Skype
- the option to send a payment can be accessible using a right click of a mouse or though a pull-down or cascading menu.
- the recipient can be identified through user name, member name, phone number, member number, account number, or another identifier.
- the payment will be processed through the mobile payment service server.
- Examples of a thin client include a Web browser application, phone or other device with SMS text messaging, phone or other device with a WAP browser, or terminal emulation program.
- a stored sequence number will be stored persistently in a counter in the rich client.
- This stored sequence number can follow any arbitrary sequence such as sequential integer or binary counter (e.g., 1, 2, 3, 4, and so forth), a random sequence based on a known starting seed value, or sequence according to an equation, formula, or rule.
- the stored sequence number can be stored, for example, in flash memory, electrically erasable (E ⁇ 2) memory, nonvolatile memory, battery-backed memory, hard drive, or other memory.
- flash memory electrically erasable (E ⁇ 2) memory
- nonvolatile memory nonvolatile memory
- hard drive hard drive
- an idempotence key (called a sequence number in other implementations of the invention) is sent to the mobile payment system.
- the key will include a combination of member ID and the stored sequence number. This stored sequence number can be the next unused stored sequence number.
- the mobile payment system receives the rich client's idempotence key, the transaction is stored in a transaction table along with this idempotence key. In the transaction table, each idempotence key will be expected to be unique. So, if the mobile payment system receives another transaction with a previously received idempotence key, the transaction can be disregarded since it is likely a duplicate transaction or a security problem.
- the user's account can be flagged with a potential security violation for person to investigate. If a user has a number of such violations or a number of such violations over a particular period of time, then the account can be automatically suspended for pending investigation.
- the idempotence key when using a thin client, will include member ID, target ID, transaction amount, and time (or time stamp).
- the mobile payment system will receive this idempotence key and handle similarly to the situation when receiving a rich client idempotence key.
- a mobile payment system of the invention can work with different types of clients and each type of client can send different types of idempotence keys or sequence numbers.
- This embodiment has two different types of idempotence keys, but in other embodiments, there can be any number of idempotence or sequence number key types. For example, there can be three, four, five, six, seven, eight, or more key types.
- 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 can be a person-to-person money transfer or other value exchange transaction.
- the wireless transmission source can 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.
- the technique can also be used to prevent acting upon duplicate transmissions.
- the invention is a method including receiving an electronic request for a value exchange transaction, wirelessly transmitted from a user device; receiving with the electronic request a transmitted key associated with the electronic request; and determining whether the transmitted key exists in a transactions table. If the transmitted key is not in the transactions table, the transmission will be considered authentic. Therefore, the transmitted key and value exchange transaction are input into the transaction table, and the value exchange transaction is processed by the system. If the transmitted key is in the transactions table, the transmission is not considered authentic (or can be a duplicate transmission).
- the user device can be a mobile phone.
- the transmitted key includes an electronic identifier identifying a user that requested the value exchange transaction and a sequence number.
- the sequence number is stored at the user device and advanced to a next number in sequence before a next value exchange transaction is transmitted by the user device. Then each valid transmission should have a different or unique sequence number.
- sequence number can be stored in a nonvolatile or otherwise persistent memory at the user device, such as flash, electrically erasable (E ⁇ 2) memory, magnetic storage, or battery-backed memory.
- a nonvolatile or otherwise persistent memory such as flash, electrically erasable (E ⁇ 2) memory, magnetic storage, or battery-backed memory.
- the transmitted key can include a pseudorandom number, such as generated using a pseudorandom number generator using a particular seed value.
- the seed value will change each time a new pseudorandom number is generated, so a sequence of pseudorandom numbers will be generated.
- the transmitted key includes a first electronic identifier identifying a user that requested the value exchange transaction, a second electronic identifier identifying a user that is a target of the value exchange transaction, a value amount of the value exchange transaction, and a time associated with the value exchange transaction.
- the value exchange transaction can be sending money from a first user associated with the user device to a second user associated with another user device.
- the first user can request payment of a certain amount of money from the first user's account to the second user.
- the transmitted key is not displayed on the user device, so it will not be known to the user. This can be useful to prevent people who try to "clone" another user's account and using money in another user's account. If the transmitted key is displayed, another user can be able to more easily determine the next number in sequence, the function or equation being used to generate the keys, or other information that can help reverse engineering of the key.
- the transmitted key is encrypted to make it for difficult to intercept the wireless transmission of the key.
- the electronic request can be made via SMS text messaging service of the user device.
- the key can also be transmitted using the SMS text messaging service
- the transmitted key can be generated or obtained differently, such as by different functions.
- the key can include different information.
- the key can include first information when the user device sends the electronic request using a first application client and the transmitted key comprises first information when the user device sends the electronic request using a first application client, which is different from the first application client.
- first information can be a key including a sequence number that is persistently stored.
- second information can be a key including a time or time stamp.
- a first application client can be a rich client, such as a dedicated value exchange transaction service application executing on the user device (e.g., written in J2ME, BREW, or .NET CF) or instant messenger application.
- a second application client can be thin client such as an SMS messaging application on the user device, WAP browser on the user device, or Web browser on the user device.
- a second application client can be thin client such as an SMS messaging application on the user device, WAP browser on the user device, or Web browser on the user device.
- persistent stored value such as stored counter
- this is used in the key.
- time or timestamp can be used in the key instead.
- the system will be able to handle receiving different keys or different key types.
- processing the value exchange transaction can include generating a transaction identifier number for the value exchange transaction. This transaction identifier number will be generated by the system processing the request. An electronic message can be sent to the user device including the transaction identifier number. The transaction identifier number can be viewable on the user device. This allows the user to have a reference number for the transaction, so the user can discuss or inquire about the transaction directly with a customer service representation. This transaction identifier can be completely unrelated to the authentication key (which is generated at the user device).
- the transaction identifier can be generated by a banking partner handling the transaction.
- the key can be used in generating or creating the transaction identifier.
- the invention is a method including receiving an electronic request for a value exchange transaction, wirelessly transmitted from a user device; receiving a transmitted key associated with the electronic request; generating an expected key; comparing the transmitted key to the expected key; and if the transmitted key matches the expected key, processing the value exchange transaction.
- the value exchange transaction can be sending money from a first user associated with the user device to a second user associated with another user device, where the user devices a mobile phones.
- Generating the expected key can include evaluating a function or equation using a seed value stored for a user account associated with the value exchange transaction.
- the user account can also store information about the particular function or equation to use to generate the expected key. For example, some users can use one particular function to generate a key while other users use other functions. Different starting seeds are used for different users, and after each use, a new seed will be created for generating of the next key.
- the method further includes after evaluating the function, determining a next seed value in sequence and replacing the seed value stored for the user account with the next seed value in sequence.
- the user device has a counter that counts in a particular sequence and generates keys in this sequence using a particular function (e.g., pseudorandom number generator).
- a particular function e.g., pseudorandom number generator
- the server will know the expected key because it is stored in the user's profile and will also know the function to use to generate the key. If the expected key matches the transmitted key, then the user's request is authenticated.
- the function or equation used can vary or change per user or device, or even per use. The identification of which function or equation to use to generate the expected key will be stored someone in the system such as in a user's profile.
- the invention can include: retrieving from a user profile associated with the value exchange transaction a seed value; retrieving from the user profile information on a function according to which the transmitted key was generated; and evaluating the function using the seed value.
- a method of the invention can or can not include different function. In such as case, function information would not need to be stored in the profile.
- the value exchange transaction will not be acted upon.
- a user account associated with the value exchange transaction can be suspended to prevent further transfers of money since a security violation has occurred.
- the account can be flagged (e.g., display on a screen, sending an e-mail, sending an instant message) to a system administrator, who can investigate further.
- an automated e-mail can be sent the user to contact customer service because a security violation has occurred for the user's account.
- Processing the value exchange transaction can include: generating a transaction identifier number, different from the expected key, for the value exchange transaction and sending an electronic message to the user device including the transaction identifier number, where the transaction identifier number is displayed on the user device.
- the MCA is based on the Java 2 Platform, Enterprise Edition (J2EE), and boasts a simple, intuitive interface.
- account holders enter their request data — such as amount, phone number, or other account identity information such as an e-mail address or instant messenger ID of the receiving account, and PIN.
- request data such as amount, phone number, or other account identity information such as an e-mail address or instant messenger ID of the receiving account, and PIN.
- the MCA has different versions for different languages and is designed to run under Java 2 Mobile Edition (J2ME), dot Net
- .NET as well as WAP, BREW, Symbian, and SIM Toolkit or other mobile protocols and can be ported to platforms such as cell devices, PDAs or other mobile electronic devices.
- Java, .Net, Brew, Symbian and Sim Toolkit are believed to be trademarks of their respective owners.
- MCA is also available for phone operating system, including Nokia, Motorola, Samsung, Sanyo, and other common brands.
- the payment server sends a message to the account holder to start the application download.
- the account holder can use a WAP pull to send a message to the payment server to initiate the process;
- a user has a mobile device equipped with near field communication capability.
- the user can see a product or item he wants to purchase.
- the use puts the user's mobile device in proximity with a near field communication device associated with the product or item.
- the display of the mobile device inquires whether the user will approve a transaction to purchase the product or item.
- An aspect of the invention is a mobile payment system or service.
- This application discusses many specific embodiments and implementations of individual components and elements, variations and modifications of these, and combinations of these.
- a system of the invention can include any of the variations or specific implementations discussed, singly or in any combination.
- an example of a specific implementation of a mobile payment system is provided, and this specific implementation is the Obopay system.
- the Obopay system is merely one implementation of a mobile payment system and is discussed to describe more easily various aspects of the invention.
- the invention encompasses many mobile payment system implementations and is not limited to the specific implementations described.
- the mobile client application allows people to pay friends, shop, and transfer funds by their mobile device.
- An account holder can access the MCA to send money or request money from anyone with a mobile device that supports text messaging. They can also see the balance and history of their prepaid debit account in real-time.
- MCA supports the following features: Pay, Balance, History, Request Pay, Settings, Help. MCA can be used to send money from an account holder's account to any mobile subscriber whose device supports text messaging. The account holder sending the money needs to be an account holder; however the person or merchant to whom they are sending the money does not.
- the financial transaction can be initiated by either the payer or the payee. If the payer initiates the transaction, the MCA is used to initiate the transaction. To use MCA to send money from a prepaid debit account the account holder will go through a sequence of steps:
- MCA including Pay, Balance, History, Request Pay, Settings, and Help.
- the account holder can enter the phone number directly from the keypad.
- the account holder enters a short code to identity a desired merchant payee. Once the account holder has entered the mobile number they will select OK.
- the payee will receive a message that they have a new item added to their account. When they open the item they will see a transaction receipt with the following information:
- the MCA is used to initiate the transaction by requesting payment from the payer.
- An example of a payee initiated transaction is where a pizza delivery service dials the number of the person who ordered the pizza just prior to when the pizza is delivered.
- the account holder When the mobile device is answered, the account holder is given the opportunity to make the payment via the mobile payment infrastructure of the present invention.
- MCA including Pay, Balance, History, Request Pay, Settings and Help.
- the payment will be initially processed and the payee will receive notification of the payment. If there are no problems with the transaction, the account holder will not receive any further notifications. If any problems do arise with the payment (i.e., insufficient funds) both the account holder and the target payee will be notified. Notification regarding any problems with the payment will promptly occur after the payment is sent so that the parties can confirm the transaction.
- the MCA can also be used to by an Account holder to check the current balance of their prepaid debit account from their mobile device. To use MCA to check their balance the account holder will go through the following steps:
- the account holder will press enter to continue.
- the MCA can be used to by an account holder to view the history of their last n, where n is an integer number (such as, 3 or 5, by way of example), transactions and the current balance of their prepaid debit account from their mobile device.
- n is an integer number (such as, 3 or 5, by way of example)
- transactions and the current balance of their prepaid debit account from their mobile device To use MCA to check their history the account holder will go through the following steps:
- the account holder can link their account with accounting application software such that each transaction is recorded in a database for use in budgeting, planning, record keeping or for tax purposes.
- the account holder can add a second message that designates the payment, whether sent or received, according to the nature of the financial transaction. For example, when the account holder buys a meal while on a business trip, the second message can indicate that the transaction is a tax deductible, reimbursable expense.
- the charge is recorded by the accounting application software.
- the accounting application software can be provided by the server platform (See Figure 3) or by a software provider partner.
- the accounting application software can be a value added option where the account holder can pay a monthly charge to access.
- the MCA can be used to request money by an account holder from any other account holder's account. Both the account holder requesting the money and the account holder that they are requesting money from, should be account holders.
- the requesting account holder will go through the following steps. Open MCA on the requesting account holder's mobile device. This will take the account holder to the splash screen which displays the logo and tag line. The account holder presses enter to continue. This will bring the account holder to the main menu screen which displays a menu of the features of MCA including Pay, Balance,
- the account holder will select Request Pay to request a payment. This will take the account holder to the Send to screen where the account holder will enter the mobile phone number of where they want to send their payment request. To select a phone number in the account holder's phone book the account holder will select options (from the lower left soft key on the mobile device), and then find (from the options menu) which will bring up the account holder's existing phone address book and allow them to select a name in it. Once the account holder entered the mobile number they will select OK.
- Requestee [753] The Requestee will receive a message that they have a new item from the payment server. When the account holder opens the item it will open the MCA and will take the account holder to the splash screen which displays the logo and tag line. The account holder presses enter to continue. Then the account holder will be taken to the pay request where they will see the following information.
- the Payee will be able to either accept or decline the request for payment. If the payee accepts the request they will select the 'accept' soft key. If the payee accepts the request and a TIP request has been set by the requesting account holder accepting the request will bring the payee to a TIP amount screen where they can add a TIP. Once the input the TIP and select OK the account holder will be brought to the PIN screen. Once the payee enters their PIN and selects OK they will be brought to the confirmation screen.
- the confirmation screen includes the following information:
- the pay requestor will receive a notification regarding whether their payment request was accepted or declined.
- the notification will include the following information:
- Trans [776]
- the account holder can change default settings that are account holder configurable. Currently this includes changing the protocol (i.e., SMS or HTTP) that they use to send and receive payment information between their mobile device and the server. This can also include other account holder configurable information in future versions of the application. To change the setting on their MCA, the account holder would go through the following steps: Open MCA on the account holder's mobile device.
- the account holder will select Settings to change their settings. This will bring them to the settings screen where they can select the setting that they want to modify.
- protocol When the account holder selects protocol they will be brought to the protocol screen. The account holder will be able to select either HTTP or SMS on the protocol screen. By default their application is set to HTTP. To return to the protocol screen the account holder will need to select the back soft key. To return to the main menu the account holder will need to select the back soft key.
- the account holder will be able the view a Help screen from MCA. This will include a brief description of the application and instructions on where the account holder can go to get more help.
- the account holder would go through the following steps. Open MCA on the account holder's mobile device. This will take the account holder to the splash screen which displays the logo and tag line. The account holder will need to press enter to continue
- Obopay provides secure transactions through encrypting transactions at the network layer, the application layer and the transaction layer. For more information visit www.obopay.com
- Obopay to a new phone can also optimize the performance of the Obopay service.
- Cancel transaction [813] To cancel a transaction to a non-Account holder go to www.obopay.com/help and select cancel payment. Payments to account holders can only be canceled if the transaction was unauthorized (fraud).
- the MCA enables account holders to create an off-line profile that can be configured to auto respond when their mobile device is turned off or out of range.
- the account holder could configure their account to auto accept money deposits or auto accept withdrawals from specified account holders. If the account holder's mobile device is turned on, any offline transactions could be retrieved by calling into the payment server for a balance inquiry or a history request.
- the account holder could specify that account information be delivered by
- MCA and Platform wire protocol is used in conjunction with MCAP codec to serialize/deserialize data for communication between various devices running MCAs and the data center hosting J2EE-based services.
- MCA and Platform wire protocol specifies the format of serialized data passed between devices and data center.
- MCAP codec is the component on mobile devices and the data center handles serialization and deserialization according to MCA and platform wire protocol specifications.
- Figure 59 shows a simplistic illustration of the basic concepts. Please consult MCAP architectural documents for additional components involved in the infrastructure that are not illustrated here.
- a service request is initiated by the mobile device is the PaymentService.payP2P call. This function performs account holder to account holder payment, the Java method signature is: [830] public PaymentSummary payP2P(
- Figure 60 is an example that shows a successful invocation of the service call by invoking the Payments ervice. retrieveBalance call. This call retrieves the account balance for an account.
- PaymentService.retrieveHistory call As the name indicates, this function retrieves the transaction history of an account.
- object type (10) is now followed by an array indicator " ⁇ "
- this means that the return value is an array of objects of type 10, which means CommonTransactionSummary.
- Another device-initiated service request is the requestPay function that is used to request a payment from another member.
- the payRequestPay function is used in response to the requestPay call, this call approves the payment requested.
- Another function is the RegistrationService.whoAml function that establishes service with the data center and is called when the application is invoked for the first time.
- Another category of requests are those sent by the server, the characteristics of these requests are that (1) they are currently only sent by SMS; (2) they are usually notifications of events from the server to the devices; (3) there are no synchronous responses for such requests.
- the present invention has implemented the handler of such notifications on the device as "device services” with the same ServiceProxy signatures when methods on these "device services” are invoked from the server side.
- the codec and wire protocol are exactly the same as those requests initiated by the device.
- requestPay notifies member of a requestPay request.
- notifyRequestPayReceived notifies target of the request pay operation of receipt of request pay payment.
- MCAP MCA & Platform
- UI user interface
- the MCAP is written in a language that is easily ported to run on as many mobile devices as possible.
- the MCAP infrastructure expects certain functionality to be present on the mobile device. For example, the ability to display entry fields and capture account holder inputs is required.
- the ability to utilize the data services of the mobile device via programmatic HTTPS API invocations is also required if the ability to utilize the SMS text services of the mobile device via programmatic SMS API invocations is not available.
- the ability to utilize the persistent data services of the mobile device via programmatic API invocations For example, the ability to store data persistently on the SIM card or other nontransient memory is an optional functionality. Similarly, the ability to intercept inbound messages to the mobile device and "awaken" the MCAP for processing is also optional. This functionality provides, for example, the ability to intercept an inbound SMS message (on a specific port) and handle it by the MCAP.
- the ability to programmatically integrate with the "address book" of the mobile device such that a specific entry field can be "linked” to the address book is also optional.
- the ability to programmatically notify the mobile device account holder of notable events via sound, vibration, or light is optional.
- MCAP is modularized such that it is easily implemented on J2ME and proven on .NET as well as J2ME, BREW, Symbian, and .NET CF (Previously Windows Mobile)
- Figure 63 shows the High Level OMAP Design Layers for a mobile device.
- Figure 64 is a flow diagram that shows the OMAP Communication Design and the Request/Response encoding scheme that uses a single text string with delimited parameter/value pairs.
- Figure 65 shows OMAP Persistence Design utilizing the mobile device persistent memory mechanism and a state diagram that shows the OMAP User Notification Design.
- Figure 66 shows the OMAP Screen Palette for an embodiment.
- Figure 67 is a state diagram that shows OMAP Screen Transitions.
- Figure 68 shows a layout for the OMAP Main Menu.
- Figure 69 shows the OMAP Pay Screen Flow from the source perspective.
- the "pay money" feature can be called “send money” instead.
- Figure 70 shows the OMAP Pay Screen Flow from the target perspective.
- Figure 71 shows the OMAP Request Pay Screen Flow from the Source-Request perspective.
- the "request pay” feature can be called “get money” instead.
- Figure 72 shows the OMAP Request Pay Screen Flow from the Target- Accept perspective.
- Figure 73 shows the OMAP Request Pay Screen Flow where the target denies a request.
- Figure 74 shows the OMAP Request Pay Screen Flow where both the
- Source and Target accept a request.
- Figure 75 shows OMAP Request Pay Screen Flow where both the Source and Target deny a request.
- Figure 76 shows the OMAP Balance Screen Flow.
- Figure 77 shows the OMAP History Screen Flow.
- Figure 78 shows the OMAP Settings Screen Flow at the source.
- Figures 79 and 80 show the OMAP System Screen Flows. Specifically, Figure 84 shows the screen flow for the OMAP for an Unknown Mobile ID. Figure 85 shows the OMAP System Exception
- the interface between mobile devices and Electronic Wallet Platform (EWP) Service Proxy includes service components such as the Payment Service and the Registration Service and its high-level hierarchy of Exception objects.
- service components such as the Payment Service and the Registration Service and its high-level hierarchy of Exception objects.
- the business data transport classes that are returned from the service calls are also described.
- This business service is defined and implemented according to an application service infrastructure definition for the EWP.
- Payment Service comprises pass-through method calls to a partner bank system.
- the partner bank manages the official system of records, payment processing, and account and member information. Data managed within the EWP that is beyond what is necessary for integrating with the partner bank is for internal use only.
- APIs application programming interfaces
- payP2P - executes a account holder-to-account holder (p2p) transaction between two consumer members
- This method supports a call from a mobile device to make a payment to another member who has an account associated with a mobile device number.
- the transaction result is sent to the invoking member's mobile phone.
- a notification for receipt of money is sent to the recipient.
- transactionAmount String value that is the amount of payment to make to the receiving account.
- PaymentSummary container object that includes the target account number, payment amount, and available balance data. See PavmentSummary class description for more information.
- Method signature retrieveBalance
- This method supports a call from a mobile device to get the member's current account balance.
- the result is sent to the invoking member's mobile phone.
- devKey • String value that is usually the phone number of the account that is requesting its balance
- This method supports a call from a mobile device to retrieve the member's five most recent transactions and includes the current account balance in its history display. The result is sent to the invoking member's mobile phone.
- devKey • String value that is usually the phone number of the account that is requesting its transaction history
- TransactionSummary • an array of container objects that each includes the amount value, debit/credit/balance key, and timestamp of the transaction data. See TransactionSummary class description for more information.
- This method supports a call from a mobile device to either accept or decline a request for payment.
- the transaction result is sent to the paying member's mobile phone.
- a notification for receipt of money is sent to the recipient.
- payerDevKey String value that is usually the phone number of the account fulfilling the request for payment (same as source for payP2P)
- tgtDevKey • String value that is either the phone number of the account receiving the payment or a reference key used to identify a JNDI connection key to a device associated with the account receiving the payment
- paymentAmount String value that is the amount of payment to make to the receiving account.
- tipAmount String value that is the amount of tip payment to add to the transaction total
- transactionRef String value that is the transaction reference number from the original request for payment
- requestText • String that is the short note from the account holder requesting the payment to the account holder making the payment.
- PayRequestSummary container object that includes the transaction reference number, target account number, payment amount, and available balance data. See PavRequestSummary class description for more information.
Abstract
Description
Claims
Priority Applications (4)
Application Number | Priority Date | Filing Date | Title |
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CA002647636A CA2647636A1 (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system |
MX2008012504A MX2008012504A (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system. |
EP07853477A EP2008237A4 (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system |
BRPI0710021-3A BRPI0710021A2 (en) | 2006-03-30 | 2007-03-30 | mobile individualized payment system |
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US74401306P | 2006-03-30 | 2006-03-30 | |
US60/744,013 | 2006-03-30 | ||
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US60/744,930 | 2006-04-15 | ||
US87048406P | 2006-12-18 | 2006-12-18 | |
US60/870,484 | 2006-12-18 |
Publications (1)
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WO2008027621A1 true WO2008027621A1 (en) | 2008-03-06 |
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PCT/US2007/065721 WO2008027620A1 (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system |
PCT/US2007/065725 WO2008027621A1 (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system |
Family Applications Before (1)
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PCT/US2007/065721 WO2008027620A1 (en) | 2006-03-30 | 2007-03-30 | Mobile person-to-person payment system |
Country Status (6)
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US (3) | US20070255620A1 (en) |
EP (4) | EP2008237A4 (en) |
BR (2) | BRPI0710089A2 (en) |
CA (2) | CA2647602A1 (en) |
MX (2) | MX2008012504A (en) |
WO (2) | WO2008027620A1 (en) |
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WO2008027620A1 (en) | 2008-03-06 |
EP2013842A4 (en) | 2009-03-18 |
US20070255620A1 (en) | 2007-11-01 |
BRPI0710021A2 (en) | 2011-08-02 |
MX2008012503A (en) | 2008-12-12 |
MX2008012504A (en) | 2009-05-05 |
US20070255653A1 (en) | 2007-11-01 |
EP2013842A1 (en) | 2009-01-14 |
EP2407918A1 (en) | 2012-01-18 |
EP2008237A1 (en) | 2008-12-31 |
CA2647602A1 (en) | 2008-03-06 |
CA2647636A1 (en) | 2008-03-06 |
EP2407919A1 (en) | 2012-01-18 |
BRPI0710089A2 (en) | 2011-08-23 |
EP2008237A4 (en) | 2009-03-18 |
US20070255652A1 (en) | 2007-11-01 |
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