Method and system for automated value transfer

Details Method and system for automated value transfer Method and system for automated value transfer

2005-08-15

2008-08-26

Paik, Steven S (Department: 2887)

Registers

Systems controlled by data bearing records

Credit or identification card systems

C235S375000, C235S379000, C705S016000, C705S017000

Reexamination Certificate

active

07416115

ABSTRACT:
This invention provides a system and method for authorizing automated value transfers from an account available to users who do not have a pre-existing trust, business or financial relationship. In an embodiment of the present invention, a Sender at a first location purchases a PIN Card at a point of sale, such as a retail location or a bank teller. The Sender contacts an intended Recipient at a remote location and discloses a Transfer PIN associated with the PIN Card, as well as the amount being transferred, to that intended Recipient. The Recipient needs only the Transfer PIN and a Cash Card to receive the money transfer at a participating remote location. To receive the value associated with the PIN Card, the Recipient inserts or swipes the Cash Card at an ATM and enters the Transfer PIN. An authorization system then authorizes the dispensing unit to dispense that value amount.

REFERENCES:
patent: 5175416 (1992-12-01), Manssvelt et al.
patent: 5287268 (1994-02-01), McCarthy
patent: 5504677 (1996-04-01), Pollin
patent: 5546523 (1996-08-01), Gatto
patent: 5650604 (1997-07-01), Marcous et al.
patent: 5744787 (1998-04-01), Teicher
patent: 5844218 (1998-12-01), Kawan et al.
patent: 5936221 (1999-08-01), Corder et al.
patent: 5937396 (1999-08-01), Konya
patent: 5963547 (1999-10-01), Downing et al.
patent: RE36365 (1999-11-01), Levine et al.
patent: 6045039 (2000-04-01), Stinson et al.
patent: 6076075 (2000-06-01), Teicher
patent: RE36788 (2000-07-01), Mansvelt
patent: 6098053 (2000-08-01), Slater
patent: 6149055 (2000-11-01), Gatto
patent: RE37122 (2001-04-01), Levine et al.
patent: 6302326 (2001-10-01), Symonds
patent: 6315195 (2001-11-01), Ramachandran
patent: 6317745 (2001-11-01), Thomas et al.
patent: 6424706 (2002-07-01), Katz et al.
patent: 6488203 (2002-12-01), Stoutenburg et al.
patent: 6510983 (2003-01-01), Horowitz et al.
patent: 6736314 (2004-05-01), Cooper et al.
patent: 6834796 (2004-12-01), Anvekar et al.
patent: 2001/0034682 (2001-10-01), Knight et al.
patent: 2002/0016763 (2002-02-01), March
patent: 2002/0035539 (2002-03-01), O'Connell
patent: 2002/0062285 (2002-05-01), Amann et al.
patent: 2002/0065666 (2002-05-01), Zorrila De San Martin Soto
patent: 2002/0077971 (2002-06-01), Allred
patent: 2002/0082962 (2002-06-01), Farris et al.
patent: 2002/0087462 (2002-07-01), Seifert et al.
patent: 2002/0128967 (2002-09-01), Meyer
patent: 2002/0152124 (2002-10-01), Guzman et al.
patent: 2002/0152168 (2002-10-01), Neofytides et al.
patent: 2002/0153414 (2002-10-01), Stoutenburg et al.
patent: 2002/0194080 (2002-12-01), Louric
patent: 2002/0195486 (2002-12-01), Erb et al.

Affiliated with

Also associated with

Rating

Method and system for automated value transfer does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Method and system for automated value transfer, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Method and system for automated value transfer will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-4003074