Patent ID: 11941592
Assignee: CAPITAL ONE SERVICES, LLC
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 18:
19. A virtual money order transaction system comprising:
a plurality of user interface devices, each user interface device being associated with a user and being configured for communication over a network, the plurality of user interface devices including a purchaser user device associated with a money order purchaser and a payee user device associated with a money order payee;
a virtual money order data processing system in communication with the network and including
a money order transaction data processor configured to
receive, from the purchaser user device via the network, a virtual money order purchase request, the purchase request including identification of the money order payee, a money order amount, and purchaser payment information,
generate a virtual money order accessible via a network address on the network, the network address being specific to the virtual money order and the virtual money order including unique redemption indicia,
transmit, to the payee user device via the first network, a money order notification including the network address,
receive from the payee user device via the network address, a request to view the virtual money order, and
allow access to the virtual money order by the payee user device, and

a money order redemption data processor configured to
receive a request to redeem the virtual money order, the request including purported redemption indicia, and
responsive to a determination that the purported redemption indicia matches the unique redemption indicia of the virtual money order, transmit an instruction to redeem the virtual money order; and

a transaction processor of a financial institution, the transaction processor being in communication with the network and configured to
receive, from the payee user device, the request to redeem the virtual money order,
transmit, to the money order redemption data processor, the request to redeem the virtual money order,
responsive to receiving the instruction to redeem the virtual money order from the order redemption data processor, transfer cash in the virtual money order amount to the payee.