Patent ID: 8401906
Filing Date: 2013-03-19
Classification: G06Q

Abstract:
1. A method, for facilitating a financial transaction between a buyer and a seller, comprising: receiving, by a financial transaction authentication server, from the buyer via a buyer wireless communications terminal, a money transfer request identifying a financial account of the buyer, a financial account of the seller, and an amount to be transferred from the financial account of the buyer to the financial account of the seller; determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a buyer location being a location of the buyer wireless communications terminal obtained from a global positioning system associated with the buyer wireless communications terminal; determining, by the financial transaction authentication server, in response to receiving the money transfer request from the buyer, a seller location being a location of a seller wireless communications terminal obtained from a global positioning system associated with the seller wireless communications terminal; calculating, by the financial transaction authentication server, for use subsequently in connection with the financial transaction between the buyer and the seller, a geographical proximity threshold value, wherein: determining, in a proximity-analysis operation, whether the buyer location is within the geographical proximity threshold value of the seller location; and authorizing, by the financial transaction authentication server, in response to a positive result of the proximity-analysis operation, the money transfer request.