Money transfer system and method

A money transfer system using a money transfer instrument purchased at a retail location. The system includes a POS terminal for entering a UPC code carried on the instrument. The POS terminal issues a PIN in response to the UPC code, with the PIN printed on a receipt. The customer may enter the PIN on the instrument. The customer later uses the PIN to obtain a money transfer control number (MTCN) associated with a record of the transfer transaction from a money transfer host.

CROSS-REFERENCES TO RELATED APPLICATIONS

This application is related to U.S. patent application Ser. No. 11/132,710, filed May 18, 2005, which is hereby incorporated by reference.

NOT APPLICABLE

NOT APPLICABLE

BACKGROUND OF THE INVENTION

The present invention relates generally to the field of money transfers, and in particular to instruments that may be purchased at retail locations in order to facilitate money transfer transactions.

Present money transfer procedures typically involve an individual going to a money transfer location, such as a Western Union office, and giving the customer service representative a variety of personal information. This personal information may include the names and addresses of the sender and recipient, proof of identification, and the amount to be transferred. This information is entered into a money transfer system, and is used to create a record of the money transfer. After the money to be transferred has been collected from the sender, the sender notifies the recipient of the transfer. The recipient usually then goes to a separate money transfer location, such as another Western Union location, to pick up the money. The recipient may be required to provide a money transfer number and/or proof of identification, prior to picking up the money.

Present procedures often discourage some customers from using money transfer systems. People who frequently send money using money transfer systems find that they need to make frequent trips to offices or locations designated for money transfers. Each visit requires that the sender provide personal information to the customer service representative at the time money is deposited. Even if a person does not frequently send money, it can be a burden to transfer money, since the customer has to first locate a money transfer location, and then take the time to visit the money transfer office, and provide the necessary personal information.

BRIEF SUMMARY OF THE INVENTION

There is provided, in accordance with embodiments of the present invention, methods and systems for providing money transfer instruments that may be purchased at retail locations, with a personal identifier (e.g., PIN) issued at a POS terminal at the time of purchase in order to facilitate later completion of a money transfer request.

In one embodiment, a method includes entering the product information from a money transfer instrument at a POS terminal at the retail location, and in response to entry of the product information, issuing a PIN separately from the money transfer instrument at the POS terminal so that no PIN appears on the instrument prior to purchase. In order to complete the money transfer request, money transfer information along with the PIN is later provided to a money transfer host system. A control identifier, e.g., a money transfer control number (MTCN), is provided by the host system to the sender in response to the money transfer information and PIN. The sender may then provide the MTCN to a recipient for use in receiving the transferred money.

DETAILED DESCRIPTION OF THE INVENTION

Among other things, the present invention provides systems and methods for convenient transfers of money without a sender having to locate a money transfer office. Money transfers can be initiated by purchasing a money transfer instrument at a retail location, along with any other items being purchased at the retail location. As one example, money transfer instruments may be displayed for sale near the checkout lane of a retail grocery store, so that a person making grocery purchases may conveniently select a money transfer instrument and provide it along with other purchases/grocery items to the clerk for purchase at checkout. The customer need not go to a separate location or go to a money transfer representative to purchase the money transfer instrument. No personal information needs to be provided to the clerk to purchase the instrument, and the price of the instrument may be simply added to the total price of all items being purchased at the store.

It should be appreciated that the term “instrument” is used herein in its broadest sense, and may be implemented in many different tangible and intangible forms. For example, it could include (but is not limited to) a piece of paper, a folded card-like structure (as illustrated inFIGS. 1A-1C), a package, a smart card, a ticket or any other tangible item that may be selected by a customer and that bears product information (to be described below) that can be used to identify the instrument for purchase at a POS terminal. It could also be implemented in a virtual or intangible form, for example, product information that is displayed to a customer at a retail location, which information the customer takes and then presents to the POS terminal for purchase.

In one embodiment, the money transfer instruments each have a displayed face value or denomination, say $25, so that the customer knows the purchase price when the instrument is selected. A service or money transfer fee may also be displayed on the instrument, which may be added to the face value for the total purchase price. The instrument carries product identification (ID) information or data, e.g., in the form of a UPC code, that can be scanned and read at the POS terminal. Other forms of product ID could be employed, such as SKUs, printed product numbers and so forth, which may be manually entered by the clerk at the POS terminal, or product ID data electronically stored on a magnetic strip or smart card chip that may be read at the POS terminal. The instrument could also incorporate an RFID (Radio Frequency Identity) device that electronically transmits product data. The product data in each of these examples identifies the product and its purchase price so that a description of the money transfer instrument (and its cost) can, for example, be printed on a receipt along with any other items being purchased at the store.

In order for the customer to later complete the money transfer, a personal identifier is provided in response to purchase of the instrument. In some embodiments, the personal identifier is a PIN (personal identification number) printed on a receipt (or separately on another document) that can be later used by the customer, at a place and time convenient to that customer, to facilitate the collection of personal information by the money transfer system in order to fulfill or complete the money transfer request. As should be appreciated, the personal identifier or PIN could be any unique identifier (e.g., a string of numbers, letters or other characters) or set of identifiers.

The fulfillment of the money transfer request by the sender can be done in a number of different ways, to suit the convenience of the customer. In some embodiments, this can be done later (after purchase of the instrument) by the customer using a telephone (e.g., from the convenience of the customer's home) to call a money transfer provider and simply give the PIN and the necessary personal information (e.g., name of sender, name of recipient, pick-up location such as city, state or country, and so forth), to a customer service representative. Among other possibilities, the call could also be handled by an automated Interactive Voice Response (IVR) system using the key pad of a phone and/or voice responses in order to provide the PIN and any required personal information. In other embodiments, the customer (sender) can use a personal computer, PDA, wireless phone, WAP (Wireless Application Protocol) enabled phone or other terminal to enter required information at an internet website operated by the money transfer provider. In yet other embodiments, personal information could be entered at a self-service terminal (e.g., ATM) at a publicly accessible location. Of course, the personal information could also be presented in person at a money transfer office.

In embodiments where the customer has been given a PIN at the time of purchase, the PIN permits the money transfer system to later authenticate the customer and his purchase of the money transfer instrument when personal information is provided and the money transfer request completed.

In some embodiments of the invention, the customer (when fulfilling or completing the money transfer request) is provided with means to facilitate the receipt of the money by the recipient. This can be accomplished through the use of a control identifier, such as a money transfer control number (MTCN), which is provided to the sender after the PIN and personal information are provided to the money transfer system. As is the case with the PIN, the MTCN may also be any unique identifier (e.g., a string of numbers, letters or other characters), or could be a set of identifiers (e.g., that could be combined together to provide a unique identifier). The money transfer system generates the MTCN for the sender to provide to the recipient, e.g., when the sender informs the recipient that the money is available for pick-up. When the recipient then visits a money transfer location to pick-up the transferred money, the MTCN provides a convenient reference to permit a record of the transfer (including, e.g., the name of the recipient and the amount transferred) to be automatically retrieved at the money transfer location for cash payout to the recipient.

In some embodiments, the money transfer instrument purchased by the customer at a retail location is constructed to facilitate the use of the PIN and MTCN. For example, the instrument can be constructed so that upon receipt of the PIN (whether by being printed on a receipt or being provided in some other manner to the customer at the POS terminal), the customer may record the PIN on the instrument at a location that will be generally concealed from others. Likewise, when the same customer contacts the money transfer provider or system to complete the transfer request and receives an MTCN, that number can also be recorded on the instrument so as to be generally concealed from others, in order to minimize the risk of it being discovered and used by an unauthorized person.

Referring toFIGS. 1A,1B and1C, an exemplary money transfer instrument100is illustrated. The instrument100may be displayed for purchase at a retail location, such as a grocery store, convenience store, gas station, department store, etc. It is intended that instruments100may be offered for sale at any convenient retail location that a customer may visit to make purchases, so that the customer does not have to locate and make a separate trip to a dedicated money transfer office/station, or otherwise follow the traditional process used for depositing money for transfer.

The front side102of the instrument (FIG. 1A) is illustrated as having a face value (e.g., $25) printed prominently at a location104, along with a service fee to be included in the purchase price (the service fee is the fee charged by the money transfer system for providing the money transfer service). The front of the instrument may also include a logo106, as well as any other promotional or useful information (or graphics) for the customer to see when selecting the instrument100.

The back side108of the instrument (FIG. 1B) carries simple instructions/explanations109for the purchaser to see when purchasing the instrument (to become generally familiar with how the instrument works) as well as a logo106(or other promotional information) and a UPC code110. The clerk at the retail store may use an optical scanner at the POS terminal to read the UPC code in order to electronically retrieve product information or identification, including pricing information.

A slot120permits the instrument100to be hung from J hooks or the like at the retail store for convenient display to customers. As should be appreciated, the instruments may be displayed so that instruments having different denominations or face values ($25, $50, $100, etc.) may be selected by the customer. The UPC code110will correspond to the face value of the instrument so that the proper face value (and service fee) will be known to the POS terminal after the UPC code is scanned. In some embodiments, the instrument may not have a face value, but rather is loaded with any value chosen by the customer when the instrument is purchased. In such case, the clerk would not only scan the UPC code110, but also be prompted at the POS terminal to enter the amount of money that is being loaded onto the instrument by the customer. The clerk would then collect the purchase price (loaded value plus service fee) from the customer.

InFIG. 1C, the inside121of the instrument100is illustrated, and as seen the instrument has two portions (an upper portion124and a lower portion126, as viewed inFIG. 1C) that are joined at a fold line128. When folded, the instrument has the appearance seen inFIGS. 1A and 1B, and when unfolded (for example, to have access to the inside of the instrument), it has the appearance seen inFIG. 1C. When unfolded to reveal the inside as inFIG. 1C, the instrument has more detailed instructions130for the customer to use after purchase, both for the purchaser to use in completing the transfer request and for the recipient to use in receiving cash (e.g., at a money transfer office). The inside of the instrument also includes a PIN recording location132, an MTCN recording location134, as well as spaces136,138for entering the date of the transaction and the amount that the customer intends to transfer to the recipient (when a larger face value instrument is purchased, the purchaser may choose to initially transfer only a portion of the face value and later transfer the remainder to the same or a different recipient). While not shown, the instrument may have spaces for recording additional MTCNs, transaction dates and recipient amounts to facilitate record keeping in instances where not all of the face value will be transferred at one time. Thus, the instrument100could be used in a system where multiple transfers of money could be funded by a single instrument. Conversely, multiple instruments (and their PINS) could be aggregated for a single money transfer (receiving a single MTCN for several instruments).

Details concerning the system and method for generating and providing the PIN and MTCN will be described in greater detail later. Briefly, however, the PIN is generated at the time of instrument purchase, and may be provided to the customer on a receipt (seeFIG. 7), or read by the clerk or by the customer from a display at the POS terminal. If the customer wants to retain a record of the PIN with the instrument100(for later use when fulfilling the money transfer request), he or she may record it on the inside of the instrument at location132. If the customer receives a receipt (with the PIN) and chooses not to record the PIN on the instrument, then of course he may simply keep the receipt for later use when the PIN is needed (rather than writing it in space132). When the customer is ready to complete the money transfer request (at his or her convenience and after purchasing the instrument), the customer contacts a money transfer provider, provides the PIN (and personal information concerning the transfer) and in response receives an MTCN which can later be provided to the recipient and then used to claim the money at a money transfer office. When receiving the MTCN, the customer can likewise record it on the instrument100(at location134) so that all information concerning the transfer can be conveniently kept in one place.

It should be noted that the PIN and MTCN are recorded on the inside of the instrument100in order to keep them reasonably concealed when the instrument in folded. For added protection, the instrument may have a re-usable piece of adhesive tape, a locking tab or similar feature to keep the instrument securely fastened when folded (not shown). In such a way, the customer can be assured that the PIN or MTCN will not be easily seen and read by others who might otherwise try to access the instrument without the customer's authorization. Also, it should be appreciated that until the PIN is recorded on the instrument, the instrument does not display or otherwise carry the PIN. This prevents fraudulent use of the instrument prior to purchase, should it be removed from the retail location without paying for the instrument, by an unauthorized person who might otherwise attempt to use the instrument if a PIN were to appear somewhere thereon.

FIG. 2illustrates a system200to facilitate the purchase of instruments100, and to facilitate the completion of money transfers using those instruments.

As seen, the system200includes POS terminals210at the retail location where the instruments100may be purchased. For purposes of describing system200, it will be assumed that each of the POS terminals210are located at a single retail location (grocery store, convenience store, department store, etc.), and are connected through a single retail network212at that retail location, although it should be appreciated that other arrangements are possible, including the POS terminals being located at different stores or even at different stores across independent store chains operating within different retail networks.

In the embodiment ofFIG. 2, the retail store has a retail server216connected through network212to the POS terminals210. Among other things, the server216may handle centralized inventory, price look-up and other database storage and retrieval functions using a database storage device218. The retail server216is connected via a dedicated or public network (internet, PSTN, etc.) to a remote money transfer host230operated by an entity that provides money transfer services and manages money transfer transactions (e.g., Western Union). The money transfer host230, among other things, manages data stored in an associated database232that is used in connection with transfers of money. The money transfer host230may be accessed by money transfer representatives or agents through the use of remote agent terminals240(located, for example, at money transfer offices at locations remote from the host230). Only one terminal240is illustrated inFIG. 2, but it should be appreciated that there could in practice be many such agent terminals, located across a network of money transfer offices where customers may be depositing or receiving money.

In addition to the agent terminal240, the money transfer host230may also be accessed directly by customers through a customer interface system250(to be described in greater detail later).

The database232stores, among other things, records and data relating to money transfer transactions (completed or yet to be completed). It also stores PINs that may be issued to customers purchasing money transfer instruments100. For each type of money transfer instrument (e.g., for each instrument having the same face value), there may be associated one UPC code and a plurality of PINs stored in database232. This is illustrated inFIG. 3, which shows, as one example, two groups of PINs in database232, one group corresponding to a UPC code for instruments having a face value (denomination) of $25 and a second group corresponding to a UPC code for instruments having a face value of $50. While not shown, additional groups of PINs will be stored corresponding to each denomination, as well as each other instrument classification or category (e.g., determined by instrument brand, promotional theme, etc.). The PINs are stored in a database field310. The stored PINs are each also marked with a designator bit or data indicating whether or not the PIN has been assigned to a customer (“used”). The designator for each PIN is stored in a field312.

The PINs stored in database232are periodically assigned as needed to the retail server216(as well as other retail servers that serve POS terminals where instruments may be purchased), where they are in turn made available for issuance to customers purchasing money transfer instruments. Thus, either at regular intervals (e.g., at the beginning of each day) or upon request of the server216when its supply of PINs is low or depleted, PINs within database232are downloaded through host230and retail server216for storage in database218. Thereafter, when a UPC code is scanned for an instrument at one of the POS terminals210, the retail server provides a PIN corresponding to that UPC code to the POS terminal where, for example, it may be printed on a receipt after the purchase is completed. When a PIN is issued, the retail server sends a data indicator (along with the corresponding PIN) to the money transfer host database232to indicate that that particular PIN has now been issued or used (“Y” in field312if the PIN has been assigned). After the money transfer request has been completed by a customer and a MTCN has been issued, the PIN is normally no longer needed by the customer and the PIN may be designated as no longer used (“N” in field312).

Returning toFIG. 2, when the customer desires to complete the money transfer request (having purchased an instrument100at a retail location), the customer may access the money transfer host230through the customer interface system250. The system250may provide several different user interfaces for the customer to use. As mentioned earlier, one such interface may use a telephone network, with the interface system250employing an Interactive Voice Response system so that a customer may dial into the system250and then enter the PIN in response to a voice prompt. Other personal information may also be entered (sender/recipient names, dollar amount to be transferred, etc.) using a telephone keypad or other means. In response to the entry of the PIN and personal information, the host system creates a record of the money transfer transaction in data base232and assigns the MTCN for that record, which may be provided in an audio message to the sender.

Alternatively, the interface system250may include a web-based application, which the sender accesses using the internet and which provides instructions and data entry displays for entering the PIN and personal data, and in response provides the MTCN. Other methods for providing the PIN and personal data are also possible, such as sender visiting a money transfer office and providing the PIN in person (especially for customers who are uncomfortable using a telephone or web-based system).

While the money transfer host230(and its associated database232) inFIG. 2is described above as storing and managing both PINs and MTCNs, it should be appreciated that there may be more than one host. For example, PINs may be managed and stored at a separate PIN host (not shown) connected to retail server216, and money transfer host230may manage and store data for other purposes (including managing money transfer transactions, issuing MTCNs, etc). Further, while the embodiment ofFIG. 2illustrates the PINs as stored for use at retail server216(where individual PINs are then provided to the POS terminal), such PIN functions (e.g., providing individual PINs to the POS terminal) could also be performed at the separate PIN host or even at the money transfer host230.

Also, whileFIG. 2illustrates a plurality of POS terminals210connected to retail network212, retail server216and database218, it should be appreciated that at some retail locations (for example a small store having a single POS terminal), all the functionality described in connection with network212, server216and database218could be resident at the single POS terminal. Thus, the POS terminal would have sufficient memory to not only perform price look-up and similar retail functions, but also receive and store groups of PINs (from money transfer host230) and assign those PINs individually as instruments100are purchased.

Referring now toFIG. 4, a flow diagram illustrates one method for carrying out the operation of the system200(FIG. 2). The various steps of the illustrated process may be carried using software programs resident primarily at POS terminal210, retail server216and money transfer host230. At step410, the customer at a retail location has selected a money transfer instrument for purchase and has taken it to a POS terminal210at a retail store checkout lane. The LPC code on the instrument is read, step411, and after the customer has paid for the instrument (and other purchased items) a receipt is printed with a PIN that has been issued at the POS terminal (step412). Later, when the customer is ready to complete the money transfer request, the customer contacts the money transfer host or system (through the customer interface system250,FIG. 2) at step420and provides the PIN that was earlier issued by the POS terminal as well as necessary personal information concerning the transfer (step422). In response to the PIN and personal data, the money transfer host creates a record of the transaction and issues a MTCN, step424. When the customer is ready for the recipient to pick-up the cash, he provides the MTCN to the recipient (step430). The recipient then visits a money transfer office or agent, provides the MTCN (and any necessary identification) and is provided the cash (step432).

It should be appreciated that although not described in connection withFIG. 4, the recipient may receive value other than cash when presenting the MTCN. For example, the recipient may receive a stored value or other payment card, coupons for later redemption (at a store or other location), or directly transfer the monetary value to a third party for bill payment (utility bill credit card bill, etc.).

There may be additional features provided by the system200for transferring money, two examples of which are illustrated inFIGS. 5 and 6. As illustrated inFIG. 5the customer may want to make multiple transfers (to the same or different recipients). After step422(FIG. 4), if the customer requests multiple transfers (step510), the customer provides the amount of each transfer (along with personal data), step512, and then the host system230may issue a separate MTCN for each such transfer to take place, step514. Each MTCN is then later provided by the customer to the intended recipient.

InFIG. 6, the money transfer instrument may be re-used (i.e., reloaded), for example, after all the money associated with an instrument has been transferred. In such a case, the PIN associated with the instrument may be kept and re-used (rather than being marked as no longer in use in field312,FIG. 3). After the customer has accessed the money transfer host at step420(FIG. 4), the customer may be asked if he desires to reload the instrument (step610), and if so, he enters the PIN issued at the POS terminal and that was used for earlier transfer(s), step612. The system asks the customer for the amount to be reloaded onto the instrument, step614, which the customer provides at step616(using a credit card or other means for paying for the reloaded value). If the customer wants to then proceed with a new transfer and receive a new MTCN, the process returns to step424inFIG. 4.

In cases where a instrument is reloaded, the PIN remains associated with the instrument even after money transfers have taken place and the instrument's value is depleted. To prevent misuse, the host230can be programmed to permit PINs to be maintained only for a predetermined period of time (e.g., ending when the instrument remains un-used for a period of time, say six months, or after an established time limit, say one year from the date of original purchase).

FIG. 7illustrates an exemplary receipt that might be printed at POS terminal210in response to the purchase of a money transfer instrument100. As seen inFIG. 7, the receipt shows each of the items purchased (and its cost) at a retail location, including a description of the money transfer instrument (a $25 instrument in the illustrated example) and the money transfer fee ($5 in the illustrated example). Printed immediately below the description of the money transfer instrument and the transfer fee is the PIN to be used by the customer when completing the money transfer request.

While a detailed description of presently preferred embodiments of the invention have been given above, various alternatives, modifications, and equivalents will be apparent to those skilled in the art without varying from the spirit of the invention. Therefore, the above description should not be taken as limiting the scope of the invention, which is defined by the appended claims.