Patent Publication Number: US-2016224969-A1

Title: Systems and methods for facilitating a financial transaction

Description:
CROSS-REFERENCE TO RELATED APPLICATIONS 
     This application claims priority under 35 U.S.C. §119(e) to U.S. Provisional Patent Application Ser. No. 62/110,551, entitled SYSTEMS AND METHODS FOR FACILITATING A FINANCIAL TRANSACTION, filed on Feb. 1, 2015, the content of which is incorporated by reference herein in its entirety for all purposes. 
    
    
     BACKGROUND 
     The present invention relates generally to financial transactions. More particularly, the present invention relates to techniques for facilitating a financial transaction for a mobile device. 
     This section is intended to introduce the reader to various aspects of art that may be related to various aspects of the present disclosure, which are described and/or claimed below. This discussion is believed to be helpful in providing the reader with background information to facilitate a better understanding of the various aspects of the present disclosure. Accordingly, it should be understood that these statements are to be read in this light, and not as admissions. 
     In the current global network, there are many types of financial transactions, and even more existing techniques for effecting such financial transactions. For example, one type of financial transaction involves the exchange of one currency for a different type of currency. For instance, a traveler may wish to exchange United States Dollars for European Euros to use the accepted European currency when traveling in various European countries. Such a currency exchange transaction may typically be completed at a bank, at an automated teller machine (ATM), or at a currency exchange office. Alternatively, the traveler may use traveler&#39;s checks or cashier checks and then locate a retailer or official able to exchange the check for suitable currency. 
     While various techniques exist for effecting commercial transactions such as currency exchanges, such techniques may be costly, inconvenient, or time consuming. Banks that are willing and able to offer a desired currency exchange may not be open during convenient times and may not be located in convenient locations. Furthermore, ATMs often charge a transaction fee for each cash withdrawal or use an unfavorable exchange rate to provide a currency exchange. 
     SUMMARY 
     A summary of certain embodiments disclosed herein is set forth below. It should be understood that these aspects are presented merely to provide the reader with a brief summary of these certain embodiments and that these aspects are not intended to limit the scope of this disclosure. Indeed, this disclosure may encompass a variety of aspects that may not be set forth below. 
     Some embodiments of the present technique involve receiving, from a portable electronic device, a request comprising requestor currency exchange information, generating an option list, and transmitting the option list to the portable electronic device. The option list may be generated based on the requestor currency exchange information, a location of the portable electronic device, and a location of potential exchangers in the option list. 
     In some embodiments, the requestor currency exchange information includes a first type of currency to be given in a currency exchange and a second type of currency to be received in the currency exchange, an amount of the first type of currency to be given, an amount of the second type of currency to be received, an amount range of the first type of currency to be given, an amount range of the second type of currency to be given, a currency exchange rate, a currency exchange rate range for the currency exchange, or combinations thereof. 
     Generating the option list in some embodiments is based on exchanger currency exchange information received from the potential exchangers, where the second type of currency to be exchanged with the first type of currency, an amount of the second type of currency to be exchanged, or both. The exchanger currency exchange information may further include one or more of an amount of the first type of currency to be received, a currency exchange rate, or a currency exchange rate range for the currency exchange. In some embodiments, generating the option list involves dynamically adjusting the option list based on the location of the portable electronic device and/or dynamically adjusting the option list changes based on the location of potential exchangers in the option list. Generating the option list may involve dynamically adjusting the option list based on real-time updates in the location of the portable electronic device and real-time updates in the location of the potential exchangers and may also be based on a proximity of the location of the potential exchangers to the location of the portable electronic device. 
     In some embodiments, the method may include displaying a transaction coordination screen on the portable electronic device, once a potential exchanger from the option list is selected by the portable electronic device, where the transaction coordination screen includes dynamically updated information related to a first location of the portable electronic device and a second location of the selected potential exchanger. Displaying the transaction coordination screen may include displaying a dynamically updated map displaying the first location and the second location and movement of the first location and movement of the second location. Displaying the transaction coordination screen may also include displaying a chat interface suitable for allowing exchange of messages between the portable electronic device and a potential exchanger. In some embodiments, the map and the chat interface may be either displayed simultaneously, or may be suitable for toggling between the screens. 
     In some embodiments, generating the option list is performed by a processor at a server in communication with the portable electronic device and the potential exchangers. Furthermore, in some embodiments, generating the option list is performed by a processor of the portable electronic device. 
     Some embodiments involve a method of facilitating a transaction between a first portable electronic device and potential transacting devices. The method involves receiving a first transaction request from the first portable electronic device and generating an option list. In some embodiments, the option list may be based on the first transaction request, transaction information from the potential transacting devices, a location of the first portable electronic device, and a location from the potential transacting devices. The method also transmitting the option list to the first portable electronic device. The method further includes displaying a transaction coordination screen on the first portable electronic device and a potential transacting device when the first portable electronic device selects the potential transacting device from the offer list and dynamically updating a map of the transaction coordination screen with a first geolocation of the first portable electronic device and a second geolocation of the potential transacting device. 
     One or more embodiments involve a method including receiving a first transaction request from a first portable electronic device and receiving a second transaction request from a second portable electronic device, a second transaction request. The method includes generating an option list based on the first transaction request, the second transaction request, a location of the first portable electronic device, and a location of the second portable electronic device. The method also involves transmitting the option list to one or more of the first portable electronic device and the second portable electronic device. 
     Various refinements of the features noted above may be made in relation to various aspects of the disclosure. Further features may also be incorporated in these various aspects as well. These refinements and additional features may exist individually or in any combination. For instance, various features discussed below in relation to one or more of the illustrated embodiments may be incorporated into any of the above-described aspects of the disclosure alone or in any combination. The brief summary presented above is intended just to familiarize the reader with certain aspects and contexts of embodiments of the disclosure without limitation to the claimed subject matter. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       The detailed description is set forth with reference to the accompanying drawings. The use of the same reference numerals may indicate similar or identical items. Various embodiments may utilize elements and/or components other than those illustrated in the drawings, and some elements and/or components may not be present in various embodiments. Elements and/or components in the figures are not necessarily drawn to scale. Throughout this disclosure, depending on the context, singular and plural terminology may be used interchangeably. 
         FIG. 1  illustrates a schematic diagram of a financial transaction system involving one or more portable electronic devices in accordance with one or more example embodiments. 
         FIG. 2  illustrates a block diagram of a portable electronic device which may be used in accordance with one or more example embodiments. 
         FIG. 3  illustrates a block diagram of a host server system in accordance with one or more example embodiments. 
         FIG. 4  illustrates a flow chart of a method for facilitating a financial transaction in accordance with one or more example embodiments. 
         FIG. 5  illustrates flow chart of a method for dynamically updating location information between a plurality of portable electronic devices in accordance with one or more example embodiments. 
     
    
    
     DETAILED DESCRIPTION 
     One or more specific embodiments of the present disclosure will be described below. These described embodiments are just examples of the presently disclosed techniques. Additionally, in an effort to provide a concise description of these embodiments, features of an actual implementation may not be described in the specification. It should be appreciated that in the development of any such actual implementation, as in any engineering or design project, numerous implementation-specific decisions may be made to achieve the developers&#39; specific goals, such as compliance with system-related and business-related constraints, which may vary from one implementation to another. Moreover, it should be appreciated that such a development effort might be complex and time consuming, but would still be a routine undertaking of design, fabrication, and manufacture for those of ordinary skill having the benefit of this disclosure. 
     When introducing elements of various embodiments of the present disclosure, the articles “a,” “an,” and “the” are intended to mean that there are one or more of the elements. The terms “comprising,” “including,” and “having” are intended to be inclusive and mean that there may be additional elements other than the listed elements. Additionally, it should be understood that references to “one embodiment” or “an embodiment” of the present disclosure are not intended to be interpreted as excluding the existence of additional embodiments that also incorporate the recited features. 
     One or more embodiments of the present technique relate to facilitating potential financial transactions between one or more portable electronic devices.  FIG. 1  is a schematic diagram of a financial transaction system  100  involving one or more portable electronic devices  102 , in accordance with one or more embodiments of the disclosure. As used herein, the electronic device  102  may refer to user inputs made on the device  102 , communications to and from the device  102 , and/or a user using or associated with the device  102 . 
     The financial transaction system  100  includes a network  104  (such as, for example, a wired or wireless internet connection, cellular data plan, etc.) and portable electronic devices  102  suitable for accessing the network  104 . The financial transaction system includes a server  106  suitable for communicating with a plurality of portable electronic devices  102  via the network  104 . 
     Each of the portable electronic devices  102  is suitable for submitting a transaction request  108 , which may be received at the server  106 . For example, the financial transaction system illustrated in  FIG. 1  provides an example scenario where the device  102   a  submits a transaction request  108   a.  The transaction request  108   a  may be made, for example, through an application  110  such as an installable or downloadable application, a website, etc., in some embodiments. In accordance with the present techniques, the application  110  may be any suitable interface through which a portable electronic device  102  may communicate a transaction request  108  to the server  106  and/or for the server  106  to communicate with an electronic device  102 . The transaction request  108  may include, for example, a request to receive a type and/or an amount of currency, an offer to exchange the requested type and/or amount of currency for another type and/or amount of currency, or both. As used herein, currency may include various currencies or monetary equivalents in various countries, sovereign states, territories, entities, or any monetary unit primarily used in any geographic region. Currency may also include alternative currencies, digital currencies and cryptocurrencies, such as Bitcoin. The present techniques may be applicable for facilitating potential financial transactions between any suitable currencies. 
     In some embodiments, before or while a device  102  is accessing and/or communicating with the server  106 , the server  106  may have access to geographical location information  112  of the device  102 . In some embodiments, the server  106  may first request permission to access the geographical location information  112  or provide an option for the device  102  to provide its geographical location information  112 . In one or more embodiments, the application  110  may automatically have access to the geographical location information  112  of the device  102  once the device  102  installs and/or accepts such terms of the application  110  on the device  102 . 
     The financial transaction system  110  may be suitable for transmitting a transaction option list  114  to a device  102 . A transaction option list  114  may include a list of other requests from one or more other devices  102 . In some embodiments, the option list  114  may be based on a geographical location of a requesting device  102  (e.g., device  102   a ) and/or geographical locations of other requesting devices  102  (e.g., device  102   b,    102   c,  etc.). For example, options associated with requests from other devices  102   b,    102   c  may be part of an option list  114   a  transmitted to device  102   a  based on the geographical locations of the devices  102   b,    102   c  with respect to that of device  102   a.  In some embodiments, a device  102   b,    102  is geographically proximate to a device  102   a  if it is within approximately a 1 mile by 2 mile area (or approximately a 1 mile by 1 mile area, or approximately a 0.5 mile by 0.5 mile area, etc.) around device  102   a.  In other embodiments, a device  102   b  is geographically proximate to a device  102   a  if it is within approximately a 1 mile radius (or approximately a 2 mile radius, or approximately a 0.5 mile radius, etc.) around  102   a.  Other distance or area thresholds may be suitable in accordance with embodiments of the present disclosure. 
     The transaction option list  114  may also be based on what a device  102  is requesting and/or offering. For example, the device  102   a  may be requesting European Euros and offering US Dollars. The options for option list  114   a  may include requests  108  from other devices  102  requesting Dollars and offering Euros. For example, device  102   c  may also be requesting Euros and offering Dollars, and as such, may not be a compatible option for device  102   a  and an option associated with device  102   c  may not be on the option list  114   a  for device  102   a.  A device  102   b  may be requesting Dollars and offering Euros and as such, an option associated with device  102   b  may be a compatible option for device  102   a  and may be an option on the option list  114   a  for device  102   a.    
     In some embodiments, in addition to a type of currency requested (e.g., Euros, Dollars, etc.) a requested amount or an offered amount may also be included in a request  108  and may affect an option list  114 . In some embodiments, a requested and/or offered amount may be an exact number or a range. For example, device  102   a  may request 100 Euros and offering 130 US Dollars in some embodiments, and may receive offers corresponding to this request  108   a.  Furthermore, some embodiments may involve ranges of requested amounts and/or offered amounts. For example, device  102   a  may request 95-105 Euros and offering 120-140 US Dollars in exchange. Furthermore, in some embodiments, a request  108  may also include a currency exchange rate (e.g., a rate of 1.3 USD to Euro) or a range of acceptable currency exchange rates (e.g., a rate of 1.28-1.32 USD to Euro). Such information regarding an amount of currency to be received and/or offered may affect the options generated or transmitted in the transaction option list  114 . In some embodiments, a device  102  may send multiple requests substantially in parallel. For example, in some embodiments, the application  110  may allow a user of a device  102  to select multiple types of currency to give and/or to receive or multiple ranges for the exchange, and these requests may be sent in one or more requests  108  to the server  106 . 
     In some embodiments, the transaction option list  114  may be continuously and/or dynamically updated, based on changes in location of the devices  102  and/or updates in transaction requests  108 . For example, the list  114  transmitted to device  102   c  may be dynamically updated while a device  102   c  is requesting and/or waiting to select an option to complete a financial transaction. The device  102   c  may move away from other devices  102   a  or  102   b  such that the device  102   c  is no longer geographically close enough to a device  102   a  or  102   b  to complete a financial transaction through the financial transaction system  100 . Different options may be available for the device  102   c  based on where the device  102   c  has moved. Likewise, if the device  102   b  moves away from the device  102   c,  the request of device  102   b  may no longer be an option for the device  102   c  and may be removed from the option list  114   c  transmitted to the device  102   c.    
     The list  114   c  transmitted to the device  102   c  may also be dynamically updated based on updates in transaction requests  108 . For instance, if device  102   a  accepts an offer from device  102   b,  the request of  102   a  and/or  102   b  that has been completed may be removed from all other option lists  114 , such as the option list  114   c  transmitted to device  102   c.  Similarly, a new request from a device  102   d  may be added to the option list  114   c  transmitted to the device  114   c  at any time while the device  114   c  is waiting for a suitable option. 
     A portable electronic device  102  may be any device suitable for accessing the network  104  and being substantially portable, such as, for example, a mobile or cellular phone, a laptop, a tablet device, etc. The block diagram illustrated in  FIG. 2  represents a portable electronic device  102  suitable for use in accordance with the present techniques of facilitating potential financial transactions and includes components that may be present in one such electronic device  102 . Those of ordinary skill in the art will appreciate that the various functional blocks shown in  FIG. 2  may include hardware elements (including circuitry), software elements (including computer code stored on a computer-readable medium, such as a hard drive or system memory), or a combination of both hardware and software elements.  FIG. 2  is only one example of a particular implementation and is merely intended to illustrate the types of components that may be present in the electronic device  102 . For example, in the presently illustrated embodiment, these components may include one or more processors  200 , one or more memory devices  202 , a networking device  204 , a navigation device (e.g., GPS functionality)  206 , a display  208 , and a power source  210 . 
     The processor(s)  200  may provide the processing capability required to execute the operating system, programs, application, user interface, and any other functions of the device  102 . The processor(s)  200  may include one or more microprocessors, such as one or more “general-purpose” microprocessors, a combination of general and special purpose microprocessors, and/or ASICS. In some embodiments, the processor(s)  200  may be suitable for executing instructions or applications related to a financial transactions in accordance with some embodiments, as will be further discussed. 
     Embodiments of the electronic device  102  may also include a memory  202 . The memory  202  may include a volatile memory, such as RAM, and/or a non-volatile memory, such as ROM. The memory  202  may store a variety of information and may be used for a variety of purposes. For example, the memory  202  may store the firmware for the device  102 , such as an operating system for the device  102 , and/or any other programs or executable code necessary for the device  102  to function. In addition, the memory  202  may be used for buffering or caching during operation of the device  102 . For example, the memory  202  may be suitable for storing instructions or program code for an application  110  for effecting or facilitating a financial transaction, as well as any instructions or data needed to run the application  110  and/or facilitate a financial transaction, such as a dynamically updated option list  114 , for example. In some embodiments, execution of the application  110  by the processor  200  may result in, for example, generation of user interface screens facilitating a location-based financial transaction, as will be further described. 
     In some embodiments, the electronic device  102  includes a networking device  204 , which may include, for example, a wireless transceiver, which includes but is not limited to a Wi-Fi adapter, a cellular data antenna, Bluetooth®, near field communication (NFC), etc. The portable electronic device  102  may be capable of, via its networking device  204 , communicating with other devices or elements within a network (e.g., network  104 ). In some embodiments, the electronic device  102  may be capable of communicating with other devices  102  and/or a server (e.g., server  106 ) via its networking device  204 . The networking device  204  may be suitable for enabling a financial transaction between one or more portable electronic devices  102 , in accordance with some embodiments. 
     The processor  200  may also be in communication with a navigation device  206  that is suitable for any known means of location detection, such as by using global positioning system (GPS) functionality, cell phone tower triangulation, IP address-based geolocation, etc., or any combination of these techniques. In some embodiments, the navigation device  206  may communicate location information to an application programming interface (API), through which other applications or processes in the device  102  may access the location information of the device  102 . For example, an application  110  for facilitating a location-based financial transaction may access the API for location information provided by the navigation device  206 . 
     The display  208  may be used to display various images generated by the electronic device  102 . The display  208  may be any suitable display, such as a liquid crystal display (LCD) an organic light-emitting diode (OLED) display, etc. Additionally, in certain embodiments of the electronic device  102 , the display  208  may be provided in conjunction with a touch-sensitive element, such as a touch-screen, that may be used as part of the control interface for the device  102 . In some embodiments, the display  208  may be suitable for displaying various screens related to facilitating a location-based financial transaction. For example, the display  208  may be suitable for displaying a user interface associated with an application  110  used for facilitating financial transactions in accordance with embodiments of this disclosure. Furthermore, a touch-screen of the display may be suitable for controlling and/or inputting requests or selections associated with the application  110 . 
       FIG. 3  illustrates a block diagram of a host server system  106  in accordance with one or more example embodiments. The host server system  106  includes one or more processor modules  300  in communication with one or memory modules(s)  302 . The memory module(s)  02  will typically include code executable by the processor modules  300  to effect a location-based financial transaction in accordance with some embodiments of this disclosure. The host server system  106  further includes a central data store  304  containing information concerning or otherwise relating to users of the devices  102 . The exchange of information between the central data store  304  and the user devices  102  is facilitated by one or more network interfaces  306  in communication with elements of network  104 . Administrative personnel or system operators may interact the server system  106  by way of user interface elements, such as through applications  110 , and/or remotely via an interface  306  of the network  104 . 
     A method for facilitating a location-based financial transaction in accordance with some embodiments is provided in the flow chart illustrated in  FIG. 4 . The method  400  begins (block  402 ) with an electronic device (e.g.,  102   a ) requesting (block  404 ) a transaction (e.g., transaction request  108   a ). In some embodiments, the transaction request may involve selecting an offered currency and/or a requested currency, and in some embodiments, requesting (block  404 ) a transaction may further involve offering an exact amount or range of the offered currency and/or requesting an exact amount or a range of the requested currency. Furthermore, in some embodiments, requesting (block  404 ) a transaction may involve selecting an exact exchange rate or inputting a range of an acceptable exchange rate. 
     The electronic device  102  may then receive (block  406 ) an offer list (e.g.,  114 ) including a list of options corresponding with the transaction request  108 . In some embodiments, the transaction request  108  may be sent to a server  106  through a network  104 , and the server  106  may send the offer list  114  back to the electronic device  102  through the network. Furthermore, an offer list  114  may include a list of complementary or suitable offers, with respect to a type and/or amount of a currency being offered and/or requested. In some embodiments, an offer list  114  may be displayed as a list, as tiles, in a map view, or combinations of these types of displays. For example, the offer list  114  may be interchangeably switched between a list view or a map view, where the list view includes a list of sortable and/or filterable options, and where the map view includes points of the estimated geographical locations of other devices  102  having complementary or suitable offers. 
     The financial transaction method  400  may then depend on whether (block  408 ) an option from the option list  114   a  is selected by the electronic device  102   a.  If, for example, the electronic device  102   a  selects an offer from the offer list  114   a,  then the selected offer may be temporarily removed (block  410 ) from the list and a transaction coordination screen(s) may be displayed (block  412 ) on the display of the device  102   a  and/or on the display of a device (e.g.,  102   b ) associated with the selected offer. The transaction coordination screen may be, in some embodiments, a map showing the geographic location of the electronic device  102   a  and the geographic location of a device  102   b.  Displaying (block  412 ) the transaction coordination screen may involve displaying a dynamic screen and dynamically updating the locations of the electronic device  102   a  and/or the electronic device  102   b.  In some embodiments, the geographic locations of both devices  102   a  and  102   b  in an accepted offer may be dynamically updated as the devices  102   a  and/or  102   b  attempt to move closer to one another to complete the financial transaction. In some embodiments, displaying (block  412 ) the transaction coordination screen may further involve a chat function, where the devices  102   a  and/or  102   b  may send messages which are displayed (block  412 ) to each other, to further aid in coordinating a meeting to complete the financial transaction. 
     In some embodiments, after a certain length of time, the method  400  may involve determining whether (block  414 ) the financial transaction has occurred. For example, a message may be sent to either devices  102   a  or  102   b  to determine whether the transaction has been completed. In some embodiments, a user may indicate through the device  102  that the transaction has been completed. If device  102   a  and/or device  102   b  indicates that the financial transaction has occurred, then the offers associated with the devices  102   a  and  102   b  of the completed transaction are removed (block  416 ) from all future option lists  114  or future updates of option lists  114 . In some embodiments, if no devices  102   a  or  102   b  indicate that a financial transaction has occurred, then the offer may also be removed (block  416 ). Once an offer is removed (block  416 ), the transaction exchange (e.g., for the example device  102   a ) may be completed (block  418 ) for the two transacting devices (e.g., devices  102   a  and  102   b ). 
     If, in response to a query to determine whether (block  416 ) the financial transaction has occurred, either of the devices  102   a  or  102   b  answer that the financial transaction was unsuccessful, the device  102   a  may again receive (block  406 ) an offer list  114 . The new offer list  114  may be updated in accordance with any new information or offers since the previous offer list  114 , and the method  400  may continue for some time or some number of cycles or until a financial transaction is completed for the requesting device  102   a.    
     If, in response to a query to determine whether (block  416 ) the financial transaction has occurred, either of the devices  102   a  or  102   b  answer that the financial transaction was unsuccessful, an offer associated with the second device (e.g., device  102   b ) may be added back (block  420 ) to the offer list. Reentering (block  420 ) the offer may mean that the offer associated with the device  102   b  may be available for selection in future offer lists  114  transmitted to other requesting and/or offering devices  102 . 
     In some embodiments, the method  400  may then determine (block  422 ) whether an offer has been taken. If an offer is taken, then the method  400  may involve removing (block  410 ) the offer temporarily and again displaying (block  412 ) the transaction coordination screen. If (block  422 ) the offer is not taken, then the method  400  may then involve determining (block  424 ) whether any devices  102  have geographically moved. For example, if an offer associated with a device  102   b  geographically moves after beginning the financial transaction method  400  and/or after entering an offer and/or request, the method  400  may update (block  426 ) an offer list based on this movement. For example, the offer list  114  transmitted to a moving device  102   b  may be updated (block  426 ) based on the geographic movement of the device  102   b  and corresponding changes on suitable offers (e.g., an offer corresponding to device  102   d  may be removed from the offer list  114   b  if device  102   b  walks beyond a certain distance and/or an offer corresponding to device  102   c  may be added to the offer list  114   b  if the device  102   b  walks near enough to device  102   c ). Furthermore, in some embodiments, the offer lists  114  sent out to other devices  102  in the network  104  may also be updated (block  426 ) based on the geographic movement of device  102   b.  In accordance with the present techniques, substantially all offer lists  114  received at devices  102  may be dynamically updated (block  426 ) based on the geographic movement of any device  102  in the network  104 . 
     The method  400  may allow (block  428 ) a device  102  in the network  104  to select an offer. If (block  422 ) an offer is taken, the selected offer may be temporarily removed (block  410 ) and the transaction coordination screen may be displayed (block  412 ) for the devices  102  involved in the selected offer. If (block  422 ) the offer is not taken, the method  400  may continue to determine (block  424 ) whether one or more devices  102  have geographically changed in location, update (block  426 ) offer lists  114  based on this movement, and allow (block  428 ) the offer to be selected. In some embodiments, these operations (block  424 ,  426 ,  428 , and  422 ) may occur substantially synchronously, may overlap, and/or may occur in different orders. 
     In some embodiments, if a device  102   a  requests (block  404 ) a transaction and does not select (block  408 ) an option, then the transaction request  108   a  may be entered (block  430 ) as a new offer which may be transmitted as an offer on future outgoing offer lists  114 . In some embodiments, if the device  102   a  requests (block  404 ) a transaction and does not receive any offers on an offer list  114   a,  then the method  400  may determine (block  408 ) that no option has been selected (or could be selected), and the new transaction request  108   a  may be entered (block  430 ) as a new offer. 
     Once the new offer is entered (block  430 ), the method  400  may then determine (block  424 ) whether any devices  102  have moved, update (block  426 ) offer lists  114  with new location information, and allow (block  428 ) an offer to be taken. 
       FIG. 5  illustrates flow chart of a method for dynamically updating location information between a plurality of portable electronic devices in accordance with one or more example embodiments. In some embodiments, dynamically updated location information between portable electronic devices may dynamically displayed (block  412 ) on the display of the device  102  as a transaction coordination screen. 
     The process  412  may be explained with respect to a user and a counterparty, where a user may be a user of a device (e.g., device  102   a ) and a counterparty may be a user of another device (e.g., device  102   b ) with whom the user is engaging in a financial transaction. To simplify explanations of the process  412 , a device (e.g.,  102   a ) of the user may simply be referred to as the user, and a device (e.g.,  102   b ) of the counterparty may simply be referred to as the counterparty. Either the user or the counterparty may have accepted the other&#39;s offer such that both the user and counterparty have transitioned (block  502 ) to the transaction coordination screen. While the process  412  is described from the user&#39;s perspective and with respect to the user&#39;s transaction coordination screen, in accordance with the present techniques, the processes  412  and  400  and other techniques described herein may be applicable to any device communicating in the financial transaction system  100 . 
     A process  412  for displaying a transaction coordination screen having dynamically updated location information between one or more portable electronic devices may begin (block  500 ) with transitioning (block  502 ) to the transaction coordination screen. The transaction coordination screen may be, in some embodiments, a map showing the geographic location of an electronic device  102  and the geographic location of another device  102 . In some embodiments, the transaction coordination screen may include a chat interface where the user may exchange messages with the counterparty. Furthermore, in some embodiments, the transaction coordination screen may display a map with a chat interface simultaneously on the same screen, or may be toggled between a map and a chat interface. 
     For example, a chat function may involve transmitting (block  504 ) a user message to a server  106  in the financial transaction system  100 . Similarly, a chat function may involve receiving (block  506 ) a counterparty message from the server  106 . The user message may be transmitted (block  510 ) to the counterparty. A counterparty message may also be displayed (block  512 ) on the device  102   a  of the user. In some embodiments, the steps (block  508  as indicated by the dotted square) of transmitting (block  504 ) messages to a server  106  or receiving (block  506 ) messages at a server  106  may not be performed, as messages between devices  102  may be transmitted directly between devices  102 . For example, a user may directly transmit a message to the counterparty, while a counterparty message may be directly transmitted to the user to be displayed on the device  102   a  of the user, without having been transmitted through a server  106 . 
     During the process  412 , the user may move (block  514 ), and a counterparty may also move (block  516 ). As the user moves (block  514 ), the process  412  may involve transmitting (block  518 ) the user&#39;s geolocation to the server  106 . Similarly, as the counterparty moves (block  516 ), the counterparty&#39;s geolocation may be received (block  520 ) from the server. The user geolocation may be transmitted (block  524 ) to the counterparty. A counterparty geolocation may be displayed (block  526 ) on the device  102   a  of the user. In some embodiments, the steps (block  522  as indicated by the dotted square) of transmitting (block  518 ) the user&#39;s geolocation to the server  106  or receiving (block  520 ) the counterparty&#39;s geolocation from the server may not be performed, as the geolocations of the devices may be transmitted or updated directly between a user and counterparty. For example, a user may directly transmit the user&#39;s geolocation information to the counterparty, while the counterparty may directly transmit the counterparty&#39;s geolocation information to the user to be displayed on the user device  102   a,  without having been transmitted through a server  106 . 
     During the process  412  of displaying a dynamically updated transaction coordination screen for one or more portable electronic devices  102 , one or more of the steps of transmitting (blocks  504 ,  510 ) user messages, receiving or displaying counterparty messages (blocks  506 ,  512 ), dynamically transmitting (blocks  518 ,  524 ) user geolocation, dynamically receiving and displaying (blocks  520 ,  526 ) counterparty geolocation, etc. may be performed substantially simultaneously. For example the user and/or counterparty may be moving and transmitting and receiving messages, while transmitting and receiving dynamically refreshed geolocation information on their respective devices  102 . Furthermore, in some embodiments, these operations in process  412  may occur substantially synchronously, may overlap, and/or may occur in different orders. 
     In some embodiments, after a certain length of time, or after an indication from the user or the counterparty, the process  412  may determine whether (block  414 ) the financial transaction has occurred. This determination may be made in accordance with the process  400  described with respect to  FIG. 4 . In some embodiments, if no exchange has occurred, the process  412  may continue with the transaction coordination screen, or may again receive (block  406 ) an offer list, in accordance with  FIG. 4 . Once a transaction has occurred, the process  412  may end (block  528 ). 
     Many modifications and other implementations of the disclosure set forth herein will be apparent having the benefit of the teachings presented in the foregoing descriptions and the associated drawings. Therefore, it is to be understood that the disclosure is not to be limited to the specific implementations disclosed and that modifications and other implementations are intended to be included within the scope of the appended claims. Although specific terms are employed herein, they are used in a generic and descriptive sense and not for purposes of limitation.