Patent Publication Number: US-10318943-B1

Title: System and method for a mobile wallet

Description:
CROSS-REFERENCE TO RELATED PATENT APPLICATIONS 
     This application is a divisional of co-pending U.S. application Ser. No. 12/568,468, filed on Sep. 28, 2009, which claims the benefit of U.S. Provisional Application No. 61/194,775, filed Sep. 30, 2008, which is incorporated by reference herein in its entirety. 
    
    
     FIELD 
     The present invention relates generally to the field of mobile wallets. More specifically, the present invention relates to systems and methods for enabling individuals to use their electronic devices to transfer funds and purchase items and services. 
     BACKGROUND 
     Payments for items and services are often completed using credit cards, debit cards, checks or cash. At the same time, most people carry some type of mobile handheld electronic device, such as a cellular phone, smart phone, mobile handheld wireless e-mail device, personal digital assistant, portable gaming devices, and so on. Most of these devices tend to have a wireless internet connection. A person may wish to make payments to merchants using these mobile devices. Likewise, a person may wish to transfer funds to other individuals using their mobile devices. Enhanced systems and methods of facilitating such transactions would be desirable. 
     SUMMARY 
     One embodiment of the invention relates to a computer-implemented method for transferring funds using a mobile wallet. The method comprises storing a profile associated with a mobile wallet account. The profile is stored based on information received from a user in an online community. The method further comprises funding the mobile wallet account with funds received from a source of funds. The mobile wallet account is funded responsive to inputs received from the user by way of a mobile device. The method further includes transferring at least a portion of the funds from the holding account to an entity using an Automated Clearing House (ACH) network system. The funds are transferred responsive to inputs received from the user by way of the mobile device. 
     Another embodiment relates to a method for transferring funds by associating a payment profile with a mobile wallet account having funds. The method further includes transferring at least a portion of the funds to a recipient from the holding account using an Automated clearing house (ACH) network system. 
     Another embodiment relates to a method for transferring funds. The method comprises generating a unique code associated with a holding account at a point of sale location using a mobile device. The method further comprises transferring funds using an Automated clearing house (ACH) network system to a recipient by allowing a scan of the code generated by the mobile device. 
     Another embodiment relates to a computer-implemented method for transferring funds by generating a profile associated with a mobile wallet account in an online community. The method can include funding the mobile wallet account from a source of funds using a mobile device. The source of funds can be a bank account. The method further comprise generating a unique code associated with the mobile wallet account at a point of sale location using the mobile device. The method can include transferring at least a portion of the funds using the mobile device to a merchant with an agreement with the online community from the mobile wallet account using an Automated Clearing House (ACH) network system. 
     Another embodiment relates to a system for payment processing. The system comprises a mobile device configured to generate a unique code associated with a transaction to pay a recipient. The system further comprises a mobile wallet account processing logic configured to receive the unique code and payment receipt options from a recipient. The mobile wallet account processing logic is configured to transmit funds using an ACH network to the recipient. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         FIG. 1  is a schematic diagram of a computer-implemented payment processing system according to an example embodiment. 
         FIG. 2  is a process implemented by the payment processing system of  FIG. 1  to create a mobile wallet account. 
         FIGS. 3A-3C  are processes implemented by the payment processing system of  FIG. 1  to transmit funds to a recipient. 
         FIG. 4  is a flow diagram of a payment channel according to an example embodiment. 
         FIG. 5  is a flow diagram showing payment to a retail merchant at the point of sale using a mobile wallet. 
         FIG. 6  is a flow diagram showing person to person payment within an online community and with another online community. 
         FIG. 7  is a flow diagram indicating multiple channels of payments that may be made using the mobile wallet account as shown in the embodiments of  FIGS. 4-6 . 
         FIG. 8  is a screen shot prompting a user to enter login information for the mobile wallet application on a mobile device of the user. 
         FIG. 9  is a screen shot showing a first menu in the mobile wallet application. 
         FIG. 10  is a screen shot showing a start transaction portion of the mobile wallet application. 
         FIG. 11  is a screen shot prompting the user to enter information regarding an individual recipient. 
         FIG. 12  is a screen shot prompting the user to select a recipient from a list of contacts. 
         FIG. 13  is a screen shot showing the user choosing an example contact information for “John Appleseed”. 
         FIG. 14  is a screen shot prompting the user to user enter a numerical passcode. 
         FIG. 15  is a screen shot showing the account details from  FIG. 9 . 
         FIG. 16  is a screen shot prompting the user to load funds into the mobile wallet account. 
     
    
    
     DETAILED DESCRIPTION 
     Referring to  FIG. 1 , a computer-implemented payment processing system  100  is shown that may be used by a user to set up and utilize a mobile wallet account. The user may be a business entity and/or an individual consumer that has one or more source accounts with a financial institution. The source accounts may include business or consumer accounts. The mobile wallet account can be created for the user to transmit funds in return for purchase of goods or services to a merchant. Additionally, funds can be transferred from the mobile wallet account to another person. 
     Payment processing system  100  may include, among other systems, an online community computer system  105 , a mobile device  110 , mobile wallet bank computer system  120 , source account bank computer system  130 , a fund recipient computer system  140 , and an automated clearing house system  150 . The online community computer system  105 , the mobile device  110 , the mobile wallet bank computer system  120 , the source account bank computer system  130 , and the fund recipient  140  may communicate through a network  160 , which may include one or more of the Internet, cellular network, Wi-Fi, Wi-Max, a proprietary banking network, and so on. The online community computer system  105 , the mobile wallet bank computer system  120 , the source account bank computer system  130 , and the automated clearing housing system  150  may each comprise a computer system (e.g., one or more servers each with one or more processors) configured to execute instructions, send and receive data stored in memory, and perform other operations to implement the operations described herein associated with logic or processes shown in  FIGS. 2A through 16 . 
     The online community computer system  105  implements an online community of individuals. The online community may be any internet destination (e.g., website) where users may obtain user names/login IDs or otherwise become registered members. The individuals may, for example, use the online community to interact with each other and/or to interact with a service provided by the computer system  105 . Examples of online communities include MSN®, iPhone® users, Facebook®, LinkedIn®, and so on. 
     Members of the online community may be offered mobile wallet accounts as a service that is available through the online community. The mobile wallet accounts, for example, may be created through the online community, may be accessible through the online community, may be branded with the trademarks of the online community, and so on. Although in the illustrated embodiment the mobile wallet account is created and accessed through an online community, it will be appreciated that the mobile wallet account may be established in other ways, for example, through an online banking area of a web site of the banking institution that maintains the mobile wallet account. 
     The mobile device  110  may be used by an individual user (e.g., a business owner or employee, a consumer, and so on) to create and interact with a mobile wallet account. The mobile device may, for example be, a cellular phone, smart phone, mobile handheld wireless e-mail device, personal digital assistant, portable gaming devices, or other suitable device. The mobile device  110  comprises a network interface logic  112 , a display device  114 , an input device  115 , and a mobile wallet client application  116 . Network interface logic  112  may include, for example, program logic that connects the mobile device  110  to the network  160 . As described in greater detail below, for example, the mobile device  110  may receive and display screens including account information, transaction instructions, and so on. In an example embodiment, such screens may be used to request a username and password information. Such screens may also be used to prompt the user to provide information regarding the amount of the payment and which merchant or individual (e.g., name, address, phone number or e-mail, a selection of a recipient by the user from his memory or from by the user from the mobile device  110 , and so on) is to receive the payment. Such screens are presented to the user via the display device  114 . The input device  116  may be used to permit the user to initiate account access and to facilitate receiving requested information from the user. As will be appreciated, in addition to or instead of the mobile device  110 , users may also be provided with the ability to access the payment processing system  100  using another type of computer (e.g., a desktop or laptop computer executing browser software) to perform the operations described herein as being performed by the mobile device  110 . 
     The mobile wallet client application  116  may comprise program logic executable by the mobile device to implement at least some of the functions described herein. As will be appreciated, the level of functionality that resides on the mobile device  110  as opposed to the online community computer system  160  may vary depending on the implementation. The client application  116  may simply be a web browser that is configured to receive and display mobile web pages received from the online community computer system  160  (e.g. web pages prompting the user to provide information to create an account, web pages displaying account balance information and past transactions, and so on). The mobile wallet client application  116  may also include a code/token generator capable of generating a unique code/token for each transaction. As described below, the unique code/token may then be transmitted by the mobile device  110  as part of a transaction to facilitate authentication of the transaction. As will be appreciated, the user may also use other devices (e.g., laptop or desktop computer system, not shown) to create and access accounts through the online community. 
     The mobile wallet bank computer system  120  includes account processing logic  122 , an accounts database  124 , network interface logic  127 , and an account directory  129 . In an example embodiment, the computer system  120  is operated by a first banking entity that maintains and handles transaction processing for the mobile wallet accounts. Thus, for example, while the mobile wallet accounts may be created and accessed through the online community, the flow of funds into and out of the mobile wallet accounts may be processed by the first banking entity. The computer system  120  is configured to store information regarding mobile wallet accounts. By way of example, information for a specific mobile wallet account, designated by reference numeral  125 , is shown as being stored in a database  124 . As will be appreciated, database  124  may also store information regarding many other mobile wallet accounts (not shown). As will also be appreciated, the extent to which transaction details are tracked and maintained in the account processing logic  124  as compared to the extent to which transaction details are tracked and maintained by the online community computer system  105  may vary depending on the implementation. 
     The mobile wallet account  125  holds funds that are transmitted to a recipient  140  upon receiving instructions from the user through the mobile device  110 . As described below, funds flow into and out of the mobile wallet account  125  through the ACH system  150 . The mobile wallet account logic  120  is connected to the online community computer system  105  and the ACH system through the network  160 . Network interface logic  127  may include, for example, program logic that connects the computer system  120  to the network  160 . The mobile wallet account logic also includes an account directory  129 . As discussed in greater detail below, the account directory  129  can maintain correlating information regarding a potential recipient&#39;s phone number, address or e-mail address, e.g., to facilitate transferring funds to individuals where account information is not known. 
     The source account computer system  130  includes account processing logic  132 , an accounts database  134 , and network interface logic  137 . The bank account logic  139  may be operated by a second banking entity that maintains and handles transaction processing for source accounts. In an example embodiment, as previously indicated, during creation of the mobile wallet account  125 , the user may be prompted to identify a source account  135 , that is, a source of funds for the mobile wallet account. The source account  135  may be an existing demand deposit account held by the user with another financial institution. When the mobile wallet account  125  is created, the user is prompted to provide bank account information (e.g., routing number and/or account number) for the source account  135  that is used as a source of funds for the mobile wallet account  125 . Thus, the financial institution that provides the mobile wallet account  125  for the user (through the online community) and the financial institution that typically provides banking services to the user may be two different financial institutions. Although in the illustrated embodiment the computer systems  120  and  130  are shown as being separate and as communicating through the Internet, it will be appreciated that the computer systems  120  and  130  may also be integrated in a single payment processing system (e.g., if the two financial institutions are the same). 
     The fund recipient computer system  140  may be configured in generally the same manner as the other computer systems described herein. For example, if the fund recipient is an individual, the computer system  140  may be another mobile device, such as a cellular phone, smart phone, mobile handheld wireless e-mail device, personal digital assistant, portable gaming devices, or other suitable device. If the fund recipient is a merchant (e.g., a brick and mortar merchant, a retail website or other online merchant, etc.), the computer system  140  may comprise a computer system (e.g., one or more servers each with one or more processors) configured to execute instructions, send and receive data stored in memory, and perform other operations to implement the operations described herein associated with the fund recipient. 
     The Automatic Clearing House (ACH) system  150  is used to transmit funds from the source account  135  to the mobile wallet account  125  and from the mobile wallet  125  to the recipient  140  (either directly or indirectly through the online community). As is known, the ACH Network is a nationwide batch-oriented electronic funds transfer system which provides for interbank clearing of electronic payments for participating depository financial institutions. An ACH entry can start with an account holder (known as the Receiver in ACH terminology) authorizing an Originator (e.g., a person or a company) to issue ACH debit or credit to an account. Depending on the ACH transaction, the Originator must receive authorization from the Receiver. In accordance with the rules and regulations of ACH, no financial institution may issue an ACH transaction (whether it be debit or credit) towards an account without prior authorization from the Receiver. Once authorization is received, the Originator then creates an ACH entry to be given to an Originating Depository Financial Institution (ODFI), which can be any financial institution that does ACH origination. This ACH entry is then sent to an ACH Operator (i.e., central clearing facilities through which financial institutions transmit or receive ACH entries, e.g., the Federal Reserve or the Electronic Payments Network) and is passed on to the Receiving Depository Financial Institution (RDFI), where the Receiver&#39;s account is issued either a credit or debit, depending on the ACH transaction. The RDFI may, however, reject the ACH transaction and return it to the ODFI with the appropriate reason, such as that there were insufficient funds in the account or that the account holder indicated that the transaction was unauthorized. An RDFI has a prescribed amount of time in which to perform returns (e.g., two to sixty days from the receipt of the ACH transaction). An ODFI receiving a return of an ACH entry may re-present the ACH entry two more times, or up to three total times, for settlement. Again, the RDFI may reject the transaction, after which the ODFI may no longer represent the transaction via ACH. The above description of ACH system is one in use currently, the embodiments of the current invention will continue to function similarly even if some methods and steps in the ACH system are modified. 
       FIG. 2  is an example process that can be implemented by the payment processing system  100  of  FIG. 1  to create a mobile wallet account  125 . At step  211 , the user is prompted to provide information to create a mobile wallet account. For example, the user may be prompted to register with the online community if the user has not already done so. The user may also be prompted to provide information to create a user profile, such as information regarding the source account  135  (e.g., bank account number and routing information). At step  213 , the user profile is stored based on input received from the user. At step  215 , the mobile wallet account  125  is funded. The funds can be received by the mobile wallet account  125  from the source account  135  through the ACH system  150 . In other embodiments, the mobile wallet account  125  can receive funds from any source of funds, such as brokerage accounts, bank accounts, credit card accounts, retirement account, and so on. 
     Referring next to  FIGS. 3A-3C , various examples in which payments are made from the mobile wallet account  125  are shown. In  FIG. 3A , a payment is made to a merchant (e.g., a “brick and mortar” merchant) and the mobile device is present at the point of sale. At step  311 , the code generator  118  of the mobile device  110  generates a unique code for a transaction at a point of sale location. As described in connection with  FIG. 10  below, the unique code may be embedded in a bar code which is read by a bar code scanner operated by the merchant at step  313 . For example, successful authentication of the unique code by the computer system  120  may be necessary for successful completion of the transaction by the merchant. Upon successful authentication, the computer system  120  may transmit a message to the merchant indicating that the transaction is “approved.” Next, in step  315 , funds are transferred using the ACH system  150  to the merchant. In yet another embodiment, the code can be transmitted via radio frequency (Bluetooth, RFID) to a scanner at the point of sale. When the code is sent to the account processing logic  122  by the recipient as a request for funds, the account processing logic  122  recognizes the transaction using the code and transmits an appropriate amount of funds to the recipient. After the transaction is complete, a SMS confirmation of the transaction may be sent in real time to the mobile device  110 . 
     As another example, a user may use the mobile device  110  to make a payment to an online merchant. In such an embodiment, payment through the payment processing system  100  may be offered to the user as a payment option at checkout. If the user accesses the online merchant through by way of the online community computer system  105 , then the user may be authenticated by virtue of having provided username and password information to the online community computer system  105 . As another option, rather than the barcode that is generated in step  311  of  FIG. 3A , the mobile device  110  may generate a unique code for a transaction which may then be keyed in by the user. Such an arrangement may also be implement to implement payments between members of on-line communities (e.g., MSN®, iPhone® users, Facebook®, LinkedIn®, and so on). In an example embodiment, an application programming interface (API) may be provided for the payment processing system  105  which may be accessed by the online merchant in programming the computer system  140  to accept payments via the payment processing system  105 . 
     In  FIG. 3B , a payment is made to another individual (a “person to person” payment). As shown in  FIG. 3B , in step  321 , a request for a transfer of funds from an individual to another individual is received from the mobile device  110  of the user. The request may include, for example, the other individual&#39;s e-mail or phone number or a token. Due to privacy concerns, a person may not want to share their account number with other individuals. However, oftentimes a person is willing to share more publicly available information, such as a name, address, E-mail or a telephone number. By using a combination of the above attributes about an individual, the mobile wallet application  116  can transmit funds or at least a notification to the recipient individual of the request for the fund transfer. The information directory  129  maintains information that correlates such information (i.e., the other individual&#39;s e-mail or phone number or a token) with more specific information identifying a mobile wallet account associated with the recipient. Thus, using the information directory  129 , the mobile wallet account information of the recipient is identified at step  323 . The funds are then transferred to the mobile wallet account of the recipient using the ACH system  150  at step  325 . In yet another embodiment instead of using the recipients phone number, or E-mail the recipient can provide the sender with a token or code for sending funds to the mobile wallet account of the recipient. 
     In  FIG. 3C , the user attempts to make a payment to a recipient that does not have a pre-registered mobile wallet account. As shown in  FIG. 3C , in step  331 , a request for a transfer of funds from an individual to another individual is received from the mobile device  110  of the user. In step  333 , it is determined based on the information directory  129  that the recipient is not a mobile wallet account holder. In step  335 , the intended recipient is notified of the attempt to transfer funds, and is prompted to create a mobile wallet account. The notification can be via e-mail, mail or phone, for example. In yet another embodiment, the recipient can request that the funds be delivered to a bank nearby and pick up the funds from the banking institution. The recipient can also choose to provide their bank account information such as routing number and account number. At step  337 , the funds are transferred to the recipient from the mobile wallet account  125  using the ACH system  150 . 
       FIG. 4  shows a flow diagram of a payment channel of an example embodiment of the present invention. A consumer  410  can sign up with an online community  412  and set up a mobile wallet account  414 . The mobile wallet account  414  is funded from a source account  416  through the ACH system  424 , as previously described. Information stored in connection with the mobile wallet account  414  includes information regarding account balance, pending transactions, receipt of payment, and so on. A consumer  410  can use the mobile wallet account  412  to purchase items or services from online merchants  420  and  422 , which may have an agreement with the online community provider and be considered to be affiliated. When a transaction is conducted online, the immediate recipient may be the online community provider. The online community provider may then aggregate funds to different merchants received from different members of the online community. The system disclosed in  FIG. 4  can be used as a lower-cost alternative payment channel when a consumer is shopping online using either the mobile wallet account  412  or on the Online Community networks. For merchants  420  and  422 , receiving payments through the ACH system  424  avoids interchange fees associated with credit card networks. 
       FIG. 5  shows a flow diagram of an alternative payment channel that can be used when a consumer with a mobile device  510  with a mobile wallet client application goes to retail merchant  520  to purchase items or services using a mobile wallet account  530 . As described above in connection with  FIG. 3A , to facilitate this transaction, a code/token generator can create a unique code or token for the retail merchant to scan. The code can be communicated in the form of a scanned bar code, a transmitted radio frequency signal, or in another form. The retail merchant  520  can transmit the unique code to a bank that maintains the mobile wallet account  530 . Upon receiving approval for the transaction from the bank, funds are transferred from the mobile wallet account  530  to the retail merchant  520  via the ACH system  540 . Transaction costs for the retail merchant  520  are lower because interchange fees associated with credit card networks are avoided. 
       FIG. 6  is a flow diagram showing a first example embodiment of how person-to-person payments can be made using mobile wallet accounts. As described above, mobile wallet accounts  602 ,  604  and  622  may be created through online communities. In the example of  FIG. 6 , multiple online communities are shown, and payments are made to recipients in each of the online communities. Hence, mobile wallet accounts  602  and  604  are created through a first online community  601 , and mobile wallet account  622  is created through a second online community  620 . In the example of  FIG. 6 , the mobile wallet accounts for both the first and second online communities  601  and  620  are maintained by a single bank  610 . The bank  610  maintains an information directory  614  that can correlate e-mail, phone number and/or other individual identifying information with a mobile wallet account. This allows the sender to identify a user with name, E-mail, address or phone number and the directory can route the funds to the correct mobile account number. In another embodiment, multiple directories may be maintained and each directory is maintained by a third party, for example, the respective online community provider. 
     To make a payment to a recipient in the first online community  601 , the user selects a contact (for example, a first recipient  606 ). The first online community  601  receives the above information from the sender and it transmits the recipient identifying information and the amount of funds to be transferred to the bank  610 . The bank  610  queries the directory  614  to determine whether the recipient has a mobile wallet account. If the recipient has a mobile wallet account, then the first recipient  606  is notified that funds are being transferred to their mobile wallet account  604 . The banking institution  610  can, upon the approval of the first recipient, transfer the funds to holding account of the mobile wallet account  604 . 
     To make a payment to a recipient in the second online community  620 , the user selects a contact (for example, a first recipient  622 ). In this example, the same bank  610  maintains mobile wallet accounts for both the first online community  601  and the second online community  620 . The directory  614  therefore has all the information that is needed to complete the transfer and, therefore, the transmission of funds occurs as it did with the first recipient  606 . Therefore, the payment processing system  100  may permit two online communities to be joined by allowing transfer of funds to a sender and recipient of different communities. In yet another embodiment, the second recipient  622  has a mobile wallet account that is not maintained by the same bank  610  but instead has a mobile wallet account that is maintained by another bank. In this embodiment, the two banks may provide access to their respective directories for purposes of identifying the sender and the recipient and completing the transaction. 
       FIG. 7  is a flow diagram indicating multiple channels of payments that may be made using the mobile wallet account. In  FIG. 7 , the consumer  701  is a member of an online community  707  and has a mobile wallet account  709  that uses the ACH system  705 . The mobile wallet account  709  may be used to make payments in multiple channels. Thus, as shown in  FIG. 7 , the consumer  701  can send funds to person-to-person type recipients  712  and  713 . As also shown in  FIG. 7 , the consumer  701  can pay for services that are offered online (e.g., music downloads, movie downloads, subscriptions, etc.) at an online store  715  using the mobile wallet account  711 . Additionally, the consumer  701  can pay a retail (bricks and mortar) store  717  for items and services using the mobile wallet account  709 . Lastly, a consumer can visit to an online store  719  and pay by using the mobile wallet account  709 . Thus, the use of the mobile wallet can greatly reduce the need for carrying a traditional wallet with credit cards. 
       FIGS. 8-16  show screen displays of a sample mobile wallet client application. In particular, screen  800  as shown in  FIG. 8  can be displayed when a user selects the mobile wallet application on their mobile device  110 . Screen display  800  identifies to the user that they are signing on to their mobile wallet account in field  801 . For signing in, the user may be asked to provide a login ID (e.g., unique account name/number) in field  802  and password in field  805 . The account name/number and password may have been configured upon set up of the mobile wallet and/or updated at a later date. After entering the requested information, the user can press the provided sign in button  807 . 
     Next, information on the screen  910  shown on  FIG. 9  can be displayed on the mobile device. In  FIG. 9 , the user is given a menu with various menu items including a start transactions button  920 , a person to person button  930 , an account details button  940 , and a load funds button  950 . The start transaction button  920  allows the user begin a purchase transaction (online or retail) using the mobile wallet account  125 . The person to person button  930  allows a user to initiate a transfer from funds from the user to a recipient as described above with reference to  FIGS. 1 and 6 . The account detail button  940  provides the user with details regarding the balance and prior transactions. The load funds button  950  allows the user to load funds onto the mobile wallet account  125  using an ACH system  150  as described above. Finally, screen  910  displays the current balance  960  for the account for a particular date and time as indicated in field  970 . 
     After receiving a selection of the start transaction button  920  in  FIG. 9 , screen  1010  in  FIG. 10  is displayed. The user can enter the amount of the transaction in the text filed  1020 . Also the user can enter a merchant name or search for the merchant. After entering the merchant name and amount and clicking the start transaction button  1040 , a transaction code  1050  is displayed with the amount of the transaction and the merchant name. Moreover, as shown on screen  1010 , a bar code  1060  is displayed for a merchant to scan. The bar code is uniquely generated for the transaction and encodes information such as the amount of the transaction, the account number of the mobile wallet account of the user, and so on. 
     If the user chooses the person to person button  930  in  FIG. 9 , then the screen display of  FIG. 11  can be shown on the mobile device. The user can enter the contact name or search for a contact name in the field  1101 . Alternatively, the user can enter or search for a phone number in filed  1103 . As another alternative, the user can enter or search for the e-mail address of the recipient in field  1105 . Also, prior to transferring funds to a person, the current balance of the holding account is displayed in field  1107  on the screen display of  FIG. 11 . 
       FIG. 12  is the screen display shown to the user if the user chooses to search for a contact in the users address book on the mobile device. As shown in the screen display of  FIG. 12 , a user can display contact in groups or all contacts  1203 . This screen allows the user to choose a contact to send funds to. 
       FIG. 13  is a screen display shown if the user chooses an example contact “John Appleseed” in  FIG. 12 . The name of the selected contact is displayed in field  1303 . If the user&#39;s address book has the phone number and e-mail address for the recipient, then that information is displayed on the screen in fields  1305  and  1307 , respectively. By pressing the mobile wallet button  1301 , the user can to go the screen that requests the amount of money to send to the selected contact (John Appleseed in the illustrated example). 
       FIG. 14  is a screen display prompting the user to enter a passcode  1403  prior to sending funds or finalizing a transaction. To enter the numerical passcode the user is provided with keys  1405 . The passcode may be the same passcode as entered in connection with  FIG. 8 , or may be a different passcode to provide a heightened level of security. 
       FIG. 15  is displayed when the user chooses to view the account details button in  FIG. 9 . The screen display in  FIG. 15  shows a balance  1512  and the details regarding the last five transactions. The user can press button  1510  and see the next five previous transactions. The screen displays the name of the recipient  1501 , the transaction code  1503  and the amount of the transaction  1505 . Thus, a user can view their spending by simply looking it up on their mobile device  10  since the mobile device  10  displays balance information and transaction detail information for prior transactions. 
       FIG. 16  is displayed if the user chooses the load fund button in  FIG. 9 . The user is provided a text field  1620  to enter the amount to be loaded. After making the selection the user must click on the load funds button  1660 . After clicking on load fund button  1660 , the funds are loaded and made available to be used for transactions. As shown in  FIG. 16 , in addition to using a profiled mobile wallet account, as shown in field  1650 , the mobile device  10  may also use other profiled accounts to make payments as shown in fields  1630  and  1640 . 
     The embodiments of the present invention have been described with reference to drawings. The drawings illustrate certain details of specific embodiments that implement the systems and methods and programs of the present invention. However, describing the invention with drawings should not be construed as imposing on the invention any limitations that may be present in the drawings. The present invention contemplates methods, systems and program products on any machine-readable media for accomplishing its operations. The embodiments of the present invention may be implemented using an existing computer processor, or by a special purpose computer processor incorporated for this or another purpose or by a hardwired system. 
     As noted above, embodiments within the scope of the present invention include program products comprising machine-readable media for carrying or having machine-executable instructions or data structures stored thereon. Such machine-readable media can be any available media that can be accessed by a general purpose or special purpose computer or other machine with a processor. By way of example, such machine-readable media can comprise RAM, ROM, EPROM, EEPROM, CD-ROM or other optical disk storage, magnetic disk storage or other magnetic storage devices, or any other medium which can be used to carry or store desired program code in the form of machine-executable instructions or data structures and which can be accessed by a general purpose or special purpose computer or other machine with a processor. Combinations of the above are also included within the scope of machine-readable media. Machine-executable instructions comprise, for example, instructions and data which cause a general purpose computer, special purpose computer, or special purpose processing machines to perform a certain function or group of functions. 
     Embodiments of the present invention have been described in the general context of method steps which may be implemented in one embodiment by a program product including machine-executable instructions, such as program code, for example in the form of program modules executed by machines in networked environments. Generally, program modules include routines, programs, objects, components, data structures, etc. that perform particular tasks or implement particular abstract data types. Machine-executable instructions, associated data structures, and program modules represent examples of program code for executing steps of the methods disclosed herein. The particular sequence of such executable instructions or associated data structures represent examples of corresponding acts for implementing the functions described in such steps. 
     As previously indicated, embodiments of the present invention may be practiced in a networked environment using logical connections to one or more remote computers having processors. Those skilled in the art will appreciate that such network computing environments may encompass many types of computers, including personal computers, hand-held devices, multi-processor systems, microprocessor-based or programmable consumer electronics, network PCs, minicomputers, mainframe computers, and so on. Embodiments of the invention may also be practiced in distributed computing environments where tasks are performed by local and remote processing devices that are linked (either by hardwired links, wireless links, or by a combination of hardwired or wireless links) through a communications network. In a distributed computing environment, program modules may be located in both local and remote memory storage devices. 
     An exemplary system for implementing the overall system or portions of the invention might include a general purpose computing computers in the form of computers, including a processing unit, a system memory, and a system bus that couples various system components including the system memory to the processing unit. The system memory may include read only memory (ROM) and random access memory (RAM). The computer may also include a magnetic hard disk drive for reading from and writing to a magnetic hard disk, a magnetic disk drive for reading from or writing to a removable magnetic disk, and an optical disk drive for reading from or writing to a removable optical disk such as a CD ROM or other optical media. The drives and their associated machine-readable media provide nonvolatile storage of machine-executable instructions, data structures, program modules and other data for the computer. It should also be noted that the word “terminal” as used herein is intended to encompass computer input and output devices. Input devices, as described herein, include a keyboard, a keypad, a mouse, joystick or other input devices performing a similar function. The output devices, as described herein, include a computer monitor, printer, facsimile machine, or other output devices performing a similar function. 
     It should be noted that although the diagrams herein may show a specific order and composition of method steps, it is understood that the order of these steps may differ from what is depicted. For example, two or more steps may be performed concurrently or with partial concurrence. Also, some method steps that are performed as discrete steps may be combined, steps being performed as a combined step may be separated into discrete steps, the sequence of certain processes may be reversed or otherwise varied, and the nature or number of discrete processes may be altered or varied. The order or sequence of any element or apparatus may be varied or substituted according to alternative embodiments. Accordingly, all such modifications are intended to be included within the scope of the present invention as defined in the appended claims. Such variations will depend on the software and hardware systems chosen and on designer choice. It is understood that all such variations are within the scope of the invention. Likewise, software and web implementations of the present invention could be accomplished with standard programming techniques with rule based logic and other logic to accomplish the various database searching steps, correlation steps, comparison steps and decision steps. 
     The foregoing description of embodiments of the invention has been presented for purposes of illustration and description. It is not intended to be exhaustive or to limit the invention to the precise form disclosed, and modifications and variations are possible in light of the above teachings or may be acquired from practice of the invention. The embodiments were chosen and described in order to explain the principals of the invention and its practical application to enable one skilled in the art to utilize the invention in various embodiments and with various modifications as are suited to the particular use contemplated. Other substitutions, modifications, changes and omissions may be made in the design, operating conditions and arrangement of the embodiments without departing from the scope of the present invention as expressed in the appended claims.