Patent ID: 8781966

Claim:
A method comprising: receiving, at a computer system, and from a communication network, a request for a money transfer transaction from a user via a mobile device communicating on the communication network, wherein: the mobile device is associated with at least one source account; the mobile device is associated with a service account maintained by a wireless communication provider; and the request includes a biometric reading of a biometric characteristic of the user; receiving, at the computer system, money transfer instructions from the user via the mobile device, wherein the money transfer instructions include at least an amount and a recipient; receiving, at the computer system, a biometric record associated with the service account from the wireless communication provider; verifying, with the computer system, the status of the at least one source account and determining if the amount may be charged against the source account; verifying, with the computer system, a velocity of transactions per time does not exceed a particular amount for the user; causing, with the computer system, validation of the money transfer transaction to occur when the velocity of transactions per time does exceed the particular amount; wherein validation comprises: transmitting, from the computer system, to a failure risk scoring service system, information regarding the money transfer transaction; and receiving, at the computer system, from the failure risk scoring service system, a score indicative of a risk of chargeback assessment; authorizing, with the computer system, the money transfer transaction if the at least one source account may be charged the amount and if the biometric reading matches the biometric record; declining, with the computer system, the money transfer transaction if the at least one credit account may not be charged the amount or the biometric reading does not match the biometric record; charging, with the computer system, the at least one source account at least a portion of the amount if the money transfer transaction is authorized; and transmitting information concerning the money transfer transaction from the computer system to a money transfer facilitator associated with the computer system for completion of the money transfer transaction via provision of funds to the recipient if the money transfer transaction is authorized.