WO2010125577A4 - Cardless financial transaction - Google Patents

Cardless financial transaction Download PDF

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Publication number
WO2010125577A4
WO2010125577A4 PCT/IN2010/000265 IN2010000265W WO2010125577A4 WO 2010125577 A4 WO2010125577 A4 WO 2010125577A4 IN 2010000265 W IN2010000265 W IN 2010000265W WO 2010125577 A4 WO2010125577 A4 WO 2010125577A4
Authority
WO
WIPO (PCT)
Prior art keywords
remitter
beneficiary
transaction
communication device
mobile communication
Prior art date
Application number
PCT/IN2010/000265
Other languages
French (fr)
Other versions
WO2010125577A1 (en
Inventor
Shrivastav Shourabh
Original Assignee
Shrivastav Shourabh
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Shrivastav Shourabh filed Critical Shrivastav Shourabh
Publication of WO2010125577A1 publication Critical patent/WO2010125577A1/en
Publication of WO2010125577A4 publication Critical patent/WO2010125577A4/en

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F19/00—Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
    • G07F19/20—Automatic teller machines [ATMs]
    • G07F19/203—Dispensing operations within ATMs
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
    • G06Q20/322—Aspects of commerce using mobile devices [M-devices]
    • G06Q20/3224—Transactions dependent on location of M-devices
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
    • G06Q20/325—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices using wireless networks
    • G06Q20/3255—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices using wireless networks using mobile network messaging services for payment, e.g. SMS
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F19/00—Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
    • G07F19/20—Automatic teller machines [ATMs]
    • G07F19/211—Software architecture within ATMs or in relation to the ATM network

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Physics & Mathematics (AREA)
  • General Physics & Mathematics (AREA)
  • Strategic Management (AREA)
  • General Business, Economics & Management (AREA)
  • Theoretical Computer Science (AREA)
  • Finance (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Software Systems (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

An embodiment herein provides an authentication server (108) to authenticate in real time a cash withdrawal transaction from a bank account of a remitter (102) at an ATM (114) without using an electronic card. The remitter (102) is subscribed to an authentication service having a user subscription database (202) on the authentication server (108). A transaction code is generated at the authentication server (108) in real time triggered by a request received from the mobile communication device (104) associated with the remitter (102) and communicated to the remitter (102). The remitter (102) communicates the transaction code to the beneficiary (112), and the beneficiary (112) enters the transaction code at the ATM. The transaction is authenticated if a PIN entered by the remitter (102) to log on to a client application (116) at the mobile communication device (104) matches a PIN stored in the user subscription database (202).

Claims

27 AMENDED CLAIMS received by the International Bureau on 15 November 2010 (15.11.10)
1. (Currently Amended) An authentication server to authenticate in real time a cash withdrawal transaction from a bank account of a remitter, wherein said cash withdrawal transaction is performed at an automatic teller machine (ATM) by a beneficiary without using an electronic card, wherein said remitter is subscribed to an authentication service having a user subscription database on said
authentication server, said authentication server configured to execute an authentication process comprising:
processing a request from a mobile communication device associated with said remitter to authorize said cash withdrawal transaction performed by said beneficiary, wherein said request comprises a transaction amount;
verifying that said remitter is subscribed to said authentication service based on an information associated with said mobile communication device associated with said remitter,
generating a transaction code when said transaction amount is less than an available balance in said bank account of said remitter;
communicating said transaction code to said mobile communication device associated with said remitter, wherein said remitter communicates said transaction code to said beneficiary, and said beneficiary enters said transaction code, said transaction amount, and a contact number associated with said mobile communication device associated with said remitter at said ATM to perform said cash withdrawal transaction;
communicating a request to said mobile communication device associated with said remitter, wherein said request comprises a request for a PIN associated with a client application of said mobile communication device associated with said remitter;
obtaining said PIN from said mobile communication device associated with said remitter to authorize said cash withdrawal transaction; and
authenticating said cash withdrawal transaction when said PIN matches with a
PIN associated with said remitter stored in said user subscription database.
2. (Original) The authentication server of claim 1, wherein said authentication process further comprises communicating an acknowledgement message to said beneficiary on said cash withdrawal transaction being authenticated.
3. (Original) The authentication server of claim 1 s wherein said beneficiary enters a financial institution identifier associated with said bank account of said remitter at said ATM on receiving from said remitter to perform said cash withdrawal transaction if said ATM is an ATM that is not associated with said bank account.
4. (Original) The authentication server of claim 3, wherein said remitter communicates said transaction code, said transaction amount, said contact number associated with said mobile communication device associated with said remitter, and said financial institution identifier associated with said bank account of said remitter to said beneficiary via at least one of an SMS channel, an MMS channel, a GPRS data channel, a CDMA data channel, a Bluetooth channel, an infrared channel, an Interactive Voice Response (TVR), or a 3G network.
5. (Original) The authentication server of claim 1, wherein said beneficiary withdraws cash less than said transaction amount from said bank account of said remitter at said ATM, wherein said location identifier is at least one of a STD code, an ISD code, or a postal code. 29
6. (Currently Amended) An authentication server to authenticate in real time a cash withdrawal transaction from a bank account of a remitter, wherein said cash withdrawal transaction is performed at an automatic teller machine (ATM) by a beneficiary without using an electronic card, wherein said remitter is subscribed to an authentication service having a user subscription database on said
authentication server, said authentication server configured to execute an authentication process comprising:
processing a request from said remitter to authorize a transaction amount from said bank account of said remitter to be dedicated to said beneficiary, wherein said request comprises a contact number of said mobile communication device associated with said beneficiary, a transaction amount, and a location identifier of said cash withdrawal transaction;
verifying that said remitter is subscribed to said authentication service based on an information associated with said mobile communication device associated with said remitter,
generating a transaction code if said transaction amount is less than an available balance in said bank account of said remitter;
communicating said transaction code to at least one of a mobile communication device associated with said remitter or a mobile communication device associated with said beneficiary, said beneficiary enters said transaction code, and said transaction amount at said ATM to perform said cash withdrawal transaction, wherein said beneficiary additionally enters a financial institution identifier associated with said bank account of said remitter at said ATM if said ATM is not of a bank with which said remitter has said bank account;
identifying if a location of said ATM matches with said location identifier 30 provided by said remitter;
communicating a message to said mobile communication device associated with said remitter, wherein said message comprises a request for a confirmation to authorize said cash withdrawal transaction;
receiving a response to said request, wherein said response indicates one of a 'yes' or a 'no' from a client application of said mobile communication device associated with said remitter, wherein said remitter sends said response that indicates 'no' to decline said cash withdrawal transaction based on one of a potential fraud or an error on receiving said request from said authentication server; and
authenticating said cash withdrawal transaction to said beneficiary based on said response,
wherein said remitter declines said cash withdrawal transaction using a client application of said mobile communication device associated with said remitter when said remitter suspects said potential fraud or when said remitter sent said request to authorize said cash withdrawal transaction in error.
7. (Currently Amended) The authentication server of claim 6, wherein said
authentication process further comprises communicating an acknowledgement message to said beneficiary on said cash withdrawal transaction being
authenticated by said authentication server; and
declining said cash withdrawal transaction when said transaction amount entered by said beneficiary is greater than said transaction amount specified by said remitter.
8, (Currently Amended) The authentication server of claim 6, wherein said beneficiary declines said cash withdrawal transaction using a mobile communication device 31 associated with said beneficiary when said beneficiary suspects said potential fraud.
9. (Original) The authentication server of claim 6, wherein said beneficiary withdraws cash equal to said transaction amount from said bank account of said remitter at said ATM, wherein said request from said remitter to authorize said transaction amount is processed on said mobile communication device of said remitter using said client application.
10. (Original) The authentication server of claim 6, wherein said remitter communicates said transaction code, said transaction amount, said contact number associated with said mobile communication device associated with said remitter, said location identifier, and said financial institution identifier associated with said bank account of said remitter to said beneficiary via at least one of a telephone call, an email, or a voice message.
11. (Original) The authentication server of claim 7, wherein said beneficiary receives said acknowledgement message from said authentication server via at least one of a SMS, a MMS, or an IVR.
12. (Currently Amended) A method of authenticating in real time a cash withdrawal transaction from a bank account of a remitter, wherein said cash withdrawal transaction is performed at an automatic teller machine (ATM) by a beneficiary without using an electronic card, wherein said remitter is subscribed to an authentication service having a user subscription database on said authentication server, said authentication server configured to execute an authentication process comprising:
processing a request from said remitter to authorize a transaction amount from said bank account of said remitter to be dedicated to said beneficiary, wherein said 32 request comprises a contact number of said mobile communication device associated with said beneficiary, and a transaction amount;
verifying that said remitter is subscribed to said authentication service based on an information associated with said mobile communication device associated with said remitter;
generating a transaction code if said transaction amount is less than an available balance in said bank account of said remitter;
communicating said transaction code to at least one of a mobile communication device associated with said remitter or a mobile communication device associated with said beneficiary, and said beneficiary enters said transaction code, said transaction amount, and at least one of a contact number associated with said mobile communication device associated with said remitter or a contact number associated with said mobile communication device associated with said beneficiary at said ATM to perform said cash withdrawal transaction, wherein said beneficiary additionally enters a financial institution identifier associated with said bank account of said remitter at said ATM if said ATM is not of a bank with which said remitter has said bank account;
communicating a message to said mobile communication device associated with said remitter, wherein said message comprises a request for a confirmation to authorize said cash withdrawal transaction;
receiving a response to said request, wherein said response indicates one of a 'yes' or a 'no' from a client application of said mobile communication device associated with sajd remitter, wherein said remitter sends said response that indicates 'no' to decline said cash withdrawal transaction based on one of a potential fraud or an error on receiving said request from said authentication 33 server;
authenticating said cash withdrawal transaction to said beneficiary based on said response; and
communicating an acknowledgement message to said beneficiary on said cash withdrawal transaction being authenticated by said authentication server, wherein said remitter declines said cash withdrawal transaction using a client application of said mobile communication device associated with said remitter when said remitter suspects a potential fraud or when said remitter sent said request to authorize said cash withdrawal transaction in error,
wherein said beneficiary declines said cash withdrawal transaction using said mobile communication device associated with said beneficiary when said beneficiary suspects said potential fraud.
13. (Original) The method of claim 12, wherein said remitter communicates said
transaction amount, said contact number associated with said mobile
communication device associated with said remitter, and said financial institution identifier associated with said bank account of said remitter to said beneficiary via at least one of an SMS channel, an MMS channel, a GPRS data channel, a CDMA data channel, a Bluetooth channel, an infrared channel, an Interactive Voice Response (TVR), or a 3G network.
14. (Cancelled).
15. (Original). The method of claim 13, wherein said request from said remitter to
authorize said transaction amount from said bank account of said remitter to be dedicated to said beneficiary is sent to said authentication server using said client application of said mobile communication device associated with said remitter.
16. (Original) The method of claim 13, wherein said request from said remitter to 34 authorize said transaction amount from said bank account of said remitter to be dedicated to said beneficiary is sent to said authentication server via internet banking.
PCT/IN2010/000265 2009-04-27 2010-04-27 Cardless financial transaction WO2010125577A1 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
IN957CH2009 2009-04-27
IN957/CHE/2009 2009-04-27

Publications (2)

Publication Number Publication Date
WO2010125577A1 WO2010125577A1 (en) 2010-11-04
WO2010125577A4 true WO2010125577A4 (en) 2011-01-06

Family

ID=42667943

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/IN2010/000265 WO2010125577A1 (en) 2009-04-27 2010-04-27 Cardless financial transaction

Country Status (1)

Country Link
WO (1) WO2010125577A1 (en)

Families Citing this family (19)

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US9208482B2 (en) 2010-04-09 2015-12-08 Paypal, Inc. Transaction token issuing authorities
US10445723B2 (en) 2010-04-09 2019-10-15 Paypal, Inc. NFC-transaction processing systems and methods
US10134031B2 (en) 2010-04-09 2018-11-20 Paypal, Inc. Transaction token issuing authorities
US10304051B2 (en) 2010-04-09 2019-05-28 Paypal, Inc. NFC mobile wallet processing systems and methods
US11887105B2 (en) 2010-04-09 2024-01-30 Paypal, Inc. Transaction token issuing authorities
US8380177B2 (en) 2010-04-09 2013-02-19 Paydiant, Inc. Mobile phone payment processing methods and systems
US9400978B2 (en) 2010-04-09 2016-07-26 Paypal, Inc. Methods and systems for selecting accounts and offers in payment transactions
BR112013016171A2 (en) 2010-12-23 2018-07-17 Paydiant, Inc. mobile phone atm processing systems and methods
GB2494436A (en) * 2011-09-08 2013-03-13 Royal Bank Scotland Plc Wireless payment using blind identifier
US20130262303A1 (en) * 2012-03-27 2013-10-03 Ebay Inc. Secure transactions with a mobile device
EP2856407A4 (en) 2012-05-24 2015-12-23 Paypal Inc Method and systems for wallet enrollment
US20130110718A1 (en) * 2012-11-06 2013-05-02 Jasim Saleh Al-Azzawi Virtual money system
US10275827B2 (en) 2013-03-14 2019-04-30 Fexco Systems and methods for transferring funds using a wireless device
CN104574178A (en) * 2013-10-14 2015-04-29 中兴通讯股份有限公司 Trading method and device for cardless cash withdrawal
WO2016075502A1 (en) * 2013-11-04 2016-05-19 Awolesi Damilola Converting mobile phone credits to cash and payment options
SG11201803469YA (en) 2015-10-27 2018-05-30 Decentralized Mobile Applications Ltd Secure transaction interfaces
US11049096B2 (en) 2015-12-31 2021-06-29 Paypal, Inc. Fault tolerant token based transaction systems
CN107564204A (en) * 2017-08-21 2018-01-09 深圳怡化电脑股份有限公司 A kind of wholesale withdrawal method and atm device
WO2022013885A1 (en) * 2020-07-13 2022-01-20 Suresh Pethe System for providing virtual card using mobile communication device and method thereof

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AU2001277033A1 (en) * 2000-07-20 2002-02-05 Citicorp Development Center, Inc. Method and system for performing a cash transaction with a self-service financial transaction terminal
CN1998016A (en) * 2004-07-05 2007-07-11 般金特尔公司 Method for obtaining cash without card at ATM using a payment order via SMS
ZA200708638B (en) * 2005-04-05 2009-01-28 Standard Bank Of South Africa A method of authenticating a user of a network terminal device and a system therefor

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