TW201642189A - System and method for facilitating remittance - Google Patents

Abstract

Aspects of the invention relate to system, method and non-transitory computer readable medium for facilitating remittance hosted by a network operator. A remittance facilitator comprising at least one processor is arranged receive a remittance request from a sender to a target beneficiary and thereafter a first and second verification is performed to verify the identity of the target beneficiary. The first and second verification include the generation of remittance reference number and a one-time-password.

Description

System and method for facilitating remittance Field of invention

The present invention relates to a system and method for remittance. The system and method are particularly relevant to facilitating both domestic and international remittances.

Background of the invention

The following discussion of the background of the invention is merely intended to facilitate an understanding of the invention. It is understood that the discussion does not endorse or admit that any material referred to is a part of the common general knowledge as disclosed in the priority date of the present invention, known or known in the art.

Current remittance service providers include financial institutions such as banks, remittance agents, and (especially) telecommunications carriers. However, in order to utilize such a money transfer service, both the remitter and the payee must subscribe to a particular service provider and each must have an account associated with the money transfer service provider that can be identified, for example, by a primary account number (PAN). The PAN is a unique identifier. For example, on a credit/debit card, the PAN is a sixteen (16) alphanumeric card number. The bank card number identifies only the card, and then the card is electronically associated with one of its customers by the card issuer and subsequently associated with the customer's designated bank account.

Current remittance service providers typically charge a fee for using their remittance services.

However, the above configuration is restrictive, meaning that it restricts overseas workers who may not have an account and a PAN number or may be limited due to failure to meet certain criteria such as minimum income, residency requirements, and the like.

Within the existing remittance structure, if the remitter wishes to send money to a payee with an account with a different service provider, the remitter or payee will have to open another account so that the service provider has a match for the remittance 』.

More advanced network providers typically have established remittance services for both international and domestic remittances. When initiating a remittance transaction, the remittance service allows the remitter to provide a remitter identifier, such as the payee's MSISDN (ie, mobile phone number) or card PAN (ie, the primary account number) or the closest to the payee. Remittance company or agent location MSISDN or card PAN. If the payee's MSISDN or card PAN is used, the remittance amount is usually credited to the payee's e-wallet account (pre-registration or "instant" generation). If the MSISDN or card PAN closest to the payee's partner remittance company or agent location is used, the payee must physically go to the location to request the amount of the remittance.

Since the recipient of the remittance or the co-transfer company or agent must be the user of the network provider, the above-mentioned remittance service of the advanced network provider has a few limitations. Also, the payee is required to have an e-wallet account, or it must provide MSISDN or card PAN information for a particular remittance company or agent location.

The use of sensitive identifiers such as PAN can be used in some cases Can jeopardize the privacy of the sender or payee. In addition, reducing fraud and improving the security of remittance transactions is critical, especially with respect to international remittances.

The present invention seeks to at least partially improve upon existing remittance systems and methods.

Summary of invention

Throughout the specification, the words "comprise" or variations such as "comprises" or "comprising" are to be understood as implying a group including the stated whole or whole, unless otherwise specified herein. , but does not exclude any other whole or whole group.

In addition, throughout the specification, the words "include" or variations such as "includes" or "including" are to be construed as meaning Group, but does not exclude any other overall or overall group.

One aspect of the present invention is a money transfer system comprising: a money transfer interface operable to receive a money transfer from a sender; a money transfer platform operable to receive a money transfer request from a money transfer interface for a target payee, the money transfer The request contains the unique identifier of the target payee; and the temporary phase account, which retains the original remittance before the original remittance transaction amount is credited to the payee's preferred account or by the payee at the cooperative remittance or agent location Amount of the transaction.

Preferably, the unique identifier is selected from the list containing the MSISDN, the email, the social network ID, and the communication ID, wherein any of the unique identifiers can be selected as the primary identifier.

Preferably, the money transfer interface requests remittance transaction information for delivery to the target payee.

Preferably, the remittance transaction information includes a remittance reference number (RRN) generated via a real-time notification and provided to the target payee.

Preferably, a one-time password (OTP) should be sent to the target payee.

Another aspect of the present invention allows the remitter to provide details of any unique identifier of the payee, including (but not limited to): MSISDN, email address, social network ID, and messaging platform ID of any mobile network operator Or the user ID of any web-based platform or app.

Another aspect of the present invention is to send a personal message to a payee by a remitter.

Another aspect of the present invention allows the target payee to select or select whether to request the remittance amount in cash at any co-reporting agent location, or to have a remittance amount credited to its designated electronic account for payment or later withdrawal. This provides additional convenience and choice for senders and payees.

The present invention allows any money transfer company to use a unique identifier (including but not limited to: any mobile network operator's MSISDN, email address, social network ID, messaging platform ID, or use of any web-based platform or application) ID) Sends international and/or domestic remittance transactions to any payee.

After requesting the remittance amount, the payee can choose to receive the remittance in cash from any remittance company or agent location, or credit the remittance amount to their preferred account.

According to one aspect of the present invention, there is a system hosted by a network operator to facilitate remittance, the system including a money transfer facilitator including at least one of a remittance request received from a remitter to a target payee a processor; the remittance request includes a unique identifier of the target payee; the unique identifier of the target payee is associated with the target destination address; after receiving the remittance request, the remittance facilitator will soon include the remittance reference number (RRN) The electronic notification is sent to the target destination address; after receiving the RRN, the target payee sends the RRN and the transaction information to the money transfer convenience device for the first verification; and after completing the first verification, the money transfer convenience device That is, the notification of the first verification is sent and a one-time password (OTP) is generated to the target destination address for the second verification.

The target payee's unique identifier can include at least one of the following: an action identifier, an email address, a social network user account identifier, a messaging platform identifier, or any web-based platform user. Identifier. The unique identifier can be linked to the source of funding for the target payee.

Electronic notifications may include personal information from the sender.

The network operator can be configured to host an electronic remitter account associated with the remitter, the electronic remitter account configured to communicate with the money transfer facility data. The electronic remitter account can be associated with an approved remittance center on behalf of the remitter and configured to communicate with the remittance facilitator data.

After receiving the remittance request, the remittance facilitator can be configured to debit the remittance and service fee from the electronic remitter account.

The electronic remitter account can be linked to the action identifier of the approved remittance center. Alternatively, an electronic remitter account can be linked to an action identifier The sender's unique identifier.

The network operator can be configured to host a temporary phase account that retains the amount of the remittance prior to the first verification and the second verification. The network operator can be configured to host an electronic target payee account that is associated with the target payee's funding source.

The money transfer facility can be configured to communicate with the source of service funds for credit services and/or commissions.

The transaction information may be "know your customer" information and may include at least one of the following: the name and address of the sender, the name and address of the target payee, the country of the source of the remittance, the country of the destination of the remittance . This type of information can form another layer of verification, especially to verify the identification of the sender and/or target payee.

The RRN may be verified based on at least one of the following criteria: validity period, sender's identifier, target payee's identifier, a mixture of any two of the above.

The RRN may be generated by a money transfer facilitator, or alternatively by an electronic money transfer account.

The RRN and/or OTP can be sent from the money transfer facilitator to the target money transfer agent and/or the target payee via a separate channel. The target payee will then have to present the RRN and/or OTP to the remittance agent for verification. The remittance agent then sends the verified RRN and/or OTP to the money transfer convenience device.

According to another aspect of the present invention, there is a method for facilitating remittance by a network operator, the method comprising the steps of: receiving, by a money transfer facilitator, a remittance request from a remitter to a target payee; the remittance please The request includes a unique identifier of the target payee; the unique identifier of the target payee is associated with the target destination address; and after receiving the remittance request, an electronic notification including the remittance reference number (RRN) is sent to the target destination a location address; wherein after receiving the RRN, the RRN and the transaction information from the target payee are sent to the money transfer convenience device for the first verification; and after the first verification is completed, the first verification is sent from the money transfer convenience device The notification and the one-time password (OTP) is generated by the money transfer facilitator to the target destination address for the second verification.

The target payee's unique identifier can include at least one of the following: an action identifier, an email address, a social network user account identifier, a messaging platform identifier, or any web-based platform user. Identifier.

The method may further comprise the step of linking the unique identifier to the source of funding of the target payee.

Electronic notifications may include personal information from the sender.

The network operator can be configured to host an electronic remitter account associated with the remitter, the electronic remitter account configured to communicate with the money transfer facility data.

The network operator is configured to host an electronic money transferor account associated with the approved money transfer center on behalf of the sender, the electronic money transfer account being configured to communicate with the money transfer facility data.

After receiving the remittance request, the method may further include the step of debiting the remittance amount and the service fee from the electronic remitter account.

The method can include linking the electronic money transfer account to the approved sink The steps of the action identifier associated with the center.

Alternatively, the step of linking the electronic money sender account to the sender unique identifier that does not include the action identifier.

The network operator can be configured to host a temporary phase account that retains the amount of the remittance prior to the first verification and the second verification.

The network operator is configured to host an electronic target payee account that is associated with the target payee's funding source.

The money transfer facility can be configured to communicate with the source of service funds for credit services and/or commissions.

The transaction information may include at least one of the following: the name and address of the remitter, the name and address of the target payee, the country of the remittance, and the country of destination of the remittance.

The RRN may be verified based on at least one of the following criteria: validity period, sender's identifier, target payee's identifier, a mixture of any two of the above.

The method can further include generating the RRN by the money transfer facilitator. Alternatively, the method can further include the step of generating an RRN by an electronic money transfer account.

According to another aspect of the present invention, there is a non-transitory computer readable medium storing a program, wherein when executing the program, causing a computer to perform a method of facilitating remittance, the method comprising the steps of: waiting to be received from a remitter to a target The remittance request of the payer; the remittance request includes the unique identifier of the target payee; the unique identifier of the target payee and the target destination bit The address is associated; after receiving the remittance request, an electronic notification including a remittance reference number (RRN) is sent to the destination destination address; after receiving the RRN, the RRN is received from the target payee to the money transfer convenience device and Transaction information; verify RRN and transaction information; send notification of verification; and generate a one-time password (OTP) to the destination destination address.

The non-transitory computer readable medium execution may further comprise a method of generating an RRN prior to transmitting the RRN to the target destination address.

10, 20, 30‧ ‧ remittance system

11, 101, 201, 301‧ ‧ remitter

12‧‧‧Network operators

14, 104, 204, 304‧‧‧ Remittance Convenience

16‧‧‧User device

18, 114, 214, 314‧ ‧ target payee

102, 112, 202, 212, 302‧‧‧ remittance companies

106, 206‧‧‧ pool account

108, 208, 308‧‧‧ Electronic Remittance Account

110, 210‧‧‧ MIMO recipient account

306‧‧‧ funds account

310‧‧‧MIMO Agent

312‧‧‧ MIMO account

S1002, s1004, s1006, s1008, s1010, s1012, s1014, s1016, s1018, s1020, s1022, s1024, s1026, s1028, s1030, s1032, s1034, s1036, s1038, s1040, s1042, s1044, s2002, s2004, s2006, S2008, s2010, s2012, s2014, s2016, s2018, s2020, s2022, s2024, s2026, s2028, s2030, s2032, s2034, s2036, s2038, s2040, s2042, s2044, s2046, s2048, s2050, s3002, s3004, s3006, S3008, s3010, s3012, s3014, s3016, s3018, s3020, s3022, s3024, s3026, s3028, s3030, s3032 S3034, s3036, s3038, s4004, s4006, s4008, s4008a, s4040, s4012, s4014, s4016, s4018, s4020, s4022, s4024, s4026, s4028, s4030, s4032, s4034, s4036, s4038, s4040, s4042, s4044, S4046‧‧‧Steps

The invention will now be described with reference to the accompanying drawings, in which: FIG. 1 shows a system block diagram of a money transfer system, and FIG. 2 shows a system for a domestic money transfer system according to an embodiment of the present invention. FIG. 3 is a flowchart of a system with a fixed partner remittance system for international remittance by a fixed partner according to another embodiment of the present invention; and FIGS. 4a and 4b are other embodiments in accordance with the present invention; System flow diagram for remittance systems used by international partners for international remittances.

Detailed description of the preferred embodiment

In accordance with an aspect of the present invention and with reference to FIG. 1, there is a remittance system 10 for processing a domestic remittance request from a remitter who is the party that initiates a remittance request or remittance transaction to the target payee.

The network operator 12 hosts the money transfer system 10. Network operator 12 Can be a telecom operator. The telecommunications carrier may include the necessary gateways and network nodes for hosting the money transfer system 10.

The money transfer system 10 includes a money transfer facilitator 14. The money transfer facilitator 14 includes at least one processor. The at least one processor can be a computer server or a distributed computer server configured to receive a remittance request from the remitter to the target payee 18 via a gateway of the network operator. The remittance request is an electronic request that can be sent by the user device 16, and the remitter 11 uses the user device 16 to send an electronic request to the money transfer facilitator 14. The user device 16 can be a smart phone, computer or any computer device capable of establishing a data connection with the money transfer facilitator 14. The data connection can be a wired or wireless connection.

The remittance request contains the unique identifier of the target payee; the unique identifier of the target payee is associated with the target destination address. The unique identifier of the target payee 18 can be one of the following: an action identifier, an email address, a social network user account identifier, a messaging platform identifier, or any web-based platform user. Identifier. Any of these unique identifiers of the target payee may be used as the primary identifier of the target payee for the purpose of the remittance transaction, rather than using a traditional unique identifier such as PAN, and thus will not be exposed The target payee's account. The unique identifier can be linked to the source of the target payee. The source of funds can be the account of the target payee at a bank, remittance center or other financial institution. Multiple accounts of the target payee can be linked using a unique unique identifier or a different unique identifier.

After receiving the electronic remittance request, the remittance facilitator 14 sends an electronic notification including the remittance reference number (RRN) to the target payee. The target destination address of the association. The electronic notification may be in the form of a short message service (SMS) message or any other electronic text or multimedia message not limited to a multimedia message service (MMS) message, unstructured supplementary service material (USSD), or the like.

Upon receipt of the RRN, the target payee sends the RRN and transaction information to the money transfer facilitator 14 for the first verification.

The first verification is based on RRN and transaction information. Trading information can be "know your customer" or KYC information. KYC information may include account identifiers, addresses, remittance sources, and/or destination countries or any other information that may help identify the identity of the target payee. The transaction information includes at least one of the following: the name and address of the sender, the name and address of the target payee, the country of the remittance, and the country of destination of the remittance.

The verification process attempts to verify the identity of the target payee 18 and the RRN. The RRN is verified based on at least one of the following criteria: validity period, sender's identifier, target payee's identifier, a mixture of any two of the above. As an example, the RRN may include a series of alphanumeric characters and/or numbers resulting from a fixed or random combination of the sender's identifier, the target payee's identifier, the transaction reference number, the expiration date, and the like.

After completing the first verification, the money transfer facilitator 14 sends a notification of whether the first verification is successful. If the first verification is successful, a one-time password (OTP) is generated to the target destination address for the second verification.

For the purpose of initiating the remittance, the remitter may utilize a remittance agent having the necessary hardware configured to communicate with the money transfer facilitator 14 such as, but not limited to, a wired or wireless computer device, a point of sale device Wait. The remitter or remittance agent can be maintained by the network operator for use in An electronic account such as a debit or credit operation.

For the purpose of completing or facilitating the remittance, the target payee 18 may utilize a smart phone, a computer, or any computer device capable of establishing a data connection with the money transfer facilitator 14. The target payee 18 can also implement remittance by going to the remittance agent, which has the necessary hardware configured to communicate with the remittance facilitator 14, such as (but not limited to), wired or wireless computer devices, point-of-sale devices, etc. . The target payee 18 or money transfer agent may have an electronic account maintained by the network operator for operations such as debit or credit.

The money transfer facilitator 14 can send the RRN and OTP to the target destination address associated with the target payee 18. The target destination address can be linked to the payee's email, the unique identifier of the social network account, or the action identifier of the computer/mobile device that is used by the target payee 18. The target destination address can be further associated with a remittance agent or any authorized agent acting on behalf of the target payee.

Referring to Figure 2, an embodiment of the present invention relates to the deployment of a system for domestic remittance. In the embodiment of FIG. 2, the network operator is configured to host an electronic remitter account associated with the remitter, the electronic remitter account configured to communicate with the money transfer facilitator data.

The remitter may have an electronic account with respect to the network operator (see MIMO Transmitter Account 108). For example, the remitter can be a user user of the network operator and in such cases, the electronic remitter account 108 can be a user user with respect to the e-wallet account that the network operator has. In other embodiments, the remitter may not be a user user of the network operator. In such cases, the sender can use the approved remittance centre or institution (also That is, the MIMO transmitter 102) performs a remittance transaction on its behalf. In such cases, the approved remittance center or institution has an electronic remittance account for the network operator to represent the sender. The MIMO transmitter 102 can be the originator of the remittance transaction, or the physical location of the recipient. In the embodiment of FIG. 2, the MIMO Transmitter Account 108 is an electronic account assigned to the remittance company that initiated the remittance transaction. This is the source of funds for internal remittance services.

The electronic remitter account can be linked or associated with an action identifier (eg, an MSISDN issued by a telecommunications carrier).

The network operator 12 can be configured to host the temporary phase account, i.e., the pool account 106 that is configured or configured to retain the remittance amount prior to the first verification and the second verification. The pool account 106 is typically an electronic account that serves as a temporary stage account that retains the original remittance transaction amount before the original remittance transaction amount is credited to the payee's preferred account or redeemed by the payee at the cooperative remittance or agent location.

The network operator 12 can be configured to host an electronic target payee account that is associated with the target payee's funds account. The MIMO recipient account 110 may be an account assigned to a remittance company or agent that receives remittances to be redeemed by the target payee. If the target payee is a user user of the network operator, the electronic target payee account 110 may be the electronic wallet of the target payee in the network operator.

In the embodiment of FIG. 2, the electronic target payee account 110 is associated with a money transfer agent (see MIMO recipient) 112 that represents the target payee 114.

The money transfer platform 104 processes any of the transactions in the embodiment.

Embodiments will then be described in the context of domestic remittances from remitter 101 to target payee 114, where remitter 101 and target payee 114 utilize remittance companies 102, 112 for purposes of facilitating remittance. The money transfer company 102, 112 has an electronic money transferer account 108 and an electronic target payee account 110, respectively, for the network operator. The money transfer companies 102, 112 can be the same company. The target payee 114 may not be a user of the network operator but may be identified by an action identifier or other unique identifier.

The remitter 101 should provide remittance information including the transaction amount and the target unique identifier of the target payee to the remittance company 102. The remittance company 102 should also collect the necessary information from both the remitter and the payee to understand your customer (KYC) information in order to comply with anti-money laundering policies and regulations (step s1002). When the remittance transaction has been initiated, a remittance reference number (RRN) is generated via real-time notification and provided to the target payee. Real-time notifications can be in the form of short message service (SMS) messages or other electronic messages, multimedia or other forms. The RRN may be generated by a network provider's mobile money transfer service (not shown) or a remittance company 102 that initiates a remittance transaction.

If the remitter 101 wishes to do so, it may also include a personal message that should be transmitted to the target payee and a notification of the remittance transaction.

Upon receiving the transaction amount and the KYC details, the MIMO remitter 102 initiates the remittance request and sends it to the money transfer facilitator 104 (step s1004). A remittance request can be sent from the mobile device 120. For the purpose of facilitating the remittance process and sending an electronic remittance request, the mobile device 120 may be in the form of a smart phone on which a dedicated software application (commonly known as "App") is installed. exchange Requests can also be in the form of SMS, USSD messages, etc.

Upon receiving the remittance request, the money transfer facilitator 104 debits the transaction amount from the electronic remitter account 108 (step s1006) and the associated service fee (step s1008).

Once the debit is successfully completed, the money transfer facilitator 104 then credits the transaction to the pool account (s1010). The money transfer facilitator 104 then transmits an RRN notification (pre-generated) to the target payee 114 (step s1012). This is accomplished via a unique identifier provided by the remitter 101 associated with the target payee 114.

Upon receiving the RRN, the target payee 114 presents the RRN to the MIMO receiver 112 for redemption (step s1014). In addition to the RRN, KYC details may be presented to the MIMO receiver 112 for verification (step s1016). Upon receiving the RRN KYC details, the MIMO receiver 112 sends the provided RRN to the access code associated with the destination address of the money transfer facilitator 104 (step s1018).

After receiving the RRN, the money transfer facilitator 104 verifies the RRN (step s1020) and generates a one-time password OTP (step s1022). The notification of the valid RRN (step s1024) and the request for the OTP (step s1026) are sent from the money transfer facilitator 104 to the MIMO receiver 112. If the RRN is not successfully verified at the first verification, no OTP is generated and both the target payee 114 and the MIMO receiver 112 are informed. OTP can be effective for a period of time, for example, OTP will no longer be valid after five or ten minutes.

Verifying the RRN in step s1020 may include verifying that the RRN is correct with respect to format, validity period, and the like.

The money transfer facilitator 104 also sends the OTP to the recipient 114 for use. The OTP is presented to the MIMO receiver 112. Upon receiving the OTP, the recipient 114 informs or communicates the OTP to the MIMO receiver 112 (step s1030), and the MIMO receiver 112 then transmits or transmits the OTP to the money transfer facilitator 104 (step s1032).

Once verified, the money transfer facilitator 104 debits the money transfer amount from the pool account 106 (step s1034). The money transfer facilitator 104 then credits the money transfer to the MIMO recipient account 110 (step s1036) and debits the service fee from the MIMO recipient account 110 (step s1038). The electronic notification of successful reception of the service fee is transmitted to the MIMO receiver 112 (step s1040). Another electronic notification that the money transfer agent 112 has received the money transfer is sent to the target payee (step s1042). The agent 112 then pays to the target payee 114 (step s1044).

In some embodiments (not shown), after receiving the RRN, the target payee 114 may choose to credit the remittance amount to its preferred account, rather than requesting the remittance amount in cash from the remittance company or agent.

The above embodiments provide flexibility to target payees who may not be part of the network operator receiving the money transfer via multiple means that do not compromise security. The first verification (in the form of an RRN) and the second verification (in the form of an OTP) are sent to the target payee 114 and the remittance agent 112, respectively, if the target payee does not have an account with the network operator. . The communication channels (from the money transfer facilitator 104 to the target payee 114) for transmitting authentication information in steps s1012 and s1028 are different from the communication channels (from the agent 112 to the money transfer convenience device 104) for receiving details to be verified.

In some embodiments, the target payee must provide its RRN and any KYC information used to prove identity to the authorized representative of the money transfer company. Reason.

The authorized remittance agent 112 will use the RRN to request remittance transaction information from the network provider's mobile remittance service. The information will include at least one of the following:

‧ Remittance transaction amount

‧KYC information for remitter and/or payee

In general, the agent 112 will compare the payee's identity certificate with the KYC information retrieved from the network provider's action remittance service. In addition to remittance transaction information, when the agent uses RRN to request remittance transaction information, the network provider's remittance service will generate a one-time password (OTP) that should be sent to the target payee. The target payee should also present the OTP as another proof of identity to the agent. The agent should request the network provider's money transfer service to verify the OTP. Once the OTP has been verified and the agent confirms that the identity certificate presented by the payee matches the KYC information retrieved, the agent can issue the amount of the remittance to the target payee.

In another embodiment as shown in FIG. 3, the money transfer system 20 is configured to perform an international money transfer. In the context of an international remittance embodiment, the remitter may repatriate the money to an overseas worker (OFW) 201 who is the target payee 214 in his or her country of origin. The remittance system 20 for facilitating international remittances includes similar elements 101, 102, 104, 106, 108, 110, 112, 114 as described in the previous embodiments, and such elements are in the embodiment illustrated in FIG. They are called 201, 202, 204, 206, 208, 210, 212, 214. Partner account 208 is an electronic money transfer account but is not linked to an action identifier or MSISDN. Partner account 208 compared to MIMO sender account User 108 typically has a higher remittance limit.

The embodiment illustrated in Figure 3 will then be described in the context of international remittances from OFW 201 to the target payee 214, where the remitter 201 and the target payee 214 utilize the remittance partner 202 to facilitate remittance. The remittance partner 202 has an electronic remittance account 208 for the network operator. The target payee 214 can receive the money transfer from the MIMO location 212. The remittance partners 202, 212 can be the same company. The target payee 214 may not be a user of the network operator but may be identified by an action identifier or other unique identifier.

The OFW 201 goes to the remittance partner 202 and provides remittance information including the transaction amount and the target unique identifier of the target payee 214 to the remittance partner 202. The remittance partner 202 should also collect the necessary knowledge of your customer (KYC) information to comply with anti-money laundering policies and regulations (step s2002) for both OFW and target payee 214.

Upon receipt of the transaction amount and KYC details, the remittance partner 202 initiates the remittance request and sends the remittance request and remittance details to the remittance facilitator 204 (step s2004).

Upon receiving the remittance request, the remittance facilitator 204 debits the transaction amount (step s2006) and the associated service fee (step s2008) from the cooperating company electronic remitter account 208.

Once the debit is successfully completed, the money transfer facilitator 204 then credits the transaction to the pool account 206 (s2010). The money transfer facilitator 204 then sends an SMS notification to the target payee 214 (step s2012) to request a remittance at any MIMO location 212. An SMS notification of the RRN is also transmitted (step s2014). Implemented by the sender 201 with a unique identifier associated with the target payee 214 Steps s2012 and s2014.

Upon receiving the RRN, the target payee 214 presents the RRN to the MIMO 212 for redemption (step s2016). In addition to the RRN, KYC details may be presented to MIMO 212 for verification (step s2018). Upon receiving the RRN and KYC details, MIMO 212 sends the provided RRN to the access code associated with the money transfer facilitator 104 (step s2020).

After receiving the RRN, the money transfer facilitator 204 verifies the RRN (step s2022), and generates a one-time password OTP (step s2024). The remittance details (step s2026) and the request for OTP (step s2028) are sent from the money transfer facilitator 204 to the MIMO 212. If the RRN is not successfully verified at the first verification, no OTP is generated and both the target payee 214 and the MIMO 212 are informed. OTP can be effective for a period of time, for example, OTP will no longer be valid after five or ten minutes, two minutes or three minutes.

Verifying the RRN in step s2022 may include verifying that the RRN is correct with respect to format, validity period, and the like.

The money transfer facilitator 204 also sends the "OTP notification" to be provided to the recipient 214 for presentation thereof to the MIMO 212 (step s2030). Upon receiving the OTP, the recipient 214 informs or communicates the OTP to the MIMO receiver (step s2032), and the MIMO 212 then transmits or transmits the OTP to the money transfer facilitator 204 (step s2034).

Once verified (not shown), the money transfer facilitator 204 debits the money transfer amount from the pool account 206 (step s2036). The money transfer facilitator 204 then credits the money transfer to the MIMO recipient account 210 (step s2038) and debits the service fee from the MIMO recipient account 210 (step s2040). Electronics that will successfully receive service fees The notification is sent to the MIMO receiver 212 (step s2042). Another electronic notification that the MIMO 212 has received the money transfer is sent to the target payee (step s2044).

The money transfer facilitator 204 then sends the remittance transaction to the remittance partner 202 for the required notification (step s2046). If a relevant detail such as an MSISDN or an email address is provided, the money transfer transaction also sends an email or SMS notification to the OFW 201 (step s2048). At the same time, the remittance from the MIMO 212 to the target payee 214 (in the form of a presentation payment) is performed (step s2050). Step s2050 may be performed later or before step s2046 or before step s2048.

In accordance with another embodiment of the present invention and with reference to Figures 4a and 4b, there is a money transfer system 30 for processing international remittance requests from a remitter, which is an international/critical partner 302. The difference between an international remittance agent for an international/important partner 302 compared to a fixed partner is at least the following:-

‧The important partner 302 is about the remittance company or agent that maintains the open network system. In the case of the open network system, the cooperative remittance system such as the remittance system 30 can be “extracted” or retrieved to facilitate the remittance or Perform KYC information on validity checks.

‧ The cooperative remittance system 30 can also update the status in the database maintained by the important partner 302, such as "payment", "complete", "issued to the payee" and the like.

In this setting, the cooperative money transfer system 30 can use the application programming interface (API) of the important partner 302 and follow the integration guidelines/rules of the important partner 302. Target payee 314 can also be an important partner Remittance is requested at any of the 302 network and/or money transfer system 30 networks.

‧ Conversely, a fixed partner (similar to the remittance partner 202) can push the remittance to the system 20 but the system 20 may not "extract" the data for verification. In addition, the target payee can request a remittance from any of the agents authorized by the remittance system 20.

The money transfer system 30 in cooperation with the important cooperative money transfer agent 302 includes a money transfer facilitator 304; a fund account 306; a partner account 308; a MIMO agent 310 (which may be used interchangeably with the term "MIMO" hereinafter); a recipient account 312. The partner account 308 has similar functionality to the MIMO remittance account number described in the previous embodiment. The money transfer system 30 includes an electronic wallet funds account 306 in which any transaction fees and service fees can be debited and/or credited.

The embodiment illustrated in Figure 4a will then be described in the context of international remittances from OFW 301 to the target payee 314, where the remitter 301 and the target payee 314 utilize the remittance important partner 302 to facilitate remittance. The remittance partner 302 has an electronic remittance account 308 for the network operator. The target payee 314 can receive the money transfer from the MIMO location 310. MIMO 310 can be any partner of the important partner 302 or the money transfer system 30. The target payee 314 may not be a user of the network operator but may be identified by an action identifier or other unique identifier.

It should be appreciated that in the embodiment illustrated in Figure 4a, the important partner 302 facilitates the generation of the RRN and the verification of the RRN (first verification).

OFW 301 goes to the remittance partner 302 and provides remittance information including the transaction amount and the target unique identifier of the target payee 314 to Remittance partner 302. The remittance partner 302 should also collect the necessary knowledge of your customer (KYC) information to comply with anti-money laundering policies and regulations (step s3002) for both OFW and target payee 314.

Upon receipt of the transaction amount and KYC details, the remittance partner 302 generates, initiates, and notifies the RRN to the target payee 314 (step s3004). Upon receipt of the RRN notification, the target payee presents the RRN and other transaction details to the MIMO agent 310 for redemption (step s3006).

The MIMO proxy 310 transmits the RRN and the key in the access code of the money transfer facilitator 304 (step s3008). An example of a grammar in the form of an electronic SMS message can be:

The access code is <REMCO Name>space<RRN>. The access code can be in the form of a short code, such as a four bit short code in the form "8890".

After receiving the SMS message, the money transfer facilitator 304 sends the RRN to the important partner 302 for verification (step s3010). For this purpose, the important partner 302 contains the necessary hardware such as a database, a server, and the like.

Once verified, the important partner 302 should communicate the above to the money transfer facilitator 304 (step s3012).

After the RRN is verified, the remittance details are sent from the money transfer facilitator 304 to the MIMO 310. MIMO 310 exchanges KYC details with target payee 314 to identify the identity of target payee 314 in step s3016. Once the identity of the target payee 314 has been confirmed, the target payee 314 continues to inform MIMO 310 of its action identifier (such as MSISDN) (s3018). MIMO 310 sends the received action identifier as an electronic SMS message to the remittance facility The device 304 (s3020). The electronic SMS message can be in the syntax <OK>space<Mobile number> for the access code. The access code can be in the form of a short code, such as a four bit short code in the form "8890".

After receiving the SMS, the money transfer facilitator 304 continues to debit the transaction from the partner account 308 (step s3022). If necessary, the money transfer facilitator 304 further debits the service fee from the partner account 308 (step s3024).

Subsequently, the money transfer facilitator 304 continues to credit the transaction (step s3026) and/or service charge (step s3028) to the MIMO account 312. Once completed, the commission is charged from the funds account 306 (step s3030). The RRN is then locked by the money transfer facilitator (step s3032).

Once the RRN is locked, the RRN cannot be used for any other remittance transaction.

To complete the remittance transaction, a notification of successful receipt of funds is sent from the money transfer facilitator 304 to the MIMO 310 (step s3034). Another notification of successful receipt of funds by MIMO 310 is sent to the target payee 314 (step s3036). Cash payment is then made to the target payee 314 from MIMO 310 (step s3038).

Another embodiment of an important partner remittance model is shown in Figure 4b, where like reference numerals refer to like components.

The OFW 301 goes to the remittance partner 302 and provides remittance information including the transaction amount and the target unique identifier of the target payee 314 to the remittance partner 302. The remittance partner 302 should also collect the necessary knowledge of your customer (KYC) information to comply with anti-money laundering policies and regulations (step s4004) for both OFW and target payee 314. Then transfer the details of the remittance from the remittance cooperation The partner 302 sends to the money transfer convenience device 304 (step s4006). In the case where the RRN is generated by the money transfer facilitator 304, the SMS notification of the RRN is transmitted to the target payee 314 (step s4008). In the case where the RRN is generated by the remittance partner 302, the SMS notification of the RRN is transmitted from the remittance partner 302 to the target payee 314 (step s4008a). Upon receiving the SMS notification of the RRN, the target payee provides the RRN to the MIMO 310 for redemption (step s4010). In addition, the KYC details are exchanged between the MIMO 310 and the target payee 314 to confirm the identity of the target payee 314 (step s4012).

The MIMO proxy 310 then transmits the RRN and the key in the access code of the money transfer facilitator 304 (step s4014). An example of a grammar in the form of an electronic SMS message can be:-

The access code is <REMCO Name>space<RRN>. The access code can be in the form of a short code, such as a four bit short code in the form "8890".

After receiving the SMS message, the money transfer facilitator 304 verifies the RRN. If the RRN is generated by the remittance partner 302, the money transfer facilitator 304 sends the RRN to the remittance partner 302 for verification (step s4016), and the remittance partner 302 then sends the verification result back to the remittance facilitator 304 (step S4018). After the RRN is successfully verified, an OTP is generated (step s4020). The remittance details (step s4022) and the request OTP (step s4024) are sent to the MIMO 310. The OTP is then provided to the target payee 314 (step s4026) to deploy it to the MIMO 310 for verification. Upon receiving the OTP, the target payee 314 informs the MIMO 310 of the above (step s4028). The MIMO 310 then transmits the received OTP to the money transfer facilitator 304 for verification (step s4030). This can be for access codes (for example, short codes) 8890) is in the form of an SMS message with the syntax <OTP>.

Once the OTP is verified, the money transfer facilitator 304 then debits the transaction amount from the partner account 308 (step s4032) and any service charges (step s4034). The money transfer facilitator 304 then credits the money transfer amount (step s4036) and any associated service fees (step s4038) to the MIMO account 312. Any commission for the money transfer facilitator 304 is credited to the fund account 306 (step s4040). The notification of successful receipt of funds is transmitted from the money transfer facilitator 304 to the MIMO 310 (step s4042), and a notification of successful receipt of funds by the MIMO 310 is transmitted to the target payee (step s4044). Cash payment is then made to the target payee 314 (step s4046).

In some embodiments, a non-transitory computer readable medium containing a stored program, wherein the program, when executed, causes a computer (such as money transfer facilitator 104, 204, 304) to perform a method of facilitating the transfer, the method comprising the steps of: waiting Receiving a remittance request from the remitter (MIMO remitter, remittance partner) to the target payee; the remittance request includes a unique identifier of the target payee; the unique identifier of the target payee is related to the target destination address After receiving the remittance request, an electronic notification including the remittance reference number (RRN) is sent to the destination destination address; after receiving the RRN, the RRN and the transaction information received from the target payee to the remittance facilitator are received. ; verify the RRN and the transaction information; send a verification notification; and generate a one-time password (OTP) to the destination destination address.

In various embodiments, the sending and receiving of remittance requests, notifications, RRNs, and OTPs may be implemented using a fixed communication protocol such as HTTPS.

The described embodiments may include management for storage in unique knowledge Alias, transaction records, notifications, database management systems for data in one or more of the RRNs and OTPs associated with each remitter and/or target payee.

In general, the present invention has been developed to address the following issues:

‧Allow the use of unique identifiers (including (but not limited to): any mobile network operator's MSISDN, email address, social network ID, messaging platform ID or user ID of any web-based platform or application) The remittance transaction is sent to any target payee.

‧ Provide additional security to use the unique identifier of the target payee for remittance transactions rather than sharing personal bank accounts and/or debit card numbers.

‧Provide certain transaction information to the remittance company or agent, including (but not limited to) the name and address of the sender and target payee and the source of the remittance at the point where the payee requested the remittance transaction country.

‧ Provide additional remittance transaction security by using one-time password (OTP) when remittance transactions are requested in cash from a remittance company or agent location.

‧ Provide additional convenience to the target payee by allowing the target payee to choose the preferred channel (for example, in the form of a cash or credit account) at the point where the remittance transaction is required.

‧ Provide additional convenience to the target payee by allowing the target payee to request remittance transactions at any remittance company or agent location regardless of the affiliation with the original remittance company.

‧ Provide additional convenience for both the sender and the target payee by allowing the sender to send a personal message so that the target payee can immediately identify the source of the remittance and the purpose of the remittance transaction.

By using the target payee's unique identifier and one-time password (OTP) for additional transaction security - other remittance services use the combination of the target payee name and the transaction/tracking reference number as the primary identifier for the remittance transaction.

The unique identifier and the use of OTP allow:

‧ Since the details of the remittance transaction are sent directly to the target payee via its unique identifier, the remittance transaction is additionally guaranteed to be required by the correct target payee.

‧Because the OTP must be provided in conjunction with the Request Reference Number (RRN) when requesting a remittance, the identity of the target payee is additionally demonstrated. This prevention can occur if an RRN can be intercepted by other parties who are attempting to use the RRN and the pseudo ID to request the remittance transaction.

‧ Additional protection of personal data as the unique identifier of the target payee is used as one of the primary identifiers of the remittance transaction. Other remittance services require the sharing of personal bank numbers or debit/credit card information with the sender and/or remittance company.

Additional convenience for the target payee at the point where the remittance transaction is required - the remittance service requires the remitter to provide access to the target payee who can request remittance (for example, cash at the agent location, personal bank account, etc.). The payee has no choice but to access the most convenient way to send money. With the present invention, the payee has more control over its preferred channel for requesting transactions, including at its preferred remittance agent location (which may or may not be affiliated with the original Cash remittance company) gets cash or imports it into its account.

Providing additional convenience for both the sender and the target payee by allowing the sender to send personal messages - other remittance services do not provide this feature, so the responsibility is for the sender to send the personal message to the payee separately, Additional fees may apply. For payees, personal messages help identify the sender and prove that the remittance transaction is a real transaction.

The unique identifier of the target payee (including but not limited to: the MSISDN, email address, social network ID, messaging platform ID or user ID of any web-based platform or application of any mobile network operator) Use of - Other remittance services use only the target payee name and / or MSISDN as the primary identifier. Use any unique identifier to allow any payee to use the service. Since there is no need to share a bank account or debit/credit card number with the sender and/or the money transfer company, the unique identifier will also protect the payee's personal information.

Use of One-Time Passwords - OTP supplements the use of Remittance Reference Number (RRN) by providing additional status of the payee. This prevention can occur if an RRN can be intercepted by other parties who are attempting to use the RRN and the pseudo ID to request the remittance transaction.

Use of personal information from the sender - other remittance services do not provide this feature, so the responsibility is for the sender to send a personal message to the payee separately, which may involve additional fees. For payees, personal messages help identify the sender and prove that the remittance transaction is a real transaction.

A two-step verification process including RRN and OTP improves the security of remittances.

It will be further understood by those skilled in the art that the variations and combinations of the features described above may be combined with the alternatives or alternatives to form a further embodiment of the present invention.

10‧‧‧Remittance system

11‧‧‧Remitters

12‧‧‧Network operators

14‧‧‧Reseller Convenience/Remittance Platform

18‧‧‧ Target Payee

Claims (34)

A system for facilitating remittance escrowed by a network operator, comprising: a money transfer facilitator comprising at least one processor receiving a remittance request from a remitter to a target payee; the remittance The request includes a unique identifier of the target payee; the unique identifier of the target payee is associated with a target destination address; after receiving the remittance request, the remittance facilitator will soon include a remittance reference number One of the (RRN) electronic notifications is sent to the target destination address; wherein after receiving the RRN, the target payee sends the RRN and a transaction information to the money transfer convenience device for a first verification; After completing the first verification, the money transfer facilitator sends a notification of the first verification and generates a one-time password (OTP) to the target destination address for a second verification. The system of claim 1, wherein the unique identifier of the target payee comprises at least one of: an action identifier, an email address, a social network user account identifier, a message A platform identifier or a user identifier for any web-based platform. The system of claim 2, wherein the unique identifier is linked to a source of funds of the target payee. A system as in any one of the preceding claims, wherein the electronic notification comprises a personal message from the sender. A system as claimed in claim 1, wherein the network operator is configured to host an electronic money transferor account associated with the sender, the electronic money transfer account being configured to communicate with the money transfer facility data. A system as claimed in claim 1, wherein the network operator is configured to host an electronic money transferor account associated with the approved money transfer center on behalf of the one of the senders, the electronic money transferor account being configured with the money transfer facility information Communication. The system of claim 5 or 6, wherein upon receipt of the remittance request, the money transfer facilitator debits the remittance and a service fee from the electronic remitter account. The system of any one of claims 5 to 7, wherein the electronic money transferor account is linked to an action identifier of the approved money transfer center. The system of any one of claims 5 to 7, wherein the electronic remitter account is linked to a remitter unique identifier other than an action identifier. A system as in any one of the preceding claims, wherein the network operator is configured to maintain a temporary phase account of the remittance amount prior to the first verification and the second verification. A system as in any one of the preceding claims, wherein the network operator is configured to host an electronic target payee account that is associated with a source of funding for the target payee. A system as in any one of the preceding claims, wherein the money transfer facilitator communicates with a source of service funds for one of a credit service and/or a processing fee. The system of any of the preceding claims, wherein the transaction information includes At least one of the following: the name and address of the sender, the name and address of the target payee, the country of origin of the remittance, and the country of destination of the remittance. A system as in any one of the preceding claims, wherein the RRN is verified based on at least one of the following criteria: an expiration date, one of the remittance identifiers, one of the target payee identifiers, one of the two mixing. A system as in any one of the preceding claims, wherein the RRN is generated by the money transfer facilitator. The system of any one of clauses 5 to 9, wherein the RRN is generated by the electronic money transferor account. A method for facilitating remittance escrowed by a network operator, comprising the steps of: receiving, by a money transfer convenience device, a remittance request from a remitter to a target payee; the remittance request includes the target One of the payee unique identifiers; the unique identifier of the target payee is associated with a target destination address; after receiving the remittance request, an electronic notification of one of the remittance reference numbers (RRNs) is to be sent To the target destination address; after receiving the RRN, the RRN and a transaction information are sent from the target payee to the money transfer convenience device for a first verification; and after the first verification is completed Sending a notification of the first verification from the money transfer convenience device and A one-time password (OTP) is generated by the money transfer facilitator to the target destination address for a second verification. The method of claim 17, wherein the unique identifier of the target payee comprises at least one of: an action identifier, an email address, a social network user account identifier, a message A platform identifier or a user identifier for any web-based platform. The method of claim 18, further comprising the step of linking the unique identifier to a source of funding for the one of the target payees. The method of any one of clauses 17 to 19, wherein the electronic notification comprises a personal message from the remitter. The method of claim 17, wherein the network operator is configured to host an electronic money transferor account associated with the sender, the electronic money transferor account configured to communicate with the money transfer facility data. The method of claim 17, wherein the network operator is configured to host an electronic money transferor account associated with the approved money transfer center on behalf of the one of the senders, the electronic money transferor account being configured with the money transfer facility information Communication. The method of claim 21 or 22, wherein upon receiving the remittance request, the method further comprises the step of debiting the remittance amount and a service fee from the electronic remitter account. The method of any one of claims 21 to 23, further comprising the step of linking the electronic money transferor account to an action identifier of the approved money transfer center. The method of any one of clauses 21 to 23, further comprising the The child remitter account is linked to this step of a remitter unique identifier other than an action identifier. The method of any one of clauses 17 to 25, wherein the network operator is configured to maintain a temporary phase account of the remittance amount prior to the first verification and the second verification. The method of any one of clauses 17 to 26, wherein the network operator is configured to host an electronic target payee account, the electronic target payee account being associated with a source of funding of the target payee Union. The method of any one of clauses 17 to 27, wherein the money transfer facilitator communicates with a source of service funds for one of a credit service and/or a processing fee. The method of any one of clauses 17 to 28, wherein the transaction information comprises at least one of: the name and address of the remitter, the name and address of the target payee, and the country of origin of the remittance , the destination country of the remittance. The method of any one of clauses 17 to 29, wherein the RRN is verified based on at least one of the following criteria: an expiration date, one of the remittance identifiers, one of the target payee identifiers, any of the above One of the mixes. The method of any one of claims 17 to 30, further comprising the step of generating the RRN by the money transfer facilitator. The method of any one of claims 21 to 25, further comprising the step of generating the RRN by the electronic money transfer account. A non-transitory computer readable medium storing a program, wherein the program, when executed, causes a computer to perform a method of facilitating remittance, the method package The method includes the following steps: waiting for receiving a remittance request from a remitter to a target payee; the remittance request includes a unique identifier of the target payee; the unique identifier of the target payee and a target purpose The status address is associated; after receiving the remittance request, an electronic notification including a remittance reference number (RRN) is sent to the target destination address; after receiving the RRN, receiving the target from the target payee to The RRN of the money transfer convenience device and a transaction information; verifying the RRN and the transaction information; transmitting a notification of the verification; and generating a one-time password (OTP) to the target destination address. The non-transitory computer readable medium of claim 33, wherein the method further comprises the step of generating the RRN prior to transmitting the RRN to the target destination address.