WO2016061266A1

WO2016061266A1 - Conditional delivery system

Info

Publication number: WO2016061266A1
Application number: PCT/US2015/055586
Authority: WO
Inventors: Yoav ILAN; Peter M. KASH
Original assignee: Timeflash Llc
Priority date: 2014-10-14
Filing date: 2015-10-14
Publication date: 2016-04-21

Abstract

Exemplary embodiments of methods and systems that can provide for a transfer of funds or other items of value from one party, e.g., a benefactor, to another party, e.g., a beneficiary, where the delivery can be contingent on one or more conditions, such as certain conditions set by the benefactor. In some exemplary embodiments, the methods and systems can include receiving a request from a benefactor to transfer funds from the benefactor's account to a beneficiary of said funds, receiving a condition from the benefactor needing to be satisfied for transfer of the funds to beneficiary, and transferring the funds to the beneficiary after verification of the condition being satisfied. The condition can be based on one or more logical terms. The system may comprise a fund transfer service and a conditional messaging service.

Description

CONDITIONAL DELIVERY SYSTEM

CROSS-REFERENCE TO RELATED APPLICATIONS

[0001] This application relates to and claims priority from United States Provisional Patent Application Serial No. 62/063,818 filed October 14, 2014, the entire disclosure of which is hereby incorporated herein by reference.

FIELD OF THE DISCLOSURE

[0002] The present disclosure relates to exemplary embodiments of a conditional delivery system, and more particularly, to exemplary embodiments of a conditional delivery system for delivery of funds or other items of value.

BACKGROUND INFORMATION

[0003] People may wish to provide funds or other items of value to others, but may prefer that such funds or items be conditioned or triggered by an event that would trigger the receipt of the funds or items. Therefore, there is a need of a method and system of a service allowing for funds or other items to reach another person based on a pre-condition or event.

SUMMARY OF EXEMPLARY EMBODIMENTS OF THE DISCLOSURE

[0004] At least some of the above described problems can be addressed by exemplary embodiments of the methods and systems according to the present disclosure. Exemplary embodiments of a conditional delivery system can be provided for delivery of funds or other items of value.

[0005] In some exemplary embodiments, a method for providing funds can be provided, comprising receiving a request from a benefactor to transfer funds from the benefactor's account to a beneficiary of said funds, receiving a condition from the benefactor needing to be satisfied for transfer of the funds to beneficiary, and transferring the funds to the beneficiary after verification of the condition being satisfied.

[0006] The method can further comprise verifying the condition that needs to be satisfied digitally. The condition can be based on one or more logical terms. The logical terms can comprise one or more of an event, a date, a time, a location, a completed goal and a message. The method can further comprise generating a transaction code upon receiving the request from the benefactor. The method can further comprise providing the transaction code to the beneficiary upon verification of the condition being satisfied. The method can further comprise transferring the funds to the beneficiary upon receiving the transaction code from the beneficiary.

[0007J In some exemplary embodiments, a computer-accessible medium can be provided which contains thereon software for providing multimedia, wherein, when a processing arrangement executes the software, the processing arrangement is configured to perform procedures comprising receiving a request from a benefactor to transfer funds from the benefactor's account to a beneficiary of said funds, receiving a condition from the benefactor needing to be satisfied for transfer of the funds to beneficiary, and transferring the funds to the beneficiary after verification of the condition being satisfied.

[0008] The processing arrangement can be further configured to perform procedures comprising verifying the condition that needs to be satisfied digitally. The processing arrangement can be further configured to perform procedures comprising generating a transaction code upon receiving the request from the benefactor. The processing arrangement can be further configured to perform procedures comprising providing the transaction code to the beneficiary upon verification of the condition being satisfied. The processing arrangement can be further configured to perform procedures comprising transferring the funds to the beneficiary upon receiving the transaction code from the beneficiary.

[0009] In some exemplary embodiments, an integrated system for providing funds can be provided, comprising a fund transfer service configured to receive information including beneficiary identification, one or more logical terms and a fund amount from a benefactor, and generate a transaction code, and a conditional messaging service configured to receive the transaction code from the fund transfer service,- encrypt the transaction code, and send the beneficiary the encrypted transaction code and the one or more logical terms.

[0010] The conditional messaging service can be further configured to provide the beneficiary the non-encrypted transaction code upon verification of the one or more logical terms being satisfied. The fund transfer service can be further configured to receive the non- encrypted transaction code from the beneficiary, verify the non-encrypted transaction code matches the beneficiary, and deliver the fund amount to the beneficiary.

BRIEF DESCRIPTION OF THE DRAWINGS

[0011] The foregoing and other objects of the present disclosure will be apparent upon consideration of the following detailed description, taken in conjunction with the accompanying drawings and claims, in which like reference characters refer to like parts throughout, and in which:

[0012] Figure 1 is an illustration of a fund transfer service according to an exemplary embodiment of the present disclosure; and

[0013]_, Figure 2 is an illustration of an integrated system using a fund transfer service and a conditional messaging service according to an exemplary embodiment of the present disclosure. [0014] Throughout the figures, the same reference numerals and characters, unless otherwise stated, are used to denote like features, elements, components or portions of the illustrated embodiments. Moreover, while the subject disclosure will now be described in detail with reference to the figures, it is done so in connection with the illustrative embodiments. It is intended that changes and modifications can be made to the described embodiments without departing from the true scope and spirit of the subject disclosure.

DETAILED DESCRIPTION OF EXEMPLARY EMBODIMENTS OF DISCLOSURE

[0015] The present disclosure describes exemplary embodiments of a system that can provide for a transfer of funds or other items of value from one party, e.g., a benefactor, to another party, e.g., a beneficiary, where the delivery can be contingent on one or more conditions, such as certain conditions set by the benefactor. In some exemplary embodiments, until the conditions are met the beneficiary may know about the impending funds, in order to build up anticipation and have the opportunity to take actions in order to meet the terms. The beneficiary may be one or more parties (e.g., two or more beneficiaries), or the beneficiary may be one or the other party (e.g., competing parties for the same funds). The system may comprise a fund transfer service and a conditional messaging service.

[0016] Exemplary embodiments of the eyeglasses of the present disclosure will now be described with reference to the figures. The following description of the various embodiments is merely exemplary in nature and is in no way intended to limit the scope of the disclosure, its application, or uses.

[0017] Figure 1 is an illustration of a fund transfer service according to an exemplary embodiment of the present disclosure. The fund transfer service 100 can allow a safe transfer of funds between entities by, e.g., exchanging transaction codes that can unlock payments. The fund transfer service 100 can be a financial institution that allows customers to, e.g., open accounts, deposit funds, link external financial institution accounts such as credit/debit cards and checking accounts, as well as allow balance transfers to and from the external accounts. The balance transfers can be done by, e.g., using the Automated Clearing House service.

[0018] The benefactor 110 can transfers funds from a linked external account(s) 1 12 to their fund transfer service account 114. The benefactor 110 can provide to the fund transfer service 100 an identification of a beneficiary 120, such as a name, email address, phone number and/or any other digital identifier, and an amount to be transferred to the beneficiary 120. The fund transfer service 100 can generate a transaction code 130 and send it to the benefactor 1 10, and the benefactor 1 10 can send the transaction code to the beneficiary 120. In some exemplary embodiments, the fund transfer service 100 can send the transaction code 130 to the beneficiary 120. In some exemplary embodiments, the benefactor 110 can be anonymous. The beneficiary 120 can connect or log in to the fund transfer service 100 and submit the transaction code 130. The fund transfer service 100 can check the transaction code and match the beneficiary 120. The fund transfer service 100 can credit the beneficiary account 124 and debit the benefactor account 114 accordingly. The beneficiary 120 can redeem the funds by transferring them to his external account(s) 122. In some exemplary embodiments, the beneficiary can be more than one person or a group of people, or an organ ization/entity .

10019] In some exemplary embodiments of the present disclosure, conditional external accounts can be provided such that the benefactor 1 10 can limit the balance transfer (e.g., per certain transaction) to a specific external account(s) the beneficiary 120 can use. For example, the beneficiary 120 can be restricted such that they will only be able to redeem the funds at a certain store or website, such as a hotel chain, restaurant chain or supermarket chain, or for a specific purpose, such as tuition payments or loan payments, as opposed to, e.g., transferring it to their checking or savings account.

[0020] In some exemplary embodiments of the present disclosure, in addition to or instead of funds, other items of value can be transferred, such as but not limited to gift cards to a brick and mortar or online venue, tickets (e.g., airline or show tickets) or coupons.

[0021] In some exemplary embodiments of the present disclosure, a conditional messaging service can be provided that can, e.g., allow users to message each other conditionally, where the delivery of the message can be contingent on logical terms that can be verified digitally. Examples for logical terms can be: 1) a certain time/date in the future, where the verification can be by an electronic timer; 2) being present at a certain location, where the verification can be done by a geo-location service; 3) a clean pool, where the verification can be done by a digital test kit; 4) a low alcohol level in one's blood, where the verification can be done by a digital breathalyzer; 5) a school test grade, where the verification can be done by posting or accessing grades on the school web portal; 6) a car speed below the legal limit, where the verification can be done by monitoring the motion of the driver's Global Position System ("GPS") (the vehicle's or the cell phone's); 7) a parolee satisfying statutory or parole officer set condition(s); 8) satisfying conditions to receive payments for welfare; 9) a particular event, such as a celebration (e.g., a birthday or graduation); 10) death of a person or the beneficiary, allowing the beneficiary to make a gift to a person or group of people upon their death or another person's death; or 11) a message, such as an electronic message (text, email, etc.) that can satisfy a condition set by the conditional messaging service (e.g., an email from a child that is in college or a foreign country and needs money).

[00221 Various logical terms can be provided and the exemplary embodiments of the present disclosure are not limited to any particular logical term or example. A logical term can also be a composite of several logical terms. For example, a logical term could be delivering several passengers safely to their homes (verified by, e.g., their cellphone GPS) before 1 lam (verified by global clock), while the car was not speeding over 55 mph (verified by the driver's cellphone GPS) and the diver being sober (verified by digital breathalyzer). Various logical term(s) and combinations are possible using the conditional messaging service according to the exemplary embodiments of the present disclosure.

[0023] Figure 2 is an illustration of an integrated system using a fund transfer service and a conditional messaging service according to an exemplary embodiment of the present disclosure. In the integrated system 200, by integrating the conditional messaging service 140 into the fund transfer service 100, the benefactor 110 can transfer funds or other items of value to the beneficiary 120 contingent on any digital verifiable conditions.

[0024] The benefactor 110 can transfer funds from one or more linked external account(s) 112 to their fund transfer service account 114. The benefactor 110 can provide to the fund transfer service 100 an identification of the beneficiary, such as a name, email address, phone number and/or any other digital identifier, a logical term and an amount to be transferred. The benefactor 110 can also provide whether or not the amount should be disclosed to the beneficiary before the logical term(s) are met, as well as the logical term(s) for the beneficiary 120 to receive the funds. The fund transfer service 100 can generate a transaction code for the beneficiary and send it to the conditional messaging service 140. This system is equally applicable to a transfer of other items of value.

[0025] The conditional messaging service 140 can encrypt the transaction code 130, and can send the beneficiary 120 the encrypted transaction code 150, along with the logical term(s). If necessary, the beneficiary 120 can take the needed action(s) to meet the specific term(s) set by the benefactor 1 10. Once the logical term(s) are met, the conditional messaging service 140 can deliver the beneficiary the transaction code 13 (non-encrypted). The beneficiary can log in to the fund transfer service 100 and submit the non-encrypted transaction code 130. The fund transfer service 100 can check if the non-encrypted transaction code 130 matches the beneficiary 120. The fund transfer service 100 can credit the beneficiary account 124 and debit the benefactor account 1 14 accordingly. The beneficiary 120 can redeem the funds by transferring them to its external account(s).

[0026] The integrated system of the exemplary embodiments of the present disclosure can be used in various different examples and combinations. For example, a mother who wishes to send her son money to buy sneakers that will be available after a semester ends and based on his grades (e.g., over a 3.0 GPA), can use the integrated system 200 according to the exemplary embodiments of the present disclosure. The mother can use the fund transfer service 100 to transfer,- e.g., $250 that can be redeemed only at a certain shoe store chain, and can submit the conditions (time frame and the grades requirement), and a message. The fund transfer service 100 can generate a transaction code 130 in, e.g., a format of a QR code. The conditional messaging service 140 can generate an encrypted code 150 and provide it to the son, who will received a message that he will receive funds at a certain date for sneakers if his GPA is over a 3.0. This can motivate the son to satisfy these conditions. If the son satisfies these conditions and they can be verified (e.g., by the school posting the grades on a school web portal, or the mother verifying to the fund transfer service 100 that the grades have been achieved), the conditional messaging service 140 can deliver the non-encrypted transaction code 130 to the son. The son can log in to the fund transfer service 100 and submit the transaction code 130. The fund transfer service can provide the message and QR barcode, allowing the son to use the QR code for redemption of $250 at the particular shoe store chain.

[0027] Various other considerations can also be addressed in the exemplary applications described according to the exemplary embodiments of the present disclosure. Different logical term(s) and combinations of logical term(s) can be provided in the integrated systems using the fund transfer service and the conditional message service.

[0028] The exemplary embodiments of the integrated system of the present disclosure can be used in various configurations and in different systems. Various computing arrangements can be provided, having a processor(s) configured or programmed to perform the exemplary steps and/or procedures of the exemplary embodiments of the present disclosure described above. Various data described above can be stored in various storage arrangements (e.g., hard drive, memory device, such as RAM, ROM, memory stick, floppy drive, other tangible computer-accessible medium, etc.). The processor(s) can access the storage arrangement(s) to execute a computer program or a set of instructions (stored on or in the storage arrangement) which can perform the procedures according to the exemplary embodiments of the methods and systems of the present disclosure.

[0029] The foregoing merely illustrates the principles of the disclosure. Various modifications and alterations to the described embodiments will be apparent to those skilled in the art in view of the teachings herein. It will thus be appreciated that those skilled in the art will be able to devise numerous systems, arrangements, manufacture and methods which, although not explicitly shown or described herein, embody the principles of the disclosure and are thus within the spirit and scope of the disclosure. The disclosures of all documents and publications cited herein are hereby incorporated herein by reference in their entireties.

Claims

WHAT IS CLAIMED IS:

1. A method for providing funds, comprising:

receiving a request from a benefactor to transfer funds from the benefactor's account to a beneficiary of said funds;

receiving a condition from the benefactor needing to be satisfied for transfer of the funds to beneficiary; and

transferring the funds to the beneficiary after verification of Ihe condition being satisfied.

2. The method according to claim 1, further comprising:

verifying the condition that needs to be satisfied digitally.

3. The method according to claim 1, wherein the condition is based on one or more logical terms.

4. The method according to claim 3, wherein the logical terms comprise one or more of an event, a date, a time, a location, a completed goal and a message.

5. The method of claim 1 , further comprising:

generating a transaction code upon receiving the request from the benefactor.

6. The method of claim 5, further comprising:

providing the transaction code to the beneficiary upon verification of the condition being satisfied.

7. The method of claim 6, further comprising:

transferring the funds to the beneficiary upon receiving the transaction code from the beneficiary.

8. A computer-accessible medium which contains thereon software for providing multimedia, wherein, when a processing arrangement executes the software, the processing arrangement is configured to perform procedures comprising:

transferring the funds to the beneficiary after verification of the condition being satisfied.

9. The computer-accessible medium according to claim 8, wherein the processing arrangement is further configured to perform procedures comprising:

verifying the condition that needs to be satisfied digitally.

10. The computer-accessible medium according to claim 8, wherein the processing arrangement is further configured to perform procedures comprising:

generating a transaction code upon receiving the request from the benefactor.

1 1. The computer-accessible medium according to claim 10, wherein the processing arrangement is further configured to perform procedures comprising:

12. The computer-accessible medium according to claim 1 1 , wherein the processing arrangement is further configured to perform procedures comprising:

13. An integrated system for providing funds, comprising:

a fund transfer service configured to:

(i) receive information including beneficiary identification, one or more logical terms and a fund amount from a benefactor; and

(ii) generate a transaction code; and

a conditional messaging service configured to:

(i) receive the transaction code from the fund transfer service;

(ii) encrypt the transaction code; and

(iii) send the beneficiary the encrypted transaction code and the one or more logical terms.

14. The system according to claim 13, wherein the conditional messaging service is further configured to:

provide the beneficiary the non-encrypted transaction code upon verification of the one or more logical terms being satisfied.

15. The system according to claim 14, wherein the fund transfer service is further configured to: receive the non-encrypted transaction code from the beneficiary; verify the non-encrypted transaction code matches the beneficiary; and deliver the fund amount to the beneficiary.