Variable deposits maximums for a digital cash deposit digitization service
AssigneeCapital One Services, LLC
InventorsJeremy Phillips, Kevin Park, Thomas Dodson
Life of this patent
Estimating the term…
Abstract
A system and method are disclosed in which cash deposits may be made at merchant locations who support such deposits. Using a mobile phone or other hand-held device, a bank customer requests a cash deposit from a banking app, receives a barcode on the mobile device, the barcode containing embedded information indicating the cash deposit amount, and presents the barcode to the merchant, along with the cash to be deposited. Once the transaction with the merchant is complete, the account of the bank customer's account is credited with the cash amount. The bank uses behavioral and historical data of the bank customer to customize a cash deposit limit for the customer.
Claims20
A mobile device, comprising:
- a processor;
- and
- memory coupled to the processor, the memory comprising instructions that, when executed by the processor, cause the processor to:
- receive by an application executable on the processor, a username and a password via a user input, wherein the application is executing on the mobile device;
- authenticate the username and the password;
- receive, via the application, an amount of a cash deposit;
- analyze behavioral and historical data to determine a cash limit;
- and
- in response to the amount not exceeding the cash limit, generate and cause a barcode to be displayed on a display device in graphical user interface of the application, wherein the amount is embedded in the barcode and the barcode is scannable by a Point-of-Sale (POS) device.
At least one non-transitory machine-readable storage medium comprising instructions that, when executed by a processor, cause the processor to:
- cause execution of an application based on a prompt received via user input, the application to be presented to a display of a mobile device, wherein the application is associated with a bank and the application is communicatively coupled with one or more remote bank servers;
- receive a username and password via the user input, wherein the username and password are sent wirelessly to the one or more remote bank servers, username and password to be authenticated by software to be executed on the one or more remote bank servers;
- receive, via the user input, a cash deposit request and a cash deposit amount;
- present a cash deposit limit to the display, wherein the cash deposit limit is to be received to the application from the one or more remote bank servers based on behavioral and historical information known to the bank;
- and
- present a barcode to the display of the mobile device, the barcode comprising embedded cash deposit amount information, wherein:
- the barcode is to be scanned by a point-of-sale (POS) device at a retail establishment;
- the embedded cash deposit amount information is interpreted by the POS device of the retail establishment;
- and
- the cash deposit amount is received into a cash validator of the retail establishment.
An apparatus, comprising:
- a processor;
- and
- memory coupled to the processor, the memory comprising instructions that when executed by the processor cause the processor to:
- receive a request to make a cash deposit of a specified amount, wherein the request is received wirelessly from a mobile device of a bank customer;
- obtain behavioral and historical data of the bank customer to determine a cash deposit limit, the behavioral and historical data of the bank customer comprising one or more of:
- a location of the bank customer when the cash deposit request is received;
- a location history of the bank customer;
- available funds in an account of the bank customer;
- a deposit history of the bank customer;
- and
- a bank customer bill due within a predetermined time period;
- execute a machine learning algorithm, based on the behavioral and historical data, to determine a cash deposit limit for the bank customer;
- provide the cash deposit limit to the mobile device of the bank customer, wherein the cash deposit limit is sent wirelessly to a display of the mobile device;
- and
- in response to the specified amount not exceeding the cash deposit limit, generate and cause a barcode to be presented to the mobile device, wherein the specified amount is embedded in the barcode and the barcode is scannable by a Point-of-Sale (POS) device of a merchant location.
Dependencies are inferred from the claim text.