Location-based money transfer

A method for transferring funds comprising:

• receiving at a money transfer system that transmits and receives data over a network a money transfer request for sending money from a proposed sender to a receiver that includes a proposed sender's contact information and a money transfer amount;
• tracking the location of the proposed sender's mobile device location;
• sending from the money transfer system a notification of the money transfer request to the proposed sender's mobile device, wherein the notification of the money transfer request comprises at least the money transfer amount;
• in the event that the proposed sender's location is proximate to a certain location, sending a notification to the proposed sender's mobile device regarding the certain location where the sender can initiate the money transfer;
• and
• receiving from the money transfer system an authorization notification from the proposed sender to proceed with the money transfer.

A funds transfer system, comprising:

• a location tracking service provider being configured to track a proposed sender's location;
• a money transfer processor that transmits and receives data over a network, the money transfer processor being communicatively coupled with the location tracking service, and wherein the money transfer processor is configured to:
• receive a money transfer request from a receiver for sending money from the proposed sender to the receiver that includes information sufficient to contact the sender and a money transfer amount;
• communicate information sufficient to contact the proposed sender to the location tracking service provider;
• send a notification of the money transfer request to the proposed sender's mobile device, wherein the notification of the money transfer request comprises at least the money transfer amount;
• and
• in the event that the location tracking service provider determines that the proposed sender's location is proximate to a certain location, send a notification to the proposed sender's mobile device regarding the certain location where the sender can initiate the money transfer;
• and
• receive an authorization notification from the proposed sender to proceed with the money transfer.

A money transfer processor comprising:

• a computer system that transmits and receives data over a network, wherein the money transfer processor is configured to:
• receive a money transfer request from a receiver for sending money from a proposed sender to the receiver that includes information sufficient to contact the proposed sender and a money transfer amount;
• determine the location of the proposed sender's mobile device using information sufficient to contact the proposed sender;
• send a notification of the money transfer request to the proposed sender's mobile device, wherein the notification of the money transfer request comprises at least the money transfer amount;
• and
• in the event that the location tracking service provider determines that the proposed sender's location is proximate to a certain location, send a notification to the proposed sender regarding the certain location where the sender can initiate the money transfer;
• and
• receive an authorization notification from the proposed sender to proceed with the money transfer.