US 2014/0207668 A1 · Temporary Virtual Payment Systems and Methods

Abstract

Systems and methods which allow funds from one or more money transfer transactions to be delivered to a receiving party in a virtual form are provided. In some embodiments, a receiving party may receive a virtual credit card account for the money transfer amount, which can then be used to provide payment to an entity that accepts credit card transactions. In other embodiments, funds may be sent to a virtual account, such as a virtual wallet, which may be utilized to provide payments to third parties. In the event that a portion or all of the transferred funds are not utilized, embodiments may also provide for refunding the funds to the sending party.

Claims20

Dependent claims

A method for facilitating a money transfer, said method comprising:

receiving transaction information from a sending party at a processing device of a money transfer service;
establishing, by said processing device, a virtual payment account which includes money transfer funds provided by the sending party, said virtual payment account comprising a credit card account established after said receiving transaction information;
and
providing a receiving party with access to the virtual payment account, said virtual payment account configured for the receiving party to utilize money transfer funds in the virtual payment account.

1 more element

Dependencies are inferred from the claim text.

Temporary Virtual Payment Systems and Methods

Life of this patent

Temporary Virtual Payment Systems and Methods

Life of this patent

Abstract

Claims20