US 9,436,955 B2Granted

Methods for transferring funds using a payment service where financial account information is only entered once with a payment service and need not be re-entered for future transfers

AssigneeSquare, Inc.

InventorsJack Dorsey, William Henderson, Brian Grassadonia, Jim McKelvey

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Abstract

A method of transferring funds to and/or from a first party's financial account is provided. A first party's financial account information is entered with a single initial entry to the payment service. Funds are transferred to and/or from the first party's financial account using the payment service. The first party is registered with the payment service, or becomes registered prior to transferring funds to and/or from the financial account using the payment service. For future uses of the first party's financial account to transfer funds to and/or from the first party's financial account, the first party's financial account information need not be entered again with the payment service.

Claims20

Dependent claims

A method of transferring funds to and/or from a first party's financial account, comprising:

receiving, by a payment system, a request from a first electronic device to register a first party to the payment system, the payment system including a transaction database and a user database, wherein the user database includes identifying information of first parties associated with the payment system and identifying information of second parties associated with the payment system;
receiving, by the payment system and from the first electronic device, the first party's financial account information to the payment system that includes an application server and a secure server coupled to the first party's financial account;
detecting, by the first electronic device operatively communicating with a geo-location system, a location of the first electronic device;
receiving, by the payment system and from the first electronic device, an electronic tab between the first electronic device and a second electronic device of a second party, wherein the electronic tab allows the first electronic device and the second electronic device to conduct a financial transaction through the payment system, wherein the second party is located within a selected geographic location, the selected geographic location being defined by a geo-location boundary surrounding the second party, and wherein the electronic tab is opened by the first party on the first electronic device when the location of the first electronic device is detected outside of the selected geographic location;
receiving, by the payment system and from the second electronic device, a selection of the electronic tab by the second party to be processed by the payment system when the location of the first electronic device is detected outside of the selected geographic location;
detecting, by the first electronic device operatively communicating with the geo-location system, the first electronic device within the selected geographic location of the second electronic device;
processing, by the payment system, the financial transaction between the first electronic device and the second electronic device, wherein the first electronic device transfers funds from the first party's financial account, through the payment system, to the second electronic device using the secure server of the payment system when the first party electronic device is within the selected geographic location of the second party electronic device;
and
updating, by the payment system, the transaction database with transaction information of the transfer of funds from the first party's financial account, by the first electronic device, to the second party electronic device.

6 more elements

A method of transferring funds from a first party's financial account, comprising:

receiving, by a payment system, a request from a first electronic device to register a first party to the payment system, the payment system including a transaction database and a user database, wherein the user database includes identifying information of first parties associated with the payment system and identifying information of second parties associated with the payment system;
receiving, by the payment system and from the first electronic device, the first party's financial account information;
detecting, by the first electronic device operatively communicating with a geo-location system, a location of the first electronic device;
receiving, by the payment system and from the first electronic device, an electronic tab between the first electronic device and a second electronic device of a second party, wherein the electronic tab allows the first electronic device and the second electronic device to conduct a financial transaction through the payment system, wherein the second party is located within a selected geographic location, the selected geographic location being defined by a geo-location boundary surrounding the second party, and wherein the electronic tab is opened by the first party on the first electronic device when the location of the first electronic device is detected outside of the selected geographic location;
receiving by the payment system and from the second electronic device, a selection of the electronic tab by the second party to be processed by the payment system when the first electronic device is outside of the selected geographic location;
detecting, by the first electronic device operatively communicating with the geo-location system, the first electronic device within the selected geographic location of the second electronic device;
processing, by the payment system, the financial transaction between the first electronic device and the second electronic device, wherein the first electronic device transfers funds from the first party's financial account, through the payment system, to the second electronic device when the first electronic device is within the selected geographic location of the second electronic device;
and
updating, by the payment system, the transaction database with transaction information of the transfer of funds from the first party's financial account, by the first electronic device, to the second electronic device.

6 more elements

A method of transferring funds to and/or from a first party's financial account, comprising:

receiving, by a payment system, a request from a first electronic device to register a first party to the payment system, the payment system including a transaction database and a user database, wherein the user database includes identifying information of first parties associated with the payment system and identifying information of second parties associated with the payment system;
receiving, by the payment system and from the first electronic device, the first party's financial account information;
detecting, by the first electronic device operatively communicating with a geo-location system, a location of the first electronic device;
receiving, by the payment system and from the first electronic device, an electronic tab between the first electronic device and a second electronic device of a second party, wherein the electronic tab allows the first electronic device and the second electronic device to conduct a financial transaction through the payment system, wherein the second party is located within a selected geographic location, the selected geographic location being defined by a geo-location boundary surrounding the second party, and wherein the electronic tab is opened by the first party on the first electronic device when the location of the first electronic device is detected outside of the selected geographic location;
receiving by the payment system and from the second electronic device, a selection of the electronic tab by the second party to be processed by the payment system when the location of the first electronic device is detected outside of the selected geographic location;
detecting, by the first electronic device operatively communicating with the geo-location system, the first electronic device within the selected geographic location of the second electronic device;
processing, by the payment system, the financial transaction between the first electronic device and the second electronic device, wherein the first electronic device transfers funds from the first party's financial account;
and
updating, by the payment system, the transaction database with transaction information of the transfer of funds from the first party's financial account by the first electronic device to the second electronic device.

6 more elements

A method of transferring funds from a first party's financial account, comprising:

receiving, by a payment system, a request from a first electronic device to register a first party to the payment system, the payment system including a transaction database and a user database, wherein the user database includes identifying information of first parties associated with the payment system and identifying information of second parties associated with the payment system;
receiving, by the payment system and from the first electronic device, the first party's financial account information;
detecting, by the first electronic device operatively communicating with a geo-location system, a location of the first electronic device;
receiving, by the payment system and from the first electronic device, an electronic tab between the first electronic device and a second electronic device of a second party, wherein the electronic tab allows the first electronic device and the second electronic device to conduct a financial transaction through the payment system, wherein the second party is located within a selected geographic location, the selected geographic location being defined by a geo-location boundary surrounding the second party, and wherein the electronic tab is opened by the first party on the first electronic device when the location of the first electronic device is detected outside of the selected geographic location;
receiving by the payment system and from the second electronic device, a selection of the electronic tab by the second party to be processed by the payment system when the location of the first electronic device is detected outside of the selected geographic location;
detecting, by the first electronic device operatively communicating with the geo-location system, the first electronic device within the selected geographic location of the second electronic device;
processing, by the payment system, the financial transaction between the first electronic device and the second electronic device, wherein the first electronic device transfers funds from the first party's financial account, through the payment system, to the second electronic device when the first electronic device is within the selected geographic location of the second electronic device;
and
updating, by the payment system, the transaction database with transaction information of the transfer of funds from the first party's financial account to the second party.

6 more elements

A method of transferring funds to and/or from a first party's financial transaction card, comprising:

receiving, by a payment system, a request from a first electronic device to register a first party to the payment system, the payment system including a transaction database and a user database, wherein the user database includes identifying information of first parties associated with the payment system and identifying information of second parties associated with the payment system;
receiving, by the payment system and from the first electronic device, the first party's financial transaction card information;
detecting, by the first electronic device operatively communicating with a geo-location system, a location of the first electronic device;
receiving, by a payment system and from the first electronic device, an electronic tab between the first electronic device and a second electronic device, wherein the electronic tab allows the first electronic device and the second electronic device to conduct a financial transaction through the payment system, wherein the second party is located within a selected geographic location, the selected geographic location being defined by a geo-location boundary surrounding the second party, and wherein the electronic tab is opened by the first party on the first electronic device when the location of the first electronic device is detected outside of the selected geographic location;
receiving by the payment system and from the second electronic device, a selection of the electronic tab by the second party to be processed by the payment system when the location of the first electronic device is detected outside of the selected geographic location;
detecting, by the first electronic device operatively communicating with the geo-location system, the first electronic device within the selected geographic location of the second electronic device;
processing, by the payment system, the financial transaction between the first electronic device and the second electronic device, wherein the first electronic device transfers funds from the first party's financial account, through the payment system, to the second electronic device when the first electronic device is within the selected geographic location of the second electronic device;
and
updating, by the payment system, the transaction database with transaction information of the transfer of funds from the first party's financial account, by the first electronic device, to the second electronic device.

6 more elements

Dependencies are inferred from the claim text.

Facts

Application: 13/088,032Filed 15 Apr 2011 · continuation in part
Priority: 13 Oct 2010
Published: US 2012/0091200 A119 Apr 2012
Granted: 6 Sep 2016
Term ends: Not estimatedThe source records don’t support an estimate.

Classification9 codes

G06Q 30/06
Commerce: buying, selling or leasing transactions
G06Q 20/10
Payment architectures: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
G06Q 20/322
Using wireless devices: aspects of commerce using mobile devices [M-devices]
G06Q 20/347
Using cards, e.g. integrated circuit [IC] cards or magnetic cards: passive cards

Family

Application12/903,753Parent of this continuation-in-part · filed 13 Oct 2010
Application12/903,823Parent of this continuation-in-part · filed 13 Oct 2010
Application12/985,982Parent of this continuation-in-part · filed 6 Jan 2011
Application13/005,822Parent of this continuation-in-part · filed 13 Jan 2011
Application13/010,976Parent of this continuation-in-part · filed 21 Jan 2011
Application13/012,495Parent of this continuation-in-part · filed 24 Jan 2011
Application13/043,203Parent of this continuation-in-part · filed 8 Mar 2011
Application13/043,258Parent of this continuation-in-part · filed 8 Mar 2011
Application13/043,263Parent of this continuation-in-part · filed 8 Mar 2011
Application13/043,268Parent of this continuation-in-part · filed 8 Mar 2011
Application13/043,270Parent of this continuation-in-part · filed 8 Mar 2011
US 2012/0095906 A1Pre-grant publication · published 19 Apr 2012
US 8,534,546 B2Parent of this continuation-in-part
US 8,573,486 B2Parent of this continuation-in-part
US 8,870,070 B2Parent of this continuation-in-part
US 9,016,572 B2Parent of this continuation-in-part
US 8,500,018 B2Parent of this continuation-in-part
US 8,573,487 B2Parent of this continuation-in-part
US 8,870,071 B2Parent of this continuation-in-part
US 8,876,003 B2Parent of this continuation-in-part
US 8,302,860 B2Parent of this continuation-in-part
US 8,235,287 B2Parent of this continuation-in-part
US 2011/0084131 A1Published application
US 2011/0084139 A1Published application
US 2012/0091200 A1Published application
US 2012/0091201 A1Published application
US 2012/0095857 A1Published application
US 2012/0095867 A1Published application
US 2012/0095868 A1Published application
US 2012/0095869 A1Published application
US 2012/0095870 A1Published application
US 2012/0095914 A1Published application
US 2012/0095915 A1Published application
US 9,436,955 B2This patent

From the US filing history. Foreign family members aren’t listed.

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