# US 9,436,955 B2 · 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 > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 9,436,955 B2 - Document ID: US9436955B2 - Status: Granted - Kind: B2 - Application number: 13/088,032 - Filed: 2011-04-15 - Published: 2012-04-19 - Granted: 2016-09-06 - Earliest claimed: 2010-10-13 - Assignees: Square, Inc. - Applicants: Jack Dorsey; William Henderson; Brian Grassadonia; Jim McKelvey - Inventors: Jack Dorsey; William Henderson; Brian Grassadonia; Jim McKelvey - Web page: https://patentgrep.com/patent/US9436955B2 ## CPC - G06Q 30/06: Buying, selling or leasing transactions - G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems - G06Q 20/322: {Aspects of commerce using mobile devices [M-devices]} - G06Q 20/347: {Passive cards} - G06Q 20/363: {with the personal data of a user} - G06Q 40/02: Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03) - G07F 7/0886: {the card reader being portable for interacting with a POS or ECR in realizing a payment transaction} - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR - G07F: COIN-FREED OR LIKE APPARATUS (coin sorting G07D3/00; coin testing G07D5/00; {handling coins or paper currencies apart from payment activated apparatus G07D; payment architectures, schemes or protocols G06Q20/00}) ## 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. ## Claims ### Claim 1 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. ### Claim 2 (depends on 1) The method of claim 1, wherein the first party's financial account is selected from at least one of, a bank account, credit card, debit card, pre-paid card and a third party funding source. ### Claim 3 (depends on 1) The method of claim 1, wherein the financial transaction card is selected from at least one of, credit financial transaction card, debit financial transaction card, gift financial transaction card, and a fund transfer financial transaction card. ### Claim 4 (depends on 1) The method of claim 1 wherein the second party is able to view a list of a plurality of first parties that have an association with the payment system, the list of first parties that have an association with the payment system including the first party, and the second party is only able to charge to the first electronic tab when the first electronic device is within the selected geographic location. ### Claim 5 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. ### Claim 6 (depends on 5) The method of claim 5, wherein the second party is registered with the payment system or becomes registered with the payment system prior to the transfer of funds from the first party. ### Claim 7 (depends on 5) The method of claim 5, wherein the second party is not registered with the payment system. ### Claim 8 (depends on 5) The method of claim 5, wherein the first party's financial account is selected from at least one of, a bank account, credit card, debit card, pre-paid card and a third party funding source. ### Claim 9 (depends on 5) The method of claim 5, wherein transfer is initiated online with a designation that the transfer is then completed with the first electronic device. ### Claim 10 (depends on 5) The method of claim 5, wherein entering of the first party's financial account information is achieved by a device that can enter the first party's financial account information. ### Claim 11 (depends on 5) The method of claim 5, wherein the financial account selected by the first party to have the association with the payment system is achieved by at least one of, use of a mobile device, from a bank terminal and an on-line entity. ### Claim 12 (depends on 5) The method of claim 5, wherein the first party's financial account is a financial transaction card, and the entering of the first party's financial card information is with a mobile device, wherein the entering is done by at least one of, swiping the financial transaction card through a slot of a card reader coupled to the mobile device, through a slot of the mobile device, touch of the financial transaction card to the mobile device, by typing in information at the mobile device, photos, selecting a card from an application on a mobile device and from an on-line entity. ### Claim 13 (depends on 12) The method of claim 12, wherein the mobile device is a portable electronic device that includes at least one of, software, firmware, hardware, or a combination thereof, that is capable of at least receiving a signal, decoding the signal if required, exchange information with a third party financial institution or payment network to verify a buyer and/or seller's account information and conduct the transaction. ### Claim 14 (depends on 12) The method of claim 12, wherein the first electronic device is a mobile digital device. ### Claim 15 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. ### Claim 16 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. ### Claim 17 (depends on 16) The method of claim 16, wherein the second party is registered with the payment system or becomes registered with the payment system prior to the transfer of funds from the first party. ### Claim 18 (depends on 16) The method of claim 16, wherein the second party is not registered with the payment system. ### Claim 19 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. ### Claim 20 (depends on 19) The method of claim 19, wherein the first party's financial transaction card information is entered with the first electronic device.