(19) United States
(12) Patent Application Publication (io) Pub. No.: US 2006/0006224 Al
Modi (43) Pub. Date: Jan. 12,2006
(75) Inventor: Vikram Modi, Brookvale Park (SG)
BEYER WEAVER & THOMAS LLP
P.O. BOX 70250
OAKLAND, CA 94612-0250 (US)
(73) Assignee: Visa International Service Association, a Delaware Corporation, Foster City, CA
(21) Appl. No.: 10/926,652
(22) Filed: Aug. 26, 2004
Related U.S. Application Data
(60) Provisional application No. 60/585,670, filed on Jul. 6, 2004.
(51) Int. CI.
G06Q 40/00 (2006.01)
(52) U.S. CI 235/379; 705/44
A bank (or merchant) hosts and operates an online money transler service (or "portal"). A sender logs into the portal and enters payment card and money transfer details and then submits the transaction. An authentication window appears displaying the sender's transaction details and the sender is prompted to enter his or her password. Upon successful authentication, the bank seeks authorization from the card issuer. Upon successful authorization, the bank credits the recipient's local bank account or existing payment card. The recipient can also receive a check, a draft, a prepaid card or cash. The money transfer service is used both cross-border and domestic to effect person-to-person money transfer. The money transfer service uses the "Verified by Visa" authentication service and VisaNet for authorization. Messages over VisaNet are used to deliver funds to a recipient.