WO2004034222A3 - Method and system for managing financial transactions - Google Patents

Method and system for managing financial transactions Download PDF

Info

Publication number
WO2004034222A3
WO2004034222A3 PCT/US2003/032124 US0332124W WO2004034222A3 WO 2004034222 A3 WO2004034222 A3 WO 2004034222A3 US 0332124 W US0332124 W US 0332124W WO 2004034222 A3 WO2004034222 A3 WO 2004034222A3
Authority
WO
WIPO (PCT)
Prior art keywords
information
bank account
entity
funds
settlement
Prior art date
Application number
PCT/US2003/032124
Other languages
French (fr)
Other versions
WO2004034222A2 (en
WO2004034222A9 (en
Inventor
Wendy Yusin
Original Assignee
First Data Corp
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by First Data Corp filed Critical First Data Corp
Priority to AU2003282567A priority Critical patent/AU2003282567A1/en
Priority to CA002501646A priority patent/CA2501646A1/en
Priority to EP03774754A priority patent/EP1559044A4/en
Publication of WO2004034222A2 publication Critical patent/WO2004034222A2/en
Publication of WO2004034222A3 publication Critical patent/WO2004034222A3/en
Publication of WO2004034222A9 publication Critical patent/WO2004034222A9/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • 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
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • 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
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • 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
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G06Q20/023—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] the neutral party being a clearing house
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • 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
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • 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
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance

Abstract

A method of processing a cash transfer by or on behalf of a first entity to a bank account of a second entity comprises receiving information related to the cash transfer and formatting the information into one of a plurality of formats based, at least in part, on a location of the bank account. The information may be formatted into a NACHA format, if the bank account is in the United States, or a UN/EDIFACT format, if the bank account is not in the U.S. Information related to the country where the bank account is located may be added to the formatted information, to facilitate and enable clearance and settlement of funds in that country. A clearing network may be selected for the clearance and settlement of he funds. Information about the second entity may be previously received and stored in memory, for comparison to currently received information about the second entity in a current transaction, to detect fraud. Systems are disclosed, as well.
PCT/US2003/032124 2002-10-07 2003-10-07 Method and system for managing financial transactions WO2004034222A2 (en)

Priority Applications (3)

Application Number Priority Date Filing Date Title
AU2003282567A AU2003282567A1 (en) 2002-10-07 2003-10-07 Method and system for managing financial transactions
CA002501646A CA2501646A1 (en) 2002-10-07 2003-10-07 Method and system for managing financial transactions
EP03774754A EP1559044A4 (en) 2002-10-07 2003-10-07 Method and system for managing finacial transactions

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US41666302P 2002-10-07 2002-10-07
US60/416,663 2002-10-07

Publications (3)

Publication Number Publication Date
WO2004034222A2 WO2004034222A2 (en) 2004-04-22
WO2004034222A3 true WO2004034222A3 (en) 2004-06-03
WO2004034222A9 WO2004034222A9 (en) 2004-07-08

Family

ID=32093882

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2003/032124 WO2004034222A2 (en) 2002-10-07 2003-10-07 Method and system for managing financial transactions

Country Status (4)

Country Link
EP (1) EP1559044A4 (en)
AU (1) AU2003282567A1 (en)
CA (1) CA2501646A1 (en)
WO (1) WO2004034222A2 (en)

Families Citing this family (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US8239319B2 (en) 2004-03-22 2012-08-07 The Western Union Company Equipment to facilitate money transfers into bank accounts
US8930267B1 (en) 2012-08-27 2015-01-06 Jpmorgan Chase Bank, N.A. Automated transactions clearing system and method

Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20030024979A1 (en) * 1999-10-26 2003-02-06 First Data Corporation Money transfer systems and methods for travelers
US20030126075A1 (en) * 2001-11-15 2003-07-03 First Data Corporation Online funds transfer method
US20030130940A1 (en) * 1999-10-26 2003-07-10 First Data Corporation Value transfer systems and methods
US20030208445A1 (en) * 1999-12-29 2003-11-06 Craig Compiano Method and apparatus for mapping sources and uses of consumer funds
US20030233318A1 (en) * 2001-11-26 2003-12-18 King Douglas W. Systems and methods for fund transfers
US20040015438A1 (en) * 1999-12-29 2004-01-22 First Data Corporation Methods and apparatus for mapping sources and uses of consumer funds

Patent Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20030024979A1 (en) * 1999-10-26 2003-02-06 First Data Corporation Money transfer systems and methods for travelers
US20030130940A1 (en) * 1999-10-26 2003-07-10 First Data Corporation Value transfer systems and methods
US20030208445A1 (en) * 1999-12-29 2003-11-06 Craig Compiano Method and apparatus for mapping sources and uses of consumer funds
US20040015438A1 (en) * 1999-12-29 2004-01-22 First Data Corporation Methods and apparatus for mapping sources and uses of consumer funds
US20030126075A1 (en) * 2001-11-15 2003-07-03 First Data Corporation Online funds transfer method
US20030233318A1 (en) * 2001-11-26 2003-12-18 King Douglas W. Systems and methods for fund transfers

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
See also references of EP1559044A4 *

Also Published As

Publication number Publication date
WO2004034222A2 (en) 2004-04-22
AU2003282567A8 (en) 2004-05-04
EP1559044A4 (en) 2007-11-07
AU2003282567A1 (en) 2004-05-04
CA2501646A1 (en) 2004-04-22
EP1559044A2 (en) 2005-08-03
WO2004034222A9 (en) 2004-07-08

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