Note: Descriptions are shown in the official language in which they were submitted.
CA 02638850 2008-08-18
. ` ,
Atty Dkt.:
PC-1053
INTEGRATED TECHNOLOGY MONEY TRANSFER SYSTEM
This invention relates to money transfers, and in particular to a method and
system for quickly and easily sending cash from one party via electronic
mediums such as
touch-tone phones and computer modems using one of a credit card, debit card,
ATM(automated teller machine) card, andlor a bank card and/or bank checking
account
andlor bank savings account, to a remotely located party who can access any
ATM(automated teller machine) by using a magnetic card such as a specialized
magnetic
strip card(referred to herein as a Cash Magic(CM) card, a credit card, debit
card, ATM
card, and the like.
BACKGROUND AND PRIOR ART
There are existing services available to initiate remote cash disbursements.
For
example, Western Union and Money Gram currently service more than 90% of the
market for sending remote cash disbursements from one party to another. In
1997 alone,
there were an estimated 48 million money transfers from Westem Union, and
approximately 9 million money transfers from MoneyGram, with the total amount
of
funds transferred being over $17 billion dollars, and the average transfer
amount being
approximately $300.00 with each transfer having an average transfer fee of
approximately $29.00. In addition to the high transfer fee costs, there are
other problems
with these known services. For example, both Western Union and Money Gram
offer
limited hours of availability and a limited number of cash disbursement
locations for the
recipient. In 1997 there were approximately 40,000 Western Union locations
worldwide
and approximately 69,000 planned MoneyGram locations. Thus, if a location is
not near
a sender and a recipient, delays and inconvenience are common results of using
these
services. These services further require having paid persons at the cash
location pickup
sites, that add additional expenses to their use.
1
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
Over the years, various types of patents have been proposed for using debit
type
cards for money transfers. See for example, U.S. Patents: 4,837,422 to
Dethloff et al.;
5,350,906 to Brody et al.; 5,884,290 to Smorodinsky et al.; 5,953,710 to
Fleming;
5,991,748 to Taskett; 6,032,136 to Brake, Jr. et al.; 6,044,360 to Picciallo;
and 6,061,664
to Pieterse et al.
Dethloff `422 discloses a multi-user card where one party can assign cash
values
to the cards for being used by third parties having access to PIN type
numbers, and is
primarily limited to being an IC(integrated circuit) card and not to a card
that uses a
magnetic type stripe. Additionally, this patent requires that users possess
related cards in
advance of needing a money transfer
Brody `290 describes using a magnetic type card where a sponsor can allow a
remote user a selected PIN number and use of a money transfer by card/account
of an
issuer. Brody `290 generally requires " sponsors", which are generally retail
type outlets
to sell pre-programmed cards or to place amounts on the magnetic cards by
store clerks.
Additionally, this system would require ATM(automated teller machines) having
programs to transfer money from the issuer account to a sub-account and to an
ATM in
the same "sponsor" chain having that program.
Smorodinsky et al. '290 describes a money transfer system for paying bills
using
intercoupled computers, that requires pre-arranged accounts billing payment
authorization between three computers.
Fleming '710 describes a system in which a credit or debit card issuer can
issue a
parent held card and one or more pre-linked child held cards, where the parent
can control
the available funds accessible by the child held cards. This system requires
that the cards
be linked by a pre-arrangement relationship to each other.
Taskett `748 describes a combined prepaid telephone type card and "transaction
instrunnent" (credit or debit card) for allowing fund transfers from the
"transaction card"
2
CA 02638850 2008-08-18
. . , ~ ,
Atty Dkt.:
PC-1053
to the prepaid telephone type card, and requires a pre-existing type
connection andlor pre-
existing link between the credit/debit card and the prepaid telephone type
card.
Brake, Jr. et al. '136 describes a prepaid telephone card or gasoline type
card
which can have a secondary use as a credit card, but is not used as a money
transfer card.
Picciallo `360 describes a magnetic card system where the cards can be given
to
third parties and charged remotely but require "pre-established customer
accounts", for
the transfers, and further requires the recipient to have a card pre-
correlated to a
secondary(or sub-account) of the pre-established fund holding account.
Pieterse et al. `664 describes a rechargeable type smart card system primarily
for
electronic orders and payments and can use magnetic type cards, but not for
money
transfer type services.
Thus, the need exists for an improved system for transferring money to remote
locations.
SUMMARY OF THE INVENTION
A primary objective of this invention is to provide a method and system for
sending money transfers such as cash between a sender and a remotely located
recipient
without a pre-established relationship, such as an account link, between the
parties.
A secondary objective of this invention is to provide a method and system for
sending money transfers such as cash between a sender and a remotely located
recipient
automatically in other than the currency of origin, at the current foreign
rate of exchange
at the time of the payout.
A third objective of this invention is to provide a method and system for
sending
money transfers such as cash between a sender and a remotely located
recipient, that has
the safety and security of a bank escrow account acting as an agent between
the parties.
A fourth objective of this invention is to provide a method and system for
sending
money transfers such as cash between a sender and a remotely located recipient
where a
3
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
deposit is made to a safe escrow account under an escrow contractual agreement
which
allows for payout upon proper transmission of the account number by the
recipient.
A fifth objective of this invention is to provide a method and system for
sending
money transfers such as cash between a sender and any remotely located
recipient,
anywhere, and anytime.
A sixth objective of this invention is to provide a method and system for
sending
money transfers such as cash between a sender and a remotely located recipient
having
lower costs than traditional services such as Western Union, MoneyGram, and
the like.
A seventh objective of this invention is to provide a method and system for
sending unplanned money transfers such as emergency cash from anyone, anytime,
anywhere to another party without any pre-arrangement existing between the
sender and
the recipient, the sender and the escrow agent middlemen, and the recipient
and escrow
agent middlemen.
An eighth objective of this invention is to provide a method and system for
sending money transfers such as cash from one party to another where a cash
management escrow agent enables the transfer to be automatically and
simultaneously
transferred for payment through an ATM (automated teller machine).
A ninth objective of this invention is to provide a method and system for
sending
money transfers such as cash between a sender and a remotely located recipient
having
access to a magnetic cash card, such as a debit card, a credit card, and/or an
ATM(automated teller machine) card.
The tenth objective of this invention is to provide a method and system for
sending money transfers such as cash from a sender to a remotely located
recipient, with
the sender only needing access to a debit card, credit card, bank card, and/or
ATM(automated teller machine) card, and/or bank checking and/or bank savings
account
for the transfer.
4
CA 02638850 2008-08-18
. , ,
Atty Dkt.:
PC-1053
The eleventh objective of this invention is provide a method and system for
sending money transfers such as cash from a sender to a remotely located
recipient that
uses a magnetic card, and without requiring the use of " smart card"
integrated circuit(IC)
card technology.
The twelvth objective of the invention is to provide a method and system for
using double magnetic sided cards to retrieve cash from senders with one
stripe and to
use the other striped side for other transactions such as for a phone card,
credit card, debit
card, and the like.
A preferred example of using the invention system allows for a sender to use a
touch-tone telephone, a P.O.S.(point of sale) terminal, a computer modem and
the like, to
authorize a central escrow agent such as a national bank to apply funds from
the sender's
account such as their credit card, bank card, debit card, ATM(automated teller
machine)
card, bank checking account, bank savings account and the like, to a recipient
at a remote
location. The recipient can visit any ATM site and use a magnetic card such as
a
specialized magnetic card, their credit card, bank card, ATM card, or debit
card to
immediately and automatically retrieve the money transferred funds.
Sender of Money Transfer Using System can authorize the transfer as follows.:
1. Sender uses a touch-tone telephone to call a toll-free CM(cash magic)
number.
2. Call Center computer answers the call with several `preliminary" prompts:
English/Spanish, fee structure- if desired, terms of transa.ctions, etc.
3. If you have a Credit Card, Debit Card or ATM Card with a PIN number and are
ready to transfer the cash - Press 1.
4. Please enter the amount you want made available from an ATM in multiples
of(for
example) $20.00 (e.g., $300) then press the pound (#) sign.
5. Computer program computes charge.
6. The total amount which will be charged to your card will be (for example,
$320).
Press 1 to continue.
7. Please enter your Credit Card, Debit Card or ATM Card number.
8. Please enter your PIN number.
9. Please enter the CM card number to be used for withdrawal or Press the
pound (#)
sign if you want to trausfer to any CM card with a PIN number to be assigned.
10. If card number entered:
The computer processes the transfer from the caller's Credit Card, Debit Card
or
ATM Card and "deposits" the face amount plus the reserve for a possible ATM
surcharge and the network processing fees to an "Escrow Account" with, for
5
CA 02638850 2008-08-18
= . , = ,
Atty Dkt..
PC-1053
example, a 9-digit account number composed of the last 5-digits of the card
number
plus the 4-digit PIN number. The balance goes to the general income account.
11. If the pound sign (#) is pressed:
The computer assigns a random account number described as a PIN number,
advises
the caller of the number and asks the caller to enter the number to confirm
the
recorded number then the pound (#) sign to complete the transaction. The
computer
processes the transfer from the caller's Credit Card, Debit Card or ATM Card
and
"deposits" the face amount plus the reserve for a possible ATM surcharge and
network processing fees to an "Escrow Account" with the PIN number to complete
the account number and the balance to the general income account.
Recipient Using The Invention System to Withdraw Money
1. Recipient inserts CM(cash magic) card, follows withdrawal prompts and
enters for
example, the PIN number.
2. CM computer program authorizes ATM pay-out, which virtually simultaneously
occurs, ATM surcharge payment, if any, and payment of network processing fees.
3. Computer then transfers the excess reserve to the invention's "Excess
Transfer
Reserve Income Account "
Other miscellaneous information such as instructions to use the system, lost
card and
refund information, and the like can also be accessed by the users to this
system.
For each user of a Cash Magic(CM) magnetic card.
A. For example, 4-digit PIN number can be permanently assigned each CM card,
thereby becoming, when prefaced with the last, for example, 5 numbers
individually assigned to each card, a, for example, 9-digit account number
accessible by that card and the, for example, 4-digit PIN number. A second
account can be accessible with any card and an account number referred to, and
utilized at an ATM, as a PIN number.
B. The entry of a wrong PIN number at an ATM, or in a call center balance
inquiry,
will prompt a request that the correct PIN number be entered. If approximately
two or more entries are not correct the transaction will be terminated and the
card
suspended for 1 hour to prevent fraudulent searching. Additional use(s) of the
card with an incorrect PIN number can result in revocation of that card.
C. After, for example, approximately 48 hours, the intended recipient, with
the CM
card and the PIN number or the sender with the sender card number, can by
phone or mail request CM to close the account and to send a check for a
complete
refund of the full amount paid by the sender, or such amount as may remain in
the
account due to only partial pay-out because of an ATM limitation, or because
the
international exchange rate caused payment only to the nearest foreign money
multiple.
D. Any `Transfer Money' left in the "Escrow Account" at the expiration of, for
example, 5 years can be donated to a charity such as the American Cancer
Society, and the like.
6
.,. ._
CA 02638850 2008-08-18
= . ,
Atty Dkt.:
PC-1053
E. Cash can also be received from cooperative stores or banks which could
"swipe'
the card and put through a charge for the amount available to the recipient
plus a
fee reserved for the highest potential ATM surcharge or a portion of the same,
thereby earning a fee for handling the transaction and paying out the cash.
The
customers can enter their own PIN number on the keypad as they presently do
when utilizing any Debit Card's PIN number to make a purchase. Supermarkets
and other businesses presently offer additional cash withdrawal which is added
to
the amount charged to the card. Signs offering to pay-out CM transfers are
anticipated to be well received by businesses since it will result in
additional
income and additional potential customers with cash in hand inside their
establishment.
The recipient can use a magnetic card entitled a Cash Magic(CM) card or a
similar or different entitled card to use the invention. Additionally,the
recipient of the
money transfer can use a debit card, credit card, bank card, and ATM(automated
teller
machine ) card to access the money transfer funds.
A tethered magnetic card can be fixably tethered at remotely located
ATM(automatic teller machines) so that money transfer recipients do not need
to carry a
magnetic card with them.
Additionally, the card can have magnetic stripes on both sides for allowing
for
various uses of the card as needed. For example, one card can be used as a
cash magic
card, and the oposite side of the card can be used as a phone card, and the
like.
Further objects and advantages of this invention will be apparent from the
following detailed description of a presently preferred embodiment which is
illustrated
schematically in the accompanying drawings.
BRIEF DESCRIPTION OF THE FIGURES
Fig. 1 shows an overview of a preferred embodiment of the novel invention.
Fig. 2A shows an example of a Sender Process flow chart for the invention.
Fig. 2B shows an example of a Recipient Process flow chart for the invention.
Fig. 3 shows a detailed call flow chart of the invention.
Fig. 4A shows the pConfirm Transfer flow chart portion of the invention.
Fig. 4B shows the pinfoMain flow chart portion of the invention.
7
CA 02638850 2008-08-18
, . ,
Atty Dkt.:
PC-1053
Fig. 4C shows the pQuestions flow chart portion of the invention.
Fig. 4D shows the pNotProcessed flow chart portion of the invention.
Fig. 5 shows a modified magnetic card that can be used with the subject
invention.
Fig. 6 shows another modified magnetic card that can be used with the subject
invention.
Fig. 7A shows a front side of a novel double magnetic striped card for use
with the
invention.
Fig. 7B shows a back side of the double magnetic striped card of Fig. 7A.
DESCRIPTION OF THE PREFERRED EMBODIIVIENT
Before explaining the disclosed embodiment of the present invention in detail
it is
to be understood that the invention is not limited in its application to the
details of the
particular arrangement shown since the invention is capable of other
embodiments. Also,
the terminology used herein is for the purpose of description and not of
limitation.
As stated in the background of the invention in 1997, there were at that time
approximately 40,000 Western Union locations worldwide and approximately
69,000
planned MoneyGram locations. These known types of money transfer services
would
thus be limited to recipients having to locate these locations and also plan
their time to be
at the normal operating hours of those locations. The subject invention can
use any
ATM(automated teller machine) in the world. In 1997 alone there were more than
200,000ATMs in the United States alone, more than double the number of Western
Unions and MoneyGram locations at that time. Worldwide in 1997, there were
more than
500,000 ATMs, which were approximately five times the number of Western Unions
and
MoneyGram locations. Additionally, the ATMs are generally accessible 24 hours
a day,
7 days a week, and 365 days a year. The invention plans to have lower charges
than the
traditional Westerii Union and MoneyGram transaction fees.
The invention can be used with an existing bank for the deposit and withdrawal
of
transferred monies. The invention can even be implemented into an existing
banks' use
8
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
of ATMs by the leasing of their excess " white space" computer capacity. ATM
usage
and associated fees can be paid to the ATM owner and to network transfer and
settlement
service providers. The Credit Card, Debit Card or ATM Card issuer can enjoy
the
benefits of increased card usage. Fees for using the system can be covered by
the bank
and credit card issuers mailing of monthly statements.
Fig. 1 shows an overview of a preferred embodiment 1000 of the novel
invention.
Referring to Fig. 1, a sender 1010 can enter SI, account information from a
sender
account using account information from a variety of accounts such as that
found on a card
1020 such as a credit card, bank card, automated teller machine(ATM) card,
debit card,
bank checking account, bank savings account, and the like. The sender 1010
authorizes a
money transfer, such as a cash transfer, emergency funds transfer, and the
like, to be
taken from the sender's account, and can use a secure PIN(personal
identification
number). The account information, and amount of money transfer can be entered
S2 via
an electronic input device 1030 such as using a touch-tone telephone, a
computer modem,
an automated teller machine(ATM), and the like, which passes the information
through
transmission lines S3 such as telephone lines, wireless transmissions, and the
like to a
escrow agent storage site 1100 such as a national bank, repository agent, and
the like.
The electronic escrow agent 1100 takes the money transfer funds, and subtracts
out a
transfer fee, and forwards the money transfer via S4 to the recipients
remotely located
electronic retrieval site 1200 such as an automated teller machine(ATM), where
the
recipient R, 1230 can retrieve the money transfer via a magnetic card
1210(such as a
specialized Cash Magic(CM) card, credit card, debit card, bank card, or ATM
card) by
entering the magnetic card information(i.e. account number, andlor
PIN(personal
identification number) and the like) R1 to the electronic retrieval site 1200.
Finally, the
money transfer in the form of cash, or the like, can be retrieved, R2, by the
recipient R,
1230.
9 -
CA 02638850 2008-08-18
=, ' .
Atty Dkt.:
PC- 1053
The invention allows for the virtually simultaneous transfer of funds to the
escrow
agent with enough fees to allow for all processing fees to be deducted. The
invention
does not require special hardware since existing ATM terminals can easily be
used with
the invention.
The invention can allow a recipient to use magnetic cards such as a
specialized
Cash Magic card(which can initially be empty), credit cards, debit cards, bank
cards,
ATM cards, and does not require "smart card" integrated circuit (IC)
technology, and
thus eliminates the higher costs associated with using " smart cards", and the
limited
access to "smart card" devices.
Fig. 2A shows an example of a Sender Process flow chart 1 for the invention. A
sender 5 having monies who wishes to transfer the monies to a recipient party
can use a
contact medium 10, such as a touch tone telephone (for example using a toll
free 800
number and the like) connecting to an IVR(Interactive Voice Response) system,
and/or to
a live operator, and/or an employer/employee card swipe, and/or with a home,
office or
personal computer to contact a Call Center 15. The latter routes the sender's
call to a
computer 20 which receives multiple simultaneous calls and data, and processes
the same
in automated modes with software. Next, the system can use further adapters 25
such as
computer programs to convert the incomming data to the "Language" of the
existing
Banks, Processors and Clearinghouses. Next, the Banks, Processors, and
Clearinghouses
check 30 for Approval Processing and Transfers on monies from the Sender.
Next,
General Ledger Accounting System Data 35 is compiled to enable a Demand Split
Deposit 40 which takes monies from the Sender for processing the Initial Fee
transaction
to an income account 45, and sends the authorized monies transfer to a
Recipient
Retrieval Escrow Account 50, for later pickup by the Recipient.
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
Fig. 2B shows an example of a Recipient Process flow chart 60 for the
invention(s). A recipient can use their " CM" (cash magic) Magnetic Stripe
Card, "CM"
Integrated Chip Card 65 to access a money machine 70 such as an ATM(automated
teller
machine), Bank Card Swipe Machine, or I.C.(integrated circuit) Terminal which
passes
information on the card to a Processing Network 75 to seek approval to use the
card.
Upon approval, the system processing networks 85 convey approval and transfer
authorization to the money transfer machine 90 such as the ATM, Bank, POS Card
Swipe
or I.C. Terminal and cash 95 is disbursed to the Recipient.
The invention can be used with other channels of communication such as but not
limited to the Internet via a Web front-end module, Wireless, Fax, and E-Mail.
Other
languages may also be added easily, as well as increased functionality.
With the subject invention a central bank can process the money transfer
transactions which can include monetary transfers, financial security,
logging, and
history. Exchange rate information can also reside with the central bank.
Computers in the invention can store application specific data and application
statistics, which can run on the IVR (Integrated Voice Response) computers.
Customer-
specific data can also reside on these computers.
The physical locations of the call centers and the IVR type computers used in
Figures 2A-2B can be at the same or different locations. The bank computer can
be at the
same or different locations than the call centers and the IVR computers.
Fig. 3 shows a detailed call flow chart of the invention for a progression of
one
successful money transfer transaction. Fig. 4A shows the pConfirm Transfer
flow chart
portion of the invention. Fig. 4B shows the pinfoMain flow chart of the
invention. Fig.
4C shows the pQuestions flow chart portion of the invention. Fig. 4D shows the
pNotProcessed flow chart portion of the invention.
11
CA 02638850 2008-08-18
., = .
Atty Dkt..
PC-1053
Referring to Figures 3 and 4A-4D, a progression of one successful money
transfer
through this invention begins at box 10 and concludes at box 200. At box 10,
the caller
using a touch-tone telephone dials a toll free number and gets routed from the
call center
to the invention system. At 20, initial call statistics (location of caller,
identity of caller,
and the like) are written to a Database Server. At 30, the caller hears a
greeting from the
invention system. At 40, the caller is prompted to enter a number
corresponding to which
language they would like to hear the prompts in. This value is used to set
language
parameters in the application. Currently for example, I can be setup for
English and 2
can be setup for Spanish. At 50, the caller is played the needed
requirements(do they
have a credit card, debit card, ATM(automated teller machine) card with
PIN(personal
identification number), Cash Magic card(debit type card for use with this
invention). At
60, the caller is asked if they would like to transfer cash or get information
on the system.
At 70, to transfer cash, a I can be pressed, and 400 to get information, or 2
can be
pressed.
At 70, the caller is prompted to enter their magnetic card number(credit card,
debit card, bank card, ATM card, Cash Magic card). If the caller presses the *
key
because they do not know this number they go to 220. Once at 220, the caller
can be told
that they will need this number to transfer funds through the invention
system. They are
then given the option of hearing information on how to obtain a Cash Magic
card, go to
420, or listen to general information on the invention's automated system, go
to 400.
At 80, the caller is read back the magnetic card number entered and asked to
Press
1 to confirm, or 2 to re-enter it. At 90, the magnetic card number entered is
verified in
the database as a valid number on the system. If it is valid, the caller can
continue. If the
number is invalid, they go to 230, which will tell the caller that they need
to have a valid
magnetic card number to use the system. The invention will then allow the
caller to enter
a different number by pressing I or give the caller information on the Cash
Magic system
by pressing 2, go to 410.
12
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
At 100, the caller is next prompted to enter a credit card, ATM, or debit card
number to transfer the money from. At 11.0, the caller is next prompted to
enter the
PIN(personal identification number) associated with the credit card, ATM,
debit card,
bank checking account, bank savings account that the money is being
transferred from. If
the * key is pressed, the caller does not know the PIN and goes to 240. This
prompt will
tell the caller that they need to know the PIN to use the invention system.
The caller will
be offered a choice of getting information on the invention's automated system
by
pressing 1, go to 400, or exiting the system by pressing 2, go to 340, if they
do not know
this PIN, or to go to a live operator for assistance in making the transfer
with other
information.
At 120, the caller is prompted to enter the amount of the transfer in $20
increments(while $20 is referred here, other increment value amounts less than
or greater
than $20 can be used).
At 130, the amount entered is verified to be in $20 increments and that it
does not
exceed the maximum single transfer limit of the invention system. If the
amount is in
$20 increments and is below the maximum single transfer limit, the caller goes
to 140. If
the entered amount is greater than the maximum single transfer amount, the
amount is set
to that limit and the caller is prompted in 250 to press 1 if this amount is
acceptable or
press 2 to enter a new amount. If the amount entered is not in $20 increments,
the
amount is set to the next higher $20 increment below the maximum single
transfer limit
and the caller is prompted at 260 to enter 1 if this amount is acceptable or 2
to enter a new
amount.
Referring to Figures 3 and 4A, at 140, the caller is read back the transfer
information and asked to confirm the transfer by pressing 1. If the caller
declines the
confirmation, by pressing 2, all data is cleared and the caller is returned to
60.
13
CA 02638850 2008-08-18
. ' i
Atty Dkt.:
PC-1053
At 150, this transaction is processed by the Bank (3 Fig. 2). The data entered
is
checked for fraud, adequate account balance, PIN security, and system
availability. This
data is passed to the IVR computer.
At 160, the data passed by the Bank is written to a computer for tracking by
the
invention system.
At 170, depending on the data retumed by the Bank, the application can take
various paths. If all checks are passed, the application goes to 180. Checks
are
performed to verify that several conditions do not exist. For example, if an
invalid PIN
was used, go to 270. If proper credit is unavailable for this transaction, go
to 280. If the
card has been marked as fraudulent, go to 290. And if the Bank verification is
unavailable, go to 300.
At 180, the caller is told that the transfer was successful and is prompted to
enter
another transfer by pressing 1, go to 70. Or indicate that they are done, by
pressing 2, go
to 190.
Box 190 refers to the system thanking the caller for using the invention
system.
At 200, the application hangs up and resets the channel for the next call.
At 270, the data returned by the Bank indicates that the PIN number used is
invalid. The caller can enter the PIN again by pressing 1, go to 110; or the
caller can
press 2 to get information on the invention system, go to 400.
At 280, the data returned by the Bank indicates that the amount entered by the
caller is not available for this transaction. The caller is prompted to enter
a lower transfer
amount, by pressing 1(310), go to 120; use a different card to transfer the
money from,
by pressing 2 (320), go to 100; or get information on the invention system by
pressing 3
(330), go to 400.
At 290, the data returned by the Bank indicates that the data entered by the
caller
is fraudulent. In this case, the system immediately plays the caller a goodbye
message at
14
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
340 and hangs up at 200. It is possible to also restrict the magnetic card use
if this is
encountered.
At 300, in this scenario, the Bank is unavailable for transaction processing.
The
caller is played a technical difficulty message and then a hang up occurs at
200.
Referring to Figures 3 and 4B, when information is requested about the
invention
system, the processing begins at 400.
Referring to Figures 3 and 4B, at 400, the caller enters the information
branch and
is prompted to enter I to hear general information about the system, go to
410; enter 2 to
hear information of how to obtain a Cash Magic magnetic card, go to 420; enter
3 to hear
the fee structure for a money transfer to a magnetic card(Cash Magic card,
debit card,
credit card, bank card, ATM card), go to 430; enter 4 to hear International
Exchange
Rates, go to 440; enter 5 to hear information on how to contact the system, go
to 450;
Cash Magic; or enter 6 if you have questions about a Cash Magic transfer, go
to 460.
At 410, the caller hears general information about the invention system and
goes
to 60. At 420, the caller hears information on how to obtain Cash Magic
magnetic card
and goes to 60. At 430, the caller is prompted to enter a transfer amount and
is spoken
the fee associated with this transfer amount. After this is completed, the
caller is asked to
enter 1 if they would like to process this transfer amount and goes to 70 to
enter their
Cash Magic card number. If 2 is pressed, the caller is sent to 60. At 440, the
caller hears
International Exchange rates and goes to 60. At 450, the caller hears contact
information
for system and goes to 60.
Referring to Figures 1 and 4C, at 460, the caller can receive information to
their
questions. The caller is prompted to enter I if their Cash Magic card has been
lost or
stolen, go to 470; enter 2 if the Cash Magic card does not function, go to
530; enter 3 if
you have forgotten your Cash Magic PIN, go to 540; or enter 4 to transfer to a
live
operator, go to 550.
CA 02638850 2008-08-18
. . + .
Atty Dkt.:
PC-1053
At 470 the system prompts the caller to enter their Cash Magic card number
that
was lost, stolen, or inoperable.
At 480, once the caller's Cash Magic card number is entered, their transaction
history is queried via the Database Computer. The results of this query
determine where
the caller goes next in the application. If caller has a transaction that has
not been
processed, they go to 600; if the caller has a transaction that has already
been processed
they go to 500; if the caller has more than one pending transaction, they go
to 510; and if
the caller has no pending transactions they go to 520.
At 500, the caller is told that the transaction has already been processed and
is
sent to 60. At 530, the caller is spoken information regarding the bad card
and is offered
a choice of pressing l,to go to the Lost/Stolen logic at 470 or press 2 to go
to 60.
At 540, the caller is told that they need to have the Cash Magic card PIN to
process a transaction on this card. The caller can the press 1 to transfer the
amount to a
different Cash Magic card, at 620; or press 2 to get information on how to
obtain a new
Cash Magic card, go to 420.
At 550, the caller is told to standby while they are transferred to an
operator. At
560, the call is transferred to an operator. If the transfer is successful, go
to hang up at
580. If the transfer is unsuccessful, a prompt is spoken at 570 to tell the
caller that the
transfer was not able to take place and the hang up occurs at 580.
At 570, the invention system plays an unsuccessful transfer message and hangs
up
at 580 which hangs up the line and frees the channel for the next caller.
Referring to Fig. 3 and 4D, at this point 600, data from the Bank indicates
that the
caller's transaction has not yet been processed. The caller is prompted to
transfer this
amount to a new Cash Magic card by pressing 1, go to 610; or press 2 to cancel
this
transaction, go to 670.
At 620, the caller is prompted to enter the new Cash Magic account number,
which is receiving the funds. At 630, the new Cash Magic number is verified as
16
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
operationat in the Database. If the number entered is valid, go to 640, if the
number
entered is invalid, go to 230. At 640, this transaction modification is sent
to the Bank for
processing. If successful, go to 650; if unsuccessful, go to 660. At 650, the
caller is told
that the modification is complete and sent to 180. At 660, the caller is told
that the
modification did not take place and is sent to 410. At 680, the cancel
transaction is sent
to the Bank for processing. And if successful, go to 690; if unsuccessful, go
to 700. At
690, this prompt tells the caller that their transaction has been successfully
cancelled and
sends them to 340.
At 700, this prompt tells the caller the cancellation was unsuccessful. The
caller
is then prompted to enter I to try again, go to 630; or enter 2 for more
information, go to
410(Fig. 4B).
Fig. 5 shows a modified magnetic tethered card 2000 that can be used with the
subject invention. Magnetic card 2000 can include a rectangular card portion
2100 with
magnetic strip portion 2150, and extending from one corner of the card 2100 a
longitudinal thin rectangular strip portion 2200 having an aperture 2250 at
the end with a
flexible tether line 2300 for attaching the modified card 2000 to an
ATM(automated teller
machine) 2400.
This extended-card 2000 can be attached or tethered to an ATM 2400 for use by
a
recipient that is not in personal possession of any magnetic card that can use
an ATM
machine. The extended-card 2000 can be constructed so as to have the standard
and
usual magnetic stripe ATM card dimensions 2100 and magnetic stripe 2150 as the
first
portion of the card. The extended-card 2000 can be inserted into an ATM
terminal device
opening or "swiped" through an ATM "card swipe" if the ATM was constructed
with a
"card swipe" rather than a card insertion opening. The magnetic stripe
information from
the tethered card 2000 can be assimilated and communicated through the
presently
17
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
existing and potentially future existing magnetic stripe processing devices
and networks
in the same manner otherwise described in this invention.
Refemng to Fig. 5, extended-card 2000 can have an extension 2200 in the rear
portion which will, when the extended-card is used, extend beyond a presently
existing or
fiiture existing ATM magnetic card insertion opening or "card swipe" device.
The
extended-card can have a hole 2250 or other suitable means to have a tether
2300 that can
include but not be limited to a chain, cord or other suitable tether attached
to the extended
portion of the extended-card 2000.
The other end 2350 of the tether 2300 can be fixably attached to the
ATM(automated teller machine) 2400 in a manner similar in principle to that
presently
utilized in retail stores to allow an item for sale to be displayed in a
manner that permits
mobility of the item for examination, while fixably securing the item to a
display counter.
The tether 2300 can be attached to a fixture device 2350 or other medium which
can be
glued or otherwise attached to the ATM 2400 or to a location suitably close to
the ATM
2400 and within reach of the card tether 2300. The ATM 2400 can be an ATM such
as
for example, those manufactured by INTERBOLD "P' Series, and several year old
or
older NCR model ATMs, in which a traditional rectangular magnetic card is
completely
inserted inside an access opening 2450 such as a slot or a slot with a door
which closes
after a rectangular card is inserted inside. With the novel card 2100, the
extended portion
2200 remains outside the slot 2450, or in the case of a sliding door, the
sliding ATM door
can be stopped from closing because of the extended portion 2200, which will
not
interfere with or disrupt the transaction.
Referring again to Fig. 5, the card account number including that portion
described as a PIN can be communicated by the intended recipient to the sender
and the
transfer made to that account. Alternatively, the transfer could be made to
any of the
system's primary account numbers to be accessed with the latter portion of the
account
number described and utilized as a PIN. In the latter application the PIN
portion of the
18
CA 02638850 2008-08-18
. .. ,
Atty Dkt.:
PC-1053
account number can be selected by the recipient or the sender and entered in
the sending
process in response to a suitable addition to the NR prompts or randomly
assigned by the
system and communicated to the sender who will communicate same to the
recipient.
The recipient can access the ATM 2400 with the tethered card 2000 and
implement the receipt of the transferred cash by entering that portion of the
account
number described as a PIN in response to the ATM prompt for the PIN as such
PIN
portion of the account number has been provided for above.
Fig. 6 shows another modified magnetic card 3000 that can be used with the
subject invention. Magnetic card 3000 can include a rectangular card portion
3100 with
magnetic strip portion 3150, and extending from one corner of the card 3100
and an
aperture 3250 at a corner other than one having the magnetic strip 3150. The
aperture
allows for a flexible tether line 3300 such as a chain, cord, and the like,
for attaching the
modified card 3000 to an ATM(automated teller machine) 3400.
This novel card 3000 can be attached or tethered to an ATM 3400 for use by a
recipient that is not in personal possession of any magnetic card that can use
an ATM
machine. The extended-card 3000 can be constructed so as to have the standard
and
usual magnetic stripe ATM card dimensions 3100 and magnetic stripe 3150 as the
first
portion of the card. The novel card 3000 can be inserted into an ATM terminal
device
opening or " swiped" through an ATM "card swipe" if the ATM was constructed
with a
" card swipe" rather than a card insertion opening. The magnetic stripe
information from
the tethered card 3000 can be assimilated and communicated through the
presently
existing and potentially future existing magnetic stripe processing devices
and networks
in the same manner otherwise described in this invention.
Referring to Fig. 6, card 3000 can be used in both an ATM having an ATM
magnetic card insertion opening or "card swipe" device. The tether 3300 can be
fixably
attached at one end to the magnetic card 3000, and the other end 3350 of the
tether 3300
19
CA 02638850 2008-08-18
. .- . ,
Atty Dkt.:
PC-1053
can be fixably attached to the ATM(automated teller machine) 3400 in a manner
similar
in principle to that presently utilized in retail stores to allow an item for
sale to be
displayed in a manner that permits mobility of the item for examination, while
fixably
securing the item to a display counter. The tether 3300 can be attached to a
fixture device
3350 or other medium which can be glued or otherwise attached to the ATM 3400
or to a
location suitably close to the ATM 3400 and within reach of the card tether
3300. The
ATM 3400 can be an ATM such as for example, a magnetic card swipe model NCR
model ATMs, in which magnetic strip portion 3150 of card 3000 is swiped into a
swiping channe13450 on the ATM 3400.
Both the novel magnetic cards 2000 Fig. 5 and 3000 Fig. 6 can be used with
either
slot opening ATMs, slot and sliding door version ATMs, and side swiping
channel
version ATMs.
As previously discussed, the invention uses magnetic cards such as credit
cards,
debit cards, bank cards, and ATM(automated teller machine) cards, and can use
a
specialized magnetic card earlier referred to as a Cash Magic card. The Cash
Magic cards
can be sold initially at retail stores for example, at $3.00 and the retail
stores can purchase
these for example at $1.50, giving a 100% sales profit to the merchant. Stores
that
presently sell another provider's pre-paid phone card may, par6cularly at the
outset,
choose to sell only this card.
Alternatively, retail stores can also sell specialized cash magic cards
combined
with a phone card. For example, the Cash Magic card can have an account that
can have
money transferred to by a sender on one side of the card, and the other side
of the card
can be a phone card with for example, 20 minutes pre-paid phone time for a
price of for
example, $5.00. These cards can have a magnetic stripe on each side, one for
the cash
transfer application and one for the phone card.
CA 02638850 2008-08-18
. , - .
Atty Dkt.:
PC-1053
Fig. 7A shows a front side 4100 of a card 4000 having magnetic stripes on both
sides. In Fig. 7A, a magnetic stripe 4150 can be located across an upper
longitudinal
portion of the front side 4100 of the card. On the front side 4100, the
magnetic stripe
4150 can be used for the cash magic operation.
Fig. 7B shows a back side 4200 of the card 4000 with the magnetic stripe 4250
that can be located across a lower longitudinal portion of the back side 4200
of the card
4000. On the back side 4200 of the card 4000, the magnetic stripe 4250 can be
used for
other transactions such as but not limited to being used as a phone card, a
credit card, a
debit card, bank card, ATM card, or a bank checking account, bank savings
account, and
the like. Thus, the invention can allow for a single card to be used for
different
transactions, that can have funds authorized by the same sender/recipient
system
described in the invention. Additionally, the double magnetic sided cards 4000
can have
a cash magic side, and a separate side having pre-existing funds or separately
generated
funds for making transactions.
The owners of this system can sell the basic cards for a wholesale price of
for
example, $2.50 giving a 100% sales profit to the merchant. The Cash Magic type
cards
may be purchased when needed to access an ATM, or purchased in advance for
ready
availability for future use.
The invention can be used by specific employers giving out Cash Magic(CM)
type magnetic cards to their employees. Each employee can receive one or more
CM
cards. The CM computer program supplied can put an employee information format
onto
a computer monitor. The employer will fill in the information needed for the
later
determination of withholding taxes and other payroll computations. The
employee can
supply the CM account number, without the PIN(personal identification
numbers), which
is to receive the net pay. Alternatively the employee can supply more than one
CM card
21
CA 02638850 2008-08-18
, . ~ . . ,
Atty Dkt.:
PC-1053
account number and the amounts or percentages to be transferred to each. One
or more
CM cards can be sent, or otherwise acquired by dependent relatives, even in
Mexico or
another country, to receive a portion of the employee's income. The PIN number
can be
changed by calling a CM toll-free service center number and following the
I.V.R.
prompts.
The employee can put his card through the "Card Swipe" when starting work and
when stopping. The CM computer program can compute the time worked, the gross
pay,
the deductions, and the net pay.
The "Card Swipe" can be at the employer's location or the work-site with a
portable personal computer. Transfers can be made on a daily basis, or such
basis as
preferred by the employer. The money transfer can be implemented by calling a
special
toll-free number, which will access and download the payroll information into
the CM
computer payroll program. Alternatively, a CM website can also safely receive
encrypted
information from the employer's computer.
The CM(cash magic) employer computer program can transfer each employee's
net pay from the employer's payroll account to the Cash Magic account. The
system can
deduct an agreed fee or service charge and split deposit the balance to the
individual
employee's CM escrow account, or accounts, accessible with the CM magnetic
stripe
card(s) from any ATM with the addition of the PIN number correlated to that
account.
The transfer to the employee's CM(cash magic) escrow account(s) accessible
from any domestic or foreign ATM can occur virtually simultaneously with the
implementation by the employer. The employer can also elect to transfer
withholding
taxes to a CM escrow account.
The invention system can benefit employers by providing an easy to use,
accurate,
time saving, and inexpensive payroll system. The automated system can
eliminate
bookkeeping, payroll and tax computations, check writing and virtually all
expenses
22
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
normally associated with the employee payroll. Employer and employee
statements can
be acquired from the CM computer periodically and on demand.
The invention system can benefit employees by providing a quick, easy to use
method to receive pay, as earned, without a traditional bank account, and to
send a
portion of the pay to a relative, even in another country, at low cost and
without any
effort.
An alternative method can also be provided for employers without computers.
The CM(cash magic) invention system can also provide the necessary payroll
computations. The individual employee's information can be entered by
accessing a CM
toll-free number and I.V.R. prompts will stimulate the entry of information
with a touch-
tone keypad. The card swipe can then be connected to the CM program, set up
for that
employer, with a telephone line connection to the CM computer, which will
perform all
computations and transfers.
Another alternative method would be to use live or automated operators, or
combinations thereof, for all or part of the process steps of the invention.
The CM employer payroll system which combines a "Card Swipe", an accounting
system, a tax and payroll computation system and a virtually simultaneous ATM
cash
pay-out system, virtually without employer time or effort, can be an extreme
improvement over all present "state-of-the-art" payroll systems. The invention
can be of
particular benefit to more than 35% of American adults who do not have bank
accounts
and to those who employ them.
A " Service Provider" using the system(such as an employer or a merchant
processing a sending implementation) can accept and retain a portion of the
processing
fees such as a 20% service fee for the service rendered, which amount can be
discounted
from the CM(cash magic) fee, or refuse it as a` perk" or job benefit to the
employee or
an advantage to a customer if the provider is a merchant.
23
CA 02638850 2008-08-18
Atty Dkt.:
PC-1053
Although the preferred embodiment describes using a touch-tone telephone to
send the money transfer, other mediums such as but not limited to PC(personal
computers) connected to modems, the lnternet, merchant card swipe machines,
live
telephone operators, P.O.S.(Point of Sale Terminals, and automated telephone
operators
can also be used to authorize the sending of the money transfer.
While the invention has been described, disclosed, illustrated and shown in
various terms of certain embodiments or modifications which it has presumed in
practice,
the scope of the invention is not intended to be, nor should it be deemed to
be, limited
thereby and such other modifications or embodiments as may be suggested by the
teachings herein are particularly reserved especially as they fall within the
breadth and
scope of the claims here appended.
24
