Method and system for performing money transfer transactions
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United States of America Patent
Stats
-
Mar 9, 2010
Grant Date -
Aug 31, 2006
app pub date -
Apr 26, 2006
filing date -
Oct 26, 1999
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A system for performing a money transfer receive transaction includes a receive transaction staging device which provides a recipient with access to a financial services institution in order to receive transaction details from the recipient. The system also includes a data base for storing transaction details and a receive control code, wherein the transaction details include a receive amount, and wherein the receive control code corresponds to the transaction details stored on the data base. The system further includes a receive transaction fulfillment device in communication with the data base to retrieve the receive control code and the transaction details from the data base based on the receive control code. The data base verifies the receive control code and authorizes the receive transaction fulfillment device to issue cash or another negotiable instrument corresponding to at least a portion of the receive amount.
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