Moneygram International, Inc.

Billy Joe Steiger

James M Henry

Dorilyn Lee Sletten

Eric James Sander

Diana Chauvin

Shannon Lee Bennett

Keith Fulton

Chris Van Matre

Peter Gore

Olakunle H Olamuyiwa

Georgina Essah

A computer system is operated to prevent fraud in a money transfer receive transaction. A send transaction request is received from a sender for a money transfer including a send amount. The sender is prompted to select one or more security inputs to be supplied by a receiver for redemption of the money transfer. A send transaction record is stored with the selected one or more security inputs in a server. A receive transaction request is then received from the receiver. The receiver is prompted for the one or more security inputs set for redemption of the money transfer, and the provided one or more security inputs from the receiver are received. The received one or more security inputs are authenticated, and release of funds in the send amount is authorized if the received one or more security inputs are authenticated.

Verification methods for fraud prevention in money transfer receive transactions

A data processing system coupled to a rules database and a customer database is responsive to transaction requests representative of money transfers. The rules database includes information representative of transaction rules such as location-based rules, transaction type-based rules, customer-based rules, aggregated transaction value rules and currency exchange rules, at least some of which include an aggregation threshold. The system processes the transaction requests during transaction processing sessions to enable enforcement of governmental money transfer compliance requirements. Responses including requests for additional information, approvals and denials are provided by the system.

Global compliance processing system for a money transfer system

A method of performing a money transfer transaction involves receiving information at an automated kiosk from a user for a money transfer transaction, including a transaction type selection and, responsive to the information from the user received at the kiosk, building a staging record for the transaction. The staging record includes at least a retrieval key to identify the staging record and a transaction type identifier. The method provides to the sender from the kiosk a machine readable staged transaction token with staging information stored thereon, including the retrieval key for use in transaction fulfillment.

Method and apparatus for money transfer

An improved money transfer system includes a rules database, a customer database, and a transaction processing system. The rules database includes information representative of transaction rules, at least some of which include an aggregation threshold. The customer database includes information representative of customers' transaction histories. The transaction processing system is connected to the rules database and customer database and includes point of entry ports, a customer identifier, a rules coordinator, an aggregation engine, and a transaction rules service. The point of entry ports receive transaction requests from points of entry and provide transaction responses to the points of entry. Based on information received in transaction requests, the customer identifier identifies customers and the rules coordinator determines applicable transaction rules. The aggregation engine determines aggregation values as a function of customers' transaction histories. The transaction rules service determines whether information received in the transaction requests meets the applicable transaction rules and causes the aggregation engine to determine aggregation values if the applicable transaction rules include aggregation thresholds. The transaction rules service generates transaction responses based upon the information received in the transaction requests along with any information received in response to any requests for additional information and any aggregation values, and updates the customer database as a function of the transaction.

A method of performing a money transfer send transaction comprises receiving information at a call center from a sender for a send transaction, including a proposed send amount, and responsive to the information from the sender received at the call center, building a staging record for the send transaction. The staging record includes compliance data responsive to the proposed send amount and to compliance rules. A data center receives information from an agent provided by the sender to the agent, with the information including a retrieval key to identify the staging record, a requested send amount and agent location information. Responsive to the requested send amount and the agent location information, the data center identifies in the compliance rules at least one applicable compliance window and tests the requested send transaction and compliance data in the staging record for consistency with the at least one applicable compliance window. Responsive to an affirmative test for consistency, the data center prompts the agent to collect from the sender payment of the requested send amount and any transaction fee and, responsive to the agent's confirmation of receipt of payment, prepares a send transaction record. Finally, the data center provides the agent a send transaction identifier for communication to the sender.

Growing community of inventors

Ovilla, TX, United States of America

Billy Joe Steiger