Method and system for processing transfer requests
View Patent ↗Methods and system for processing transfer requests are described. In one embodiment, a value transfer request may be received from a value provider through a network. The value transfer request may include a value amount to be provided from a source user to a target user. A settlement account of the value provider may be reduced by the value amount. A target account of the target user may be increased by the value amount.
1. A method comprising:
receiving, by a processor of a payment provider, a value transfer request from a value provider different than the payment provider through a network, the value transfer request including a value amount to be provided from a source user to a target user, wherein the target user does not have an account with the value provider and the source user does not have an account with the payment provider;
reducing, by the processor, a settlement account of the value provider by a first value amount corresponding to the value amount, wherein the settlement account is associated with the payment provider; and
increasing, by the processor, a target account of the target user by a second value amount corresponding to the value amount, wherein only the value provider and the target user are required to have an account with the payment provider.
2. The method of claim 1 , wherein the value provider is a bank.
3. The method of claim 1 , wherein the value provider is a gaming company.
4. The method of claim 1 , wherein the value amount is real currency and the first value amount is greater than or equal to the value amount.
5. The method of claim 1 , wherein the value amount is virtual currency.
6. The method of claim 1 , wherein the value amount comprises points, credits, miles, metals, or minutes.
7. The method of claim 1 , wherein the value amount is not real currency and the second value amount is a converted value of the value amount.
8. The method of claim 1 , further comprising converting the value amount from a source currency format to a target currency format.
9. A method comprising:
receiving a transaction request to transfer a value amount from a source user to a target user, wherein the target user does not have an account with a value provider and the source user does not have an account with a payment provider different from the value provider;
requesting, by the value provider, the payment provider to transfer the value amount from a settlement account to the target user;
decreasing, by a processor of the value provider, a source account of the source user by a first value amount corresponding to the value amount; and
funding, by the processor of the value provider, the settlement account by a second value amount corresponding to the value amount, wherein only the value provider and the target user are required to have an account with the payment provider.
10. The method of claim 9 , wherein the value provider is a bank.
11. The method of claim 9 , wherein the value provider is a gaming company.
12. The method of claim 9 , wherein the value amount is real currency and the first value amount is greater than or equal to the value amount.
13. The method of claim 9 , wherein the value amount is virtual currency.
14. The method of claim 9 , wherein the value amount comprises points, credits, miles, metals, or minutes.
15. The method of claim 9 , wherein the value amount is not real currency and the second value amount is a converted value of the value amount.
16. The method of claim 9 , further comprising converting the value amount from a source currency format to a target currency format.
17. A system, comprising:
a computer storage storing account information for a plurality of users having an account with a payment provider, wherein the account information comprises a user account identifier; and
a processor operable to:
receive a value transfer request from a value provider different than the payment provider through a network, the value transfer request including a value amount to be provided from a source user to a target user, wherein the target user does not have an account with the value provider and the source user does not have an account with the payment provider;
create an account for the target user if the target user does not have an account with the payment provider based on the stored account information;
reduce a settlement account of the value provider by a first value amount corresponding to the value amount, wherein the settlement account is associated with the payment provider; and
increase a target account of the target user by a second value amount corresponding to the value amount, wherein only the value provider and the target user are required to have an account with the payment provider.
18. The system of claim 17 , wherein the value provider is a bank.
19. The system of claim 17 , wherein the value provider is a gaming company.
20. The system of claim 17 , wherein the value amount is real currency and the first value amount is greater than or equal to the value amount.
21. The system of claim 17 , wherein the value amount is virtual currency.
22. The system of claim 17 , wherein the value amount comprises points, credits, miles, metals, or minutes.
23. The system of claim 17 , wherein the value amount is not real currency and the second value amount is a converted value of the value amount.
24. The system of claim 17 , wherein the processor is further operable to convert the value amount from a source currency format to a target currency format.