Systems and methods for utilizing social media with money transfer transactions
View Patent ↗Systems and methods which utilize one or more social networking systems when creating, funding, and/or notifying a party of a transaction are provided. In accordance with one aspect, a money transfer transaction may be staged by a user whereupon a link corresponding to the staged transaction may be posted to one or more social networking services in order to allow for multiple users to access and fund the staged transaction. Additionally, in some aspects a user of a social networking service may generate a comment or post which then automatically triggers the staging of a money transfer transaction. Moreover, social networking services may be utilized to provide various notifications regarding money transfer transactions.
1. A method for facilitating a money transfer transaction, said method comprising:
establishing, by at least one processing device of a money transfer service, a relationship between a receiving party and a money transfer service, said establishing includes obtaining, by the at least one processing device of the money transfer service, account access of one or more social media account of the receiving party;
associating, by the at least one processing device, the one or more social media account of the receiving party with activities implemented by the money transfer service, wherein said activities comprise:
monitoring, by the at least one processing device, social media interactions of the receiving party, wherein the monitored social media interactions include one or more message posted on one or more social media stream of the one or more social media account of the receiving party;
identifying, by the at least one processing device based on the monitored social media interactions of the receiving party, a transactional message from the one or more message posted on the one or more social media stream of the one or more social media account of the receiving party, wherein the transactional message includes transaction information descriptive of a new money transfer transaction;
extracting, by the at least one processing device, the transaction information from the identified transactional message;
staging, by the at least one processing device based on the extracted transaction information, the new money transfer transaction to transfer funds to the receiving party, wherein the staged money transfer transaction is configured to be paid out to the receiving party and funded by one or more sending party accessing the staged money transfer transaction and the money transfer service via the one or more social media stream;
creating, by the at least one processing device, a webpage configured to provide access to the staged money transfer transaction;
providing, by the at least one processing device, one or more notification to a social media server corresponding to the receiving party's activities undertaken with the money transfer service, wherein said providing the one or more notification comprises:
determining, based on the money transfer service's access to the one or more social media account of the receiving party, if the one or more social media stream of the one or more social media account of the receiving party is public;
posting, based on the determined public availability, a link corresponding to the created webpage configured to provide access to the staged money transfer transaction on the one or more social media stream of the one or more social media account of the receiving party, wherein the posted link is accessible to the one or more sending party; and
directing, based on the posted link, the one or more sending party to the created webpage associated with the staged money transfer transaction, wherein the one or more sending party interacts with the webpage using a process implemented by the money transfer service to fund the staged money transfer transaction; and
receiving, by the at least one processing device, funds from the one or more sending party corresponding to the staged money transfer transaction.
2. The method of claim 1 wherein the process implemented by the money transfer service allows for a pre-determined maximum amount of funds to be provided by each of the one or more sending party.
3. The method of claim 1 wherein the process implemented by the money transfer service corresponds to funding the money transfer transaction that has been established by a billing party.
4. The method of claim 1 wherein the one or more notification provides one or more details to the receiving party corresponding to the staged money transfer transaction that has been created and funded to provide funds to the receiving party.
5. The method of claim 1 wherein the one or more notification is generated in response to a social media network user posting the transactional message, wherein the transactional message has one or more tags and indicators which automatically provide the transaction information to the money transfer service to extract and stage the new money transfer transaction.
6. The method of claim 5 wherein the one or more tags include one or more hashtag messages posted to a social media site which call out the money transfer service and provide the transaction information.
7. An apparatus configured for implementing financial transactions, the apparatus comprising:
an agent computer having at least one processor and memory coupled to the at least one processor, wherein the at least one processor is configured to:
establish a relationship between a receiving party and a money transfer service, said establishing includes obtaining account access of one or more social media account of the receiving party;
associate the one or more social media account of the receiving party with activities implemented by the money transfer service, wherein said activities comprise:
monitoring social media interactions of the receiving party, wherein the monitored social media interactions include one or more message posted on one or more social media stream of the one or more social media account of the receiving party;
identifying, based on the monitored social media interactions of the receiving party, a transactional message from the one or more message posted on the one or more social media stream of the one or more social media account of the receiving party, wherein the transactional message includes transaction information descriptive of a new money transfer transaction;
extracting the transaction information from the identified transactional message;
staging, based on the extracted transaction information, the new money transfer transaction to transfer funds to the receiving party, wherein the staged money transfer transaction is configured to be paid out to the receiving party and funded by one or more sending party accessing the staged money transfer transaction and money transfer service via the one or more social media stream;
creating a webpage configured to provide access to the staged money transfer transaction;
providing one or more notification to a social media server corresponding to the receiving party's activities undertaken with the money transfer service, wherein said providing the one or more notification comprises:
determining, based on the money transfer service's access to the one or more social media account of the receiving party, if the one or more social media stream of the one or more social media account of the receiving party is public;
posting, based on the determined public availability, a link corresponding to the created webpage configured to provide access to the staged money transfer transaction on the one or more social media stream of the one or more social media account of the receiving party, wherein the posted link is accessible to the one or more sending party; and
directing, based on the posted link, the one or more sending party to the created webpage associated with the staged money transfer transaction, wherein the one or more sending party interacts with the webpage using a process implemented by the money transfer service to fund the staged money transfer transaction; and
receiving, by the at least one processing device, funds from the one or more sending party corresponding to the staged money transfer transaction.
8. The apparatus of claim 7 wherein the process implemented by the money transfer service allows for a pre-determined maximum amount of funds to be provided by each of the one or more sending party.
9. The apparatus of claim 7 wherein the process implemented by the money transfer service corresponds to funding the money transfer transaction that has been established by a billing party.
10. The apparatus of claim 7 wherein the one or more notification includes a reminder to send a money transfer and the link corresponds to a pre-established money transfer transaction.
11. The apparatus of claim 7 wherein the one or more notification provides one or more details to the receiving party corresponding to the staged money transfer transaction that has been created and funded to provide funds to the receiving party.
12. The apparatus of claim 7 wherein the one or more notification is generated in response to a social media network user posting the transactional message, wherein the transactional message has one or more tags and indicators which automatically provide the transaction information to the money transfer service to extract and stage the new money transfer transaction.
13. The apparatus of claim 12 wherein the tags include one or more hashtag messages posted to a social media site which call out the money transfer service and provide the transaction information.
14. The method of claim 1 wherein the posted link is configured with less private information when the one or more social media stream is public.
15. The method of claim 1 wherein the posted link to the created webpage associated with the staged money transfer transaction is configured to expire after a predetermined time.
16. The method of claim 15 wherein the predetermined time is when the staged money transfer transaction is fully funded.