Monetary transaction system

1. A computer system for conducting monetary transactions between subscribers to a mobile wallet system, comprising:

one or more processors; and

one or more computer-readable media having stored thereon executable instructions that when executed by the one or more processors configure the computer system to perform at least the following:

receive, through an API associated with an integration tier of a monetary transaction system, a communication message from a first mobile device over one of a plurality of channels connected to the monetary transaction system, the integration tier configured to manage mobile wallet sessions with a mobile device and including web services communication mechanisms for interfacing with a mobile wallet application and a plurality of different device types over a plurality of different communication channels, the integration tier being configured to receive binary and text messages from a mobile device, the communication message indicating that a first subscriber desires to transfer a specified amount of funds to a second non-subscriber;

validate a first account associated with the first subscriber, wherein validating the first account comprises communicating from the integration tier to a database service to query attributes of the first account, the database service operable to store financial transaction details, store customer profiles, and manage money containers;

activate by the monetary transaction system an electronic hold on the first account associated with the first subscriber, the hold being placed on the specified amount of funds;

receive, through a network connection, an identifier associated with the second non-subscriber;

generate a network communication to the second non-subscriber, the network communication generated by a notification services engine, the notification services engine configured to interface with the integration tier and to send a plurality of corresponding different types of messages over different communication channels to different devices, including a customer's mobile device, to interface with a mobile wallet application installed on the customer's mobile device wherein the communication comprises:

an authorization code, and

instructions on how to receive the specified amount of funds in the form of cash;

communicate to an agent the authorization code and information about the specified amount of funds for verification by the agent and transfer of the specified amount of funds in the form of cash to the second non-subscriber;

when the second non-subscriber fails to collect the specified amount of funds in the form of cash within a particular time period, automatically release the electronic hold from the first account associated with the first subscriber; and

when the second non-subscriber collects the specified amount of funds in the form of cash within the particular time period, perform the following:

receive through the network connection from an agent terminal a verification of the authorization code,

decrement the first account by the specified amount of funds, and

communicate to a first mobile wallet associated with the first account a message indicating that the first account has been decremented by the specified amount of funds.

2. The computer system of claim 1 , wherein the executable instructions include instructions that are executable to configure the computer system to:

receive from the first mobile device a communication comprising a second non-subscriber identifier, wherein the second non-subscriber identifier comprises a phone number.

3. The computer system of claim 1 , wherein the first account is not associated with a bank account.

4. The computer system of claim 1 , wherein the first mobile wallet is associated with the first mobile device.

5. The computer system of claim 1 , wherein the particular time period comprises a number of days that the second non-subscriber has to receive the specified amount of funds from the agent.

6. A computer-implemented method for conducting monetary transactions between subscribers to a mobile wallet system, the method executed on one or more processors and comprising:

receiving, through an API associated with an integration tier of a monetary transaction system, a communication message from a first mobile device over one of a plurality of channels connected to the monetary transaction system, the integration tier configured to manage mobile wallet sessions with a mobile device and including web services communication mechanisms for interfacing with a mobile wallet application and a plurality of different device types over a plurality of different communication channels, the integration tier being configured to receive binary and text messages from a mobile device, the communication message indicating that a first subscriber desires to transfer a specified amount of funds to a second non-subscriber;

validating a first account associated with the first subscriber, wherein validating the first account comprises communicating from the integration tier to a database service to query attributes of the first account, the database service operable to store financial transaction details, store customer profiles, and manage money containers;

activating by the monetary transaction system an electronic hold on the first account associated with the first subscriber, the hold being placed on the specified amount of funds;

receiving, through a network connection, an identifier associated with the second non-subscriber;

generating a network communication to the second non-subscriber, the network communication generated by a notification services engine, the notification services engine configured to interface with the integration tier and to send a plurality of corresponding different types of messages over different communication channels to different devices, including a customer's mobile device, to interface with a mobile wallet application installed on the customer's mobile device wherein the communication comprises:

an authorization code, and

instructions on how to receive the specified amount of funds in the form of cash;

communicating to an agent the authorization code and information about the specified amount of funds for verification by the agent and transfer of the specified amount of funds in the form of cash to the second non-subscriber;

when the second non-subscriber fails to collect the specified amount of funds in the form of cash within a particular time period, automatically releasing the electronic hold from the first account associated with the first subscriber; and

when the second non-subscriber collects the specified amount of funds in the form of cash within a particular time period:

receiving through the network connection from an agent terminal a verification of the authorization code;

decrementing the first account by the specified amount of funds; and

communicating to a first mobile wallet associated with the first account a message indicating that the first account has been decremented by the specified amount of funds.

7. The computer-implemented method of claim 6 , further comprising:

receiving from the first mobile device a communication comprising a second non-subscriber identifier, wherein the second non-subscriber identifier comprises a phone number.

8. The computer-implemented method of claim 6 , wherein the first account is not associated with a bank account.

9. The computer-implemented method of claim 6 , wherein the first mobile wallet is associated with the first mobile device.

10. The computer-implemented method of claim 9 , wherein the particular time period comprises a number of days that the second non-subscriber has to receive the specified amount of funds from the agent.

11. A computer-readable media comprising one or more physical computer-readable storage media having stored thereon executable instructions that, when executed at a processor, cause a computer system to perform a method for conducting monetary transactions between subscribers to a mobile wallet system, the method comprising:

receiving, through an API associated with an integration tier of a monetary transaction system, a communication message from a first mobile device over one of a plurality of channels connected to the monetary transaction system, the integration tier configured to manage mobile wallet sessions with a mobile device and including web services communication mechanisms for interfacing with a mobile wallet application and a plurality of different device types over a plurality of different communication channels, the integration tier being configured to receive binary and text messages from a mobile device, the communication message indicating that a first subscriber desires to transfer a specified amount of funds to a second non-subscriber;

validating a first account associated with the first subscriber, wherein validating the first account comprises communicating from the integration tier to a database service to query attributes of the first account, the database service operable to store financial transaction details, store customer profiles, and manage money containers;

activating by the monetary transaction system, an electronic hold on the first account associated with the first subscriber, the hold being placed on the specified amount of funds;

receiving, through a network connection, an identifier associated with the second non-subscriber;

generating a network communication to the second non-subscriber, the network communication generated by a notification services engine, the notification services engine configured to interface with the integration tier and to send a plurality of corresponding different types of messages over different communication channels to different devices, including a customer's mobile device, to interface with a mobile wallet application installed on the customer's mobile device wherein the communication comprises:

an authorization code, and

instructions on how to receive the specified amount of funds in the form of cash;

communicating to an agent the authorization code and information about the specified amount of funds for verification by the agent and transfer of the specified amount of funds in the form of cash to the second non-subscriber;

when the second non-subscriber fails to collect the specified amount of funds in the form of cash within a particular time period, automatically releasing the electronic hold from the first account associated with the first subscriber; and

when the second non-subscriber collects the specified amount of funds in the form of cash within the particular time period, perform the following:

receiving through the network connection from an agent terminal a verification of the authorization code;

decrementing the first account by the specified amount of funds; and

communicating to a first mobile wallet associated with the first account a message indicating that the first account has been decremented by the specified amount of funds.

12. The computer-readable media of claim 11 , wherein the executable instructions include instructions that are executable to configure the computer system to:

receive from the first mobile device a communication comprising a second non-subscriber identifier, wherein the second non-subscriber identifier comprises a phone number.

13. The computer-readable media of claim 11 , wherein the first account is not associated with a bank account.

14. The computer-readable media of claim 11 , wherein the first mobile wallet is associated with the first mobile device.

15. The computer-readable media of claim 14 , wherein the particular time period comprises a number of days that the second non-subscriber has to receive the specified amount of funds from the agent.