Methods and systems for using the public switched telephone network to conduct a transaction between customer accounts

Abstract

Methods and systems for using a communication to execute a transaction with respect to an account. A communication is received on a calling line associated with a calling line number. An account number and a transaction amount are obtained from the communication. The account number corresponds to an account with respect to which a transaction is to be conducted. The transaction amount may be a number of units, a dollar amount, etc. A validation may be carried out to determine whether the caller or calling line number is authorized with respect to the conduct of the transaction. In an exemplary embodiment, a billing message is created to include the account number, the transaction amount, and the calling line number. The account number and the transaction amount from the billing message are used to execute the transaction with respect to the account corresponding to the account number. The transaction may be executed by crediting the account by the transaction amount such as by at least the number of units or by at least the dollar amount and by debiting the calling line number account by at least the number of units or by at least the dollar amount. The communication may be provided with an announcement regarding the execution of the transaction.

Description

FIELD OF THE INVENTION[0001]This invention generally relates to the fields of telecommunications and electronic commerce, and particularly, relates to the use of a billing message that is generated in connection with a communication in the public switched telephone network (PSTN) and that is used to provide information relating to the execution of a transaction between customer accounts.BACKGROUND OF THE INVENTION[0002]Assume your son or daughter is away at college, and as a student usually does, runs a little short of cash. Parents generally find out about such a cash shortage in a telephone call from the student. It would be nice to fix or alleviate that cash shortage through something as easy as a telephone call such as the call that brought the news of the cash shortage. But conventional methods of funds transfer generally are not so simple.[0003]One method a parent may use to help a student's cash flow is to hand cash directly to the student on the student's next visit home. Bu...

AI Technical Summary

Benefits of technology

"The present invention provides methods and systems for using the public switched telephone network (PSTN) to conduct a funds transfer service or other transaction service for customers of a telecommunications service provider. The PSTN is a large pool of customers linked together through a common telecommunications service. The methods and systems allow for quick and secure transactions between customers and enterprises using the PSTN. The invention allows for the use of a communication in the PSTN to effectively charge a transaction to another person's account. The transaction service can be provided quickly and with minimal fees to the customer. The invention also includes a billing system that allows for the efficient and secure processing of transactions. Overall, the invention provides a convenient and secure way to conduct transactions using the PSTN."

Problems solved by technology

But conventional methods of funds transfer generally are not so simple.

But such hand delivery may not come quickly enough for the student's situation.

Again, such mail or other delivery may not be quick enough for the student's situation.

Like hand, postal or other delivery, such wire transfer of funds may not be quick enough for the student's situation.

Often, the people in need of cash have waited until the last possible moment to make what is to them an embarrassing appeal for the money.

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