A method of converting cash into virtual cash and loading it to mobile phone cash account

Description

SPECIFICATION‘® 1^22A METHOD OF CONVERTING CASH INTO VIRTUAL CAS11AND LOADING IT TO MOBILE PHONE CASH ACCENTTitle                                  p|t0TINThis invention relates in general to mobile phones butrBf-5'09 MRY 21particularly to a method of receiving and transmitting data regardingindividual financial transactions.rigCttViD 8* •Financial transactions are commonly conducted using a wide variety         )of credit and debit cards. The transactions may be on-line or off-line retail ,1 purchase to withdraw cash or make financial transfers using automated teller machines or self service terminals.With the advent of mobile phones, the following transactions, namely: (a) balance inquiry, (b) airtime load transfers, (c) funds transfei-from one account to another account where both accounts are maintained by one bank, and (d) bills payment where funds are transferred from one account to another account where both accounts are maintained by one bank, are completed by sending Short Messaging Service (SMS) commands using mobile phones.However, the present mobile phones are not yet used for financial transfers from one person (entity) to another (entity) or for purchase ol goods or services.Il is the primary aim of the present invention to provide a method of converting cash into virtual cash and loading it to a mobile phone cash account by using a telephone company's (telco) cash product services. The virtual cash may be used for financial transfers and the purchase of goods or services.Another object is to provide a method of loading tube mobile phones with virtual cash from a telco's outlet or a 3rd parly (outlet) through a range of devices including mobile phone, web portal, point-of-sale termi (device) using telco's cash product services.The virtual cash can be converted back to cash or be used to purchase goods or services with much more ease than going to a bank and withdrawing money.Still an object is to provide a novel method using the mobile phones in purchasing goods or services wherein transaction data is simultaneously transferred and recorded to and on the customer's mobile phone and the outlet's device.These and other objects and advantage of the present invention will become apparent upon reading the following detailed description taken in conjunction with the appended drawings, wherein:Figure I is a block diagram of the elements involve in carrying out the method; andFigure 2 is a flow chart of the method.Referring now to several views of the drawings wherein like reference numerals designate same parts throughout, the method ot converting cash into virtual cash and loading it to the customer's mobile phone or 3rd party recipient's mobile phone using telco's cash product services generally designated as 10.The present invention involves a customer 11, his mobile phone or 3rd party's mobile phone 12, an outlet 13 and a tcleco 14 and are all united by software.The customer goes (15) to an outlet to convert cash into virtual cash and loading it to customer's mobile phone or a 3ld party-recipient's mobile phone using telco's cash product service.The customer fills up a registration form (16) and submits his identification.Frontlincr of the outlet verifies (17) customer's information and identification.Fronlliner accesses the device and keys in command (18) containing customer's information, reference number of registration form, customer's or 3ld parly-recipient's mobile phone number and amount of cash to be converted to virtual cash and sends this to telco.Fronlliner collects (19) cash to be converted to virtual cash and the service fee and issues receipt to the customer.Customer receives (20) an SMS acknowledgment from telco that the cash has been converted to virtual cash and loaded in the recipient's mobile phone cash account using telco's cash product service transfer.Fronlliner receives (21) an acknowledgment and confirmation number from telco in a format that corresponds to the outlet's device.Fhe customer's mobile phone or 3rd parly recipient's mobile phone is loaded with virtual cash, which may be used for other financial transactions.180 2 '09 MAY 27 P3&I12                         14FIG. 1GU3BE TELEOCM, INC.ApplicantFigure 2GU3BE TELKEM, INC.ApplicantBENG2CN NEERE UNTALANRepresentativeFigure 2 continuedGU3BE TELKOM, INC.ApplicantBENSON NEGRE UNTALAN Representative

Claims

'05 :.6 22 PC-J / '05 :.6 22 PC-J / 1 CLAIM:The method of converting cash into virtual cash and loaded into a mobile phone cash account using telco's cash product services comprising the steps of:customer going to outlet to convert cash into virtual cash using telco's cash product services;customer filling up forms, showing, identification;fronlliner of outlet verifying customers' identification;frontliner accessing, the device and keying, command containing customer's information, reference number of reeistralion form, customer's or 31*1 parly-recipient's mobile phone number and amount of cash to be converted to virtual cash and sends this to telco;frontliner collecting, cash to be converted to virtual cash and the service fee anti issues receipt to the customer;customer receiving, SMS acknowledgment from telco that the cash has been converted to virtual cash anti loaded in the recipient's mobile phone cash account;front! iner's device receiving a message from telco (with format matching the device) of acknowledgment with confirmation number.LIST OF INVENTORS1. FERNADO P. TEODORO, Jr.

2. RODELL A. GARCIA3. RAUL MACATANGAY4. MICKEY CAYETANO5. GRACE REYES6. JEWEL DIMAANO7. MARLOWE PONGOL8. SHEILA JIMENEZ9. MELENITA QUITO10. JENNY VILLANUEVA11. JUSTINE CAMACHO12. KAYTEE REYES13. SHYDEE BUIZON-TIAMBENG14. JESSICA ANN REYES15. JOANNE AVENDANO16. VERNA QUINTO17. ALAIN BUSTAMANTE18. LOUIE DOMINGOAll c / o Globe Telecom Plaza 1, Pioneer corner Madison Streets, 1552 Mandaluyong City1. RICHARD MATOTEK2. JUSTIN HO3. ANDREW BARNHAMAll c / o UTIBA PTY. LTD. Level 6,190 Queen Street, Melbourne, Victoria, 3000 Australia