US 8,612,325 B2
Automatic authentication and funding methodGeneral
US 8,612,325 B2
Automatic authentication and funding method
Tech Center:
3600 Transportation, Construction, Electronic Commerce, Agriculture, National Security and License and Review
Examiner:
Lalita M Hamilton
Art Unit:
3691 Business Methods — Finance/Banking/ Insurance
Agent:
Inventors:
Spikes Stacy; Hamet Watt
Assignee:
MOVIONE, INC.
Priority:
05/18/12
Filed:
10/18/12
Granted:
12/17/13
Expiration:
01/24/22
Abstract
Embodiments of an automatic authentication and funding method include a location-based transaction method according to which an overseer partners with multiple providers of at least one of goods and services to sell the goods and services to authorized users of a payment device. A controller entity defines and identifies an authorized user, and the controller agrees to fund predefined purchases on behalf of the authorized user, and further agrees to fund a user account for the purchases. The overseer receives user data and provider data from the controller, and generates a payment device for the user. The overseer uses at least one location-based mechanism to place funds on the payment device from the user account under predefined circumstances such that the user is enabled to make the predefined purchases from the approved providers.
Cooperative Patent Classification (CPC)
G06G06Q20/3224G06Q