Title:
NOVEL USE OF MOBILE GSM TELEPHONE FOR TRANSFERRING MONEY
Document Type and Number:
WIPO Patent Application WO2006032944
Kind Code:
B1
Abstract:
The invention concerns a novel use of the mobile GSM telephone for transferring money (mobile transfer). This improves the current money transfer systems and methods and remedies the weakness of the banking network of the African continent due to the under-utilization of credit cards and cheque books because of the inaccessibility of services to a large percentage of the population (mobile account). Whatever the location of an individual who wishes to send money, s/he buys an encoded card, then communicates the code to the recipient of the money through any existing channel (telephone, SMS, fax, e-mail or the like). The latter, namely the recipient goes to an agreed location after introducing the code in the chip of his/her mobile GSM telephone. After dialling a given combination, the mobile telephone screen displays the amount to be withdrawn at the agreed payer's. Similarly, someone provided with a mobile account implemented by the operator in partnership with his/her bank can perform virtual outpayments in the agreed locations as long as his/her account is debited by the introduction of a valid code. The person responsible for the payment in the case of a mobile transfer or for virtual inpayment in the case of a mobile account must after having paid in the first case or received payment in the second case enter a combination beginning with # followed by a code attributed to him/her as identification # followed by the amount that has been paid out or paid in # then sent from the mobile GSM telephone to inform the central server of the performed operation.
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Application Number:
PCT/IB2004/003139
Publication Date:
May 11, 2006
Filing Date:
September 22, 2004
Export Citation:
Assignee:
NIANE MAMADOU TAMBEROU (SN)
International Classes:
G07F19/00; G07F7/02
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