Payment card based remittance system with delivery of anti-money laundering information to originating financial institution

Abstract

A payment system computer receives a request for a funds transfer from a sender to a recipient. The payment system computer routes a request to authorize funding of the funds transfer to a first financial institution. The payment system computer receives an authorization response that includes sender information that satisfies know your customer (KYC)/anti-money laundering (AML) requirements. A mobile telephone number of the recipient is translated into a recipient account number, wherein the recipient account number corresponds to a recipient account at a second financial institution different from the first financial institution. The payment system computer then transmits the sender information and the funds to the second financial institution to satisfy KYC/AML requirements and for crediting to the recipient account.

What is claimed is: 
     
         1 . A method comprising:
 receiving in a payment system computer, a request for a funds transfer from a sender to a recipient, the request comprising information to identify a funding account in a first financial institution belonging to the sender, an amount of funds to transfer, and a mobile telephone number of a recipient;   routing, by the payment system computer to the first financial institution, a request to authorize funding of the funds transfer;   receiving, by the payment system computer, an authorization response from the first financial institution that includes sender information that satisfies know your customer (KYC)/anti-money laundering (AML) requirements;   translating the mobile telephone number of the recipient into a recipient account number, wherein the recipient account number corresponds to a recipient account at a second financial institution different from the first financial institution; and   transmitting, by the payment system computer, the sender information and the funds to the second financial institution to satisfy KYC/AML requirements and for crediting to the recipient account.   
     
     
         2 . The method of  claim 1 , further comprising:
 receiving in the payment system computer from the second financial institution, recipient information associated with KYC/AML requirements; and   transmitting, by the payment system computer, the recipient information to the first financial institution.   
     
     
         3 . The method of  claim 1 , further comprising:
 receiving, by the payment system computer, a message from the second financial institution indicating a successful funds transfer; and   transmitting the message indicating a successful funds transfer to the sender.   
     
     
         4 . The method of  claim 1 , further comprising:
 receiving, by the payment system computer, a message from the second financial institution indicating an unsuccessful funds transfer;   terminating the funds transfer request; and   transmitting, by the payment system computer, an unsuccessful funds transfer message to the sender.   
     
     
         5 . The method of  claim 4 , wherein the unsuccessful funds transfer message indicates one of that the recipient account number is invalid or that the recipient account number cannot be determined. 
     
     
         6 . The method of  claim 1 , wherein translating comprises:
 transmitting, by the payment system computer, the mobile telephone number of the recipient to a translation server computer; and   receiving, by the payment system computer from the translation server computer, the recipient account number.   
     
     
         7 . The method of  claim 1 , wherein the information identifying the funding account comprises at least one of a mobile telephone number of the sender and a payment card account number of the sender. 
     
     
         8 . The method of  claim 7 , further comprising, when the information identifying the funding account number comprises the mobile telephone number of the sender, translating the mobile telephone number of the sender into a sender payment card account number. 
     
     
         9 . The method of  claim 1 , wherein the at least one of the sender information adequate to satisfy the KYC/AML requirements comprises at least one of the sender's name and residential address, and a record of an identification document that confirms the name and address of the sender. 
     
     
         10 . The method of  claim 1 , wherein the recipient information that satisfies the KYC/AML requirements comprises at least one of the recipient's name and residential address, and a record of an identification document that confirms the name and address of the recipient. 
     
     
         11 . The method of  claim 1 , wherein the information identifying the funding account comprises a mobile telephone number of the sender, and further comprising:
 transmitting, by the payment system computer following receipt of the request for the funds transfer, the mobile telephone number of the sender to a translation server; and   receiving, by the payment system computer from the translation server, a funding payment card account number.   
     
     
         12 . The method of  claim 1 , further comprising:
 receiving by the payment system computer, clearing files from at least one of the first financial institution and the second financial institution; and   instructing, by the payment system computer, a clearing bank to transfer funds equal to the transfer amount among accounts of the first and second financial institutions.   
     
     
         13 . The method of  claim 1 , wherein the recipient account number is a payment card account number of the recipient. 
     
     
         14 . The method of  claim 1 , wherein the funds transfer is a payment transaction in a payment card system. 
     
     
         15 . The method of  claim 1 , further comprising:
 generating, by the payment system computer, a unique transaction number associated with the funds transfer; and   storing, by the payment system computer, the unique transaction number in association with at least one of the funding account information, the receiving account number, the recipient information and the sender information.   
     
     
         16 . The method of  claim 1 , further comprising:
 generating, by the payment system computer, a unique transaction number associated with the funds transfer; and   transmitting, by the payment system computer, to at least one of the first financial institution and the second financial institution, the unique transaction number in association with at least one of the funding account information, the receiving account number, the recipient information and the sender information.   
     
     
         17 . The method of  claim 1 , wherein the request is received by the payment system computer from one of a sender electronic device, an automated teller machine (ATM), a kiosk, a bank branch device, a retail store device, and a remittance services provider (RSP) computer. 
     
     
         18 . An apparatus, comprising:
 a processor;   a communication device operably connected to the processor; and   a storage device operably connected to the processor, wherein the storage device stores instructions configured to cause the processor to:
 receive a request for a funds transfer from a sender to a recipient, the request comprising information to identify a funding account in a first financial institution belonging to the sender, an amount of funds to transfer, and a mobile telephone number of a recipient; 
 route a request to the first financial institution to authorize funding of the funds transfer; 
 receive an authorization response from the first financial institution that includes sender information adequate to satisfy know your customer (KYC)/anti-money laundering (AML) requirements; 
 translate the mobile telephone number of the recipient into a recipient account number, wherein the recipient account number corresponds to a recipient account at a second financial institution different from the first financial institution; and 
 transmit the sender information and the funds transfer to the second financial institution to satisfy KYC/AML requirements and for crediting to the recipient account. 
   
     
     
         19 . The apparatus of  claim 18 , wherein the processor is further operative to:
 receive from the second financial institution recipient information associated with KYC/AML requirements; and   transmit the recipient information to the first financial institution.   
     
     
         20 . The apparatus of  claim 18 , wherein the processor is further operative to:
 receive a message from the second financial institution indicating a successful funds transfer; and   transmit the message indicating a successful funds transfer to the sender.   
     
     
         21 . The apparatus of  claim 18 , wherein the processor is further operative to:
 receive a message from the second financial institution indicating an unsuccessful funds transfer;   terminate the funds transfer request; and   transmit an unsuccessful funds transfer message to the sender.   
     
     
         22 . The apparatus of  claim 18 , wherein the processor is further operative to:
 receive clearing files from at least one of the first financial institution and the second financial institution; and   instruct a clearing bank to transfer funds equal to the transfer amount among accounts of the first and second financial institutions.   
     
     
         23 . The apparatus of  claim 18 , wherein the processor is further operative to:
 generate a unique transaction number associated with the funds transfer; and   store the unique transaction number in association with at least one of the funding account information, the receiving account number, the recipient information and the sender information.   
     
     
         24 . The apparatus of  claim 18 , wherein the processor is further operative to:
 generate a unique transaction number associated with the funds transfer; and   transmit to at least one of the first financial institution and the second financial institution, the unique transaction number in association with at least one of the funding account information, the receiving account number, the recipient information and the sender information.