Providing escrow service for digital wallet transactions

Abstract

A system and method for facilitating a value exchange transaction are provided. A request is received from a wallet application on a mobile device of a first user. The request indicates a transfer of a value to a second user. The value is associated with a source from a plurality of sources associated with a user account of the first user. The plurality of values comprise monetary values and non-monetary values. The value indicated in the request is transferred to an escrow account.

1 . A method comprising:
 receiving, by a networked system, a request from a wallet application on a mobile device of a first user, the request indicating a transfer of a value to a second user, the value associated with a source from a plurality of sources associated with a user account of the first user, the plurality of values comprising monetary values and non-monetary values; and   causing, using a hardware processor, the value indicated in the request to be transferred to an escrow account.   
     
     
         2 . The method of  claim 1 , further comprising notifying the second user that the value is held in the escrow account and conditions for release of the value to the second user. 
     
     
         3 . The method of  claim 1 , further comprising causing the value to be transferred to the second user from the escrow account after a predetermined period of time has passed without objection from the first user or the second user. 
     
     
         4 . The method of  claim 1 , further comprising canceling the transfer of value in response to at least one of the first user or the second user not affirming the action within a predetermined period of time. 
     
     
         5 . The method of  claim 1 , further comprising:
 receiving consent to transfer the value in the escrow account to the second user from both the first user and the second user; and   causing the value to be transferred from the escrow account to the second user.   
     
     
         6 . The method of  claim 1 , further comprising:
 receiving consent to transfer the value in the escrow account back to the first user; and   causing the value to be returned from the escrow account to the first user.   
     
     
         7 . The method of  claim 1 , wherein the causing the value indicated in the request to be transferred to the escrow account comprises debiting the user account of the first user in response to the receiving of the request at the networked system. 
     
     
         8 . The method of  claim 1 , further comprising:
 providing an option to the first user to cause the value to be transferred to the escrow account; and   receiving a selection of the option to cause the value to be transferred to the escrow account.   
     
     
         9 . The method of  claim 1 , wherein the non-monetary values comprises one or more selections from the group consisting of a voucher, points, a discount, a coupon, a certificate, frequent flyer miles, a credit, a debit, and barter points. 
     
     
         10 . A machine-readable medium having no transitory signals and storing instructions that, when executed by one or more processors of a machine, cause the machine to perform operations comprising:
 receiving, by a networked system, a request from a wallet application on a mobile device of a first user, the request indicating a transfer of a value to a second user, the value associated with a source from a plurality of sources associated with a user account of the first user, the plurality of values comprising monetary values and non-monetary values; and   causing the value indicated in the request to be transferred to an escrow account.   
     
     
         11 . The machine-readable medium of  claim 10 , further comprising notifying the second user that the value is held in the escrow account and conditions for release of the value to the second user. 
     
     
         12 . The machine-readable medium of  claim 10 , further comprising causing the value to be transferred to the second user from the escrow account after a predetermined period of time has passed without objection from the first user or the second user. 
     
     
         13 . The machine-readable medium of  claim 10 , further comprising canceling the transfer of value in response to at least one of the first user or the second user not affirming the action within a predetermined period of time. 
     
     
         14 . The machine-readable medium of  claim 10 , further comprising:
 receiving consent to transfer the value in the escrow account to the second user from both the first user and the second user; and   causing the value to be transferred from the escrow account to the second user.   
     
     
         15 . The machine-readable medium of  claim 10 , further comprising:
 receiving consent to transfer the value in the escrow account back to the first user; and   causing the value to be returned from the escrow account to the first user.   
     
     
         16 . The machine-readable medium of  claim 10 , wherein the causing the value indicated in the request to be transferred to the escrow account comprises debiting the user account of the first user in response to the receiving of the request at the networked system. 
     
     
         17 . The machine-readable medium of  claim 10 , further comprising:
 providing an option to the first user to cause the value to be transferred to the escrow account; and   receiving a selection of the option to cause the value to be transferred to the escrow account.   
     
     
         18 . The machine-readable medium of  claim 10 , wherein the non-monetary values comprises one or more selections from the group consisting of a voucher, points, a discount, a coupon, a certificate, frequent flyer miles, a credit, a debit, and barter points. 
     
     
         19 . A system comprising:
 one or more servers configured to:   receive a request from a wallet application on a mobile device of a first user, the request indicating a transfer of a value to a second user, the value associated with a source from a plurality of sources associated with a user account of the first user, the plurality of values comprising monetary values and non-monetary values; and   cause the value indicated in the request to be transferred to an escrow account.   
     
     
         20 . The system of  claim 19 , wherein the one or more servers are further configured to:
 provide an option to the first user to cause the value to be transferred to the escrow account; and   receive a selection of the option to cause the value to be transferred to the escrow account.