Money transfer transactions via pre-paid wireless communication devices

Abstract

Systems and methods for performing money transfer transactions via a wireless communication device, such as a cellular phone, are provided. The wireless communication device may be associated with, or automatically linked to, at least one payment source account. The wireless communication device may be associated with at least one pre-paid payment source account. In one example, the wireless communication device is a pre-paid cellular phone and/or is associated with a pre-paid money transfer account. The wireless communication device may access a pre-directed phone number, e.g., *55, to access a money transfer service provider. Once connected to a money transfer service provider, a user may initiate a money transfer via the wireless device, which is optionally paid to a payee in-person at a money transfer service provider location.

What is claimed is: 
     
         1 . A method comprising:
 receiving, at a computer system, and from a communication network, a request for a money transfer transaction from a user via a mobile device communicating on the communication network, wherein:
 the mobile device is associated with at least one source account; 
 the mobile device is associated with a service account maintained by a wireless communication provider; and 
 the request includes a biometric reading of a biometric characteristic of the user; 
   receiving, at the computer system, money transfer instructions from the user via the mobile device, wherein the money transfer instructions include at least an amount and a recipient;   receiving, at the computer system, a biometric record associated with the service account from the wireless communication provider;   verifying, with the computer system, the status of the at least one source account and determining if the amount may be charged against the source account;   verifying, with the computer system, a velocity of transactions per time does not exceed a particular amount for the user;   causing, with the computer system, validation of the money transfer transaction to occur when the velocity of transactions per time does exceed the particular amount; wherein validation comprises:
 transmitting, from the computer system, to a failure risk scoring service system, information regarding the money transfer transaction; and 
 receiving, at the computer system, from the failure risk scoring service system, a score indicative of a risk of chargeback assessment; 
   authorizing, with the computer system, the money transfer transaction if the at least one source account may be charged the amount and if the biometric reading matches the biometric record;   declining, with the computer system, the money transfer transaction if the at least one credit account may not be charged the amount or the biometric reading does not match the biometric record;   charging, with the computer system, the at least one source account at least a portion of the amount if the money transfer transaction is authorized; and   transmitting information concerning the money transfer transaction from the computer system to a money transfer facilitator associated with the computer system for completion of the money transfer transaction via provision of funds to the recipient if the money transfer transaction is authorized.