N to n money transfers

Abstract

Various methods, systems, and devices are described for performing money transfers to one or more payees from one or more payors using a money transfer system. A party, such as a payor, a payee, or a third party may create a set of payee rules. The same or a different party may also create a set of payor rules. The payee rules may comprise conditions which, when satisfied, permit a payee to receive funds from a funds pool. The payor rules may comprise conditions which, when satisfied, permit a payor to provide funds to the funds pool. The money transfer system may determine whether requests from a payor and a payee comply with the payor rules and the payee rules, respectively. Based on the determination, the payor and/or payee may be permitted to complete their requested transaction, or their transaction may be denied.

What is claimed: 
     
         1 . A money transfer system comprising:
 a processing unit including one or more processors;   one or more storage devices storing a rules database which includes payee rules and payor rules; and   memory communicatively connected with and readable by the processing unit, the memory containing instructions that, when executed by the processing unit, cause the processing unit to perform operations comprising:
 receiving specifications of one or more payee rules and/or of one or more payor rules; 
 storing, in the rules database, payee rules that identify conditions under which payees are permitted to receive funds from a funds pool and payor rules that identify conditions under which payors are permitted to provide funds to the funds pool, where one or both the payee rules and the payor rules are based at least in part on the received specifications; 
 receiving, from a payor computing device in communication with the processing unit, a first request associated with a payor to provide a first amount of funds into the funds pool; 
 determining whether or not the first request complies with at least one of the payor rules by comparing a condition associated with the payor with a characteristic of the first request; 
 in response to determining that the first request complies with the condition associated with the payor, initiating an electronic transfer of the first amount of funds from the payor to the funds pool; 
 receiving, from a payee computing device in communication with the processing unit, a second request associated with a payee for a second amount of funds from the funds pool; 
 determining whether or not the second request complies with at least one of the payee rules by comparing a condition associated with the payee with a characteristic of the second request; and 
 in response to determining that the second request complies with the condition associated with the payee, initiating an electronic transfer of the second amount of funds to the payee from the funds pool. 
   
     
     
         2 . The money transfer system as recited in  claim 1 , the operations further comprising using the specifications to create or modify at least one rule of the payee rules or the payor rules. 
     
     
         3 . The money transfer system as recited in  claim 1 , where the specifications are received from one or more remote devices that are remote from the processing unit and the one or more storage devices. 
     
     
         4 . The money transfer system as recited in  claim 3 , where at least one of the one or more remote devices corresponds to a party delegated to create the payee rules and/or the payor rules. 
     
     
         5 . The money transfer system as recited in  claim 3 , where at least one of the one or more remote devices corresponds to a party delegated to modify the payee rules and/or the payor rules. 
     
     
         6 . The money transfer system as recited in  claim 1 , where the specifications are received from the payor computing device or another computing device associated with the payor. 
     
     
         7 . The money transfer system as recited in  claim 1 , where the specifications are received from the payee computing device or another computing device associated with the payee. 
     
     
         8 . A method comprising:
 receiving, by a processing unit including one or more processors, specifications of one or more payee rules and/or of one or more payor rules;   storing, in the rules database, payee rules that identify conditions under which payees are permitted to receive funds from a funds pool and payor rules that identify conditions under which payors are permitted to provide funds to the funds pool, where one or both the payee rules and the payor rules are based at least in part on the received specifications;   receiving, by the processing unit from a payor computing device in communication with the processing unit, a first request associated with a payor to provide a first amount of funds into the funds pool;   determining, by the processing unit, whether or not the first request complies with at least one of the payor rules by comparing a condition associated with the payor with a characteristic of the first request;   in response to determining that the first request complies with the condition associated with the payor, initiating, by the processing unit, an electronic transfer of the first amount of funds from the payor to the funds pool;   receiving, by the processing unit from a payee computing device in communication with the processing unit, a second request associated with a payee for a second amount of funds from the funds pool;   determining, by the processing unit, whether or not the second request complies with at least one of the payee rules by comparing a condition associated with the payee with a characteristic of the second request; and   in response to determining that the second request complies with the condition associated with the payee, initiating, by the processing unit, an electronic transfer of the second amount of funds to the payee from the funds pool.   
     
     
         9 . The method as recited in  claim 8 , the method further comprising using the specifications to create or modify at least one rule of the payee rules or the payor rules. 
     
     
         10 . The method as recited in  claim 8 , where the specifications are received from one or more remote devices that are remote from the processing unit. 
     
     
         11 . The method as recited in  claim 10 , where at least one of the one or more remote devices corresponds to a party delegated to create the payee rules and/or the payor rules. 
     
     
         12 . The method as recited in  claim 10 , where at least one of the one or more remote devices corresponds to a party delegated to modify the payee rules and/or the payor rules. 
     
     
         13 . The method as recited in  claim 8 , where the specifications are received from the payor computing device or another computing device associated with the payor. 
     
     
         14 . The method as recited in  claim 8 , where the specifications are received from the payee computing device or another computing device associated with the payee. 
     
     
         15 . One or more non-transitory, computer-readable storage media having stored thereon instructions that, when executed by one or more processing devices, cause the one or more processing device to perform operations comprising:
 processing specifications of one or more payee rules and/or of one or more payor rules;   storing, in the rules database, payee rules that identify conditions under which payees are permitted to receive funds from a funds pool and payor rules that identify conditions under which payors are permitted to provide funds to the funds pool, where one or both the payee rules and the payor rules are based at least in part on the received specifications;   processing a first request from a payor computing device in communication with the processing unit, the first request associated with a payor to provide a first amount of funds into the funds pool;   determining whether or not the first request complies with at least one of the payor rules by comparing a condition associated with the payor with a characteristic of the first request;   in response to determining that the first request complies with the condition associated with the payor, initiating an electronic transfer of the first amount of funds from the payor to the funds pool;   processing a second request from a payee computing device in communication with the processing unit, the second request associated with a payee for a second amount of funds from the funds pool;   determining whether or not the second request complies with at least one of the payee rules by comparing a condition associated with the payee with a characteristic of the second request; and   in response to determining that the second request complies with the condition associated with the payee, initiating an electronic transfer of the second amount of funds to the payee from the funds pool.   
     
     
         16 . The one or more non-transitory, computer-readable storage media as recited in  claim 15 , the operations further comprising using the specifications to create or modify at least one rule of the payee rules or the payor rules. 
     
     
         17 . The one or more non-transitory, computer-readable storage media as recited in  claim 15 , where the specifications are received from one or more remote devices that are remote from the processing unit. 
     
     
         18 . The one or more non-transitory, computer-readable storage media as recited in  claim 17 , where at least one of the one or more remote devices corresponds to a party delegated to create the payee rules and/or the payor rules. 
     
     
         19 . The one or more non-transitory, computer-readable storage media as recited in  claim 17 , where at least one of the one or more remote devices corresponds to a party delegated to modify the payee rules and/or the payor rules. 
     
     
         20 . The one or more non-transitory, computer-readable storage media as recited in  claim 15 , where the specifications are received from the payor computing device or another computing device associated with the payor.