FIELD OF THE INVENTION

This invention relates to a deposit system and method and more particularly, but not exclusively, to a deposit system and method for banking and retrieving mobile phone airtime or data bundles or utilities such as gas, water and/or electricity.

BACKGROUND TO THE INVENTION

Utilities are made available by the authorities, or in some cases, private persons or entities. Utilities have traditionally been made available on contract or on a post-payment basis. In recent years, utilities have also been provided on a pre-paid basis to make it easier for suppliers and users to manage their finances surrounding the supply of utilities. Users might prefer to purchase enough utilities upfront for a period (normally monthly) to ensure that they do not run out of utilities during the period. If they have enough or excess utilities during the period or have enough utilities left over at the end of the period, they must continue to use it. There is no way to transfer the utilities to another or to deposit or save it in some manner.

Airtime sales are a substantive industry, especially in developing countries. Most airtime sales relate to small denominations. People buying small amounts of a time at a time might require airtime in an emergency but might no longer have sufficient funds to purchase additional airtime. It would be convenient if such persons would have some airtime saved up for emergency use. Some people might be reluctant to travel to foreign countries and use roaming services whilst having airtime loaded on their mobile telephones. They might prefer to store the airtime in a safe location for use upon their return. Still furthermore, in some instances, especially in remote locations, it might not be possible to purchase airtime such as, for example, from a shop or even by using one's mobile telephone. It would then be convenient to have airtime stored in a safe location which could then be accessed if needed. Many prepaid mobile telephone subscribers prefer not to take their telephone in for repairs whilst the telephone is loaded with airtime. It is however not possible to remove, block or otherwise store airtime once loaded onto a phone for use only once the telephone is received back. Some subscribers may prefer to purchase enough airtime up front, for example, at the beginning of the month when they have sufficient funds from having received a salary payment or the like. However, having access to a month's supply of a time might not be convenient or desirable. It would have been convenient if some of such a time could have been stored in a safe location until it is required. In this way, airtime already paid for would be readily available even if one's funds have been depleted.

In general, when one has purchased products or services such as airtime or utilities, you are stuck with it unless you sell it to a third party. You may pawn it, but then you would receive money or some value in return. It would be convenient if one could deposit the goods or services for a desired period and receive it back when desired. OBJECT OF THE INVENTION

It is an object of this invention to provide a deposit system and method which, at least partially, alleviates some of the above-mentioned difficulties.

SUMMARY OF THE INVENTION

In accordance with this invention there is provided a deposit system comprising a deposit institution having transceiver means for receiving a request for the deposit of a product or service from a user having an identifier and a storage means for storing the good or services, corresponding to the identifier.

The request may include an indication of the amount of goods and/or services to be deposited.

There is provided for the transceiver to transmit a code to the user. A still further feature of the invention provides for the transceiver to receive a request to withdraw airtime.

This invention extends to a deposit method comprising the steps of:

receiving a request from a user for the deposit of specified good or services; - receiving an identifier from the user;

storing the good or services corresponding to the identifier; and transmitting a code to the user. The request may include an indication of the amount of good or services.

A record of the storage of the goods or services may be kept and may be kept in a storage means.

There is provided for the request from the user to be received from the user's mobile telephone.

The request from a user may be in the form of a SMS, USSD or other message; alternatively over the Internet.

The message received from the user includes information relating to the amount of good or services to be stored.

A still further feature of the invention provides for the identifier to be the user's mobile telephone number.

A yet further feature of the invention provides for the code to be a personal identification number sent to the user for later use.

A further step of the invention provides for receiving a withdrawal request for the withdrawal of products or services previously stored. The withdrawal request includes the code previously sent to the user.

There is provided for the withdrawal request to be for the total amount products or services stored with the deposit institution or for the withdrawal of part of the total amount of products or services stored in relation to that user.

There may also be provided for the product or services stored to earn interest.

Still furthermore, there is provided for the airtime stored to be subject to an expiry date.

It will be understood that the term "air time" includes normal voice a time as well as data.

All deposit and withdrawal request may be in person, physical, wirelessly, such as over the Internet or in any other manner.

These and other features of invention are described in more detail below.

BRIEF DESCRIPTION OF THE DRAWING

One embodiment of the invention is described below, by way of example only, and with reference to the drawing which shows a schematic diagram of an airtime deposit system and method. DETAILED DESCRIPTION OF THE DRAWING

With reference to the drawing, a deposit system and method is generally indicated by reference numeral 1. In the embodiment described herein, reference is made to the deposit of air time. However, those skilled in the art would appreciate that the example is equally applicable to any goods or services including utilities such as gas, water or electricity, especially where such utilities are purchased on a pre-paid basis. The system and method 1 includes a mobile service provider 2. The mobile service provider 4 has a direct communication link 4 with a mobile telephone 3 as well as an alternative communication link in the form of the Internet 5 between the mobile service provider 2 and the mobile telephone 3. It will be appreciated by those skilled in the art that many other communication links are possible without departing from the scope of the invention. For example, a user of the mobile telephone 3 may purchase air time directly and physically from the mobile service provider 2 or through a third-party outlet that acts as an agent or as a reseller of airtime on behalf of the mobile service provider.

The mobile telephone 3 may also communicate via communication links 6 or 7 with an airtime bank 8. Again, a communication link 7 may be a direct wireless link and the links 6 may again be via the Internet as is well known in the art. Further alternatively, the user of the mobile telephone 3 may attend in person at the airtime bank 8 or at outlets acting as agents for the airtime bank 8. In use, a user of the mobile telephone 3 purchases airtime from the mobile service provider 2 via the links as described above or via alternative links. The user of the mobile phone 3 may now decide to bank the airtime so purchased, or to bank a portion thereof. The user of the mobile telephone 3 may now request the airtime bank 8 to take a deposit of the airtime or part thereof. The airtime bank may recognize the user via the mobile telephone number of the mobile telephone 3 and make a deposit entry in relation to that mobile telephone number. The airtime bank 8 will also then generate a code in the form of a personal identification number which would then be provided to the user of the mobile telephone 3. This code will be provided via the communication links 6 or 7 or physically to the user of the mobile telephone 3.

At a future date, when the user of the mobile telephone 3 requires to withdraw the banked airtime, they could do so by approaching the airtime bank 8 and providing the personal identification number as well as the amount of airtime to be withdrawn. Again, this withdrawal request could be transmitted via communication links 6 or 7 or by physically attending at the airtime bank 8.

In the manner described above it would be convenient for a person to bank purchased air time. The airtime is safe in the hands of the bank and may also be withdrawn at any time in the future.

It will be appreciated by those skilled in the art that the invention is not limited to the precise details as described or shown herein and that many other embodiments are possible without departing from the scope of the invention. Specifically, whilst reference has been made to the purchase, deposit and withdrawal of air time, the method and system described herein will equally apply to many goods and services especially goods and services bought on a pre-paid basis such as utilities such as gas, water or electricity. In this case the mobile service provider 2 would be a utilities provider and the user could purchase the utilities online using any appropriate communication device such as a computer or smart phone. Alternatively the user may purchase the utilities directly at the utilities provider and receive code for activating the utilities for a set amount of supply or for a set period, as is known in the art.

BREDENKAMP ATTORNEYS AGENTS/ATTORNEYS FOR THE APPLICANT