System and method for transferring funds
US10395223B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 1, 2013 |
| Grant date | Aug 27, 2019 |
| Priority date | — |
| Expiry date | Oct 27, 2033 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/405
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for facilitating transfer of funds from a sender to a recipient, the method comprising: receiving a funds transfer request from the sender having a first account at a first financial institution, determining that the recipient is not registered with the payment network, transmitting an invitation to the recipient to join the payment network, receiving the token from the recipient in response to the invitation, collecting identifying information from the recipient including information, including an account number, regarding the second account, creating a first record for the recipient in a database of registered users, and creating a second record for the recipient in an out-of-network database, the second record including the account number for the second account.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.