System and method for transferring funds
US10592877B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 28, 2015 |
| Grant date | Mar 17, 2020 |
| Priority date | — |
| Expiry date | Oct 21, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for payment processing comprises receiving sender information, receiving a fund transfer request that includes an identifier for a recipient, accessing an information directory based on the identifier to obtain account information for the recipient, and sending funds according to the fund transfer request to the recipient. The identifier may be in the form of non-sensitive/publicly available information, such as an E-mail address, a phone number, or other information. The information directory can correlate the identifier with a recipient owned bank account. The fund transfer may occur from two accounts within a bank or may occur from bank accounts at different banks.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.