Virtual payment account

US10810580B2 · kind B2 · utility

Assignee

• International Business Machines Corporation · US

Inventors

• Sergio E. Ascencio Rios · Zapopan, MX
• Natalie Brooks Powell · Bolingbrook, US
• Yuk L. Chan · Rochester, US
• Apurv R. Johar · Dublin, US
• Heidi Lagares-Greenblatt · Jefferson Hills, US

Key dates

• Filing date: Oct 5, 2016
• Grant date: Oct 20, 2020
• Expiry date: Jul 7, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented method for an electronic funds transfer, the method including obtaining, using a processor system of a device, a virtual payment account associated with a merchant. The virtual payment account also being associated with a consumer account wherein an electronic payment medium issuer is a third party providing commercial funding on behalf of a consumer. Marketing information relating to the merchant associated with the virtual payment account is obtained. An electronic funds transfer is conducted utilizing an electronic payment medium signature associated with the electronic payment medium provided by the virtual payment account interfacing with an electronic terminal associated with the merchant. The virtual payment account and consumer account with information relating to the electronic funds transfer are updated.