System and method for transferring funds
US11810087B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 16, 2020 |
| Grant date | Nov 7, 2023 |
| Priority date | — |
| Expiry date | Aug 16, 2040 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems, methods for payment processing performed by one or more processors of a payment service computer system. One method includes receiving a fund transfer request from a recipient identifying a sender and a fund transfer amount. The method further includes identifying a financial institution associated with the sender. The method further includes determining the financial institution is not associated with the payment system. The method further includes selecting an authentication process for the recipient based on a level of risk. The method further includes performing the authentication process based on the level of risk, the authentication process including prompting the sender to provide information regarding the sender. The method further includes verifying accuracy of the information regarding the sender by scraping the information maintained by the financial institution using the access credentials and sending the fund transfer amount to the recipient.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.