System and method for performing peer to peer transfers

US11978032B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Mikhail Blinov · Dublin, IE
• Dawid Nowak · Dublin, IE
• Vladut Druta · Dublin, IE
• Cian Burns · Dublin, IE
• Aidan Cunnion · Dublin, IE

Key dates

• Filing date: Oct 9, 2018
• Grant date: May 7, 2024
• Expiry date: Mar 12, 2041

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/405
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In a first party mode, a peer-to-peer transfer application: authenticates the party to an identity server; obtains an amount of funds to be transferred; causes the identity server to establish a session for storing information relating to the transaction; provides the amount to the identity server; provides account information for the party to the identity server; obtains a token unique to the transaction; obtains contact information for the counterparty; and provides a message including the token to the counterparty to indicate the transaction has been initiated. In a second counterparty mode, the application: receives a message including a token for a transaction from a first party; authenticates the counterparty; determines the counterparty wishes to complete the transaction; and uses the token to provide account information for the counterparty to the identity server for storing in association with an established session and to enable the identity server to complete the transaction.