Real-time transactions for a virtual account
US9934493B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 10, 2014 |
| Grant date | Apr 3, 2018 |
| Priority date | — |
| Expiry date | Jul 26, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/401
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
According to some embodiments, a system comprises one or more processors associated with a financial institution. The financial institution provides a financial account for a user. The system also comprises a dedicated interface between the financial institution and an electronic payment service external to the financial institution. The electronic payment service provides a virtual account for the user. The one or more processors are configured to determine when the user requests a financial transaction to transfer funds from a source to a destination (one of which corresponds to the virtual account), validate the financial transaction based on data received from the electronic payment service over the dedicated interface, and transfer the funds to the destination. The funds are transferred prior to hard-posting such that the funds become available at the destination in real-time while the financial transaction is pending.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.