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Peer-to-peer financial transaction devices and methods

  • US 10,380,573 B2
  • Filed: 09/30/2008
  • Issued: 08/13/2019
  • Est. Priority Date: 09/30/2008
  • Status: Active Grant
First Claim
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1. A method for receiving a payment in a peer-to-peer transaction between a payee and a payor comprising:

  • determining, using a processor of a payee handheld electronic device, an amount of a payment to be requested from the payor in response to a first input provided by the payee to a peer-to-peer transaction application executed on the payee handheld electronic device by the processor;

    using the processor of the payee handheld device to cause an electronic payment request to be transmitted, via a near field communication-based wireless communication link between the payee handheld electronic device and the payor, from a communication interface of the payee handheld electronic device to the payor, wherein the electronic payment request is configured to indicate the requested payment amount to the payor;

    acquiring, via the near field communication-based wireless communication link, payment information provided by the payor, the payment information comprising a default payment account selected by the payor in response to the electronic payment request, and wherein acquiring the payment information comprises acquiring an image of a payment instrument and extracting payment information data from the acquired image;

    determining, using the processor of the payee handheld electronic device, a default crediting account for receiving the payment; and

    transmitting, via a wireless communication link that is different from the near field communication-based wireless communication link, a request from the payee handheld electronic device to obtain authorization for the payment of the requested payment amount from the payor to the payee, wherein transmitting the request to obtain authorization for the payment, comprises transmitting the default payment account and the default crediting account from the payee handheld electronic device to at least one external server that is separate from both the payee handheld electronic device and the payor handheld electronic device, the at least one external server being further configured to determine whether the default payment account and the default crediting account are compatible;

    receiving, from the external server, a notification indicating whether the default crediting account of the payee handheld electronic device and the default payment account of the payor handheld electronic device are compatible with one another;

    in accordance with a determination, based on the notification, that the default payment account and the default crediting account are compatible with one another;

    displaying an indication that the electronic payment request has been successfully completed; and

    in accordance with a determination, based on the notification, that the default payment account and the default crediting account are incompatible with one another;

    displaying an indication that the electronic payment request has not been successfully completed; and

    while displaying the indication that the electronic payment request has not been successfully completed, receiving, using an interface element of the payee handheld electronic device, a selection of an alternative crediting account that is compatible with the default payment account, wherein the at least one external server is further configured to authorize the payment from the default payment account and to credit the payment to the alternative crediting account if the payment is authorized.

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