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Method and system for processing internet payments

  • US 20020077978A1
  • Filed: 06/21/2001
  • Published: 06/20/2002
  • Est. Priority Date: 06/22/2000
  • Status: Active Grant
First Claim
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1. A system for effectuating electronic payments, the system comprising:

  • at least one account system operated by a first institution, the at least one account system maintaining a plurality of electronic payment accounts for a plurality of customers of a first bank, at least one of the plurality of customers having a demand deposit account at the first bank;

    a bank interface coupled to the at least one account system and coupled to the first bank, the bank interface transmitting and receiving financial information related to the demand deposit account of the at least one customer and related to the electronic payment account of the at least one customer; and

    a customer interface coupled to the at least one account system, the customer interface providing an interface for the plurality of customers to the at least one account system, the customer interface accepting a command from a first customer to transfer funds from the first customer'"'"'s electronic payment account to an electronic payment account of another customer, the customer interface transferring the command to the at least one account system which effectuates the commanded transfer of funds.

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