Online funds transfer method
First Claim
Patent Images
1. A method for transferring funds related to a checkout process for a transaction initiated online between a user and a merchant, the method comprising steps of:
- determining a first bank account associated with the user;
receiving authorization from the user over a wide area network to pay the merchant from the first bank account;
determining a second bank account associated with the merchant;
initiating an electronic transfer between the first account and a second account that is related to the checkout process for the transaction.
7 Assignments
0 Petitions
Accused Products
Abstract
According to the invention, a process for transferring funds related to a checkout process for a transaction initiated online between a user and a merchant is disclosed. In one step, a first bank account associated with the user is determined. Authorization is received from the user over a wide area network to pay the merchant from the first bank account. A second bank account associated with the merchant is determined. An electronic transfer is initiated between the first account and a second account that is related to the checkout process for the transaction.
-
Citations
20 Claims
-
1. A method for transferring funds related to a checkout process for a transaction initiated online between a user and a merchant, the method comprising steps of:
-
determining a first bank account associated with the user;
receiving authorization from the user over a wide area network to pay the merchant from the first bank account;
determining a second bank account associated with the merchant;
initiating an electronic transfer between the first account and a second account that is related to the checkout process for the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
-
-
12. An online-accessible system for transferring funds in a checkout process for a transaction between a user and a merchant, the online-accessible system comprising:
-
a first interface to a first bank account associated with the user;
a second interface to a second bank account associated with the merchant;
a merchant web site benefiting from the checkout process; and
a funds transfer server that initiates an electronic transfer between the first bank account and the second bank account in relation to the checkout process, wherein an intermediate account between the first and second bank accounts is avoided in the electronic transfer. - View Dependent Claims (13, 14, 15, 16, 17)
-
-
18. A method for transferring funds in an online transaction between a first party and a second party, the method comprising steps of:
-
storing information on a plurality of accounts associated with the first party;
receiving selection of a first bank account from the plurality of accounts as possible choices;
determining a second bank account associated with the second party;
receiving authorization from the first party over a wide area network to pay the second party from the first bank account;
initiating an electronic transfer between the first bank account and the second bank account related to the online transaction. - View Dependent Claims (19, 20)
-
Specification