Many-to-many correspondance:methods and systems for replacing interbank funds transfers
First Claim
1. A method of transferring a payment to a seller having an account at a first Financial Service Provider (FSP) from a buyer having an account at a second FSP, the first FSP owning a first account at the first FSP and the second FSP owning a second account at the second FSP, the method comprising the steps of:
- establishing a second correspondence account at the second FSP, the second correspondence account being owned by the first FSP;
debiting the payment from the buyer'"'"'s account and correspondingly crediting the payment to the second account;
debiting the payment from the second account and correspondingly crediting the payment to the second correspondence account, and sending a secure message to the first FSP, advising the first FSP that the payment has been transferred to the second correspondence account and requesting that funds corresponding to the transferred payment be credited to the seller'"'"'s account.
3 Assignments
0 Petitions
Accused Products
Abstract
By establishing a correspondence account in each Financial Service Provider (FSP) of a group of FSPs and a secure inter-FSP messaging mechanism, transfers of funds entirely within member FSPs (FSP 1, FSP may be combined with secure messaging to effectively transfer funds between buyers in one FSP (FSP 2) and sellers in another FSP (FSP 1) without actual transfer of funds between FSP'"'"'s.
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Citations
40 Claims
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1. A method of transferring a payment to a seller having an account at a first Financial Service Provider (FSP) from a buyer having an account at a second FSP, the first FSP owning a first account at the first FSP and the second FSP owning a second account at the second FSP, the method comprising the steps of:
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establishing a second correspondence account at the second FSP, the second correspondence account being owned by the first FSP;
debiting the payment from the buyer'"'"'s account and correspondingly crediting the payment to the second account;
debiting the payment from the second account and correspondingly crediting the payment to the second correspondence account, and sending a secure message to the first FSP, advising the first FSP that the payment has been transferred to the second correspondence account and requesting that funds corresponding to the transferred payment be credited to the seller'"'"'s account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method of transferring a payment to a seller having an account at a first Financial Service Provider (FSP) from a buyer having an account at a second FSP, comprising the steps of:
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establishing a second correspondence account at the second FSP, the second correspondence account being owned by the first FSP;
debiting the payment from the buyer'"'"'s account and correspondingly crediting the second correspondence account, and sending a secure message to the first FSP, advising the first FSP that the payment has been transferred to the second correspondence account and requesting that funds corresponding to the transferred payment be credited to the seller'"'"'s account. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A method of transferring a payment to a seller having an account at a first Financial Service Provider (FSP) from a buyer having an account at a second FSP, the second FSP owning a second account at the second FSP, the method comprising the steps of:
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establishing a first correspondence account at the first FSP, the first correspondence account being owned by the second FSP;
debiting the payment from the buyer'"'"'s account and correspondingly crediting the payment to the second account, and sending a secure message to the first FSP, advising the first FSP to debit the payment from the first correspondence account and correspondingly credit the payment to the seller'"'"'s account. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
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25. A method of transferring a payment through a Financial Service Provider (FSP) to a seller having an account at a first FSP from a buyer having an account at a second FSP, the financial service provider maintaining a first account for the first FSP and a second account for the second FSP, comprising the steps of:
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debiting the payment from the buyer'"'"'s account;
sending a first secure message to the financial service provider, instructing the financial service provider to debit the payment from the second account and correspondingly credit the payment to the first account;
receiving a second secure message from the first FSP, advising the second FSP that the payment has been transferred to the seller'"'"'s account. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32)
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33. A method for an organization to intermediate between a buyer transferring a payment from a buyer account at a first FSP to a seller account at a second FSP, the organization maintaining a first account for the first FSP and a second account for the second FSP, comprising the steps of:
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receiving a first secure message from a first FSP, the first secure message instructing the financial service provider to debit the payment from the first account and correspondingly credit the payment to the second account;
after receiving the first secure message, debiting the payment from the first account and correspondingly crediting the payment to the second account, and sending a second secure message to the second FSP, advising the second FSP of the crediting of the payment to the second account and instructing the second FSP to correspondingly credit the payment to the seller'"'"'s account. - View Dependent Claims (34, 35, 36, 37, 38)
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39. A method for a card issuing company to transfer a payment from a buyer having a buyer account at a first FSP to a seller having a seller account at a second FSP, each of the first and second FSPs maintaining a correspondence account for the card issuing company, comprising the steps of:
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debiting the payment from the buyer account and correspondingly crediting the payment to the card issuing company'"'"'s correspondence account at the first FSP;
sending a first secure message to the second FSP, the secure message advising the second FSP that the payment has been credited to the card issuing company'"'"'s correspondence account at the first FSP;
receiving a second secure message from the second FSP, the second secure message advising the first FSP that the payment has been debited from the card issuing companys correspondence account at the second FSP and credited to the seller account.
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40. A method for a card issuing company to transfers a payment from a buyer having a buyer account at a first FSP to a seller having a seller account at a second FSP, each of the first and second FSPs maintaining a correspondence account for the card issuing company, comprising the steps of:
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receiving a first secure message from the first FSP, the secure message indicating that the payment has been debited from the buyer account and credited to the card issuing company'"'"'s correspondence account in the first FSP;
responsive to receiving the first secure message, debiting the payment from the card issuing company'"'"'s correspondence account in the second FSP and correspondingly crediting the payment to the seller account, sending a second secure message to the first FSP, the secure message advising the first FSP that the payment has been credited to the seller account.
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Specification