System and method for optimized funding of electronic transactions
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Accused Products
Abstract
The invention provides systems and methods for managing transactions. The system includes a data input portion that communicates first information regarding a payment request, as well as a decision reference data store for communicating second information regarding parameters for use in determining a payment option for the payment request. The system also includes a processor. The processor inputs the first information and the second information. Then, the processor selectably determines the payment option to direct a transmission of funds from at least one payment source to at least one payee account based on an optimization determination performed by the processor. The optimization determination may provide savings to the institution processing the transaction, or alternatively, may provide savings to the customer initiating the transaction, for example.
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Citations
85 Claims
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1-57. -57. (canceled)
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58. A method in a data processing system having a program, the data processing system connected to at least one of a plurality of remote data processing systems via a network, the method comprising the steps performed by the program of:
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receiving from a user a request to execute at least one financial transaction with at least one of a plurality of parties, each of the parties corresponding to one of the data processing systems;
obtaining real-time financial information relating to the financial transaction; and
confirming that the financial transaction can be executed with at least one party. - View Dependent Claims (59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78)
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79. A computer-readable medium containing instructions that cause a data processing system to perform a method, the data processing system being connected to at least one of a plurality of remote data processing systems via a network, the method comprising the steps performed by the program of:
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receiving from a user a request to execute at least one financial transaction with at least one of a plurality of parties, each of the parties corresponding to one of the data processing systems;
obtaining real-time financial information relating to the financial transaction; and
confirming that the financial transaction can be executed with at least one party.
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80. A data processing system connected to at least one of a plurality of remote data processing systems via a network, the data processing system comprising:
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means for receiving from a user a request to execute at least one financial transaction with at least one of a plurality of parties, each of the parties corresponding to one of the data processing systems;
means for obtaining real-time financial information relating to the financial transaction; and
means for confirming that the financial transaction can be executed with at least one party.
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81. A method of conducting financial transactions over a computerized network, comprising:
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receiving a request for a financial transaction from a user;
obtaining real-time financial information on the user'"'"'s account; and
confirming that said financial transaction can be executed. - View Dependent Claims (82, 83, 84, 85)
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Specification