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Methods and Systems For Managing Payment Sources in a Mobile Environment

  • US 20080010215A1
  • Filed: 07/06/2006
  • Published: 01/10/2008
  • Est. Priority Date: 07/06/2006
  • Status: Active Grant
First Claim
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34. A mobile financial transaction system operative for allowing user selection of a payment source for use in making a mobile financial payment using a mobile device connected for communications with a wireless network, comprising the steps of:

  • a user mobile device coupled for wireless communications with a mobile financial transaction system (MFTS), the mobile device operative for wirelessly receiving summarized payment source information from the MFTS, displaying one or more selectable accounts for making the payment, receiving user input corresponding to selection of a payment source for making a payment, generating a mobile payment instruction to the MFTS indicating a payment to make, and wirelessly communicating the mobile payment instruction to the MFTS;

    a mobile financial transaction system (MFTS) database associated with the MFTS for storing user information, payment to make information associated with the one or more payees, and payment source information associated with at least one account associated with at least one financial service provider of a user;

    a mobile financial transaction system (MFTS) computer system for maintaining the MFTS database and conducting electronic communications between entities involved in mobile financial payments; and

    MFTS software operative on the MFTS computer system comprising program code for carrying out the computer-implemented steps of;

    providing information to a user mobile device corresponding to a payment to make;

    providing information to a user mobile device corresponding to a plurality of accounts available to the user as a payment source for use in connection with making the payment;

    in response to receipt of a mobile payment instruction from a mobile device, retrieving information from the MFTS database corresponding to an identified payee for receiving the payment indicated by the payment instruction and information corresponding to the selected payment source identified in the payment instruction;

    generating an MFTS payment instruction to a payment instruction recipient, the MFTS payment instruction including at least an amount, information corresponding to the identified payee, and information indicating the selected payment source; and

    communicating the MFTS payment instruction from the MFTS to the payment instruction recipient,whereby the payment instruction recipient, in response to receipt of the MFTS payment instruction, effects a payment to the identified payee utilizing the selected payment source.

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