Money Movement Network Hub System
First Claim
1. An electronic payment system, comprising:
- a financial management system communicatively coupled to a plurality of financial institutions (FIs);
a database configurable to store information regarding the plurality of FIs and information comprising a plurality of users, wherein each of the plurality of users owns accounts at least one of the FIs;
a payment service system coupled to the plurality of FIs, the payment service system configurable to use information stored in the database to perform payment services, wherein performing comprises,receiving a request for a payment transaction from a first user, wherein the request comprises a request to make a payment and a request for payment to be made;
receiving an identification of a second user from the first user, wherein the second user comprises a recipient of the payment or a payer of the payment, and wherein the identification of the second user is associated in the database with at least one of the plurality of FIs; and
sending a notification of the request to the second user based on the identification, including sending the request to multiple FIs when the identification is associated with more than one FI.
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Accused Products
Abstract
Embodiments of the invention include an electronic payment system that allows person-to-person (P2P) payments and requests for payment, consumer-to-consumer (C2C) payments and requests for payment, and use of a P2P service by a business which in turn offers the service to its customers for making payments and requests for payment. The system and service allow users to make payments from their existing financial accounts to anyone, anywhere without funding a special account and managing a third-party relationship separate from the relationship the user has with the financial institution. The service further allows users to receive payments without registering for a third-party service. In embodiments, the service is available as an integrated banking service alongside current financial institution electronic banking services already used by customers. A bank customer can use the payment service directly from within a bank or bank web site.
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Citations
40 Claims
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1. An electronic payment system, comprising:
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a financial management system communicatively coupled to a plurality of financial institutions (FIs); a database configurable to store information regarding the plurality of FIs and information comprising a plurality of users, wherein each of the plurality of users owns accounts at least one of the FIs; a payment service system coupled to the plurality of FIs, the payment service system configurable to use information stored in the database to perform payment services, wherein performing comprises, receiving a request for a payment transaction from a first user, wherein the request comprises a request to make a payment and a request for payment to be made; receiving an identification of a second user from the first user, wherein the second user comprises a recipient of the payment or a payer of the payment, and wherein the identification of the second user is associated in the database with at least one of the plurality of FIs; and sending a notification of the request to the second user based on the identification, including sending the request to multiple FIs when the identification is associated with more than one FI. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. An electronic payment system, comprising:
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a financial management system communicatively coupled to a plurality of financial institutions (FIs); a database configured to store information regarding the plurality of FIs and information comprising a plurality of users, wherein each of the plurality of users owns accounts at least one of the FIs; a payment service system coupled to the plurality of FIs, the payment service system configurable to use information stored in the database to perform payment services, wherein performing comprises, receiving a request for a payment transaction from a first user, wherein the request comprises a request to make a payment and a request for payment to be made; receiving an identification of a second user from the first user, wherein the second user comprises a recipient of the payment or a payer of the payment; and sending a notification of the request to the second user based on the identification, the notification comprising a link to a user interface of the payment service system; receiving input from the second user through the user interface in response to the notification, including information regarding an FI at which the second user has an account and which the second user chooses to participate in the payment transaction. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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25. A system comprising:
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a financial management system coupled to a network, the financial management system comprising, a database configurable to store information regarding a plurality of financial institutions (FIs) coupled to the network and information comprising a plurality of users, wherein each of the plurality of users owns accounts at least one of the FIs; and a payment service system coupled to the plurality of FIs, the payment service system configurable to use information stored in the database to perform payment services, wherein performing comprises, associating an identification of a user with each of the FIs at which the user owns accounts, wherein more than one user may have an identical identification at a same FI; receiving a requests for a payment transaction, wherein the request is originated by a first party to the requested payment transaction through one of a user interface of the financial management system and a user interface of one of the plurality of FIs, wherein the request includes an identification of a second party to the requested payment transaction; and based on the request, notifying the second party of the request. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40)
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Specification