PAYMENT TRANSACTIONS USING PAYEE ACCOUNT ALIASES

• US 20110010292A1
• Filed: 09/13/2010
• Published: 01/13/2011
• Est. Priority Date: 11/29/2007
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Griggs, Christopher R., Bajaj, Hitesh, Brown, Douglas G., Giordano, Joseph A., Vo-Dinh, Jade M.
• Application Number:
  US12/881,071
• Publication Number:
  US 20110010292A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/229 Hierarchy of users of accounts
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Embodiments of the invention provide a system and method for using aliases, such as mobile telephone numbers, email addresses, and social networking identifications, to identify a payment recipient'"'"'s account involved in a payment transaction. Some embodiments of the method include: (1) receiving a payment request from a payment sender via a communication from a remote device, where the payment request includes an alias, and where the alias is not an account number; (2) using a processor to identify a payment recipient'"'"'s financial account based at least partially on the alias; and (3) transferring funds from the payment sender'"'"'s account to the payment recipient'"'"'s account. Identifying the payment recipient'"'"'s financial account based on the alias may include accessing a memory device having a data repository stored therein that maps each of a plurality of aliases back to a financial account number, and then using the data repository in combination with the alias to identify the payment recipient'"'"'s financial account number.

Claims

1. A method comprising:

receiving a payment request from a payment sender via a communication from a remote device, wherein the payment request comprises an alias, wherein the alias is not a financial account number, and wherein the payment sender is associated with a payment sender'"'"'s financial account;

using a processor to identify a payment recipient'"'"'s financial account based at least partially on the alias; and

transferring funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

2. The method of claim 1, wherein the alias comprises an email address.

3. The method of claim 1, wherein the alias comprises a telephone number.

4. The method of claim 1, wherein the alias comprises a mobile telephone number.

5. The method of claim 1, wherein the alias comprises a social networking identification.

6. The method of claim 1, wherein the payment recipient'"'"'s financial account is associated with a payment recipient, and wherein the alias comprises a unique identifier used generally by the public to communicate with the payment recipient.

7. The method of claim 1, wherein using the processor to identify the payment recipient'"'"'s financial account based at least partially on the alias comprises:

accessing a memory device comprising a data repository that maps a plurality of aliases back to one or more financial accounts; and

using the data repository in combination with the alias to identify the payment recipient'"'"'s financial account.

8. The method of claim 1, wherein using the processor to identify the payment recipient'"'"'s financial account based at least partially on the alias comprises:

accessing a memory device comprising a data repository that maps each of a plurality of aliases back to a financial account number; and

using the data repository in combination with the alias to identify the payment recipient'"'"'s financial account number.

9. The method of claim 1, further comprising:

using the alias to contact an entity associated with the alias; and

providing the entity with information about the payment request.

10. The method of claim 9, wherein the alias comprises a telephone number, email address, or social networking identification, and wherein using the alias to contact the entity associated with the alias further comprises:

using the telephone number, email address, or social networking identification to send a communication regarding the payment request.

11. The method of claim 9, wherein the entity comprises a payment recipient associated with the payment recipient'"'"'s financial account.

12. The method of claim 9, wherein the entity comprises a person.

13. The method of claim 9, wherein the entity comprises a merchant.

14. The method of claim 1, wherein the payment recipient'"'"'s financial account comprises a bank account.

15. The method of claim 1, wherein the payment sender'"'"'s financial account comprises a bank account.

16. The method of claim 1, wherein the payment recipient'"'"'s financial account comprises a peer-to-peer or peer-to-merchant sub-account.

17. The method of claim 1, wherein the payment sender'"'"'s financial account comprises a peer-to-peer or peer-to-merchant sub-account.

18. The method of claim 1, wherein transferring funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account comprises:

initiating an Automated Clearing House (ACH) transfer of funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

19. The method of claim 1, wherein transferring funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account comprises:

initiating a direct account-to-account transfer of funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

20. The method of claim 19, wherein the direct account-to-account transfer of funds comprises a substantially real-time transfer that does not use an ACH payment network, or a credit or debit card payment network.

21. The method of claim 1, further comprising:

registering the alias by receiving the alias from an entity and mapping, in a memory device, the alias back to the entity'"'"'s financial account.

22. The method of claim 21, wherein registering the alias further comprises:

verifying that the alias is associated with the entity.

23. The method of claim 22, wherein the alias comprises a telephone number, email address, or social networking identification, and wherein verifying that the alias is associated with the entity comprises initiating a communication with the entity using the alias.

24. The method of claim 1, further comprising:

using the alias to contact an entity;

providing the entity with notice of the payment request; and

requesting that the entity register the alias as being associated with the entity'"'"'s financial account.

25. The method of claim 1, further comprising:

using the alias to contact an entity;

providing the entity with notice of the payment request; and

requesting that the entity open a new financial account so that the entity can receive funds from the payment request in the new financial account.

26. The method of claim 1, wherein receiving the payment request from the payment sender via the communication from the remote device comprises:

receiving the payment request via a text message from a mobile phone.

27. The method of claim 1, wherein receiving the payment request from the payment sender via the communication from the remote device comprises:

receiving the payment request via a communication from a mobile phone'"'"'s banking application.

28. The method of claim 1, wherein receiving the payment request from the payment sender via the communication from the remote device comprises:

receiving the payment request via a communication from a personal computer device logged into the payment sender'"'"'s online banking account of an online banking website.

29. An apparatus comprising:

at least one communication interface configured to receive a payment request from a payment sender via a communication from a remote device, wherein the payment request comprises an alias, wherein the alias is not a financial account number, and wherein the payment sender is associated with a payment sender'"'"'s financial account;

at least one processor communicably coupled to the at least one communication interface; and

at least one memory communicably coupled to the at least one processor and having stored thereon executable instructions that, when executed by the at least one processor, cause the apparatus to;

identify a payment recipient'"'"'s financial account based at least partially on the alias; and

transfer funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

30. The apparatus of claim 29, wherein the alias comprises an email address.

31. The apparatus of claim 29, wherein the alias comprises a telephone number.

32. The apparatus of claim 29, wherein the alias comprises a mobile telephone number.

33. The apparatus of claim 29, wherein the alias comprises a social networking identification.

34. The apparatus of claim 29, wherein the payment recipient'"'"'s financial account is associated with a payment recipient, and wherein the alias comprises a unique identifier used generally by the public to communicate with the payment recipient.

35. The apparatus of claim 29, wherein the at least one memory further comprises:

a data repository that maps a plurality of aliases back to one or more financial accounts; and

executable instructions that, when executed by the at least one processor, cause the apparatus to identify the payment recipient'"'"'s financial account based at least partially on the alias by using the data repository in combination with the alias to identify the payment recipient'"'"'s financial account.

36. The apparatus of claim 29, wherein the at least one memory further comprises:

a data repository that maps each of a plurality of aliases back to a financial account number; and

executable instructions that, when executed by the at least one processor, cause the apparatus to identify the payment recipient'"'"'s financial account based at least partially on the alias by using the data repository in combination with the alias to identify the payment recipient'"'"'s financial account number.

37. The apparatus of claim 29, further comprising executable instructions stored in the at least one memory that, when executed by the at least one processor, cause the apparatus to:

use the alias to contact an entity associated with the alias; and

provide the entity with information about the payment request.

38. The apparatus of claim 37, wherein the alias comprises a telephone number, email address, or social networking identification, and

wherein the executable instructions that cause the apparatus to use the alias to contact the entity associated with the alias comprise:

executable instructions that, when executed by the at least one processor, cause the apparatus to use the telephone number, email address, or social networking identification to send a communication regarding the payment request.

39. The apparatus of claim 37, wherein the entity comprises a payment recipient associated with the payment recipient'"'"'s financial account.

40. The apparatus of claim 29, wherein the payment recipient'"'"'s financial account comprises a bank account.

41. The apparatus of claim 29, wherein the executable instructions that cause the apparatus to transfer funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account comprise:

executable instructions that, when executed by the at least one processor, cause the apparatus to initiate an Automated Clearing House (ACH) transfer of funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

42. The apparatus of claim 29, wherein the executable instructions that cause the apparatus to transfer funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account comprise:

executable instructions that, when executed by the at least one processor, cause the apparatus to initiate a direct account-to-account transfer of funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account, wherein the direct account-to-account transfer of funds comprises a substantially real-time transfer that does not use an ACH payment network, or a credit or debit card payment network.

43. The apparatus of claim 29, further comprising:

executable instructions stored in the at least one memory that, when executed by the at least one processor, cause the apparatus to register the alias by receiving the alias from an entity and mapping, in the at least one memory, the alias back to the entity'"'"'s financial account.

44. The apparatus of claim 43, wherein the executable instructions that cause the apparatus to register the alias further comprise:

executable instructions that, when executed by the at least one processor, cause the apparatus to verify that the alias is associated with the entity.

45. The apparatus of claim 44, wherein the alias comprises a telephone number, email address, or social networking identification, and wherein the executable instructions that cause the apparatus to verify that the alias is associated with the entity comprise:

executable instructions that, when executed by the at least one processor, cause the apparatus to use the at least one communication interface to initiate a communication with the entity using the alias.

46. The apparatus of claim 29, further comprising executable instructions stored in the at least one memory that, when executed by the at least one processor, cause the apparatus to:

use the at least one communication interface and the alias to contact an entity;

provide the entity with notice of the payment request; and

request that the entity register the alias as being associated with the entity'"'"'s financial account.

47. The apparatus of claim 29, further comprising executable instructions stored in the at least one memory that, when executed by the at least one processor, cause the apparatus to:

use the at least one communication interface and the alias to contact an entity;

provide the entity with notice of the payment request; and

request that the entity open a new financial account so that the entity can receive funds from the payment request in the new financial account.

48. The apparatus of claim 29, wherein the remote device comprises a mobile phone, and wherein the at least one communication interface is configured to receive the payment request from the payment sender via a text message from the mobile phone.

49. A computer readable medium having computer executable instructions stored therein, wherein the computer executable instructions comprise:

instructions operable to receive a payment request from a payment sender via a communication from a remote device, wherein the payment request comprises an alias, wherein the alias is not a financial account number, and wherein the payment sender is associated with a payment sender'"'"'s financial account;

instructions operable to identify a payment recipient'"'"'s financial account based at least partially on the alias; and

instructions operable to transfer funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

50. The computer readable medium of claim 49, wherein the alias comprises an email address.

51. The computer readable medium of claim 49, wherein the alias comprises a telephone number.

52. The computer readable medium of claim 49, wherein the alias comprises a mobile telephone number.

53. The computer readable medium of claim 49, wherein the alias comprises a social networking identification.

54. The computer readable medium of claim 49, wherein the payment recipient'"'"'s financial account is associated with a payment recipient, and wherein the alias comprises a unique identifier used generally by the public to communicate with the payment recipient.

55. The computer readable medium of claim 49, wherein the instructions operable to identify the payment recipient'"'"'s financial account based at least partially on the alias comprise:

instructions operable to access a memory device comprising a data repository that maps a plurality of aliases back to one or more financial accounts; and

instructions operable to use the data repository in combination with the alias to identify the payment recipient'"'"'s financial account.

56. The computer readable medium of claim 49, further comprising:

instructions operable to use the alias to contact an entity associated with the alias; and

instructions operable to provide the entity with information about the payment request.

57. The computer readable medium of claim 49, wherein the payment recipient'"'"'s financial account comprises a bank account.

58. The computer readable medium of claim 49, further comprising:

instructions operable to register the alias by receiving the alias from an entity and mapping, in a memory device, the alias back to the entity'"'"'s financial account.

59. The computer readable medium of claim 58, wherein the instructions operable to register the alias further comprise:

instructions operable to verify that the alias is associated with the entity.

60. The computer readable medium of claim 59, wherein the alias comprises a telephone number, email address, or social networking identification, and the instructions operable to verify that the alias is associated with the entity comprise:

instructions operable to initiate a communication with the entity using the alias.

61. The computer readable medium of claim 49, further comprising:

instructions operable to use the alias to contact an entity;

instructions operable to provide the entity with notice of the payment request; and

instructions operable to request that the entity register the alias as being associated with the entity'"'"'s financial account.

62. The computer readable medium of claim 49, further comprising:

instructions operable to use the alias to contact an entity;

instructions operable to provide the entity with notice of the payment request; and

instructions operable to request that the entity open a new financial account so that the entity can receive funds from the payment request in the new financial account.

63. The computer readable medium of claim 49, wherein the instructions operable to receive the payment request from the payment sender via the communication from the remote device comprise:

instructions operable to receive the payment request via a text message from a mobile phone.

64. A method of making a payment, the method comprising:

sending a communication from a payment sender to a remote device,

wherein the communication comprises a payment request and an alias,

wherein the alias is not a financial account number,

wherein the payment sender is associated with a payment sender'"'"'s financial account, and

wherein the remote device identifies a payment recipient'"'"'s financial account based at least partially on the alias and then transfers funds from the payment sender'"'"'s financial account to the payment recipient'"'"'s financial account.

65. The method of claim 64, wherein the remote device comprises a network server.

66. The method of claim 64, comprising:

sending the communication from a mobile phone.

67. The method of claim 64, wherein the communication comprises a text message from a mobile device.

68. The method of claim 64, wherein the alias comprises a telephone number, email address, or social networking identifier.