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ONLINE FUNDS TRANSFER METHOD

  • US 20130006811A1
  • Filed: 09/11/2012
  • Published: 01/03/2013
  • Est. Priority Date: 02/29/2000
  • Status: Abandoned Application
First Claim
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1. A method for transferring funds related to a checkout process for a transaction initiated online between a user and a merchant, the method comprising steps of:

  • storing information on a plurality of asset accounts associated with the user, wherein each of the plurality of asset accounts comprises a source of funds;

    receiving selection of a first account from the plurality of asset accounts as possible choices;

    receiving authorization via the interface from the user over a wide area network to pay the merchant from the first account;

    providing a digital IOU to the merchant;

    receiving a redemption request of the digital IOU;

    determining, automatically with a funds transfer server, a second account associated with the merchant; and

    initiating, automatically with the funds transfer server in response to the redemption request, an electronic transfer between the first account and the second account that is related to the checkout process for the transaction.

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