PEER-TO-PEER AND GROUP FINANCIAL MANAGEMENT SYSTEMS AND METHODS
First Claim
1. A method of transferring funds from a payer to a payee in a electronic payment system, the electronic payment system including a payment processor and an accounts database, comprising:
- receiving at the payment processor a payment request from the payer, the payment request including information to identify the payee and a payment amount;
accessing an accounts database to determine if the accounts database includes an account associated with the payee;
based on a determination that the accounts database includes an account associated with the payee, sending an electronic message from the payment processor to the payee that notifies the payee of the payment request;
accessing the accounts database to determine if the payee is identified as having a trusted relationship with the payer; and
based on a determination that the payee is identified in the accounts database as having a trusted relationship with the payer, the payment processor accessing the accounts database to transfer the payment amount from an account associated with the payer to the account associated with the payee without first receiving authorization for the transfer from the payee.
1 Assignment
0 Petitions
Accused Products
Abstract
This relates to transferring funds from a payer to a payee in a electronic payment system. The electronic payment system includes a payment processor and an accounts database. The payment processor receives a payment request from the payer. The payment request includes information to identify the payee and a payment amount. An accounts database is accessed to determine if the accounts database includes an account associated with the payee. Based on a determination that the accounts database includes an account associated with the payee, an electronic message is sent from the payment processor to the payee, to notify the payee of the payment request. The accounts database is accessed to determine if the payee is identified as having a trusted relationship with the payer.
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Citations
1 Claim
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1. A method of transferring funds from a payer to a payee in a electronic payment system, the electronic payment system including a payment processor and an accounts database, comprising:
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receiving at the payment processor a payment request from the payer, the payment request including information to identify the payee and a payment amount; accessing an accounts database to determine if the accounts database includes an account associated with the payee; based on a determination that the accounts database includes an account associated with the payee, sending an electronic message from the payment processor to the payee that notifies the payee of the payment request; accessing the accounts database to determine if the payee is identified as having a trusted relationship with the payer; and based on a determination that the payee is identified in the accounts database as having a trusted relationship with the payer, the payment processor accessing the accounts database to transfer the payment amount from an account associated with the payer to the account associated with the payee without first receiving authorization for the transfer from the payee.
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Specification