ONLINE FUNDS TRANSFER METHOD
First Claim
1. A system for transferring funds from a sender to a recipient, wherein the system comprises:
- a funds transfer server configured to;
initiate a first transfer from a financial account of the sender to a financial account associated with the funds transfer server;
receive a request to transfer funds;
validate the request to transfer funds;
initiate a second transfer from the financial account associated with the funds transfer server to a financial account of the recipient; and
send a message to at least one of the sender or the recipient that funds have been transferred.
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Accused Products
Abstract
A method is provided for transferring funds related to a checkout process for a transaction initiated between a user and a merchant. The method may include storing information on a plurality of asset accounts associated with the user and receiving selection of a first account from the plurality of asset accounts as possible choices. The method may also include receiving authorization via the interface from the user to pay the merchant from the first account. The method may further include providing a digital IOU to the merchant and receiving a redemption request of the digital IOU. The method may additionally include 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.
11 Citations
20 Claims
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1. A system for transferring funds from a sender to a recipient, wherein the system comprises:
a funds transfer server configured to; initiate a first transfer from a financial account of the sender to a financial account associated with the funds transfer server; receive a request to transfer funds; validate the request to transfer funds; initiate a second transfer from the financial account associated with the funds transfer server to a financial account of the recipient; and send a message to at least one of the sender or the recipient that funds have been transferred. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A non-transitory machine readable medium with instructions stored thereon, executable by a processor for transferring funds from a sender to a recipient, wherein instructions are executable to:
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initiate a first transfer from a financial account of the sender to a financial account associated with the funds transfer server; receive a request to transfer funds; validate the request to transfer funds; initiate a second transfer from the financial account associated with the funds transfer server to a financial account of the recipient; and send a message to at least one of the sender or the recipient that funds have been transferred.
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20. A method for transferring funds from a sender to a recipient, wherein the method comprises:
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initiating a first transfer from a financial account of the sender to a financial account associated with the funds transfer server; receiving a request to transfer funds; validating the request to transfer funds; initiating a second transfer from the financial account associated with the funds transfer server to a financial account of the recipient; and sending a message to at least one of the sender or the recipient that funds have been transferred.
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Specification