PERSON-TO-PERSON ELECTRONIC PAYMENT PROCESSING

• US 20140337235A1
• Filed: 05/08/2014
• Published: 11/13/2014
• Est. Priority Date: 05/08/2013
• Status: Abandoned Application

• Current Assignee: Toronto-Dominion Bank
• Original Assignee: Toronto-Dominion Bank
• Inventors: Sivashanmugam, Prabaharan, Cummins, Michael D., Del Vecchio, Orin, Nadarajah, Gunalan, VAN HEERDEN, Lauren, D'agostino, Dino, Langham, Steven Robert
• Application Number:
  US14/273,425
• Publication Number:
  US 20140337235A1
• Time in Patent Office: Days
• US Class Current: 705/71
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/383 Anonymous user system

Abstract

A method of person-to-person anonymous electronic payment processing may involve a payment processing server receiving from a payor payment device a payment initiation request for a payment from a payor account. The payment initiation request may identify a payment amount and excludes payee particulars and the payee account. The server may also receive from a payee payment device a payment completion request requesting completion of the payment. The payment completion request may include a payee identifier and exclude the payment amount, payor account and payor particulars. The server may confirm that the payment completion request is uniquely associated with the payee payment device and the payee identifier, and determine the payment amount and the payor account by correlating the payment completion request with the payment initiation request. In accordance with an outcome of the confirming, the payment processing server may effect a transfer in the payment amount from the payor account to the payee account.

Claims

1. A method of person-to-person anonymous electronic payment processing, the method comprising:

receiving, by a payment processing server, and from a payor payment device, a payment initiation request for a payment from a payor account, the payment initiation request identifying a payment amount of the payment and excluding particulars of the payee and particulars of a payee account;

receiving, by the payment processing server, and from a payee payment device, a payment completion request requesting completion of the payment, the payment completion request including a payee identifier and excluding the payment amount, the payor account, and particulars of the payor;

confirming, by the payment processing server, that the payment completion request is uniquely associated with the payee payment device and the payee identifier, and determining, by the payment processing server, the payment amount, the payor account and the payee account from the payment completion request, the payment processing server determining the payment amount and the payor account by correlating the payment completion request with the payment initiation request; and

in accordance with an outcome of the confirming, effecting, by the payment processing server, a transfer in the payment amount from the payor account to the payee account.

2. The method according to claim 1, wherein the payment completion request is cryptographically signed, and the confirming comprises validating the payment completion request using a reference cryptographic key associated with the payee identifier.

3. The method according to claim 2, wherein the confirming further comprises confirming that the reference cryptographic key is uniquely associated with the payee payment device and the payee identifier.

4. The method according to claim 3, wherein determining the payee account comprises querying an accounts database with the payee identifier.

5. The method according to claim 1, further comprising aborting, by the payment processing server, the transfer upon receipt of a repudiation request received from the payor payment device prior to effecting the transfer.

6. A payment processing server comprising:

a network interface; and

a storage device; and

at least one processor coupled to the storage device and the network interface, the storage device storing software instructions for controlling the at least one processor when executed by the at least one processor, and the at least one processor is operative with the software instructions and is configured to;

(i) receive from a payor payment device a payment initiation request for a payment from a payor account, the payment initiation request identifying a payment amount of the payment and excluding particulars of the payee and particulars of a payee account;

(ii) receive from a payee payment device a payment completion request requesting completion of the payment, the payment completion request including a payee identifier and excluding the payment amount, the payor account, and particulars of the payor;

(iii) confirm that the payment completion request is uniquely associated with the payee payment device and the payee identifier, determine the payee account from the payment completion request, and determine the payment amount and the payor account by correlating the payment completion request with the payment initiation request; and

(iv) effect a transfer in the payment amount from the payor account to the payee account in accordance with an outcome of the confirming.

7. The payment processing server according to claim 6, wherein the payment completion request is cryptographically signed, and the at least one processor is further configured to confirm the payment completion request by validating the payment completion request using a reference cryptographic key associated with the payee identifier.

8. The payment processing server according to claim 7, wherein the at least one processor is further configured to confirm the payment completion request by confirming that the reference cryptographic key is uniquely associated with the payee payment device and the payee identifier.

9. The payment processing server according to claim 8, wherein the at least one processor is further configured to determine the payee account by querying an accounts database with the payee identifier.

10. A tangible, non-transitory computer-readable medium storing instructions which, when executed by at least one processor, cause the at least one processor to perform a method of person-to-person anonymous electronic payment processing, the method comprising:

receiving, from a payor payment device, a payment initiation request for a payment from a payor account, the payment initiation request identifying a payment amount of the payment and excluding particulars of the payee and particulars of a payee account;

receiving, from a payee payment device, a payment completion request requesting completion of the payment, the payment completion request including a payee identifier and excluding the payment amount, the payor account, and particulars of the payor;

confirming that the payment completion request is uniquely associated with the payee payment device and the payee identifier, and determining, by the payment processing server, the payment amount, the payor account and the payee account from the payment completion request, the determining comprising determining the payment amount and the payor account by correlating the payment completion request with the payment initiation request; and

in accordance with an outcome of the confirming, effecting a transfer in the payment amount from the payor account to the payee account.