Methods and Systems For Payment Method Selection by a Payee in a Mobile Environment

  • US 20080010193A1
  • Filed: 07/06/2006
  • Published: 01/10/2008
  • Est. Priority Date: 07/06/2006
  • Status: Active Grant
First Claim
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1. A method for receiving a financial payment facilitated by use of a mobile device connected for communications with a wireless network, comprising the steps of:

  • providing a mobile financial transaction system (MFTS) coupled for wireless communications with a mobile device of a user/payee, the MFTS coupled for electronic communication with a payment instruction recipient that effects payments by various methods, the MFTS including a mobile financial transaction system (MFTS) database for storing user/payee information;

    providing information corresponding to a received payment to the user/payee'"'"'s mobile device;

    displaying information corresponding to a plurality of selectable payment methods available to the user/payee for receiving the payment;

    at the user/payee'"'"'s mobile device, receiving user/payee input corresponding to selection of a payment method for receiving the payment;

    at the mobile device in response to the user/payee input, generating a mobile payment instruction comprising information corresponding to the selected payment method;

    wirelessly communicating the mobile payment instruction from the mobile device to the MFTS;

    at the MFTS and in response to receipt of the mobile payment instruction, retrieving information from the MFTS database corresponding to the selected payment method identified in the payment instruction;

    at the MFTS, generating a MFTS payment instruction to a payment instruction recipient, the MFTS payment instruction including at least an amount, information corresponding to the identified payee, and information indicating the selected payment method; and

    communicating the MFTS payment instruction from the MFTS to the payment instruction recipient,whereby the payment instruction recipient, in response to receipt of the MFTS payment instruction, effects a payment to the user/payee utilizing the selected payment method.

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