Data structure, method and system for generating person-to-person, person-to-business, business-to-person, and business-to-business financial transactions
First Claim
1. In a data processing system for facilitating a financial transaction between a payer and a payee using a personal payment number permitting only one-way credit-only funds transfer, said personal payment number comprising routing information for directing a personal payment number transaction to a personal payment number site and an identifier unique to said payee, wherein prior to a payer-initiated transaction a personal payment number is obtained by the payee and communicated to said payer, a method of processing a one-way credit-only funds transfer comprising:
- receiving a payment message from the payer, said payment message containing the personal payment number and an amount to be paid in said transaction;
creating a transaction message incorporating the personal payment number and the amount to be paid;
routing the transaction message to the personal payment number site;
modifying the transaction message by replacing information in the personal payment number with information in a database linked to the personal payment number, wherein the linked information identifies an account number of the payee and a routing number of a financial institution associated with the payee; and
routing the modified transaction message to the financial institution associated with the payee for completion.
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Accused Products
Abstract
The delivery of a secure method and system of generating person to person, business to business, business to person and person to business transactions involving transfer of funds from one party (the purchaser) to a second party (the vendor). The functionality of existing credit/debit cards and the associated infrastructure is extended to provide a secure global mechanism for individuals/businesses to receive funds without revealing confidential information or having to become credit/debit accepting merchants.
318 Citations
14 Claims
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1. In a data processing system for facilitating a financial transaction between a payer and a payee using a personal payment number permitting only one-way credit-only funds transfer, said personal payment number comprising routing information for directing a personal payment number transaction to a personal payment number site and an identifier unique to said payee, wherein prior to a payer-initiated transaction a personal payment number is obtained by the payee and communicated to said payer, a method of processing a one-way credit-only funds transfer comprising:
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receiving a payment message from the payer, said payment message containing the personal payment number and an amount to be paid in said transaction; creating a transaction message incorporating the personal payment number and the amount to be paid; routing the transaction message to the personal payment number site; modifying the transaction message by replacing information in the personal payment number with information in a database linked to the personal payment number, wherein the linked information identifies an account number of the payee and a routing number of a financial institution associated with the payee; and routing the modified transaction message to the financial institution associated with the payee for completion. - View Dependent Claims (2, 3, 4, 5)
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6. A method of implementing a personal payment number transaction comprising:
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communicating a personal payment number to a payer, said personal payment number having a format comprising; routing information to direct financial transaction information to a particular institution among a plurality of institutions using a computer network, and a unique identification of a payee associated with said particular institution, wherein said personal payment number identifies an account into which funds can be transferred but from which funds cannot be transferred; forwarding transaction information including the personal payment number and a transaction amount from the payer to a financial institution associated with the payer; creating a transaction message containing the account details of the payer, the personal payment number, and the transaction amount; routing the transaction message to the particular financial institution indicated by the routing information; accessing a database having a data structure linking an account number of the account with information of the personal payment number; and receiving funds in the account via a personal payment number transaction initiated by the payer. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14)
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Specification