Methods and systems for payment method selection by a payee in a mobile environment

  • US 8,121,945 B2
  • Filed: 07/06/2006
  • Issued: 02/21/2012
  • Est. Priority Date: 07/06/2006
  • Status: Active Grant
First Claim
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1. A mobile phone of a payee for facilitating the receipt of a financial payment from a payer who initiates the payment without any direct communication with a payee, the mobile phone of the payee comprising:

  • a display for presenting information relating to a plurality of selectable payment methods;

    a user input for receiving payee selection by the payee without any direct communication with the payer of a payment method from the plurality of selectable payment methods, the plurality of selectable payment methods comprises a plurality of financial instruments for receiving payment from the payer to the payee;

    a wireless communications component for communicating with a mobile financial transaction system (MFTS) via the wireless network, the MFTS having stored therein payment method information corresponding to a plurality of payment methods for effectuating a payment; and

    a mobile phone processor operative to;

    receive information at the mobile phone of the payee from the MFTS via the wireless communications component corresponding to a received payment, the received payment originating from the payer using a mobile phone to issue a command to the MFTS without any direct communication between the mobile phone of the payer and the mobile phone of the payee;

    present information to the payee on the mobile phone display corresponding to the plurality of selectable payment methods for receiving the payment;

    receive payee input via the user input means corresponding to selection of a payment method from the plurality of selectable payment methods for receiving the payment;

    generate a mobile payment instruction comprising information corresponding to the selected payment method; and

    wirelessly communicate via the wireless communications component the mobile payment instruction from the mobile phone of the payee to the MFTS,whereby in response to receipt of the mobile payment instruction, the MFTS effects a payment to the payee utilizing the payment method selected by the payee.

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