Person-to-person electronic payment processing

Inactive Publication Date: 2014-11-13
THE TORONTO DOMINION BANK
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

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Benefits of technology

[0017]The computer processing system may be configured to (i) confirm that the payment completion request is uniquely associated with the payee payment device and the payee identifier, (ii) determine a payee account by querying the accounts database with the payee identifier, and (iii) determine the payment amount and the payor account by querying the transactions database with the transaction pointer. The computer processing system may also

Problems solved by technology

However, the payee may wish not to provide the payor with any such personal information.
Moreover, e-payment transfers may be subje

Method used

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  • Person-to-person electronic payment processing
  • Person-to-person electronic payment processing
  • Person-to-person electronic payment processing

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Example

[0027]Reference will now be made in detail to disclosed embodiments, examples of which are illustrated in the accompanying drawings. The same reference numbers in the drawings and this disclosure are intended to refer to the same or like elements, components, and / or parts.

[0028]In this application, the use of the singular includes the plural unless specifically stated otherwise. In this application, the use of “or” means “and / or” unless stated otherwise. Furthermore, the use of the term “including,” as well as other forms such as “includes” and “included,” is not limiting. In addition, terms such as “element” or “component” encompass both elements and components comprising one unit, and elements and components that comprise more than one subunit, unless specifically stated otherwise. Additionally, any section headings used herein are for organizational purposes only, and are not to be construed as limiting the subject matter described.

[0029]FIG. 1 is a diagram of an exemplary e-paym...

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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.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application claims the benefit of priority to U.S. Provisional Patent Application No. 61 / 821,228, filed May 8, 2013, the disclosure of which is incorporated herein by reference to its entirety.BACKGROUND[0002]1. Technical Field[0003]This patent application relates to a method and network for processing electronic payments.[0004]2. Background Information[0005]To make a person-to-person electronic payment, a payor may initiate an e-payment transfer through the payor's financial institution server. Using a web portal or a dedicated software application, the payor provides the payor's financial institution server with the intended payment amount, the payee's e-mail address or phone number, and a security question and answer. The financial institution server may issue to the payee an e-mail or text message that includes a link to the pending transaction, and identifies the payment amount and the payor. To accept the payment, the payee may...

Claims

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Application Information

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IPC IPC(8): G06Q20/22G06Q20/38
CPCG06Q20/223G06Q20/3829G06Q20/10G06Q20/383
Inventor VAN HEERDEN, LAURENSIVASHANMUGAM, PRABAHARAND'AGOSTINO, DINOCUMMINS, MICHAEL D.DEL VECCHIO, ORINNADARAJAH, GUNALANLANGHAM, STEVEN ROBERT
Owner THE TORONTO DOMINION BANK
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