Abstract: A Person-to-person payments method and system may include receiving a request from a computer network to transfer funds from a first account to a second account, almost instantly. An alias (mobile number or email) is received and is associated with the second account and checked against a database. If the alias exists, multiple options may apply for transferring funds. Next, a secure party identifier is generated and the transfer may be completed. A Payments Switch Module may also communicate with a Third Party Payment Service Provider a request from a Sending or Receiving Financial Institution or party, to send or receive funds from a specific account held by the Third Party Payment Service Provider. This may occur on an adhoc, automatic, or scheduled basis enabling management of ‘personal cash concentration.’ This feature with the Third Party Payment Service Provider be characterized as a “Bring it Home” feature of the system.
Type:
Grant
Filed:
May 11, 2018
Date of Patent:
September 5, 2023
Assignee:
PANTHER PAYMENTS, LLC
Inventors:
Mark Wilson, Rod Springhetti, Diane Scott
Abstract: A Person-to-person payments method and system may include receiving a request from a computer network to transfer funds from a first account to a second account, almost instantly. An alias (mobile number or email) is received and is associated with the second account and checked against a database. If the alias exists, multiple options may apply for transferring funds. Next, a secure party identifier is generated and the transfer may be completed. A Payments Switch Module may also communicate with a Third Party Payment Service Provider a request from a Sending or Receiving Financial Institution or party, to send or receive funds from a specific account held by the Third Party Payment Service Provider. This may occur on an adhoc, automatic, or scheduled basis enabling management of ‘personal cash concentration.’ This feature with the Third Party Payment Service Provider be characterized as a “Bring it Home” feature of the system.
Type:
Application
Filed:
May 2, 2012
Publication date:
November 8, 2012
Applicant:
Panther Payments, LLC
Inventors:
Mark Wilson, Rod Springhetti, DIANE SCOTT