Abstract: A mobile payment system is disclosed for processing payments authorized by mobile devices (“mobile payments”) that is configured to process mobile payment authorizations that are directed to an electronic lock box. The mobile payment authorizations are processed by way of electronic funds transfer and cleared, for example, by way of an automated electronic funds clearing network, such as the Automated Clearing House (ACH). In accordance with an important aspect of the invention, the mobile payment system also processes returns for payments that cannot be cleared. The mobile payment system may be configured to provide advance notification of billing deadlines to payees, e.g., mobile clients, by way of an SMS (Small Message System) message and enable consumers to authorize payment in the same fashion.