Abstract: A computer implemented method and a system for transferring funds between a payor and a payee using a single mobile phone. The method is implemented on a payment processing system and uses transaction information including a payor debit card number, a payor PIN, a payee debit card number and an amount of money to transfer the funds from a payor demand deposit account (DDA) to a payee DDA without using a notify and pay instrument. The payor and the payee interact with the payment processing system with a single mobile phone.

Abstract: A computer implemented method and a system for transferring funds between a payor and a payee using a single mobile phone. The method is implemented on a payment processing system and uses transaction information including a payor debit card number, a payor PIN, a payee debit card number and an amount of money to transfer the funds from a payor demand deposit account (DDA) to a payee DDA without using a notify and pay instrument. The payor and the payee interact with the payment processing system with a single mobile phone.

Abstract: A system conducts online person-to-person monetary transactions between individuals or between individuals and entities such as banks, merchants or other companies. An individual establishes an electronic payment user interface associated with an entity which gives access to an online system used to transact money transfers. Any user can complete a receipt or a payment transaction directly with any other person or entity in real-time and at any time and from anywhere providing that each user operates an account from or to which money can be received or disbursed.