Secure real-time transactions

Patent metadata

Field	Value
Publication number	US-11062290-B2
Application number	US-201815873549-A
Country	US
Kind code	B2
Filing date	Jan 17, 2018
Priority date	Jul 21, 2015
Publication date	Jul 13, 2021
Grant date	Jul 13, 2021

Abstract

A method including determining, at a point-of-sale terminal at a store of a merchant, a payment amount for one or more items to be purchased from the merchant by a consumer in a transaction. The method also can include sending first information from the point-of-sale terminal to a mobile device used by the consumer. The first information can include a merchant identifier, a transaction identifier, and the payment amount, such that the mobile device sends a request to pay the merchant for the payment amount from one or more first accounts of the consumer maintained by a first financial institution, such that the first financial institution, upon receiving the request to pay, retrieves from a transaction system an account identifier of a second account of the merchant maintained by a second financial institution based on the merchant identifier, such that the first financial institution sends to the transaction system payment information regarding a payment to be made to the second account from the one or more first accounts, and such that the payment information is routed through the transaction system to the second financial institution. The one or more first accounts can include at least one non-demand deposit account. The transaction system can be maintained by an entity that is different from the merchant, the first financial institution, and the second financial institution. The payment information can include the transaction identifier, the account identifier of the second account, and the payment amount. The method additionally can include receiving, at the point-of-sale terminal, a notification of payment for the transaction in real-time while the consumer remains at the store of the merchant. Other embodiments are provided.

First claim

What is claimed is:

1. A system comprising:
one or more processors; and
one or more non-transitory computer-readable media storing computing instructions configured to run on the one or more processors and perform:
determining, at a point-of-sale terminal at a store of a merchant, a payment amount for one or more items to be purchased from the merchant by a consumer in a transaction;
sending first information from the point-of-sale terminal to a mobile device used by the consumer, wherein:
the first information comprises (1) a merchant identifier, (2) a transaction identifier, and (3) the payment amount; and
sending the first information from the point-of-sale terminal to the mobile device causes:
(1) the mobile device to send a request to pay the merchant for the payment amount from one or more consumer accounts of the consumer maintained by a consumer financial institution, wherein the one or more consumer accounts comprise at least one non-demand deposit account;
(2) the consumer financial institution, upon receiving the request to pay, to retrieve from a transaction system a merchant account identifier of a merchant account of the merchant maintained by a merchant financial institution, wherein the transaction system is maintained by an entity that is different from the merchant, the consumer financial institution, and the merchant financial institution, and wherein the merchant account identifier is determined by the transaction system based on the merchant identifier;
(3) the consumer financial institution to send to the transaction system payment information regarding a payment to be made to the merchant account from the one or more consumer accounts, wherein the payment information comprises (a) the transaction identifier, (b) the merchant account identifier of the merchant account, and (c) the payment amount; and
(4) the payment information to be routed through the transaction system to the merchant financial institution; and

receiving, at the point-of-sale terminal, a notification of good funds for the transaction in real-time while the consumer remains at the store of the merchant,

wherein:
the merchant does not receive any consumer account identifiers of the one or more consumer accounts; and
the consumer does not receive the merchant account identifier of the merchant account of the merchant.

2. The system of claim 1 , wherein:
the payment information further comprises one of: (a) one or more settlement credit pushes of funds that collectively total the payment amount from the one or more consumer accounts to the merchant account, or (b) one or more irrevocable promises to pay that collectively total the payment amount from the one or more consumer accounts to the merchant account.

3. The system of claim 1 , wherein:
the consumer financial institution is configured to send to the mobile device an account balance of a demand deposit account of the consumer maintained by the consumer financial institution.

4. The system of claim 3 , wherein:
the consumer financial institution is configured to determine that the account balance of the demand deposit account is less than the payment amount of the transaction.

5. The system of claim 3 , wherein:
the consumer financial institution is configured to send to the mobile device an option to at least partially fund the transaction using the at least one non-demand deposit account.

6. The system of claim 5 , wherein:
the consumer financial institution is configured to receive from the mobile device a selection to at least partially fund the payment amount of the transaction using the at least one non-demand deposit account.

7. The system of claim 6 , wherein:
the one or more consumer accounts further comprise the demand deposit account;
a first portion of the payment amount of the transaction is funded from the demand deposit account; and
a second portion of the payment amount of the transaction is funded from the at least one non-demand deposit account.

8. The system of claim 6 , wherein:
the demand deposit account is devoid of being used to fund the payment amount of the transaction; and
the payment amount of the transaction is funded wholly from the at least one non-demand deposit account.

9. The system of claim 1 , wherein:
the at least one non-demand deposit account comprises a loan account; and
the loan account is created after the consumer financial institution receives the request to pay the merchant; and
the loan account is used to fund at least a first portion of the payment amount of the transaction.

10. The system of claim 9 , wherein:
a second portion of the payment amount is funded from a demand deposit account of the consumer maintained at the consumer financial institution.

11. The system of claim 1 , wherein:
the at least one non-demand deposit account comprises a credit account; and
at least a portion of the payment is funded from a charge to the credit account.

12. The system of claim 1 , wherein the at least one non-demand deposit account comprises a points account.

13. A method being implemented via execution of computing instructions configured to run at one or more processors and stored at one or more non-transitory computer-readable media, the method comprising:
determining, at a point-of-sale terminal at a store of a merchant, a payment amount for one or more items to be purchased from the merchant by a consumer in a transaction;
sending first information from the point-of-sale terminal to a mobile device used by the consumer, wherein:
the first information comprises (1) a merchant identifier, (2) a transaction identifier, and (3) the payment amount; and
sending the first information from the point-of-sale terminal to the mobile device causes:
(1) the mobile device to send a request to pay the merchant for the payment amount from one or more consumer accounts of the consumer maintained by a consumer financial institution, wherein the one or more consumer accounts comprise at least one non-demand deposit account;
(2) the consumer financial institution, upon receiving the request to pay, to retrieve from a transaction system a merchant account identifier of a merchant account of the merchant maintained by a merchant financial institution, wherein the transaction system is maintained by an entity that is different from the merchant, the consumer financial institution, and the merchant financial institution, and wherein the merchant account identifier is determined by the transaction system based on the merchant identifier;
(3) the consumer financial institution to send to the transaction system payment information regarding a payment to be made to the merchant account from the one or more consumer accounts, wherein the payment information comprises (a) the transaction identifier, (b) the merchant account identifier of the merchant account, and (c) the payment amount; and
(4) the payment information to be routed through the transaction system to the merchant financial institution; and

receiving, at the point-of-sale terminal, a notification of good funds for the transaction in real-time while the consumer remains at the store of the merchant,

wherein:
the merchant does not receive any consumer account identifiers of the one or more consumer accounts; and
the consumer does not receive the merchant account identifier of the merchant account of the merchant.

14. The method of claim 13 , wherein:
the payment information further comprises one of: (a) one or more settlement credit pushes of funds that collectively total the payment amount from the one or more consumer accounts to the merch

Assignees

• Early Warning Services Llc

Inventors

• Finch Paul
• Alexander Lou Anne

Classifications

• G06Q20/20 Primary

  Point-of-sale [POS] network systems · CPC title

• G06Q20/326

  Payment applications installed on the mobile devices · CPC title

• G06Q20/227

  characterised in that multiple accounts are available, e.g. to the payer · CPC title

• G06Q20/36

  using electronic wallets or electronic money safes · CPC title

• G06Q20/32

  using wireless devices · CPC title