Systems, Methods, And Computer Program Products Providing Push Payments
AssigneeeBay Inc.
InventorSandra Lynn Godsey
Life of this patent
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Abstract
In electronic financial transactions a receiver, or targeted recipient of funds, provides account information to a transmitter, or sender of funds. The transmitter initiates a push of funds from a transmitter funding source to the receiver's funding source processor. In some embodiments the receiver provides a payment card, similar to a credit card, which is read by an electronic device of the transmitter, such as a smart phone. In some embodiments, the receiver provides the account information by way of a bar code, such as a QR code, which is scanned and read by the transmitter's electronic device.
Claims20
An electronic device, comprising:
- a memory storing instructions;
- and
- one or more processors in communication with the memory configured to execute the instructions to:
- initiate a payment transaction to purchase a good from a merchant;
- receive merchant credentials for a financial service provider account of the merchant;
- and
- instruct a funding source of a consumer to process a payment to the merchant according to the payment transaction.
A method performed at a computing device of a consumer, the method comprising:
- receiving credentials for a financial services provider associated with a merchant at the computing device of a consumer, wherein the credentials are received in furtherance of a transaction between the consumer and the merchant in which the consumer transfers funds to the merchant for a purchased item;
- initiating transfer of funds by providing the credentials to a funding source associated with the consumer;
- and
- receiving confirmation of the transfer of funds.
A computer program product having a computer readable medium tangibly recording computer program logic for managing electronic payment, the computer program product comprising:
- code to interact with a consumer, via a computing device associated with the consumer, for facilitating transactions of the consumer;
- code to receive input from the consumer, via the computing device, indicating a first transaction in which the consumer pays money to the merchant for a purchased item;
- code to receive credentials from the consumer, via the computing device, a payment account associated with the merchant;
- and
- code to make a payment to the merchant for the first transaction by transferring money to the merchant using the credentials.
Dependencies are inferred from the claim text.