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US 2014/0207678 A1Published application
Disbursement and settlements system and method
OwnerRobert Conyersinventor
Life of this patent
Estimating the term…
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.
Claims20
An on-line, computer-implementable disbursement and settlement system and method providing for any one person or entity of a population of persons or entities comprising:
- Receiving a request to generate an online electronic user interface associated with an entity that is associated with a first individual for a first transaction to an account associated with an entity in accordance with at least one aspect of the present disclosure;
- Receiving at least one first individual defined criterion associated with the electronic payment user interface that is for a first transaction;
- Generating an Internet accessible address to the electronic payment user interface with an entity associated with first individual;
- Receiving a request input from first individual online to access via the Internet accessible address the electronic user interface associated with first individual of the account associated with the entity;
- Receiving at least one first individual defined criterion for a transaction in accordance with at least one aspect of the present disclosure;
- Receiving an authorization input by first individual to make an electronic payment of a monetary quanta from an account of first individual to an account specified by first individual;
- Permitting a payment of a monetary quanta from an account associated with first individual directly to an account specified by first individual in real-time and at any time and from anywhere;
- Permitting transaction spontaneously without a request input authorization by entity a priori to any first transaction associated with any account specified by first individual for a transaction;
- Permitting a payment directly from an account associated with first individual directly to an account specified by first individual without payment completion conditional on negotiation by individual holding the account specified by first individual of a notify and pay instrument, and
- Permitting completion of a transaction without involving a stored value account.
- A server and a funds exchange server (or a network of these) maintained by or on behalf of a service provider receiving and processing instructions from a user.
8 more elements
One or more computer readable medium comprising computer executable instructions that, when executed by at least one processor, causes the at least one processor to perform a method comprising:
- Receiving a request to generate an online electronic user interface associated with an entity that is associated with a first individual for a first transaction to an account associated with an entity in accordance with at least one aspect of the present disclosure;
- Receiving at least one first individual defined criterion associated with the electronic payment user interface that is for a first transaction;
- Generating an Internet accessible address to the electronic payment user interface with an entity associated with first individual;
- Receiving a request input from first individual online to access via the Internet accessible address the electronic user interface associated with first individual of the account associated with the entity;
- Receiving at least one first individual defined criterion for a transaction in accordance with at least one aspect of the present disclosure;
- Receiving an authorization input by first individual to make an electronic transfer of a monetary quanta from an account of first individual to an account specified by first individual;
- Permitting a transfer of a monetary quanta from an account associated with first individual directly to an account specified by first individual in real-time and at any time from anywhere;
- Permitting transaction spontaneously without a request input authorization by entity a priori to any first transaction associated with any account specified by first individual for a transaction;
- Permitting a payment directly from an account associated with first individual directly to an account specified by first individual without payment completion provisional on negotiation by individual associated with an account specified by first individual of a notify and pay instrument, and,
- Permitting completion of a transaction without involving a stored value account.
7 more elements
An apparatus comprising:
- at least one processor;
- and
- at least one memory storing computer readable instructions that, when executed by the at least one processor, cause the apparatus to perform:
- receiving a request to generate an online electronic user interface associated with an entity that is associated with a first individual for a first transaction to an account associated with an entity in accordance with at least one aspect of the present disclosure;
- receiving at least one first individual defined criterion associated with the electronic payment user interface that is for a first transaction;
- generating an Internet accessible address to the electronic payment user interface with an entity associated with first individual;
- receiving a request input from first individual online to access via the Internet accessible address the electronic user interface associated with first individual of the account associated with the entity;
- receiving at least one first individual defined criterion for a transaction in accordance with at least one aspect of the present disclosure;
- receiving an authorization input by first individual to make an electronic transfer of a monetary quanta from an account of first individual to an account specified by first individual;
- permitting a transfer of a monetary quanta from an account associated with first individual directly to an account specified by first individual in real-time and at any time from anywhere;
- permitting transaction spontaneously without a request input authorization by entity a priori to any first transaction associated with any account specified by first individual for a transaction;
- permitting a payment directly from an account associated with first individual directly to an account specified by first individual without payment completion provisional on negotiation by individual associated with an account specified by first individual of a notify and pay instrument, and
- permitting completion of a transaction without involving a stored value account.
10 more elements
Dependencies are inferred from the claim text.