Purchasing Method with Funding Source Selection

A computer-implemented method for performing a purchasing transaction between a purchaser and a merchant, the method comprising:

• receiving, at a server device from a device associated with the merchant, a request to purchase an item or service from the merchant, the request comprising information about the item or service;
• receiving, at the server device from the device associated with the merchant, information identifying the purchaser;
• sending, to the device associated with the merchant from the server device, a funding source selection from a list of funding source options associated with the purchaser;
• and
• completing the purchasing transaction, wherein the funds used to purchase the item or service are taken from the funding source selected;
• wherein the step of sending the funding source selection comprises selecting a funding source based on (i) data associated with the purchaser or (ii) data associated with a history of purchases by the purchaser at the merchant;
• and
• wherein the list of funding source options associated with the purchaser are configured a priori by said purchaser using a message sent to said server device via SMS.

A process comprising:

• receiving a message sent via SMS from a purchaser, said message containing an a priori funding source selection for a payment service used to conduct a purchase transaction;
• receiving, at a server device from a device associated with a merchant, a request to transfer funds to said merchant on behalf of said purchaser;
• and
• completing said purchase transaction, wherein said funds transferred to said merchant on behalf of said purchaser are taken from a funding source selected by said a priori funding source selection;
• wherein said a priori funding source selection is stored so as to apply to all future transactions conducted by said purchaser using said payment service until said payment service receives a second a priori funding source selection from said purchaser.