System and method for conditional data transfers

A method comprising:

• receiving, via a communications module, a transfer instruction for transfer of data from a first data record associated with a transferor to a second data record associated with a recipient, the transfer instruction including a transfer amount and a condition associated with the transfer;
• sending, via the communications module, a notification of the transfer instruction to a computing device associated with the recipient and requesting permission to obtain contextual data therefrom;
• when permission is granted, obtaining, via the communications module, contextual data from the computing device;
• determining, based on the contextual data, that the condition associated with the transfer has been satisfied;
• and
• in response to determining that the condition associated with the transfer has been satisfied, effecting the transfer of data from the first data record to the second data record.

A non-transitory computer-readable storage medium storing instructions that when executed by a processor of a computer system cause the computing system to:

• receive, via a communications module, a transfer instruction for transfer of data from a first data record associated with a transferor to a second data record with a recipient, the transfer instruction including a transfer amount and a condition associated with the transfer;
• send, via the communications module, a notification of the transfer instruction to a computing device associated with the recipient and request permission to obtain contextual data therefrom;
• when permission is granted, obtain, via the communications module, contextual data from the computing device;
• determine, based on the contextual data, that the condition associated with the transfer has been satisfied;
• and
• in response to determining that the condition associated with the transfer has been satisfied, effect the transfer of data from the first data record to the second data record.