Predicting and making payments via preferred payment methods
AssigneeWells Fargo Bank, N.A.
InventorsMillicent Calinog, Patricia Chouanard-Mcadam, Chris Kalaboukis, Kristine Ing Kushner, Muhammad Farukh Munir, Raissa Williams
Life of this patent
Estimating the term…
Abstract
A method comprises predicting a preferred funds transfer method of a payee based on payee data, generating a token based on the predicted preferred funds transfer method where the token is decodable to identify the predicted preferred funds transfer method and the payee, and initiating, in response to an input from the payee, an electronic funds transfer from a payer to the payee.
Claims20
A computer-implemented method performed by one or more processors of a computing system, the method comprising:
- identifying a preferred funds transfer method of a first payee based on payee data associated with the first payee;
- identifying a downstream payee based on a history of the first payee's funds transfer activity between the first payee and the downstream payee;
- generating a token based on the preferred funds transfer method, wherein the token is decodable to identify the preferred funds transfer method;
- providing the token to the downstream payee;
- and
- initiating, in response to receiving a notification, an electronic funds transfer from a payer to the downstream payee.
A computing system comprising:
- a processing circuit comprising one or more processors and memory storing instructions that when executed cause the processing circuit to:
- identify a preferred funds transfer method of a first payee based on payee data associated with the first payee;
- identify a downstream payee based on a history of the first payee's funds transfer activity between the first payee and the downstream payee;
- generate a token based on the preferred funds transfer method, wherein the token is decodable to identify the preferred funds transfer method;
- provide the token to the downstream payee;
- and
- initiate, in response to receiving a notification, an electronic funds transfer from a payer to the downstream payee.
A non-transitory computer-readable medium containing instructions for causing a processing circuit of a computing system to perform operations, the operations comprising:
- identifying a preferred funds transfer method of a first payee based on payee data associated with the first payee;
- identifying a downstream payee based on a history of the first payee's funds transfer activity between the first payee and the downstream payee;
- generating a token based on the preferred funds transfer method, wherein the token is decodable to identify the preferred funds transfer method;
- providing the token to the downstream payee;
- and
- initiating, in response to receiving a notification, an electronic funds transfer from a payer to the downstream payee.
Dependencies are inferred from the claim text.