Method and System for Processing Internet Payments Using the Electronic Funds Transfer Network

A computer implemented system is provided for processing payments. A server including a computer memory storing a first database including a directory is provided. The directory includes authenticated registrant information comprising authenticated information for a payee, the directory identifying...

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Bibliographische Detailangaben
Hauptverfasser: O'LEARY DENIS, RE S. RICHARD, D'AGOSTINO VINCENT, HOFFMAN ADAM, BURNEY JESSICA
Format: Patent
Sprache:eng
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Beschreibung
Zusammenfassung:A computer implemented system is provided for processing payments. A server including a computer memory storing a first database including a directory is provided. The directory includes authenticated registrant information comprising authenticated information for a payee, the directory identifying via a publicly available account identifier at least one linked account of said payee. The system also includes a payor computer having access to the directory and a first bank computer linked via a computer network to the server, the first bank computer configured to access payor account information from a payor account at the first bank. The first bank computer is also configured to receive payment information from the payor computer identifying the payee and to transmit a payment from the payor account at the first bank to the linked payee account located at a second bank