Wells Fargo Bank, N.a.

Catherine Wangari Mwangi

Michael Knorr

Phillip H Griffin

Jal Daruwalla

Lynnel J Kresse

Ashia Kennon

Joanne Strobel-Cort

Thomas R Miller

Mercedes Roldan-Colon

Jessica A Weng

Eileen Johnstone

Systems, methods, and apparatuses for real-time trickle payments are provided. A system includes a processing circuit configured to: receive a request from a consumer device to commission a service provided by a supplier; place a financial hold on funds allocated to a supplier financial account based on performance terms of a smart contract; detect initiation of performance of the requested service based on performance information from a mobile device associated with the supplier and correlating the performance information to the smart contract; increase a financial hold on funds allocated to a consumer financial account in a hold amount proportional to the monitored performance, and decrease the financial hold on the funds allocated to the supplier financial account in the hold amount proportional to the monitored performance; and, upon the completion of the requested service, release the funds on hold in the supplier financial account.

Systems and methods for real-time trickle payments

A method including receiving a signcrypted cross-border payment message, the signcrypted cross-border payment message generated by signcrypting a cross-border payment message using a first financial institution public key, a first financial institution private key, and a second financial institution public key, retrieving the first financial institution public key, the second financial institution public key, and a second financial institution private key, wherein the second financial institution public key and the second financial institution private key are part of a public/private key pair, unsigncrypting the signcrypted cross-border payment message using the first financial institution public key, the second financial institution public key, and the second financial institution private key to retrieve the cross-border payment message, and verifying that the first financial institution public key is associated with a first financial institution.

Encapsulation of payment information

A system, method, and apparatus for carrying out a value transfer is provided. A method includes receiving, by a computing system of a financial institution, a de-signcrypted value transfer message including terms of a value transfer from an account of a sending party to an account of a merchant, wherein a receiving party desires to make a purchase from the merchant and the value transfer is a payment from the sending party account to the merchant account; and one or more spending limitations on the desired purchase, wherein the payment is contingent on the desired purchase meeting the spending limitations. The method then includes verifying the authenticity of the de-signcrypted message using a public key of the sending party and a private key of the financial institution; and dispersing funds according to the terms of the value transfer.

Systems and methods for value transfers using signcryption

Various embodiments relate to a method performed by a processor of a computing system. An example method includes receiving a digitally signed cross-border payment message, the digitally signed cross-border payment message generated by digitally signing a first hash of a cross-border payment message with a first financial institution private key. A first financial institution public key is retrieved, the first financial institution public key of a public/private key pair that includes the first financial institution private key. The first financial institution public key is verified that it is associated with a first financial institution. A second hash of the cross-border payment message is generated. The second hash is digitally signed with the first financial institution public key to generate a verification cross-border payment message, wherein data integrity of the cross-border payment message can be verified if the verification cross-border payment message matches the digitally signed cross-border payment message.

A computer-implemented method performed by an access economy payment system includes receiving a request from a consumer to commission an access economy service. The method also includes generating a smart contract based on the requested access economy service and generating a consumer sub-account associated with a consumer financial account and a supplier sub-account associated with a supplier financial account. The method further includes allocating funds to the supplier sub-account and placing a financial hold on the funds allocated to the supplier sub account. The method also includes detecting the initiation of performance of the requested access economy service, monitoring the performance of the initiated access economy service, increasing a financial hold on the funds allocated to the consumer sub-account, and decreasing the financial hold on the funds allocated to the supplier sub-account in real-time based on each of the monitored performance and the terms of the smart contract.

A system, method, and apparatus for providing a value transfer is provided. A method includes creating, by a mobile device, a value transfer message, the message including terms of a value transfer from an account of a sending party to a receiving party or one or more merchants; signcrypting, by the mobile device, the value transfer message using each of the receiving party's public key and the sending party's public and private keys; and sending, by the mobile device, the signcrypted value transfer message to the receiving party, wherein the receiving party can de-signcrypt the signcrypted value transfer message using each of the receiving party's public and private keys and the sending party's public key, and present the value transfer message to a third party to receive the value transfer.

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Hackensack, NJ, United States of America

Catherine Wangari Mwangi