Early Warning Services, LLC

Wells Fargo Bank, N.a.

Clearxchange, LLC

Sri Saravana Muthu

Adam E Vancini

Jeffrey A Cornman

Brian Michael Pearce

Kevin Bouey

Imran Haider

Esther Pigg

John G Feldman

Alfonso McMillian

Melissa Lowry

Michael Joseph Kennedy

Sergei Lilichenko

Clinton Gilliam, Iii

Systems, methods for payment processing performed by one or more processors of a payment service computer system. One method includes receiving a fund transfer request from a recipient identifying a sender and a fund transfer amount. The method further includes identifying a financial institution associated with the sender. The method further includes determining the financial institution is not associated with the payment system. The method further includes selecting an authentication process for the recipient based on a level of risk. The method further includes performing the authentication process based on the level of risk, the authentication process including prompting the sender to provide information regarding the sender. The method further includes verifying accuracy of the information regarding the sender by scraping the information maintained by the financial institution using the access credentials and sending the fund transfer amount to the recipient.

System and method for transferring funds

A method including receiving a funds transfer request initiated by a sender to facilitate a transfer of funds to a recipient. The funds can be transferred from a sender account of the sender at a sender financial institution to a recipient account of the recipient at a recipient financial institution. The funds transfer request can include a public token for the recipient but not including an account number of the recipient account at the recipient financial institution. The public token for the recipient can be confirmed as useable to contact the recipient based on one or more responses by the recipient to one or more authentication request messages provided to the recipient using the public token. The method also can include determining a private token for the recipient account using an information directory based on the public token. The private token can be embedded with information that identifies the recipient financial institution. The method additionally can include providing the private token of the recipient account to the sender financial institution to enable the sender financial institution to initiate the transfer of the funds from the sender account to the recipient account. The account number of the recipient account is not shared with the sender by the sender financial institution or the recipient financial institution. Other embodiments are disclosed.

A method including storing a record in an information directory of a computer system. The method also includes receiving a confirmation that a particular identifier of the one or more public identifiers is useable to contact the recipient based on one or more responses to one or more authentication request messages. The method additionally includes receiving, through the computer network, a funds transfer request from a sender having a sender account at a second financial institution. The method further includes determining a private identifier for the recipient account using the information directory based on the particular public identifier of the one or more public identifiers. The method additionally includes sending the private identifier through the computer network to the second financial institution to facilitate, based on the funds transfer request, a transfer of funds from the sender account at the second financial institution to the recipient account at the first financial institution such that the second financial institution associates the transfer of the funds with the private identifier, such that the first financial institution uses the private identifier to determine the account number of the recipient to receive the transfer of the funds, and such that the first financial institution deposits the funds into the recipient account. Other embodiments of related systems and methods are disclosed.

System and method for securely registering a recipient to a computer-implemented funds transfer payment network

A method including receiving a funds transfer request from a sender through a computer network to facilitate a transfer of funds to a recipient. The method also can include determining that the recipient is not a registered user of the computer-implemented funds transfer payment network. The method additionally can include automatically transmitting an invitation to the recipient to join the computer-implemented funds transfer payment network. The invitation can be directed to the recipient using the token for the recipient from the funds transfer request by sending the invitation to the recipient using the token. The method further can include receiving a response to the invitation from the recipient. The method additionally can include collecting identifying information that identifies the recipient. The method further can include creating a record for the recipient in a database of registered users contained in the computer-implemented funds transfer payment network. The method additionally can include providing an identifier of the recipient account to the sender financial institution to enable the sender financial institution to initiate the transfer of the funds from the sender account to the recipient account. Other embodiments are disclosed.

A method including registering, by a computer system of a second financial institution, a recipient using at least one public identifier. The method also can include receiving an expedited funds transfer message. The method additionally can include determining the account number of the recipient account using the private identifier. The method further can include, before the second financial institution receives the sender funds, the second financial institution providing the recipient funds to the recipient account using the account number of the recipient account before the second financial institution receives the sender funds. The method additionally can include notifying the recipient, using at least one of the at least one public identifier, that a payment has been provided to the recipient account in real-time after initiation of the expedited funds transfer message from the first financial institution. Other embodiments are disclosed.

A method and system for payment processing comprises receiving sender information, receiving a fund transfer request that includes an identifier for a recipient, accessing an information directory based on the identifier to obtain account information for the recipient, and sending funds according to the fund transfer request to the recipient. The identifier may be in the form of non-sensitive/publicly available information, such as an E-mail address, a phone number, or other information. The information directory can correlate the identifier with a recipient owned bank account. The fund transfer may occur from two accounts within a bank or may occur from bank accounts at different banks.

A method for facilitating transfer of funds from a sender to a recipient, the method comprising: receiving a funds transfer request from the sender having a first account at a first financial institution, determining that the recipient is not registered with the payment network, transmitting an invitation to the recipient to join the payment network, receiving the token from the recipient in response to the invitation, collecting identifying information from the recipient including information, including an account number, regarding the second account, creating a first record for the recipient in a database of registered users, and creating a second record for the recipient in an out-of-network database, the second record including the account number for the second account.

A method for facilitating real time transfer of funds from a sender to a recipient includes receiving an expedited funds transfer request from the sender having a first account at a first financial institution, the recipient having a second account at a second financial institution, the first and second financial institutions being members of a computer-implemented payment network including a plurality of member financial institutions; and sending a message to the second financial institution to deposit funds into the second account, wherein the second financial institution deposits funds into the second account, and wherein the first financial institution settles with the second financial institution after the second financial institution deposits funds into the second account.

A computer-implemented payment processing method includes storing, by a computer system, information regarding a recipient in an account information directory, the account information directory being implemented in a data storage system, the information including a public identifier identifying the recipient, the public identifier including an e-mail address and/or a telephone number assigned to the recipient when the public identifier is stored in the account information directory; receiving, by the computer system, a funds transfer request identifying the recipient by the public identifier, the funds transfer request being received via a computer network; determining, by the computer system, a private identifier for the recipient based on the public identifier; and transmitting, by the computer system, a funds transfer message via a computer network to cause funds to be transferred from a sender to the recipient, the funds transfer message being generated using the private identifier.

A computer-implemented payment processing method includes receiving, by a first computer system, a funds transfer request from a sender having a first account at a first financial institution, the first financial institution being a member of a first computer-implemented payment network, the funds transfer request including an identifier for a recipient, the recipient having a second account at a second financial institution, the second financial institution being a member of a second computer-implemented payment network; based upon the identifier for the recipient, determining by the first computer system whether the recipient is registered with the second computer-implemented payment network; and upon determining that the recipient is registered with the second computer-implemented payment network, transmitting by the first computer system a funds transfer message via the first and second computer-implemented payment networks to cause funds to be transferred from the sender to the recipient.

A method includes registering a public identifier for a recipient, including authenticating the public identifier; receiving a funds transfer request to transfer funds from a sender to the recipient, the request including the public identifier and being received from a second computer system, the first and second computer systems being associated with a first and second entity, respectively, the recipient having an account at the first entity and the sender having an account at the second entity; identifying the recipient based on the public identifier, including identifying account number information for the recipient based on the public identifier; depositing the funds into the account of the recipient based on the identified account number information; and providing a warranty to the second entity that the public identifier is valid, wherein the first entity is responsible for refunding money to the sender if the identifier is not validly associated with the recipient.

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San Francisco, CA, United States of America

Sri Saravana Muthu