Electronic purchase method and funds transfer system

1. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for authorizing the electronic purchase during checkout with the user and the vendor system, the computer-readable medium comprising code for:

receiving, at a funds transfer system, purchase information from the vendor system, wherein the purchase information comprises a purchase price;

receiving, at the funds transfer system, selection of a private payment option from the user, the private payment option comprising indication of a choice for private transfer of financial information from the user to the funds transfer system;

establishing a secure connection from the funds transfer system to the user, wherein the secure connection is configured to prevent access by the vendor system during transfer of the financial information over the secure connection;

requesting user account information from the user;

receiving user account information from the user with funds transfer system via the secure connection;

transmitting, via the secure connection, a validation request to the purchaser;

receiving, via the secure connection, validation information from the purchaser in response to the validation request;

validating the received validation information with the funds transfer system;

crediting a vendor account in a first amount that corresponds to the purchase price if the step of validating the received validation information is successful; and

debiting the user account a second amount that corresponds to the purchase price if the step of validating the received validation information is successful.