System and Method of Recurring Payment Transactions

1 . A method of authenticating a recurring payment transaction, comprising:

retrieving account information, by one or more processors of an adaptive payment server, the account information comprising a payment date and an identification of a communication device of a payor;

initiating a communication to the communication device on or before the payment date;

communicating at least a portion of the account information to the communication device;

receiving, from the communication device, approval information;

determining whether to initiate payment of the recurring payment transaction using the approval information; and

initiating payment of the recurring payment transaction based on the determination.

2 . The method of claim 1 , wherein the communication device includes a telephone function, and wherein the identification of the communication device includes a phone number, said initiating the communication comprising calling the communication device using the phone number.

3 . The method of claim 2 , wherein the account information further comprises verification information predefined by the payor, the method further comprising:

communicating the verification information to the communication device, thereby enabling the payor to verify trustworthiness of the communication.

4 . The method of claim 3 , wherein the verification information includes a verbal utterance predefined by the payor, the method further comprising:

communicating the verbal utterance to the communication device.

5 . The method of claim 2 , wherein the account information includes payee contact information, the method further comprising:

receiving a hot transfer indication from the communication device;

interrupting the call and transferring the call to the payee using the payee contact information in response to the hot transfer indication.

6 . The method of claim 1 , wherein the approval information includes a predefined secret.

7 . The method of claim 6 , wherein the predefined secret includes a Personal Identification Number (PIN).

8 . The method of claim 7 , further comprising: encrypting the PIN substantially immediately after the PIN is received.

9 . The method of claim 1 , wherein the account information further comprises one or more of: an account number, a payment amount, a payee name, and an account balance.

10 . The method of claim 1 , further comprising: recording the communication.

11 . A system of authenticating a recurring payment transaction, comprising:

an adaptive payment server comprising one or more processors configured to:

retrieve account information, by one or more processors of the adaptive payment server, the account information comprising a payment date and an identification of a communication device of a payor;

initiate a communication to the communication device on or before the payment date;

communicate at least a portion of the account information to the communication device;

receive, from the communication device, approval information;

determine whether to initiate payment of the recurring payment transaction using the approval information; and

initiate payment of the recurring payment transaction based on the determination.

12 . The system of claim 11 , wherein the communication device includes a telephone function, and wherein the identification of the communication device includes a phone number, said initiate the communication comprising calling the communication device using the phone number.

13 . The system of claim 12 , wherein the account information further comprises verification information predefined by the payor, the adaptive payment server further configured to:

communicate the verification information to the communication device, thereby enabling the payor to verify trustworthiness of the communication.

14 . The system of claim 13 , wherein the verification information includes a verbal utterance predefined by the payor, the adaptive payment server further configured to:

communicate the verbal utterance to the communication device.

15 . The system of claim 12 , wherein the account information includes payee contact information, the adaptive payment server further configured to:

receive a hot transfer indication from the communication device;

interrupt the call and transferring the call to the payee using the payee contact information in response to the hot transfer indication.

16 . The system of claim 11 , wherein the approval information includes a predefined secret.

17 . The system of claim 16 , wherein the predefined secret includes a Personal Identification Number (PIN).

18 . The system of claim 17 , the adaptive payment server further configured to: encrypt the PIN substantially immediately after the PIN is received.

19 . The system of claim 11 , wherein the account information further comprises one or more of: an account number, a payment amount, a payee name, and an account balance.

20 . The system of claim 11 , the adaptive payment server further configured to: record the communication.