Granted Patent B2

US 11,605,077 · App. 17/738,821 · Granted Mar 14, 2023

Inventors: Clinton Gilliam, III (San Francisco, CA); Melissa Lowry (San Francisco, CA); Michael Joseph Kennedy (San Francisco, CA); Sergei Lilichenko (Orinda, CA)

Assignee: EARLY WARNING SERVICES, LLC

G06Q20/40G06Q20/023G06Q20/10G06Q20/385G06Q20/3821G06Q20/405

Abstract

Claims (60)

1. A system comprising:

one or more processors; and

one or more non-transitory computer-readable media storing computing instructions that, when executed on the one or more processors, cause the one or more processors to perform:

receiving a request based on a sender initiating a funds transfer, wherein the funds transfer is for the sender to make a payment to a non-financial institution, and wherein the sender has a sender account at a sender financial institution;

obtaining sender identifying information from the sender; and

sending at least (a) the sender identifying information, (b) a recipient public identifier, and (c) a payment amount for the payment to the sender financial institution to cause the sender financial institution to (i) determine a funds availability of the sender account to initiate the funds transfer for the payment amount and (ii) send a funds transfer request to a computer-implemented funds transfer network to initiate the payment from the sender account at the sender financial institution to a recipient account at a recipient financial institution,

wherein:

the funds transfer request comprises the recipient public identifier and the payment amount;

the funds transfer request does not include an account number of the recipient account;

the computer-implemented funds transfer network comprises a first directory mapping the recipient public identifier to a recipient private identifier;

the recipient private identifier is embedded with information that identifies the recipient financial institution;

the recipient private identifier is not shared with the sender;

the computer-implemented funds transfer network is configured to send the recipient private identifier to the recipient financial institution to enable the recipient financial institution to map the recipient private identifier to the account number of the recipient account and make funds available to the recipient account in real-time for the payment; and

the computer-implemented funds transfer network is operated by an entity that is different from the recipient financial institution and the sender financial institution.

2. The system of claim 1 , wherein:

the non-financial institution is a merchant that provides goods or services to the sender; and

the payment is authorized by the sender to pay for the goods or the services.

3. The system of claim 1 , wherein:

the request is received at the non-financial institution from the sender.

4. The system of claim 1 , wherein sending comprises:

sending at least (a) the sender identifying information, (b) the recipient public identifier, and (c) the payment amount for the payment directly through a public network to the sender financial institution.

5. The system of claim 1 , wherein the funds transfer is initiated by the sender on a user interface displayed on a sender device.

6. The system of claim 5 , wherein the user interface enables the sender to authorize the payment amount.

7. The system of claim 1 , wherein the payment is settled as part of a scheduled automated clearing house (ACH) batch reconciliation after the recipient financial institution makes the funds available to the recipient account.

8. The system of claim 1 , wherein the recipient public identifier comprises an email address or phone number.

9. The system of claim 1 , wherein:

the recipient private identifier is a unique identifier across a plurality of financial institutions that are members of the computer-implemented funds transfer network; and

the plurality of financial institutions comprise the sender financial institution and the recipient financial institution.

10. The system of claim 1 , wherein:

the account number of the recipient account is not shared with the sender or the sender financial institution; and

the recipient private identifier is not shared with the sender.

11. A method implemented on one or more processors, the method comprising:

receiving a request based on a sender initiating a funds transfer, wherein the funds transfer is for the sender to make a payment to a non-financial institution, and wherein the sender has a sender account at a sender financial institution;

obtaining sender identifying information from the sender; and

sending at least (a) the sender identifying information, (b) a recipient public identifier, and (c) a payment amount for the payment to the sender financial institution to cause the sender financial institution to (i) determine a funds availability of the sender account to initiate the funds transfer for the payment amount and (ii) send a funds transfer request to a computer-implemented funds transfer network to initiate the payment from the sender account at the sender financial institution to a recipient account at a recipient financial institution,

wherein:

the funds transfer request comprises the recipient public identifier and the payment amount;

the funds transfer request does not include an account number of the recipient account;

the computer-implemented funds transfer network comprises a first directory mapping the recipient public identifier to a recipient private identifier;

the recipient private identifier is embedded with information that identifies the recipient financial institution;

the recipient private identifier is not shared with the sender;

the computer-implemented funds transfer network is configured to send the recipient private identifier to the recipient financial institution to enable the recipient financial institution to map the recipient private identifier to the account number of the recipient account and make funds available to the recipient account in real-time for the payment; and

the computer-implemented funds transfer network is operated by an entity that is different from the recipient financial institution and the sender financial institution.

12. The method of claim 11 , wherein:

the non-financial institution is a merchant that provides goods or services to the sender; and

the payment is authorized by the sender to pay for the goods or the services.

13. The method of claim 11 , wherein:

the request is received at the non-financial institution from the sender.

14. The method of claim 11 , wherein sending comprises:

sending at least (a) the sender identifying information, (b) the recipient public identifier, and (c) the payment amount for the payment directly through a public network to the sender financial institution.

15. The method of claim 11 , wherein the funds transfer is initiated by the sender on a user interface displayed on a sender device.

16. The method of claim 15 , wherein the user interface enables the sender to authorize the payment amount.

17. The method of claim 11 , wherein the payment is settled as part of a scheduled automated clearing house (ACH) batch reconciliation after the recipient financial institution makes the funds available to the recipient account.

18. The method of claim 11 , wherein the recipient public identifier comprises an email address or phone number.

19. The method of claim 11 , wherein:

the recipient private identifier is a unique identifier across a plurality of financial institutions that are members of the computer-implemented funds transfer network; and

the plurality of financial institutions comprise the sender financial institution and the recipient financial institution.

20. The method of claim 11 , wherein:

the account number of the recipient account is not shared with the sender or the sender financial institution; and

the recipient private identifier is not shared with the sender.

Assignments (5)

Continuity (9)