Real time EFT network-based person-to-person transactions

1. A method of processing a person-to-person payment transaction via a sender communication device and a receiver communication device, comprising:

receiving, by an adaptive payment server and from the sender communication device via a first communication channel, a request to initiate the person-to-person payment transaction, the request comprising a debit card number identifying a sender account of the sender;

identifying, by the adaptive payment server, a second communication channel to the sender communication device based on the debit card number associated with the sender;

initiating, by the adaptive payment server and in response to the request to initiate the person-to-person payment transaction, a communication to the sender communication device via the second communication channel, where the second communication channel is different from the first communication channel;

prompting the sender, by the adaptive payment server and through the sender communication device via the second communication channel, to input a Personal Identification Number (PIN) for the sender account, wherein the PIN is sufficient to authenticate the sender account of the sender;

receiving, by the adaptive payment server, the PIN for the sender account from the sender communication device via the second communication channel;

receiving, by the adaptive payment server, a debit card number associated with a receiver from a receiver communication device;

determining, by the adaptive payment server, the sender account based on the debit card number associated with the sender;

authenticating the sender account with the PIN received from the sender through the second communication device via the second communication channel;

determining, by the adaptive payment server, a receiver account based on the debit card number associated with the receiver;

generating, by the adaptive payment server and in response to the authenticating the sender account, an electronic funds transfer (EFT) request, wherein the EFT request comprises the sender account, the receiver account, the PIN, and a transfer fund amount; and

initiating, by the adaptive payment server, an EFT transaction by providing the EFT request to an EFT payment network to process the person-to-person payment transaction thereby causing the transfer fund amount to be transferred from the sender account and to the receiver account.

2. The method of claim 1 , wherein the method further comprises determining whether the sender account has sufficient funds to cover the transfer fund amount.

3. The method of claim 1 , further comprising:

communicating a notification indicative of an incoming funds transfer to the receiver communication device, wherein the notification comprises a confirmation number.

4. The method of claim 1 ,

wherein the transfer fund amount is debited from the sender account and credited to the receiver account in response to the EFT request.

5. The method of claim 1 , wherein said initiating a communication further comprises:

determining a telephone number associated with the sender communication device based on the debit card number associated with the sender; and

calling, by an interactive voice response (IVR) system associated with the adaptive payment server, the sender communication device using the telephone number, wherein the sender communication device includes a telephone function.

6. A system of processing a person-to-person payment transaction via a sender communication device and a receiver communication device, comprising:

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

receive, from the sender communication device via a first communication channel, a request to initiate the person-to-person payment transaction, the request comprising a debit card number identifying a sender account of the sender;

identify a second communication channel to the sender communication device based on the debit card number associated with the sender;

initiate, in response to the request to initiate the person-to-person payment transaction, a communication to the sender communication device via the second communication channel, where the second communication channel is different from the first communication channel;

prompt the sender, by the adaptive payment server and through the sender communication device via the second communication channel, to input a Personal Identification Number (PIN) for the sender account, wherein the PIN is sufficient to authenticate the sender account of the sender;

receive the PIN for the sender account from the sender communication device via the second communication channel;

receive a debit card number associated with a receiver from a receiver communication device;

determine the sender account based on the debit card number associated with the sender;

authenticate the sender account with the PIN received from the sender through the second communication device via the second communication channel;

determine a receiver account based on the debit card number associated with the receiver;

generate, in response to authenticating the sender account, an electronic funds transfer (EFT) request, wherein the EFT request comprises the sender account, the receiver account, the PIN, and a transfer fund amount; and

initiate an EFT transaction by providing the EFT request to an EFT payment network to process the person-to-person payment transaction thereby causing the transfer fund amount to be transferred from the sender account and to the receiver account.

7. The system of claim 6 ,

wherein the one or more processors are further configured to-determine whether the sender account has sufficient funds to cover the transfer fund amount.

8. The system of claim 6 , wherein the one or more processors are further configured to:

communicate a notification indicative of an incoming funds transfer to the receiver communication device, wherein the notification comprises a confirmation number.

9. The system of claim 6 , wherein

the transfer fund amount is debited from the sender account and credited to the receiver account in response to the EFT request.

10. The system of claim 6 , wherein the one or more processors configured to initiate a communication are further configured to:

determine a telephone number associated with the sender communication device based on the debit card number associated with the sender; and

call, by an interactive voice response (IVR) system associated with the adaptive payment server, the sender communication device using the telephone number, wherein the sender communication device includes a telephone function.

11. A method of processing a person-to-person payment transaction via a sender mobile communication device and a receiver mobile communication device, comprising:

receiving, by an adaptive payment server and from the sender mobile communication device via a first communication channel, a request to initiate the person-to-person payment transaction, the request comprising a debit card number identifying a sender account of a sender, an identifier associated with a receiver, and a transfer fund amount;

identifying the sender mobile communication device using the debit card number of the sender account of the sender

initiating, by the adaptive payment server and in response to the request to initiate the person-to-person payment transaction, a communication to the identified sender mobile communication device via a second communication channel to prompt the sender to enter a Person Identification Number (PIN) for the sender account, wherein the PIN is sufficient to authenticate the sender account of the sender, where the second communication channel is different from the first communication channel;

receiving, by the adaptive payment server, the PIN via the second communication channel, the PIN entered by the sender in response to the prompt;

authenticating, by the adaptive payment server, the sender account with the PIN received via the second communication channel;

determining, by the adaptive payment server, whether the sender account has sufficient funds to cover the transfer fund amount;

communicating, by the adaptive payment server, a confirmation message to the sender mobile communication device, wherein the confirmation message indicates that the person-to-person payment transaction has been approved;

determining, by the adaptive payment server, a receiver mobile communication device and a receiver account based on the identifier associated with the receiver;

communicating, by the adaptive payment server, a notification to the receiver mobile communication device, wherein the notification notifies the receiver of an incoming person-to-person payment transaction;

generating, by the adaptive payment server and in response to the authenticating the sender account, an electronic funds transfer (EFT) request to initiate a funds transfer from the sender account to the receiver account, wherein the EFT request comprises the sender account, the receiver account, the PIN and the transfer fund amount; and

sending the EFT request via an EFT payment network to process the person-to-person payment transaction thereby causing the transfer fund amount to be transferred from the sender account and to the receiver account.