Electronic funds transfer

Details Electronic funds transfer Electronic funds transfer

G - Physics

06

Q

G06Q 20/10 (2012.01) H04L 12/16 (2006.01)

Patent

CA 2530250

A consumer may make an electronic bill payment from his financial institution account to an intermediary for a certain amount. Data related to the bill payment transaction may be sent to a facilitation server associated with the intermediary. This data may be filtered to determine whether or not the data represents a valid bill payment transaction. If it does, an intermediate account provided by the intermediary, or an account of a third party (such as an on- line merchant) may be immediately credited with the amount of the bill payment so that the consumer can immediately use those funds in an on-line purchase.

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