US Patent Application 18142489. SYSTEM AND METHOD FOR FACILITATING TRANSFER OF ELECTRONIC PAYMENT INFORMATION simplified abstract
SYSTEM AND METHOD FOR FACILITATING TRANSFER OF ELECTRONIC PAYMENT INFORMATION
Organization Name
Inventor(s)
Michael Mossoba of Arlington VA (US)
Joshua Edwards of Philadelphia PA (US)
Abdelkader Benkreira of Washington DC (US)
SYSTEM AND METHOD FOR FACILITATING TRANSFER OF ELECTRONIC PAYMENT INFORMATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 18142489 titled 'SYSTEM AND METHOD FOR FACILITATING TRANSFER OF ELECTRONIC PAYMENT INFORMATION
Simplified Explanation
- The patent application describes a method for transferring payment account information. - The method involves receiving a payment information transfer request from an account holder device associated with a first provider account. - A list of payees, to whom electronic payments have been made from the first provider account, is transmitted to the account holder device for display. - The account holder selects at least one payee from the list. - A payment account information data file is created in a specific data format, containing payment account information for each selected payee. - The payment account information data file is then transmitted to either the account holder device or an information processing system of a second account provider.
- The method simplifies the process of transferring payment account information.
- It allows account holders to easily select payees from a list for payment transfers.
- The payment account information is organized and transmitted in a predetermined data format.
- The method can be used with different account providers, facilitating interoperability.
- It improves efficiency and convenience in managing payment account information transfers.
Original Abstract Submitted
In a method for transferring payment account information, a payment information transfer request is received from an account holder device associated with a first provider account. A list of payees to which electronic payments have been made from the first provider account is transmitted to the account holder device for display to the account holder and a user selection of at least one selected payee from the list of one or more payees is received from the account holder device. A payment account information data file is assembled in a predetermined data format, the file including payment account information for each selected payee. The payment account information data file is then transmitted to at least one of the set consisting of the account holder device and an information processing system of a second account provider.
