Method and system for facilitating person-to-person payments

Abstract

A Person-to-person payments method and system may include receiving a request from a computer network to transfer funds from a first account to a second account, almost instantly. An alias (mobile number or email) is received and is associated with the second account and checked against a database. If the alias exists, multiple options may apply for transferring funds. Next, a secure party identifier is generated and the transfer may be completed. A Payments Switch Module may also communicate with a Third Party Payment Service Provider a request from a Sending or Receiving Financial Institution or party, to send or receive funds from a specific account held by the Third Party Payment Service Provider. This may occur on an adhoc, automatic, or scheduled basis enabling management of ‘personal cash concentration.’ This feature with the Third Party Payment Service Provider be characterized as a “Bring it Home” feature of the system.

1 . A computer-implemented method for facilitating person-to-person payments, comprising:
 receiving a request from a computer network to transfer funds from a first account to a second account;   receiving an alias from the computer network that is associated with the second account;   checking a database to determine if the alias exists;   if the alias exists, then generating a message for displaying one or more options on how the funds may be transferred from the first account to the second account;   transferring the message over the computer network;   receiving a selected transfer option from the computer network;   generating a secure party identifier; and   transmitting the secure party identifier and a confirmation of the selected transfer option across the computer network.   
     
     
         2 . The method of  claim 1 , further comprising verifying the selected transfer option against one or more risk thresholds. 
     
     
         3 . The method of  claim 2 , wherein the risk thresholds comprise at least one of a threshold assigned to a sender; a threshold assigned to a receiver; and a threshold assigned to a financial institution. 
     
     
         4 . The method of  claim 1 , wherein receiving an alias from the computer network further comprises receiving an alias that comprises at least one of a mobile telephone number and an e-mail address. 
     
     
         5 . The method of  claim 1 , wherein generating a secure party identifier further comprises generating an abbreviated alphanumeric expression that is derived from at least one of a name, mobile phone number, e-mail address, and mailing address associated with the alias. 
     
     
         6 . The method of  claim 1 , wherein the first and second accounts comprise accounts managed by financial institutions. 
     
     
         7 . The method of  claim 1 , wherein the first and second accounts comprise accounts managed by two different financial institutions. 
     
     
         8 . The method of  claim 1 , wherein the first account is a different type relative to the second account. 
     
     
         9 . The method of  claim 1 , wherein at least one of the accounts comprises a bank account. 
     
     
         10 . The method of  claim 1 , wherein the first account comprises a bank account and the second account does not comprise a bank account. 
     
     
         11 . A computer system for facilitating person-to-person payments, comprising:
 a processor operable for receiving a request from a computer network to transfer funds from a first account to a second account;   a processor operable for receiving an alias from the computer network that is associated with the second account;   a processor operable for checking a database to determine if the alias exists;   if the alias exists, then a processor operable for generating a message for displaying one or more options on how the funds may be transferred from the first account to the second account;   a processor operable for transferring the message over the computer network;   a processor operable for receiving a selected transfer option from the computer network;   a processor operable for generating a secure party identifier; and   a processor operable for transmitting the secure party identifier and a confirmation of the selected transfer option across the computer network.   
     
     
         12 . The system of  claim 11 , further comprising a processor operable for verifying the selected transfer option against one or more risk thresholds. 
     
     
         13 . The system of  claim 12 , wherein the risk thresholds comprise at least one of a threshold assigned to a sender; a threshold assigned to a receiver; and a threshold assigned to a financial institution. 
     
     
         14 . The system of  claim 12 , wherein a processor receiving an alias from the computer network further comprises the processor receiving an alias that comprises at least one of a mobile telephone number and an e-mail address. 
     
     
         15 . The system of  claim 11 , wherein a processor generating a secure party identifier further comprises a processor for generating an abbreviated alphanumeric expression that is derived from at least one of a name, mobile phone number, e-mail address, and mailing address associated with the alias. 
     
     
         16 . A computer system for facilitating person-to-person payments, comprising:
 means for receiving a request from a computer network to transfer funds from a first account to a second account;   means for receiving an alias from the computer network that is associated with the second account;   means for checking a database to determine if the alias exists;   means for generating a message for displaying one or more options on how the funds may be transferred from the first account to the second account if the alias exists;   means for transferring the message over the computer network;   means for receiving a selected transfer option from the computer network;   means for generating a secure party identifier; and   means for transmitting the secure party identifier and a confirmation of the selected transfer option across the computer network.   
     
     
         17 . The system of  claim 16 , further comprising means for verifying the selected transfer option against one or more risk thresholds. 
     
     
         18 . The system of  claim 17 , wherein the risk thresholds comprise at least one of a threshold assigned to a sender; a threshold assigned to a receiver; and a threshold assigned to a financial institution. 
     
     
         19 . The system of  claim 12 , wherein the means for receiving an alias from the computer network further comprises means for receiving an alias that comprises at least one of a mobile telephone number and an e-mail address. 
     
     
         20 . The system of  claim 16 , wherein the means for generating a secure party identifier further comprises means for generating an abbreviated alphanumeric expression that is derived from at least one of a name, mobile phone number, e-mail address, and mailing address associated with the alias.