Systems and methods for making payments from selected funding sources

Abstract

In an embodiment, a payment service provider includes a database storing a plurality of buyer-identity/buyer's-payment-source-account associations, each having a unique identifier assigned thereto, and a payment service provider transaction device configured to: 1) communicate with at least one of a transaction device of the buyer and/or a transaction device of a seller; 2) receive an authorization from the buyer to make a payment from a selected one of the buyer's payment source accounts to a designated one of the seller's payment depository accounts, the authorization including a specified payment amount and the unique identifier associated with the selected buyer's payment source account from which the buyer desires the payment to be made; and 3) effect a transfer of the specified payment amount from the selected buyer's payment source account to the designated seller's account.

1 . A system, comprising:
 a database storing a plurality of associations formed by associating the identity of a buyer with each of a corresponding plurality of payment source accounts of the buyer, each of the buyer-identity/buyer's-payment-source-account associations having a unique identifier assigned thereto; and   a payment service provider transaction device configured to:
 communicate with at least one of a transaction device of the buyer and/or a transaction device of a seller; 
 receive an authorization from the buyer to make a payment from a selected one of the buyer's payment source accounts to a designated one of the seller's payment depository accounts, the authorization including a specified payment amount and the unique identifier associated with the selected buyer's payment source account from which the buyer desires the payment to be made; and 
 effect a transfer of the specified payment amount from the selected buyer's payment source account to the designated seller's account. 
   
     
     
         2 . The system of  claim 1 , wherein the unique identifier comprises a string of alphanumeric characters. 
     
     
         3 . The system of  claim 1 , wherein the service provider transaction device comprises a server configured to communicate with the at least one transaction device of the buyer and/or the seller via a public or a private data communication network. 
     
     
         4 . The system of  claim 3 , wherein the data communication network comprises a public switched telephone network (PSTN) or the Internet. 
     
     
         5 . The system of  claim 1 , wherein the payment service transaction device effects the transfer of the specified payment amount at least in part via a clearing house transaction device and an associated electronic funds transfer (EFT) network. 
     
     
         6 . A non-transitory machine-readable medium comprising a plurality of machine-readable instructions which when executed by one or more processors of a server are adapted to cause the server to perform a method comprising:
 accessing a database storing a plurality of associations formed by associating the identity of a buyer with each of a corresponding plurality of payment source accounts of the buyer, each of the buyer-identity/buyer's-payment-source-account associations having a unique identifier assigned thereto;
 communicating, electronically, with at least one of a transaction device of the buyer and/or a transaction device of a seller; 
   receiving an authorization from the buyer to make a payment from a selected one of the buyer's payment source accounts to a designated one of the seller's payment depository accounts, the authorization including a specified payment amount and the unique identifier associated with the selected buyer's payment source account from which the buyer desires the payment to be made; and   processing a transfer of the specified payment amount from the selected buyer's payment source account to the designated seller's account.   
     
     
         7 . The non-transitory machine-readable medium of  claim 6 , further comprising:
 inputting a password of the buyer to the payment service provider; and,   verifying the identity of the buyer with the password.   
     
     
         8 . The non-transitory machine-readable medium of  claim 7 , wherein the password comprises a string of alphanumeric characters. 
     
     
         9 . The non-transitory machine-readable medium of  claim 6 , wherein the method further comprises:
 determining whether the selected buyer's payment source account has sufficient funds to effect the transfer of the specified payment amount, and   if the selected buyer's payment account does not have sufficient funds to effect the transfer, returning an insufficient funds message to the buyer.   
     
     
         10 . The non-transitory machine-readable medium of  claim 9 , wherein the method further comprises:
 prompting the buyer for the entry of the unique identifier of an alternate buyer's payment source account from which to make the payment.   
     
     
         11 . The non-transitory machine-readable medium of  claim 9 , wherein the method further comprises:
 prompting the buyer for the entry of the unique identifiers of additional payment source accounts of the buyer; and,   effecting the payment from a combination of the additional payment source accounts.   
     
     
         12 . The non-transitory machine-readable medium of  claim 6 , wherein the method further comprises:
 confirming that the specified payment amount has been transferred from the selected buyer's payment source account to the designated seller's payment depository account;   transmitting a payment successful message to at least one of the buyer and/or the seller; and,   storing details of the payment transaction in a database of the service provider.   
     
     
         13 . A method for enabling a payee to receive a payment from a payer, the method comprising:
 accessing a database storing a plurality of associations formed by associating the identity of the payer with each of a corresponding plurality of payment source accounts of the payer, each of the payer-identity/payer's-payment-source-account associations having a unique identifier assigned thereto;
 communicating, electronically, with at least one of a transaction device of the payer and/or a transaction device of the payee; 
 receiving an authorization from the payer to make a payment from a selected one of the payer's payment source accounts to a designated one of the payee's payment depository accounts, the authorization including a specified payment amount and the unique identifier associated with the selected payer's payment source account from which the payer desires the payment to be made; and 
   processing, by a hardware processor of a payment service provider, a transfer of the specified payment amount from the selected payer's payment source account to the designated payee's account.   
     
     
         14 . The method of  claim 13 , further comprising:
 using the payer's transaction device to input a password of the payer to the transaction device of the payment service provider; and,   verifying the identity of the payer with the password.   
     
     
         15 . The method of  claim 14 , wherein the password comprises a string of alphanumeric characters. 
     
     
         16 . The method of  claim 13 , wherein the payer's transaction device comprises a payment card and the payee's transaction device comprises a card reader. 
     
     
         17 . The method of  claim 13 , wherein the payee's transaction device comprises an automated teller machine (ATM). 
     
     
         18 . The method of  claim 13 , wherein:
 the payer's transaction device comprises a mobile telephone, a personal digital assistant (FDA) or a personal computer (PC) provided with a web browser and a communication device coupled to the internet,   the payee's transaction device comprises a web server located remotely from the payer's device that is equipped with a communication device coupled to the internet and adapted to host a web-based marketplace for the sale or auction of goods and services, and   the method further comprises the payer remotely accessing payment application software provided on the web server to effect the payment.   
     
     
         19 . The method of  claim 13 , wherein the designated payee's payment depository account comprises a postal or an e-mail address of the payee, and further comprising utilizing the payment service provider to transmit a check to the postal or e-mail address of the payee. 
     
     
         20 . The method of  claim 13 , further comprising sending a message to the payer, the payee or both the payer and the payee confirming that the specified payment amount has been successfully transferred from the selected payer's account to the designated payee's account.