Online payment system and method

Abstract

System, method, and computer program product are provided for a user to send and receive P2P payments using the Internet. Through the use of a network, a user may access accounts the user has at a financial institution and direct payments to other individuals or entities using the other individuals or entities alias. In this way, the user may ensure a secure payment to a third-party through the network associated with a financial institution. The payments may be directed to individuals the user may input into the system by providing the user's alias. A user's alias may be a unique identifier of the user and tied to a financial account of that user. In this way, the sender of the P2P payments may input the recipient's alias and transfer funds via the P2P payment system without having to input the recipient's account information.

What is claimed is: 
     
         1 . A method for online payment, the method comprising:
 receiving payment instructions from a financial institution customer, wherein the payment instructions include a payment account, a payment amount, and an alias associated with a payment recipient;   determining, via a computing device processor, that the payment recipient is a registered payment recipient based at least in part on the alias associated with the payment recipient received from the financial institution customer;   communicating a payment notification to the payment recipient based on the payment recipient being the registered payment recipient; and   transferring the payment amount from an account associated with the financial institution customer to an account associated with the alias of the payment recipient.   
     
     
         2 . The method of  claim 1  further comprising monitoring online payments associated with an alias associated with the financial institution customer, such that online payment history may be determined and provided to the financial institution customer through the alias associated with the financial institution customer. 
     
     
         3 . The method of  claim 1  further comprising:
 determining that the payment instructions are received by a customer not associated with the financial institution; and 
 providing the customer not associated with the financial institution an opportunity to opt-in to receive and send online payments by providing the customer not associated with the financial institution an alias. 
 
     
     
         4 . The method of  claim 1  further comprising determining the payment account of the payment recipient based on the alias associated with the payment recipient. 
     
     
         5 . The method of  claim 1 , wherein the alias comprises personal identification information about the payment recipient, such that the alias is unique to the payment recipient, wherein the alias comprises at least one of a mobile phone number, an email address, or social network identification information of the payment recipient. 
     
     
         6 . The method of  claim 1 , wherein the transferring of the payment amount from the account associated with the financial institution customer to an account associated with the alias of the payment recipient is based at least in part on the payment notification. 
     
     
         7 . A computer program product for online payment, the computer program product comprising a computer-readable medium having computer-executable instructions for performing:
 receiving payment instructions from a financial institution customer, wherein the payment instructions include a payment account, a payment amount, and an alias associated with a payment recipient;   determining, via a computing device processor, that the payment recipient is a registered payment recipient based at least in part on the alias associated with the payment recipient received from the financial institution customer;   communicating a payment notification to the payment recipient based on the payment recipient being the registered payment recipient; and   transferring the payment amount from an account associated with the financial institution customer to an account associated with the alias of the payment recipient.   
     
     
         8 . The computer program product of  claim 7  further comprising monitoring online payments associated with an alias associated with the financial institution customer, such that online payment history may be determined and provided to the financial institution customer through the alias associated with the financial institution customer. 
     
     
         9 . The computer program product of  claim 7  further comprising:
 determining that the payment instructions are received by a customer not associated with the financial institution; and 
 providing the customer not associated with the financial institution an opportunity to opt-in to receive and send online payments by providing the customer not associated with the financial institution an alias. 
 
     
     
         10 . The computer program product of  claim 7  further comprising determining the payment account of the payment recipient based on the alias associated with the payment recipient. 
     
     
         11 . The computer program product of  claim 7 , wherein the alias comprises personal identification information about the payment recipient, such that the alias is unique to the payment recipient, wherein the alias comprises at least one of a mobile phone number, an email address, or social network identification information of the payment recipient. 
     
     
         12 . The computer program product of  claim 7 , wherein the transferring of the payment amount from the account associated with the financial institution customer to an account associated with the alias of the payment recipient is based at least in part on the payment notification. 
     
     
         13 . A system for online payment, the system comprising:
 a computer apparatus including a processor and a memory; and   an online payment module stored in the memory, executable by the processor and configured to:
 receive payment instructions from a financial institution customer, wherein the payment instructions include a payment account, a payment amount, and an alias associated with a payment recipient; 
 determine that the payment recipient is a registered payment recipient based at least in part on the alias associated with the payment recipient received from the financial institution customer; 
 communicate a payment notification to the payment recipient based on the payment recipient being the registered payment recipient; and 
 transfer the payment amount from an account associated with the financial institution customer to an account associated with the alias of the payment recipient. 
   
     
     
         14 . The system of  claim 13  further comprising monitoring online payments associated with an alias associated with the financial institution customer, such that online payment history may be determined and provided to the financial institution customer through the alias associated with the financial institution customer. 
     
     
         15 . The system of  claim 13  further comprising:
 determining that the payment instructions are received by a customer not associated with the financial institution; and 
 providing the customer not associated with the financial institution an opportunity to opt-in to receive and send online payments by providing the customer not associated with the financial institution an alias. 
 
     
     
         16 . The system of  claim 13  further comprising determining the payment account of the payment recipient based on the alias associated with the payment recipient. 
     
     
         17 . The system of  claim 13 , wherein the alias comprises personal identification information about the payment recipient, such that the alias is unique to the payment recipient, wherein the alias comprises at least one of a mobile phone number, an email address, or social network identification information of the payment recipient. 
     
     
         18 . The system of  claim 13 , wherein the transferring of the payment amount from the account associated with the financial institution customer to an account associated with the alias of the payment recipient is based at least in part on the payment notification.