Systems and methods for executing real-time electronic transactions using graphical user interface

Abstract

Systems and methods of executing a real-time electronic transaction by a UI platform are disclosed. One method includes receiving an input selection by a user to indicate an originating account, receiving account, and payment amount. The system may transmit an option for the user to carry out the transaction by using a default payment setting, and upon the user selecting this option, determining the default payment setting, payment time or date, and a transaction cost, and displaying these to user. Alternatively, the system may transmit an option for the user to carry out the electronic transaction by the user defining the payment setting, and upon selection of this choice, performing payment optimization logic to display available payment settings, receiving a selection from the user of the chosen payment setting, and displaying the payment setting including the originating account, receiving account, payment amount, delivery time or date, and transaction cost.

What is claimed is: 
     
         1 . A computer-implemented method of identifying an optimal payment option during execution of an electronic transaction by a real time transaction system, the method comprising:
 receiving, at an application programing interface (API) of the real time transaction system, a selection from a user to initiate an electronic transaction using a default payment method;   determining, using a processor of the real time transaction system, whether a value of the electronic transaction is less than or equal to a predetermined threshold;   detecting, using the processor, one or more articles of context data associated with the electronic transaction;   identifying, based on the determining and the accessing, the optimal payment option; and   facilitating, subsequent to the identifying, processing of the electronic transaction using the optimal payment option.   
     
     
         2 . The computer-implemented method of  claim 1 , further comprising identifying, responsive to determining that the value of the electronic transaction is less than or equal to the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a real time payment option and another of the two available payment options is a same day automated clearing house (ACH) option.   
     
     
         3 . The computer-implemented method of  claim 2 , further comprising:
 ascertaining whether a receiving account for the electronic transaction is configured to participate in the real time payment option;   selecting, responsive to ascertaining that the receiving account is configured to participate in the real time payment option, the real time payment option as the optimal payment method; or   selecting, responsive to ascertaining that the receiving account is not configured to participate in the real time payment option, the same day ACH option as the optimal payment method.   
     
     
         4 . The computer-implemented method of  claim 1 , further comprising identifying, responsive to determining that the value of the electronic transaction is greater than the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a wire transfer option and another of the two available payment options is a standard automated clearing house (ACH) option.   
     
     
         5 . The computer-implemented method of  claim 4 , further comprising ascertaining whether a user preference exists for processing the electronic transaction via a fastest transfer method; and
 selecting, responsive to ascertaining that there is no user preference for processing the electronic transaction via the fastest transfer method, the standard ACH option as the optimal payment method.   
     
     
         6 . The computer-implemented method of  claim 5 , further comprising:
 determining, responsive to ascertaining that there is the user preference for processing the electronic transaction via the fastest transfer method, whether another user preference exists for processing the electronic transaction via a lowest transaction cost option;   selecting, responsive to determining that the another user preference does not exist for processing the electronic transaction via the lowest transaction cost option, the wire transfer as the optimal payment method; and   selecting, responsive to determining that the another user preference does exist for processing the electronic transaction via the lowest transaction cost option, the standard ACH option as the optimal payment method.   
     
     
         7 . The computer-implemented method of  claim 1 , wherein the one or more articles of context data comprise at least one of: geography data, holiday data, user preference data, user feedback data, and fraud data. 
     
     
         8 . A real-time transaction system for identifying an optimal payment option during execution of an electronic transaction, comprising:
 one or more computer readable media storing instructions for executing a real-time electronic transaction; and   one or more processors configured to execute the instructions to perform operations comprising:   receiving, at an application programing interface (API) of the real time transaction system, a selection from a user to initiate an electronic transaction using a default payment method;   determining, using a processor of the real time transaction system, whether a value of the electronic transaction is less than or equal to a predetermined threshold;   detecting, using the processor, one or more articles of context data associated with the electronic transaction;   identifying, based on the determining and the accessing, the optimal payment option; and   facilitating, subsequent to the identifying, processing of the electronic transaction using the optimal payment option.   
     
     
         9 . The real-time transaction system of  claim 8 , further comprising identifying, responsive to determining that the value of the electronic transaction is less than or equal to the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a real time payment option and another of the two available payment options is a same day automated clearing house (ACH) option.   
     
     
         10 . The real-time transaction system of  claim 9 , further comprising:
 ascertaining whether a receiving account for the electronic transaction is configured to participate in the real time payment option;   selecting, responsive to ascertaining that the receiving account is configured to participate in the real time payment option, the real time payment option as the optimal payment method; or   selecting, responsive to ascertaining that the receiving account is not configured to participate in the real time payment option, the same day ACH option as the optimal payment method.   
     
     
         11 . The real-time transaction system of  claim 8 , further comprising identifying, responsive to determining that the value of the electronic transaction is greater than the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a wire transfer option and another of the two available payment options is a standard automated clearing house (ACH) option.   
     
     
         12 . The real-time transaction system of  claim 11 , further comprising ascertaining whether a user preference exists for processing the electronic transaction via a fastest transfer method; and
 selecting, responsive to ascertaining that there is no user preference for processing the electronic transaction via the fastest transfer method, the standard ACH option as the optimal payment method.   
     
     
         13 . The real-time transaction system of  claim 12 , further comprising:
 determining, responsive to ascertaining that there is the user preference for processing the electronic transaction via the fastest transfer method, whether another user preference exists for processing the electronic transaction via a lowest transaction cost option;   selecting, responsive to determining that the another user preference does not exist for processing the electronic transaction via the lowest transaction cost option, the wire transfer as the optimal payment method; and   selecting, responsive to determining that the another user preference does exist for processing the electronic transaction via the lowest transaction cost option, the standard ACH option as the optimal payment method.   
     
     
         14 . The real-time transaction system of  claim 8 , wherein the one or more articles of context data comprise at least one of: geography data, holiday data, user preference data, user feedback data, and fraud data. 
     
     
         15 . A non-transitory computer-readable medium storing instructions for identifying an optimal payment option during execution of an electronic transaction, the instructions, when executed by one or more processors, causing the one or more processors to perform operations, comprising:
 receiving, at an application programing interface (API) of the real time transaction system, a selection from a user to initiate an electronic transaction using a default payment method;   determining, using a processor of the real time transaction system, whether a value of the electronic transaction is less than or equal to a predetermined threshold;   detecting, using the processor, one or more articles of context data associated with the electronic transaction;   identifying, based on the determining and the accessing, the optimal payment option; and   facilitating, subsequent to the identifying, processing of the electronic transaction using the optimal payment option.   
     
     
         16 . The non-transitory computer-readable medium of  claim 15 , further comprising identifying, responsive to determining that the value of the electronic transaction is less than or equal to the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a real time payment option and another of the two available payment options is a same day automated clearing house (ACH) option.   
     
     
         17 . The non-transitory computer-readable medium of  claim 16 , further comprising:
 ascertaining whether a receiving account for the electronic transaction is configured to participate in the real time payment option;   selecting, responsive to ascertaining that the receiving account is configured to participate in the real time payment option, the real time payment option as the optimal payment method; or   selecting, responsive to ascertaining that the receiving account is not configured to participate in the real time payment option, the same day ACH option as the optimal payment method.   
     
     
         18 . The non-transitory computer-readable medium of  claim 15 , further comprising identifying, responsive to determining that the value of the electronic transaction is greater than the predetermined threshold, two available payment options for the optimal payment method;
 wherein one of the two available payment options is a wire transfer option and another of the two available payment options is a standard automated clearing house (ACH) option.   
     
     
         19 . The non-transitory computer-readable medium of  claim 18 , further comprising ascertaining whether a user preference exists for processing the electronic transaction via a fastest transfer method; and
 selecting, responsive to ascertaining that there is no user preference for processing the electronic transaction via the fastest transfer method, the standard ACH option as the optimal payment method.   
     
     
         20 . The non-transitory computer-readable medium of  claim 19 , further comprising:
 determining, responsive to ascertaining that there is the user preference for processing the electronic transaction via the fastest transfer method, whether another user preference exists for processing the electronic transaction via a lowest transaction cost option;   selecting, responsive to determining that the another user preference does not exist for processing the electronic transaction via the lowest transaction cost option, the wire transfer as the optimal payment method; and   selecting, responsive to determining that the another user preference does exist for processing the electronic transaction via the lowest transaction cost option, the standard ACH option as the optimal payment method.