Patent ID: 11888995
Assignee: WELLS FARGO BANK, N.A.
Field: Digital communication (Electrical engineering)
Classification: CPC H  G | IPC G  H

Claim 6:
7. A method of providing a value transfer, comprising:
signcrypting, by a mobile device, a transfer verification token using each of public and private keys of a sending party and a public key of a financial institution;
generating, by the mobile device, a value transfer message, the value transfer message including:
terms of a value transfer from an account of the sending party to one of a receiving party or one or more merchants, and
the signcrypted transfer verification token;

signcrypting, by the mobile device, the value transfer message using each of the public and private keys of the sending party and a public key of the receiving party;
sending, by the mobile device, the signcrypted value transfer message to the receiving party; and
wherein the receiving party can de-signcrypt the signcrypted value transfer message using each of the public key and a private key of the receiving party and the public key of the sending party, and present the value transfer message to the financial institution to receive the value transfer,
wherein the financial institution can, prior to providing the value transfer to the receiving party, de-signcrypt the signcrypted transfer verification token using a private key of the financial institution to verify that the sending party authorized the value transfer,
wherein generating the value transfer message further comprises creating a list of merchants the receiving party can make a purchase from, and
wherein the value transfer includes a payment from the sending party account to one or more accounts of the one or more merchants from the list of merchants.