Patent ID: 9336520
Filing Date: 2016-05-10
CPC Classification: G06Q

Claim Text:
1. A transaction system for coordinating remote processing of a funds transfer transaction between a merchant and a consumer remotely over a communications network, the transaction system comprising: a computer processor coupled to a memory, wherein the computer processor is programmed to coordinate processing of the funds transfer transaction by: generating a barcode based on a request received from a computer device of the merchant, the barcode comprising merchant identification information and product information encoded in symbology information; sending the barcode over the communications network for eventual receipt by a computer device of the consumer; receiving from the computer device of the consumer over the communications network the merchant identification information, the product information and the consumer identification information such that at least one of the merchant identification information or the product information is obtained from the symbology information of the barcode, said receiving absent a funds amount; using at least one of the merchant identification information or product information decoded from the barcode as a reference code to look up the funds amount from an associated record stored in memory; generating a funds transfer request for the funds transfer transaction, the funds transfer request having content including the funds amount and financial account information pertaining to at least one of the merchant identification information or the consumer identification information, such that at least a portion of the content includes the unencoded information decoded from the symbology information; before sending a funds transfer request, requesting confirmation from the consumer over the communications network that the funds amount is correct and receiving a confirmation in response from the consumer over the communications network; and sending the funds transfer request to a transaction processing system for subsequent settlement to effect transfer of funds representing the funds amount from a financial account of the consumer to a financial account of the merchant.