Patent ID: 9721243
Date: 2017-08-01
CPC Classifications: G06Q

Claim:
1. A non-transitory computer readable storage medium with an executable payment application stored thereon, the payment application configured for processing a transaction payment request associated with a merchant computer system over a communications network, the merchant providing a product to a subaccount consumer, wherein the payment application instructs a computer processor to perform the following steps of: establishing consumer code data upon registration by the subaccount consumer of a subaccount with a transaction interface separate from the merchant computer system associated with the merchant, the consumer code data representative of the subaccount of a main account also registered with the transaction interface, wherein a financial account is common to both the subaccount and the main account; receiving at least one of a preset spending threshold of the subaccount and one or more authorized transaction types of the subaccount; receiving from the consumer the transaction payment request associated with the subaccount via a network path that bypasses the computer system of the merchant; accessing the subaccount or main account using the consumer code data to obtain payment information related to the financial account rather than obtaining the financial account from the transaction payment request; confirming the transaction payment request satisfies at least one of the preset spending threshold of the subaccount and the one or more authorized transaction types of the subaccount; sending output to the subaccount consumer over the communications network including identification information pertaining to the merchant and the product data and confirmation based on said satisfies via the network path that bypasses the computer system of the merchant, the output for presentation to the subaccount consumer on a user interface of a mobile device running a client application of the payment application in order to communicate to the subaccount consumer processing of the transaction payment request; receiving authorization password information entered by the subaccount consumer via the user interface based on the output, the authorization password information received via the network path that bypasses the computer system of the merchant; matching the authorization password information with authorization information stored; and sending a confirmation of approval or denial of the payment confirmation request from the transaction interface based on the authorization password information, the confirmation of approval or denial for subsequent sending as additional output for presentation on the user interface to the subaccount consumer.