Patent ID: 7945511
Filing Date: 2011-05-17
Classification: G06Q

Abstract:
1. A system comprising: a first bank computer at a first bank, linked via a computer network to a payor's computer and a directory computer, said payor having at least one account at said first bank and having been authenticated to said first bank computer; wherein said directory computer is configured to maintain a first database of authenticated registrant information comprising authenticated information for a payee identifying via a publicly available identifier at least one linked credit account of said payee and to provide a portion of said first database via said computer network to said bank computer said portion comprising said authenticated information for said payee; wherein said first bank computer is configured to maintain a second database comprising data from said portion of said first database; wherein said first bank computer is configured to receive payment information from said payor computer identifying said payee via said registrant information, map said information identifying said payee to said linked credit account of said payee using said portion of said first database and said registrant information, and transmit a payment directly from said payor's at least one account at said first bank to said payee's linked credit account located at a second bank, without using an intermediary to transfer said payment; and wherein said second bank is obligated to reimburse said first bank for said payment if said payment information identifying said payee is inaccurate.