Patent ID: 8271381
Filing Date: 2012-09-18
Classification: G06Q

Abstract:
1. A system comprising: a first financial institution computer associated with a first financial institution, linked via a computer network to a payor's computer and a directory computer, said payor having at least one account at said first financial institution and having been authenticated to said first financial institution 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 financial institution computer said portion comprising said authenticated information for said payee; wherein said first financial institution computer is operable to maintain a second database comprising data from said portion of said first database; wherein said first financial institution computer is operable 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 financial institution to said payee's linked credit account located at a second financial institution, without using an intermediary account to transfer said payment; and wherein said second financial institution is obligated to reimburse said first financial institution for said payment if said payment information identifying said payee is inaccurate.