Patent ID: 7979348
Filing Date: 2011-07-12
Classification: G06Q

Abstract:
1. A method comprising the steps of: receiving by a payment system a payment instruction including a payment system routing number and a unique code associated with a payee; and employing the payment system routing number to determine whether the payment system routing number includes routing information for a specific financial institution of the payment system, if the payment system routing number is determined to include routing information for a specific financial institution of the payment system, then transmitting the payment instruction based on the payment system routing number, wherein the transmitted payment instruction includes the unique code associated with the payee; and if the payment system routing number is determined to not include routing information for a specific financial institution of the payment system; then: retrieving account identification information of the payee and a first system routing number based on the unique code, replacing the unique code included in the payment instruction with the retrieved account identification information of the payee and replacing the payment system routing number with the retrieved first system routing number, and transmitting the payment instruction with the account identification information of the payee to at least one of the payee and a financial institution associated with the payee; wherein at least one of the steps above is performed by at least one computer processor.