Patent ID: 8738521
Filing Date: 2014-05-27
Classification: G06Q,G07F

Abstract:
1. A computer implemented method for conducting financial transactions over a payment network, the method comprising: associating a payment address of an account with an account holder name, said account residing at a financial institution and said associated payment address of said account configured to allow withdrawals by the account holder only and to allow a plurality of deposits to be made at different times; freely publishing the payment address by storing the payment address in a computer memory accessible over the Internet and making said payment address available to users of an internet portal or search engine; receiving data transmitted by the user of the internet portal or search engine over the Internet identifying a deposit to be made to said account; assigning, using at least one computer processor, said deposit over the payment network to said account using the payment address; and notifying a payor of said deposit of the assigning of the deposit to the account, wherein the computer-implemented method comprises using at least one directory for associating the account holder name with the payment address.