Patent ID: 6721716
Filing Date: 2004-04-13
Classification: G06Q

Abstract:
A computerized system for generating an electronic payment instruction from a source of funds of a customer and validating said source of funds, said system comprising:a client application operable by a customer; said client application including computer processor means for generating in response to input of a customer unique funding account information identifying a source of funds for making electronic payments; said client application including processor means for generating a payment certification string from said unique funding account information, said payment certification string including a validation indicating portion initially indicating that said unique funding account information is invalid at the time said payment certification string is generated; said client application including processor means for extracting said unique funding account information from said payment certification string only if said validation indicating portion indicates that said unique funding account information is valid; a validation server in electronic communication with said client application; means for establishing a secure electronic communication channel between said client application and said validation server; said client application including means for communicating said unique funding account information extracted from said payment certification string to said validation server over said secure electronic communication channel; said validation server including means for confirming that said unique funding account information is sufficient to enable the processing of an electronic payment from said source of funds; said validation server including processor means for generating a validation string specifically associated with said unique funding account information only if said unique funding account information is confirmed; said validation server including means for communicating said validation string to said client application over said secure electronic communication channel; said client application including processor means for modifying said validation indicating portion to indicate that said unique funding account information is valid only if said validation string has been received from said validation server; and said client application including means for generating in response to input from said customer an electronic payment instruction authorizing payment to a biller from said source of funds, said electronic payment instruction including said unique funding account information extracted from said payment certification string only if said validation indicating portion indicates that said unique funding account information is valid.