Patent ID: 11961055

Abstract:
Disclose herein are systems and methods for enabling a payer with an account at a financial institution (e.g., a bank) to send a payment to a payee by submitting, via a financial application of the financial institution, the payee's identifier, where the funds associated with the payment are transferred from a financial account associated with a third-party, remote computer system of a payment service (“PSS”), directly to the payee substantially instantaneously upon the payer's request. The payment request is processed based on communications between a computer system of the financial institution (“financial institution system”), a mobile financial application installed on the payer's mobile device, and the PSS. The PSS identifies the payee's financial account and executes, or triggers execution of, the transfer of funds. The PSS further requests a reimbursement of the payment from the payer's financial account to the financial account associated with the PSS.