Patent ID: 8510188

Claim:
A method for performing a money transfer initiated by a receiver of the money transfer, the method comprising: receiving a money transfer initiation request from the receiver, the money transfer initiation request comprising: receiver information that identifies the receiver; first sender information that identifies a first sender and identifies a first communication address associated with the first sender; second sender information that identifies a second sender and identifies a second communication address associated with the second sender; and an amount of funds to be transferred to the receiver from either or both the first sender and the second sender; receiving, from the receiver, a selection of an objective for the money transfer from among a plurality of objectives; staging a money transfer transaction after receiving the money transfer initiation request, the money transfer transaction pending authorization by the first sender and the second sender to fund the money transfer; generating a transaction identifier for the money transfer transaction; providing the first sender with a notification of the money transfer transaction via the first communication address, the notification identifying: a first portion of the amount of funds to be received from the first sender, and an identification of the receiver, providing the second sender with a notification of the money transfer transaction via the second communication address, the notification identifying: a second portion of the amount of funds to be received from the second sender, and the identification of the receiver, receiving authorization from the first sender to fund the first portion of the amount of funds of the money transfer transaction; receiving authorization from the second sender to fund the second portion of the amount of funds of the money transfer transaction; receiving the first portion of the amount of funds from the first sender; receiving the second portion of the amount of funds from the second sender; and executing the money transfer to transfer the first portion of the amount of funds from the first sender to the receiver and to transfer the second portion of the amount of funds from the second sender to the receiver for payment of the objective.