Patent ID: 7184980

Claim:
A method for transferring funds between a payor and a payee in an online transaction, the method comprising: receiving information from the payor at a funds transfer server via a network for debiting a bank account associated with the payor, wherein said information comprises payor personal information including information regarding said bank account associated with the payor and information regarding online transaction data including a total amount for the online transaction; transmitting to the payee from said funds transfer server via a network authorization to request debits from the payor, wherein a total of all debit requests does not exceed an said total amount for the online transaction; receiving a first request at said funds transfer server from the payee to debit the payor a first portion of the amount; initiating a first debit via said funds transfer server from the bank account for the first portion of the amount; receiving a second request at said funds transfer server from the payee to debit the payor a second portion of the amount; and initiating a second debit via said funds transfer server from the bank account for the second portion of the amount; wherein said payee does not have access to said payor personal information via said funds transfer server.