Patent ID: 7110980

Claim:
A data processing system for facilitating electronic transfer of funds, said data processing system comprising: a processor for processing digital data; a memory coupled to said processor for storing digital data; means, coupled to said memory, for inputting digital data; and a transfer administrator configured as an application program, said application program stored in said memory and accessible by said processor for directing processing of digital data by said processor; said transfer administrator configured to perform the steps of: receiving an incoming exempt payment request designating a transferor institution, a quantity of funds to be transferred, and a transferee institution, wherein said payment request includes a first transfer protocol; generating a translated and participating payment order by translating said first transfer protocol to a second transfer protocol, wherein said translated and participating payment order is based at least in part on said incoming exempt payment request, and wherein said translated and participating payment order includes said second transfer protocol; and facilitating communication of said translated and participating payment order to said transferee institution, whereby funds are electronically transferred from said transferor institution to said transferee institution.