Patent ID: 8725635

Claim:
A method for online payment, the method comprising: receiving, by a computer device processor, payment instructions for the online payment from a financial institution customer via an online financial institution application, wherein the payment instructions includes an alias inputted by the financial institution customer associated with a payment recipient for the online payment, a payment amount, and an account associated with the financial institution customer for the online payment, wherein the payment recipient is one or more individuals or entities the financial institution customer is providing online payment, wherein the alias comprises at least one of a mobile phone number, an email address, or social network identification information of the payment recipient; determining, by the computing device processor, that the payment recipient is a registered payment recipient based at least in part on the alias associated with the payment recipient, wherein determining that the payment recipient is a registered payment recipient further comprises rejecting the online payment between the financial institution customer and the payment recipient if the payment recipient is not a registered payment recipient; determining, by the computing device processor, an alias account associated with the alias and registered payment recipient, wherein the alias account is a financial account associated with the registered payment recipient and that is identified to accept payment from the financial institution customer for the online payment, wherein the alias account is determined by matching the alias and registered payment recipient to a payment account that has been identified as being associated with the alias and the registered payment recipient; authorizing, by the computing device processor, a transfer for the online payment from the financial institution customer to the payment recipient based on the received payment instructions and that the payment recipient is a registered payment recipient based on the alias, wherein the transfer of the online payment from the financial institution customer to the payment recipient is authorized only if it is under a maximum amount pre-determined by the financial institution customer; communicating, by the computing device processor, a payment notification of the online payment to the payment recipient based on contact information associated with the payment recipient alias; and transferring, by the computer device processor, a payment amount from an account associated with the financial institution customer to the alias account associated with the alias of the payment recipient.