Patent ID: 8751379

Claim:
A system for conducting a money transfer between a payer using a first handheld mobile device and a payee using a second handheld mobile device, the system comprising: a computer, operated at the direction of a financial institution, the computer having a processor programmed to: receive a money transfer message initiated by the payer from the first handheld mobile device, wherein the payer is a customer of the financial institution and is a registered user of the system, wherein the money transfer message identifies the payee and includes contact information for the payee; scan the money transfer message for a set of money transfer information including a name of the payee, a number of the second handheld mobile device, a transfer amount, and an account number of the payer; generate a unique transaction ID based on the money transfer message; provide first transaction information concerning the money transfer to the second handheld mobile device, the first transaction information including the unique transaction ID, a name of the payer, the transfer amount, and a hyperlink to a webpage of the financial institution, the hyperlink having an expiration; receive at the financial institution from the second handheld mobile device, second transaction information concerning the money transfer, the second transaction information including the unique transaction ID and a name of the payer, wherein at least a portion of the second transaction information including the unique transaction ID is automatically entered into the webpage using the hyperlink; verify at the financial institution the second transaction information by comparing the second transaction information to the first transaction information; and conduct the money transfer at the financial institution after verifying the second transaction information.