Patent ID: 8596547

Claim:
A processor-implemented method, comprising: receiving at a wireless device account data corresponding to a data-bearing payment card; receiving at the wireless device instructions to initiate transfer of funds from a sender account corresponding to the data-bearing payment card to a receiver account, said instructions including a receiver identifier; sending an authorization entity a triggering message including the account data, the receiver identifier and an amount to initiate the authorization entity and configured to trigger: sending an authorization request to an issuer of the sender account; said authorization request including receiver account identifier and amount to be transferred; obtaining, in response to the authorization request, an authorization response authorizing the transfer of funds from the sender account to an issuer of the receiver account; instructing the issuer of the receiver account to credit the receiver account for the transferred amount when the authorization response confirms the transfer of funds to the issuer of the receiver account; receiving a confirmation from the issuer of the receiver account confirming the crediting of the receiver account; and receiving at the wireless device confirmation of the transfer of funds to the receiver account from the authorization entity.