Patent ID: 8458088

Claim:
A method of transferring funds between mobile devices, the method comprising: establishing a first funds transfer account associated with a first mobile device and a second funds transfer account with a second mobile device; funding at least the first fund account; selecting, by manipulation of a display screen on the first mobile device, the second mobile device as recipient of a funds transfer from the first mobile device; sending a direct near field communications link request from the first mobile device to the second mobile device; displaying on a display screen of the second device the direct near field communications link request; receiving acceptance of the communications link request from the second mobile device; in response to the acceptance, establishing a direct communications link between the first mobile device and the second mobile device; initiating a funds transfer from the first mobile device to the second mobile device, wherein the amount is designated at the first mobile device; verifying, by a processing center, the funds transfer amount, the first funds transfer account, and the second funds transfer account; in response to verification of the funds transfer, initiating transfer of, in real-time, the amount to the second funds transfer account associated with second mobile device; receiving acceptance, by manipulation of the display screen on the second mobile device, of the funds transfer; and in response to the acceptance, displaying on the display screen of the second mobile device and the display screen of the first mobile device a confirmation message indicating that the funds transfer has been completed.