Patent attributes
The invention relates to a computer-implemented system and method for sending a person to person (P2P) payment to a recipient, according to one example. The method may be conducted on a specially programmed computer system comprising one or more computer processors, mobile devices, electronic storage devices, and networks. The method may comprise the steps of: sending to the recipient electronically a notification of the payment from the sender, the notification including an amount of the payment; sending to the recipient electronically an indication of at least two of the following payment options: payment to a deposit account, payment to a transaction card account, payment to a third party P2P system, and payment in the form of a merchant electronic gift certificate; receiving from the recipient electronically a selection as to one of the payment options, including: (a) in the case of a deposit account, a routing number and account number, (b) in the case of a transaction card account, a card number, expiration date, and a card verification value (CVV), (c) in the case of a third party P2P system, an account identifier, or (d) in the case of a merchant electronic gift certificate, the merchant; and sending the payment electronically to the recipient via the recipient's selected payment option without requiring the recipient to open a new account or verify an existing account.
