Patent attributes
A system, method, and apparatus for carrying out a value transfer is provided. A method includes receiving, by a computing system of a financial institution, a de-signcrypted value transfer message including terms of a value transfer from an account of a sending party to an account of a merchant, wherein a receiving party desires to make a purchase from the merchant and the value transfer is a payment from the sending party account to the merchant account; and one or more spending limitations on the desired purchase, wherein the payment is contingent on the desired purchase meeting the spending limitations. The method then includes verifying the authenticity of the de-signcrypted message using a public key of the sending party and a private key of the financial institution; and dispersing funds according to the terms of the value transfer.
