Inventors:
Terry Allen-Rouman - South San Francisco CA, US
Jack Michael Arrington - Alamo CA, US
Keval Desai - Atherton CA, US
Robert Edwin Dravenstott - Foster City CA, US
Wendy D. Larson - Orinda CA, US
Scott J. Levokove - San Francisco CA, US
Peter Eric Philipp - San Francisco CA, US
Margaret Morgan Weichert - San Carlos CA, US
Assignee:
First Data Corporation - Greenwood Village CO
The Western Union Company - Englewood CO
International Classification:
G06Q 40/00
Abstract:
An electronic transaction method, funds transfer apparatus and method for facilitating a funds transfer. The methods comprise sending information from a purchaser or payor to a funds transfer system separate from a vendor system or payee, validating and confirming personal financial information at the funds transfer system, and transferring funds from a purchaser or payor account to the vendor or a payee account without exposing either party's financial and account information to the other. Additionally, a funds transfer apparatus is disclosed comprising connections to a payor and payee system and mechanisms for receiving and validating party and transaction information and a mechanism for transferring funds from one party to the other.