Abstract

A method of conducting a financial transaction includes a first party's financial account information being entered once, e.g, with a single initial entry to the payment service. For future uses of the first party's financial account to transfer funds using the payment service to a second party, the first party's financial account information need not be entered again with the payment service. The second party's personal identifying information is entered. Funds are transferred from the first party's financial account to an account of the second party with the use of the payment service.

IPC Classes  ?

• G06K 7/08 - Methods or arrangements for sensing record carriers by means detecting the change of an electrostatic or magnetic field, e.g. by detecting change of capacitance between electrodes
• G06K 5/00 - Methods or arrangements for verifying the correctness of markings on a record carrier; Column-detection devices
• G07F 7/08 - Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card
• G06Q 20/10 - Payment architectures specially adapted for home banking systems
• G06Q 20/24 - Credit schemes, i.e. "pay after"
• G06Q 20/32 - Payment architectures, schemes or protocols characterised by the use of specific devices using wireless devices
• G06Q 20/34 - Payment architectures, schemes or protocols characterised by the use of specific devices using cards, e.g. integrated circuit [IC] cards or magnetic cards
• G06Q 30/06 - Buying, selling or leasing transactions
• G06Q 40/02 - Banking, e.g. interest calculation or account maintenance