US 11,756,007 B2
Method and system for open-loop person-to-person payments
Alan Ferguson, Dubai (AE); Ravi Kapoor, Dubai (AE); Sedef Acar, Dubai (AE); Mohammad Al-Hussein, Dubai (AE); and Georgina Selby, Dubai (AE)
Assigned to MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US)
Filed by MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US)
Filed on Feb. 3, 2021, as Appl. No. 17/166,807.
Claims priority of application No. 10202000987T (SG), filed on Feb. 4, 2020.
Prior Publication US 2021/0241239 A1, Aug. 5, 2021
Int. Cl. G06Q 30/00 (2023.01); G06Q 20/02 (2012.01); G06Q 20/22 (2012.01); G06Q 20/10 (2012.01); G06Q 20/32 (2012.01); G06Q 40/02 (2023.01); G06K 19/06 (2006.01); G06Q 20/36 (2012.01)
CPC G06Q 20/02 (2013.01) [G06Q 20/108 (2013.01); G06Q 20/223 (2013.01); G06Q 20/3276 (2013.01); G06Q 40/02 (2013.01); G06K 19/06028 (2013.01); G06K 19/06037 (2013.01); G06Q 20/367 (2013.01)] 10 Claims
OG exemplary drawing
 
1. A method for open-loop person to person payments, the method comprising:
receiving, at a person to person (P2P) payments platform, a transaction request message from a sender computing device, the transaction request message including an identifier of a recipient, details of a funding source, and a payment amount;
searching, by the P2P payments platform, in a database, for an account associated with the identifier of the recipient;
determining, by the P2P payments platform, based on the search in the database, that the recipient does not have an account registered with the P2P payments platform;
initiating, by the P2P payments platform, a request to a payment network, to transfer the payment amount from the funding source to an escrow account maintained at an acquirer system;
recording, by the P2P payments platform, an entry to the database, the entry having details of the transfer, which include a timestamp, a transaction identifier, the identifier of the recipient, the details of the funding source, and the payment amount;
transmitting, by the P2P payments platform, to the sender computing device, a notification indicating transfer of the payment amount to the escrow account;
transmitting, by the P2P payments platform, to the recipient based on the identifier, a payment notification message, said payment notification message including a link, wherein the link is a URL (uniform resource locator) specific to a payment webpage of the P2P payment platform, which includes an option for the recipient to receive the payment amount, the option being for a virtual card, issued by the acquirer system, to the recipient to receive the payment amount from the escrow account into an account associated with the virtual card without the recipient pre-registering;
determining, by the P2P payments platform, that the recipient has not completed receipt of the payment amount from the escrow account within a predetermined timeout period, based on the timestamp; and
in response to determining that the recipient has not completed receipt of the payment amount from the escrow account within the predetermined timeout period, initiating, by the P2P payments platform, based on the entry in the database, a request to the payment network to transfer the payment amount from the escrow account back to the funding source.