CPC G06Q 20/40 (2013.01) [G06Q 20/023 (2013.01); G06Q 20/10 (2013.01); G06Q 20/3821 (2013.01); G06Q 20/385 (2013.01); G06Q 20/405 (2013.01)] | 20 Claims |
1. A system comprising:
one or more processors; and
one or more non-transitory computer-readable media storing computing instructions that, when executed on the one or more processors, cause the one or more processors to perform:
receiving a request based on a sender initiating a funds transfer, wherein the funds transfer is for the sender to make a payment to a non-financial institution, and wherein the sender has a sender account at a sender financial institution;
obtaining sender identifying information from the sender; and
sending at least a recipient public identifier and a payment amount for the payment to the sender financial institution to cause the sender financial institution to send a funds transfer request to a computer-implemented funds transfer network to initiate the payment from the sender account at the sender financial institution to a recipient account at a recipient financial institution,
wherein:
the funds transfer request does not include an account number of the recipient account;
the computer-implemented funds transfer network is operated by an entity that is different from the recipient financial institution and the sender financial institution;
the computer-implemented funds transfer network comprises a directory that maps the recipient public identifier to a recipient private identifier;
the recipient private identifier is embedded with information that identifies the recipient financial institution;
the computer-implemented funds transfer network is configured to send the recipient private identifier to the recipient financial institution to facilitate the payment from the sender account to the recipient account; and
the recipient private identifier is not shared with the sender.
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