MONEY TRANSFER BY USE OF A PAYMENT PROXY

• Main Authors: Grassadonia, Brian, Wilson, Jesse
• Format: Patent
• Language: English
• Published: 23.05.2024
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; ELECTRIC COMMUNICATION TECHNIQUE; ELECTRICITY; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR; TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHICCOMMUNICATION

In some examples, a system associates a first proxy identifier (ID) with a financial account of a user. The first proxy ID has a syntax including a symbol followed by a first string of one or more characters comprising at least one letter. The system generates a second proxy ID having the syntax including the symbol followed by a second string. The system associates the second proxy ID with the first proxy ID based on a configured rule that automatically allocates at least a portion of funds received via the second proxy ID to the financial account associated with the first proxy ID. Based on detecting the second proxy ID in a message, the system initiates a transfer of funds from a financial account of the sender of the message, and at least some of the transferred funds are transferred to the user's financial account based on the configured rule.