Multi-factor algorithm for facilitating electronic payments to payees

Abstract

The payment service provider receives a request to make a payment to a payee on behalf of the payor, via a wide area network. The payment service provider first determines whether or not first payee identity information for the payee to be paid pursuant to the received request, which is included in first data associated with the payor, has an associated indicator indicating that the payee to be paid is payable by crediting that payee via electronic funds transfer. If not, the payment service provider next determines whether or not respective second payee identity information, which is included in second data associated with multiple payees and identifies each of the multiple payees payable on behalf of multiple payors by crediting that payee via electronic funds transfer, identifies the payee to be paid. If so, the payment service provider directs the requested payment by crediting, via electronic funds transfer, a deposit account represented by the deposit account information associated with the respective second payee identity information identifying the payee to be paid in the second data.

1 . A method for making a payment requested via a wide area network on behalf of a payor, comprising: 
 receiving, by a payment service provider via a network, a request for the payment service provider to make a payment to a payee on behalf of the payor;    determining, by the payment service provider, whether or not first payee identity information for the payee to be paid pursuant to the received request, which is included in first data associated with the payor, has an associated indicator indicating that the payee to be paid is payable by crediting that payee via electronic funds transfer;    if it is determined that there is no indicator, determining, by the payment service provider, whether or not respective second payee identity information included in second data associated with and identifying multiple payees payable on behalf of multiple payors by crediting via electronic funds transfer, identifies the payee to be paid; and    if it is determined that the payee to be paid is identified, directing, by the payment service provider, the requested payment on behalf of the payor by crediting, via electronic funds transfer, a deposit account represented by deposit account information associated with the respective second payee identity information identifying the payee to be paid included in the second data.    
   
   
       2 . The method of  claim 1 , wherein: 
 the received request for the payment service provider to make the payment to the payee on behalf of the payor includes a name of the payee; and    the payee name included in the received request corresponds to the first payee identity information for the payee to be paid that is included in the first data.    
   
   
       3 . The method of  claim 1 , further comprising: 
 if it is determined that the respective second payee identity information included in the second data does not identify the payee to be paid, directing, by the payment service provider, the requested payment by check or draft payable to the payee to be paid.    
   
   
       4 . The method of  claim 1 , wherein: 
 the electronic funds transfer is an ACH transfer.    
   
   
       5 . The method of  claim 1 , wherein: 
 the indicator is a unique payee identifier for the payee to be paid.    
   
   
       6 . The method of  claim 5 , further comprising: 
 if it is determined that the associated unique payee identifier is included in first data, determining, by the payment service provider, the deposit account represented by the deposit account information which is included in the second data in association with unique payee identifier determined to be included in the first data; and    directing, by the payment service provider, the requested payment by crediting, via electronic funds transfer, the determined deposit account.    
   
   
       7 . The method of  claim 6 , wherein: 
 the electronic funds transfer is an ACH transfer.    
   
   
       8 . A system for making a payment requested via a wide area network on behalf of a payor, comprising: 
 a first data store, associated with the payor, having first payee identity information for a payee;    a second data store, associated with payees, having respective second payee identity information identifying each of multiple payees payable on behalf of multiple payors by crediting via electronic funds transfer and respective deposit account information associated with the second payee identity information identifying each of the multiple payees; and    a processor configure to (i) receive, via a network, a request to make a payment to the payee on behalf of the payor, (ii) determine, responsive to the received request, whether or not the stored first payee identity information for the payee has an associated indicator indicating that the payee is payable by crediting via electronic funds transfer, (iii) if it is determined that there is no associated indicator, determining whether or not the respective second payee identity information in the second data store identifies the payee, and (iv) if it is determined that the respective second payee identity information identifies the payee, directing the requested payment by crediting, via electronic funds transfer, a deposit account represented by the respective deposit account information associated with the respective second payee identity information identifying the payee in the second data store.    
   
   
       9 . The system of  claim 8 , wherein: 
 the received request to make the payment to the payee on behalf of the payor includes a name of the payee; and    the payee name included in the received request corresponds to the first payee identity information in first data store.    
   
   
       10 . The system of  claim 8 , wherein: 
 the processor is further configured to direct the requested payment by check or draft payable to the payee, if it is determined that the payee is not identified by the respective second payee identity information in the second data store.    
   
   
       11 . The system of  claim 8 , wherein: 
 the electronic funds transfer is an ACH transfer.    
   
   
       12 . The system of  claim 8 , wherein: 
 the associated indicator is an associated unique payee identifier for the payee to be paid.    
   
   
       13 . The system of  claim 12 , wherein: 
 the second data store also has a respective unique payee identifier associated with the respective deposit account information associated with the second payee identity information identifying each of one or more of the multiple payees; and    if it is determined that the first data store has the associated unique payee identifier, the processor is further configured to direct the requested payment by crediting, via electronic funds transfer, the deposit account represented by the respective deposit account information associated, in the second data store, with the unique payee identifier determined to be in the first data store.    
   
   
       14 . The system of  claim 13 , wherein: 
 the electronic funds transfer is an ACH transfer.    
   
   
       15 . A networked system, including multiple network stations interconnected by a wide area communications network, for making a payment requested via the network on behalf of a payor, comprising: 
 a first data store, associated with the payor, having first payee identity information for a payee;    a second data store, associated with payees, having respective second payee identity information identifying each of multiple payees payable on behalf of multiple payors by crediting via electronic funds transfer and respective deposit account information associated with the second payee identity information identifying each of the multiple payees;    a first network station, representing the payor, configured to transmit, via the network, a request to make a payment to the payee on behalf of the payor; and    a second network station, representing a bill payment service provider, configured (i) to determine, responsive to the transmitted request, whether or not the first payee identity information for the payee in the first data store has an associated indicator indicating that the payee is payable by crediting via electronic funds transfer, and (ii) if it is determined that there is no associated indicator, to determine whether or not the respective second payee identity information in the second data store identifies the payee, and (iii) if it is determined that the respective second payee identity information identifies the payee, to direct the requested payment by crediting, via electronic funds transfer, a deposit account represented by the respective deposit account information associated with the respective second payee identity information identifying the payee in the second data store.    
   
   
       16 . The networked system of  claim 15 , wherein: 
 the transmitted request to make the payment to the payee on behalf of the payor includes a name of the payee; and    the second network station determines that the respective second payee identity information in the second data store identifies the payee based on a correspondence between the payee name included in the transmitted request and the respective first payee identity information in the first data store.    
   
   
       17 . The networked system of  claim 15 , wherein: 
 the second network station is further configured to direct the requested payment by check or draft payable to the payee, if it is determined that the respective second payee identity information in the second data store does not identify the payee.    
   
   
       18 . The networked system of  claim 15 , wherein: 
 the electronic funds transfer is an ACH transfer.    
   
   
       19 . The networked system of  claim 15 , wherein: 
 the associated indicator is an associated unique payee identifier for the payee to be paid.    
   
   
       20 . The networked system of  claim 19 , wherein: 
 the second data store also has a respective unique payee identifier associated with the respective deposit account information associated with the second payee identity information identifying each of one or more of the multiple payees; and    if it is determined that the first data store has the associated unique payee identifier, the second network station is further configured to direct the requested payment by crediting, via electronic funds transfer, the deposit account represented by the respective deposit account information associated, in the second data store, with the unique payee identifier determined to be in the first data store.