System and method for selectable funding of electronic transactions

Abstract

A system for transferring funds to pay bills and to and from selected accounts on an optimized is provided. A mediation engine may manage the payments made to selected payees, including by scheduling the payments and selecting sources for funds. A rules-based optimizer may automatically select the least-cost or other most efficient or desirable transaction, given the customer's available funds, types of funds and payment date. All payment providers and payees may manipulated using one seamless view. A customer service representative may also view the transfers.

1 - 41 . (canceled) 
     
     
         42 . A processing system for performing a funds transfer between a first customer and a second customer, the processing system constituted by a tangibly embodied computer, the processing system including:
 a financial processing portion that performs processing in conjunction with the funds transfer; and   a financial database which contains data used in the funds transfer; and   the financial processing portion performing processing including:
 inputting a funds transfer request from the first customer through interfacing with the first customer, the financial processing portion providing a plurality of options to the first customer, the options controlling first attributes of the funds transfer; 
 inputting at least one attribute associated with the second customer, the at least one attribute constituting second attributes of the funds transfer; 
 aggregating the first attributes and the second attributes; and 
 performing the funds transfer based on the aggregated attributes. 
   
     
     
         43 . The system of  claim 42 , the at least one attribute associated with the second customer including at least one selected from the group consisting of: category of the payee and payee account of the payee. 
     
     
         44 . The system of  claim 42 , the financial processing portion, subsequent to completion of the funds transfer, sending a communication to the first customer alerting the first customer of the completion of funds transfer requested by the first customer. 
     
     
         45 . The system of  claim 44 , wherein the communication to the first customer is in the form of an e-mail. 
     
     
         46 . The system of  claim 42 , including a first interface for communicating first information regarding at least one payment source, and a second interface for communicating second information regarding at least one payee account. 
     
     
         47 . The system of  claim 42 , wherein at least one of the first interface and the second interface comprises a desktop GUI (graphical user interface) directly communicating with the financial processing portion. 
     
     
         48 . The system of  claim 42 , the interfacing with the first customer including the financial processing portion  210  presenting the first customer with at least one set of options, the set of options generated based on attributes entered by the first customer, and set of options contains a plurality of attributes that the first customer may choose. 
     
     
         49 . The system of  claim 48 , wherein the financial processing portion presents the first customer with a set of options that the first customer is eligible for to fulfill a desired transaction. 
     
     
         50 . The system of  claim 49 , the set of options constituted by a set of possible funding mechanisms. 
     
     
         51 . The system of  claim 49 , wherein the financial processing portion provides the first customer the option to change the attributes in at least one set of options. 
     
     
         52 . The system of  claim 49 , wherein the financial processing portion presents the first customer with the capability to create a new set of options. 
     
     
         53 . The system of  claim 42 , wherein the processing of the financial processing portion is performed with the first customer constituting a sender of funds and the second customer constituting a receiver of funds. 
     
     
         54 . The system of  claim 42 , the financial processing portion providing a plurality of options to the first customer includes the financial processing portion presenting the first customer with a GUI (graphical user interface) that controls at least one option. 
     
     
         55 . The system of  claim 54 , the GUI providing at least one selector box. 
     
     
         56 . The system of  claim 55 , the at least one selector box including at least one selected from the group consisting of:
 a pay-from selector box to identify accounts from which to pay bills,   a payee selector box to identity the recipient of the payment,   a schedule selector box to select desired dates to effectuate payments, and   an optimization selector box with which to select one or more variables by which the transaction will be optimized.   
     
     
         57 . The system of  claim 55 , the GUI including a first selector box that controls selection of a payee account for the transaction, and a second selector box that controls timing of the transaction. 
     
     
         58 . The system of  claim 57 , the payee account associated with the second customer. 
     
     
         59 . A method for performing a funds transfer between a first customer and a second customer using a processing system, the processing system constituted by a tangibly embodied computer, the processing system including a financial processing portion that performs processing in conjunction with the funds transfer; and a financial database which contains data used in the funds transfer; and the financial processing portion performing the method, the method including:
 inputting a funds transfer request from the first customer through interfacing with the first customer, the financial processing portion providing a plurality of options to the first customer, the options controlling first attributes of the funds transfer;   inputting at least one attribute associated with the second customer, the at least one attribute constituting second attributes of the funds transfer;   aggregating the first attributes and the second attributes; and   performing the funds transfer based on the aggregated attributes.   
     
     
         60 . A processing system for performing a funds transfer between a first customer and a second customer, the processing system constituted by a tangibly embodied, the processing system including:
 a computer readable medium portion upon which code is disposed that performs processing in conjunction with the funds transfer; and   a financial database which contains data used in the funds transfer; and   the computer readable medium portion including:
 a first portion that inputs a funds transfer request from the first customer through interfacing with the first customer, the financial processing portion providing a plurality of options to the first customer, the options controlling first attributes of the funds transfer; 
 a second portion that inputs at least one attribute associated with the second customer, the least one attribute constituting second attributes of the funds transfer; 
 a third portion that aggregates the first attributes and the second attributes; and 
 a fourth portion that performs the funds transfer based on the aggregated attributes. 
   
     
     
         61 . The processing system of  claim 60 , wherein one of the first attributes of the funds transfer and second attributes of the funds transfer effects a least cost processing determination.