Optical-scan triggered electronic funds transfer for purchase transaction

Abstract

An optical scan triggered electronic funds transfer (EFT) method. In an embodiment, a payment services provider computer receives a request for a dynamic quick response (QR) code, generates the dynamic QR code, transmits the dynamic QR code to the POS device and receives a transaction request from a user mobile device proposing a payment transaction without identifying any financial account that belongs to the merchant. The payment services provider computer then transmits a message to the user mobile device prompting the user to confirm the payment transaction, receives an indication confirming the payment transaction and then initiates an electronic funds transfer (EFT) in an EFT system for the transaction amount from a user account to a merchant account.

What is claimed is: 
     
         1 . An optical scan triggered electronic funds transfer (EFT) method comprising:
 receiving, by a payment services provider computer from a merchant point of sale (POS) device of a merchant, a request for a dynamic quick response (QR) code comprising a transaction amount of a purchase transaction and a merchant identifier;   generating, by the payment services provider computer, the dynamic QR code by using at least the merchant identifier and the transaction amount;   transmitting, by the payment services provider computer, the dynamic QR code to the POS device;   receiving, by the payment services provider computer from a user mobile device, a transaction request proposing a payment transaction without identifying any financial account that belongs to the merchant, wherein the transaction request comprises the merchant identifier scanned by the user mobile device from the dynamic QR code displayed by the POS device;   transmitting, by the payment services provider computer to the user mobile device, a message prompting the user to confirm the payment transaction including the transaction amount;   receiving, by the payment services provider computer from the user mobile device, an indication confirming the payment transaction; and   initiating, by the payment services provider computer with a payment/switch network, an electronic funds transfer (EFT) in an EFT system for the transaction amount from a user account to a merchant account.   
     
     
         2 . The method of  claim 1 , further comprising transmitting, by the payment services provider computer to the merchant POS device, a confirmation message indicating performance of the EFT funds transfer. 
     
     
         3 . The method of  claim 1 , further comprising transmitting, by the payment services provider computer to the user mobile device, a confirmation message indicating performance of the EFT funds transfer. 
     
     
         4 . The method of  claim 1 , further comprising, prior to transmitting the message prompting the user to confirm the payment transaction:
 retrieving, by the payment service provider computer from at least one directory, the merchant's banking details and user banking details; and   appending, by the payment services provider computer, the merchant's banking details and user banking details to the received transaction request.   
     
     
         5 . The method of  claim 1 , wherein the message prompting the user to confirm the transaction amount comprises a merchant name identifying the merchant without identifying the merchant's banking details. 
     
     
         6 . The method of  claim 1 , wherein the request for a dynamic QR code further comprises geolocation information. 
     
     
         7 . The method of  claim 1 , wherein the merchant is one of a retailer or a mass transit system. 
     
     
         8 . A payment services provider computer for conducting an optical scan triggered electronic funds transfer (EFT) for a payment transaction comprising:
 a processor;   a communication device operably connected to the processor; and   a storage device operably connected to the processor, wherein the storage device stores processor executable instructions which when executed cause the processor to:   receive a request for a dynamic quick response (QR) code from a merchant point of sale (POS) device of a merchant, wherein the request comprises a transaction amount of a purchase transaction and a merchant identifier;   generate the dynamic QR code by using at least the merchant identifier and the transaction amount;   transmit the dynamic QR code to the POS device;   receive a transaction request from a user mobile device proposing a payment transaction without identifying any financial account that belongs to the merchant, wherein the transaction request comprises the merchant identifier scanned by the user mobile device from the dynamic QR code displayed by the POS device;   transmit a message to the user mobile device, the message prompting the user to confirm the payment transaction including the transaction amount;   receive an indication confirming the payment transaction from the user mobile device; and   initiate an electronic funds transfer (EFT) with a payment/switch network in an EFT system for the transaction amount from a user account to a merchant account.   
     
     
         9 . The payment services provider computer of  claim 8 , wherein the storage device stores further processor executable instructions which when executed cause the processor to transmit a confirmation message indicating performance of the EFT funds transfer to the merchant POS device. 
     
     
         10 . The payment services provider computer of  claim 8 , wherein the storage device stores further processor executable instructions which when executed cause the processor to transmit a confirmation message indicating performance of the EFT funds transfer to the user device. 
     
     
         11 . The payment services provider computer of  claim 8 , wherein the storage device stores further processor executable instructions, prior to the instructions for transmitting the message prompting the user to confirm the payment transaction, which when executed cause the processor to:
 retrieve the merchant's banking details and user banking details from at least one directory; and   append the merchant's banking details and user banking details to the received transaction request.   
     
     
         12 . The payment services provider computer of  claim 8 , wherein the message prompting the user to confirm the transaction amount comprises a merchant name identifying the merchant without identifying the merchant's banking details. 
     
     
         13 . The payment services provider computer of  claim 8 , wherein the request for a dynamic QR code further comprises geolocation information. 
     
     
         14 . The payment services provider computer of  claim 8 , wherein the POS of the merchant is one of a retail POS or a mass transit system POS.