Software system that enables instant disbursment of funds between payers and payees

Abstract

A system where a payer transmits a first-time enrollment request to a portal, where the first-time enrollment request includes initial identifying information of said first circuit and/or communication circuit. In the system, the portal generates an out-of-band blockchain notification requesting authentication from a recipient. In addition, the recipient receives the out-of-band notification whereby the recipient accepts the funds and initial enrollment is completed through the portal. Furthermore, the portal communicates with a third party for verification and transmits an enrollment confirmation to the recipient. Also, the portal transmits an enrollment confirmation upon the successful/unsuccessful enrollment of the recipient.

We claim: 
     
         1 . An apparatus comprising:
 a first circuit and/or communication circuit;   a second circuit and/or communication circuit;   a third circuit and/or communication circuit; and   a fourth circuit and/or communication circuit, wherein   the first circuit and/or communication circuit is configured and/or programmed to transmit a first-time enrollment request to the second circuit and/or communication circuit,   the first-time enrollment request includes initial identifying information of said first circuit and/or communication circuit,   the second circuit and/or communication circuit is configured and/or programmed to generate an out-of-band blockchain notification requesting authentication from the third circuit and/or communication circuit,   the third circuit and/or communication circuit is configured and/or programmed to receive the out-of-band notification whereby the third circuit and/or communication circuit accepts the funds and initial enrollment is completed through the second circuit and/or communication circuit,   the second circuit and/or communication circuit is configured and/or programmed to communicate with the fourth circuit and/or communication circuit for verification and transmits an enrollment confirmation to the third circuit and/or communication circuit, and   the second circuit and/or communication circuit is configured and/or programmed to transmit an enrollment confirmation upon the successful/unsuccessful enrollment of the third circuit and/or communication circuit.   
     
     
         2 . A method comprising:
 transmitting a first-time enrollment request, wherein the first-time enrollment request includes initial identifying information;   generating an out-of-band blockchain notification requesting authentication;   receiving the out-of-band notification;   communicating for verification and transmitting an enrollment confirmation; and   transmitting an enrollment confirmation upon the successful/unsuccessful enrollment.   
     
     
         3 . A non-transitory computer readable medium having instructions stored thereon, such that when the instructions are read and executed by one or more processors, said one or more processors is configured to perform the method according to  claim 2 . 
     
     
         4 . An apparatus comprising:
 a first circuit and/or communication circuit;   a second circuit and/or communication circuit;   a third circuit and/or communication circuit, wherein   the first circuit and/or communication circuit is configured and/or programmed to transmit an initiation message to the second circuit and/or communication circuit,   the second circuit and/or communication circuit is configured and/or programmed to generate an out-of-band blockchain notification requesting authentication in response to receiving said initiation message,   the third circuit and/or communication circuit is configured and/or programmed to receives and accepts the notification, and send a Payment acceptance notification to the second circuit and/or communication circuit,   the second circuit and/or communication circuit is configured and/or programmed to transmit a notification of payment acceptance message to the first circuit and/or communication circuit in a case of a successful enrollment result,   the second circuit and/or communication circuit is configured and/or programmed to transmit a communication to the third circuit and/or communication circuit providing redemption options,   the second circuit and/or communication circuit is configured and/or programmed to debits an account associated with the first circuit and/or communication circuit,   the third circuit and/or communication circuit is configured and/or programmed to select either redeeming an entire payment at once or to leave a balance in an account in response to receiving the communication,   the third circuit and/or communication circuit is configured and/or programmed to transmit the selected method of redemption, and   the second circuit and/or communication circuit is configured and/or programmed to transmit the debit amount to the third circuit and/or communication circuit and fulfil the redemption request in response to receiving communication.   
     
     
         5 . A method comprising:
 transmitting an initiation message;   generating an out-of-band blockchain notification requesting authentication in response to receiving said initiation message,   receiving and accepting the notification, and sending a Payment acceptance notification;   transmitting a notification of payment acceptance message in a case of a successful enrollment result;   transmitting a communication providing redemption options;   debiting an account;   selecting either redeeming an entire payment at once or to leave a balance in an account in response to receiving the communication;   transmitting the selected method of redemption; and   transmitting the debit amount and fulfilling the redemption request in response to receiving communication.   
     
     
         6 . A non-transitory computer readable medium having instructions stored thereon, such that when the instructions are read and executed by one or more processors, said one or more processors is configured to perform the method according to  claim 5 .