System and method for processing funds transfer between entities based on received optical machine readable image information

摘要

A system and method for coordinating processing of a funds transfer transaction between a transaction requestor and a transaction responder over a communications network. The transaction system comprises receiving a funds amount, requestor identification information, and responder identification information, such that at least one of the funds amount, the requestor identification information, or the responder identification information is encoded in symbology information embodied in a barcode. The system also decodes the symbology information into unencoded information using a coding scheme of the barcode and generates a funds transfer request for the funds transfer transaction, such that the funds transfer request has content including the unencoded information decoded from the symbology information. The system also sends the funds transfer request to a transaction processing system for subsequent settlement, as well as receives transaction confirmation messages.

主权项

1. A transaction system for coordinating remote processing of a funds transfer transaction between a transaction requestor and a transaction responder remotely over a communications network, the transaction system comprising:
a computer processor coupled to a memory, wherein the computer processor is programmed to coordinate processing of the funds transfer transaction by: receiving from the transaction responder over the communications network a funds amount, requestor identification information, requestor password information associated with a financial account of the transaction requestor, and responder identification information, such that the requestor password information is encoded in symbology information embodied in a barcode; decoding the symbology information into unencoded information using a coding scheme of the barcode; matching the requestor password information with corresponding stored requestor registration information in the memory; generating the funds transfer request for the funds transfer transaction, the funds transfer request having content including the funds amount and financial account information pertaining to the requestor identification information and the responder identification information; and sending the funds transfer request to a transaction processing system for subsequent settlement to effect transfer of funds representing the funds amount from a financial account of the transaction responder to the financial account of the transaction requestor.