Examples of using Payment source in English and their translations into Korean
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Ecclesiastic
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Ecclesiastic
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Heatmap of retailers that accept ether as payment. Source: cryptwerk. com/coinmap.
In this example, the user's default financial institution(FI) 30A is described as the selected payment source.
When you provide a payment source to us, you confirm that you are permitted to use that payment source. .
At step 1115, the system test for a user command to edit information about a billing entity or a payment source.
As shown in the exemplary screen views 1712 and 1714,the user selects a payment source and decides/enters an amount to pay in the step 1806.
Returning to step 1115, the system tests for a user command to edit information about a billing entity or a payment source.
It will be understood that information about a payment source is stored in the user financial accounts table and/or the financial service provider table in the user database 158 see FIG.
At step 1826 the MFTS 18 receives the confirmed payment instruction from the mobile device 15 and constructs a payment source payment instruction message 1828.
For example, the information preferably include the name of the payment source, e.g.,“Georgia Best Bank”, and the corresponding account number, account type, address, and other identifying information.
Continuing with screen 1712, when the user has decided the amount to pay and the“Pay” key is pressed, a screen view 1714 is displayed that shows a default payment source(Bank of USA, in this case) and its related information.
The display region 4220 thus display information associated with the selected payment source, which in this case identifies a specific financial institution and a specific account associated with the selected financial institution.
In response to user entry of an amount to pay, the Mobile Wallet application presents the exemplary screen view 1914, that, as in previous examples, permits the user to select an account from several available accounts of the default payment source.
At step 1140, if a command has been received to enter information about a new payment source, control passes to step 1145 for receipt and storage of information about new payment source.
The method or process 1800 involves communications or messages between a mobile device 15, the MFTS 18, at least one billing entity(e.g. a bill presentment system 190 ora separate billing entity), and a selected financial institution 30 that serves as a selected payment source(PS).
Screen 3210 displays several different accounts associated with the particular payment source, Bank of USA, namely, a savings balance, a checking balance, and other(e.g. a money market account).
Thus, at step 1205, the registered user first logs in tothe web application and provides his or her login and password information, and is presented with a“registered user” web page containing information specific to the billing entities and payment sources associated with that registered user.
In another embodiment, the MFTS system 18 sends out payment source information requests to part or all of user's financial service providers to retrieve up to the minute(real time) balance information from these entities.
For the FSP communication interface 156, a typical new processing task is in the form of a MFTS payment instruction(MFTSPI) that is communicated to a selected FSP 30, so as to instruct that FSP to make a payment onbehalf of a user, using a selected account as payment source(PS).
In the exemplary screen 1714, the default payment source Bank of USA has three selectable accounts, e.g. a Savings Balance, a Checking Balance, and Other(e.g. a money market account or perhaps a borrowing account).
The MFTS 18 receives this MPI and generates a corresponding MFTS payment instruction(MFTSPI) message 3106 containing information required by a third party pre-paid(stored value)card provider or vendor 3140, and if required, effects a funds transfer to the card provider by drawing on the selected payment source of the user/payer.
It will be appreciated that as the user is viewing the payment sources and their account balances in the various payment sources screens 1300, the mobile device 15 is communicating with the MFTS 18 and receiving real-time balance information from the corresponding financial institutions.
Subsequent to the foregoing steps, and as indicated at step 3530, the payee(now a registered user of the MFTS services) is empowered and enabled not only to receive further payments via the installed Mobile Wallet application, butalso to register billing entities to whom payments should be made, as well as the payee/user's payment sources.
According to one exemplary aspect of the invention, the MPI message 3320 includes information identifying a payment source account, a destination account, and a balance transfer amount, so that the MFTS can construct appropriate MFTS payment instructions to the selected and identified financial institutions.
Payment source information: information relating to a payment source that is stored at the MFTS, and a portion of which(summarized payment source information) is communicated to user's mobile device.
If the user presses the“Select” key in screen view 1714, indicating confirmation that the current bill is to be paid with the default payment source, then the Mobile Wallet application generates a screen view 1716 that includes information confirming the payment and updating the payment source information.
The MFTS processes the inquiry or payment, creates a transaction record 715 corresponding to the transaction in a transaction table 710 of the transaction database 705, stores the record in the transactions table 710,creates a MFTS payment instruction(MFTSPI) for a selected particular financial institution or payment source(PS), and transmits the MFTSPI to that financial institution or PS.
It will be of course appreciated that the user could decline payment with the default payment source anduse the navigation controls to select a different payment source, in which case further and correspondingly appropriate messages from the Mobile Wallet application are generated and returned to the MFTS 18.
According to another exemplary aspect of the invention, in the event that wireless signal is not availableto the mobile device, or MFTS 18 is unable to communicate with a particular financial service provider/payment source 30, the last(most recent) balance information, will be pulled from the mobile device 15, as such information is cached in local memory of the mobile device.
In an exemplary embodiment, the mobile device 15 communicates a request to view payment sources and account balances to the MFTS 18, and the MFTS corresponding interacts with the available payment sources to retrieve their respective account information as shown at step 1418 by sending out requests 1420A or 1420B to their corresponding financial institutions 30A, or 30B.
The MFTS 18 also comprises multiple financial service provider communication interfaces 156 to partner Financial Service Providers(FSPs) 30,which are entities that provide functions such as payment source detail, bill aggregation or bill payment connectivity, or are entities to whom payment instructions are sent on behalf of a user.