FACEBOOK, INC. (Menlo Park, CA)
1. Technical Field
Many different embodiments are presented in this document. They are related to peer-to business electronic payment transactions. Some or all embodiments are related to systems and methods to facilitate electronic payments.
2. Background and Artwork Relevant to the Issue
Users can use electronic payment systems to make payments with other users via software applications available on one or more devices (e.g. desktop devices and mobile phones). Certain electronic payment systems permit users to make payments with merchants (i.e., peer-to-business payment transactions). These payment systems typically allow users to order products and pay for these items.
Customers and merchants generally need to make payments using one or more accepted methods of payment (e.g. cash, check, credit, debit card, gift cards, etc.) for transactions. In many cases, especially for small companies, merchants will only accept a few methods of payment to avoid contracting costs or transaction costs associated with one or more payment options. So, a customer who wants to purchase products or services from different vendors, each accepting different forms of payment, might require several methods of payment.
Physical payment methods can also present security risks. For example the use of physical debit or credit cards to pay for products or services allows others (e.g. merchant employees, other customers) to access credit card numbers and other financial details of your personal. Customers and employees could easily take financial data from companies by sharing it with them.
The majority of conventional electronic payment systems come with a number of disadvantages that can cause frustrated, confused, and result in an unsatisfactory payment process. Traditional electronic payment systems come with some disadvantages. They’re usually standalone systems that only merchants is able to implement, and the user has to sign up for. Some electronic payment systems have exclusive software that allows users to only communicate with a specific merchant. Other traditional electronic payment methods that allow users to perform payment transactions with a variety of merchants usually restrict users to just making payments.
The limitations of traditional electronic payment systems can also cause inconvenience. To transfer or receive money, users must open an application designed used for payments. The inconvenience of the independent nature of traditional electronic payment systems could deter users from using them.
Accordingly, there are several disadvantages to traditional electronic payment systems as well as methods.
The embodiments described herein provide benefits and/or solutions to some or all of the foregoing or other issues in the field of technology with methods and systems that improve the convenience and ease of electronic transactions with businesses.In particular some embodiments include the payment system in conjunction with an electronic messaging system that permits users to communicate with and also engage in, electronic payment transactions with merchants. The methods and systems permit users to make electronic payments to businesses through an interface for messaging that permits users to exchange messages electronically with merchants. Electronic payment systems that integrate with a messaging system permits merchants and users to both make and receive electronic payment in the same messaging thread. Thus, one or more embodiments allow users to communicate with merchants about a payment transaction and conduct the transaction without having open an additional application specifically designed for electronic payments.
The methods and systems can make for a safer transaction between a merchant and a consumer. The method and the system used to facilitate electronic payments can be used to enable consumers to make purchases without having to supply sensitive financial details like credit card numbers to a merchant. The methods and systems can also be utilized by merchants to verify the identity of consumers to prevent fraud.
Additional advantages and features of the embodiments will be explained in the description to follow and will in part be obvious from the description or learnt through the practice of such examples. It is possible to grasp and enjoy the features and advantages of these embodiments using the combinations and instruments specifically mentioned in the attached claims. These and other advantages are made more clear by the appended claims and following description. You may also be able to master these features by practicing the exemplary embodiments set forth below.Click here to view the patent on USPTO website.
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How to Search for Patents
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