U.S. patent application number 13/960411 was filed with the patent office on 2014-02-06 for online stock payment system.
This patent application is currently assigned to The Keitz Group LLC. The applicant listed for this patent is The Keitz Group LLC. Invention is credited to Stuart L. Anmuth, Edward L. Blume, Andrew Brecher, Craig E. Conway, Nancy Gussow Gross, Michael L. Keitz, Neal H. Keitz, Todd J. Keitz, Jerry Steinbrink.
Application Number | 20140040099 13/960411 |
Document ID | / |
Family ID | 50026442 |
Filed Date | 2014-02-06 |
United States Patent
Application |
20140040099 |
Kind Code |
A1 |
Keitz; Todd J. ; et
al. |
February 6, 2014 |
ONLINE STOCK PAYMENT SYSTEM
Abstract
In general, this disclosure describes an electronic payment
processing system that facilitates payment for goods or services
using securities, such as stock. In some examples, A computing
device includes at least one processor configured to receive data
indicating an electronic payment request for a transaction
associated with a provider of goods or services; process the
payment request with a payment processing system to access a data
store of a data storage device to identify one or more accounts
associated with a recipient of the goods or services and to
determine whether the identified accounts have sufficient amount of
securities to satisfy an amount specified by the electronic payment
request; and when the identified account has a sufficient amount of
securities to satisfy the amount specified by the payment request,
automatically generating an electronic response message from the
payment processing system indicating pending payment for the
transaction.
Inventors: |
Keitz; Todd J.; (Piedmont,
CA) ; Keitz; Neal H.; (Upper Gwynedd, PA) ;
Keitz; Michael L.; (Ambler, PA) ; Brecher;
Andrew; (Lower Gwynedd, PA) ; Gussow Gross;
Nancy; (Maple Glen, PA) ; Conway; Craig E.;
(Bryn Mawr, PA) ; Blume; Edward L.; (Merion
Station, PA) ; Steinbrink; Jerry; (Doylestown,
PA) ; Anmuth; Stuart L.; (Philadelphia, PA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
The Keitz Group LLC |
Jenkintown |
PA |
US |
|
|
Assignee: |
The Keitz Group LLC
Jenkintown
PA
|
Family ID: |
50026442 |
Appl. No.: |
13/960411 |
Filed: |
August 6, 2013 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
|
61680032 |
Aug 6, 2012 |
|
|
|
Current U.S.
Class: |
705/37 |
Current CPC
Class: |
G06Q 20/02 20130101;
G06Q 20/12 20130101; G06Q 40/04 20130101 |
Class at
Publication: |
705/37 |
International
Class: |
G06Q 20/12 20060101
G06Q020/12; G06Q 40/04 20060101 G06Q040/04 |
Claims
1. A method comprising: receiving an electronic payment request for
a transaction associated with a provider of goods or services;
processing the payment request with a payment processing system to
identify one or more accounts associated with a recipient of the
goods or services and to determine whether the identified accounts
have sufficient stock assets to satisfy an amount specified by the
payment request; and when the identified account has sufficient
stock assets to satisfy the amount specified by the payment
request, issuing an electronic response message from the payment
processing system indicating pending payment for the
transaction.
2. The method of claim 1, further comprising outputting one or more
electronic messages from the payment processing system to direct
transfer of at least a portion of the stock assets from the one or
more accounts to a receiving account to satisfy the amount
specified by the payment request.
3. The method of claim 2, further comprising, upon transfer of the
portion of the stock assets to the receiving account, performing an
electronic transfer of a dollar amount to the provider to satisfy
payment of the amount specified by the payment request.
4. The method of claim 2, further comprising, prior to transfer of
the portion of the stock assets to the receiving account,
performing an electronic transfer of a dollar amount to the
provider to satisfy payment of the amount specified by the payment
request.
5. The method of claim 1, further comprising outputting one or more
electronic messages from the payment processing system to direct a
sale of at least a portion of the stock assets from the one or more
accounts to a receiving account to satisfy the amount specified by
the payment request.
6. The method of claim 1, further comprising, upon a sale of the
portion of the stock assets, performing an electronic transfer of a
dollar amount to the provider to satisfy payment of the amount
specified by the payment request.
7. The method of claim 1, further comprising, prior to a sale of
the portion of the stock assets, performing an electronic transfer
of a dollar amount to the provider to satisfy payment of the amount
specified by the payment request.
8. The method of claim 1, wherein the payment request comprises a
plurality of payment types, the method further comprising: for each
of the plurality of payment types, determining a respective
proportion of the total amount of the payment request for the
payment type; for each of the plurality of payment types,
determining a respective account of the one or more accounts
associated with the payment type; performing an electronic transfer
of a dollar amount to the provider to satisfy payment of the amount
specified by the payment request, wherein the dollar amount
comprises a sum of dollar amounts from the respective accounts for
each of the plurality of payment types in proportion to each of the
respective payment types.
9. A method comprising: receiving an electronic request for
donation of stock assets to a charity by a donor; processing the
request with a payment processing system to identify one or more
accounts associated with a donor and to determine whether the
identified accounts have sufficient stock assets to satisfy an
amount specified by the request; and when the identified account
has sufficient stock assets to satisfy the amount specified by the
request, issuing an electronic response message from the payment
processing system to the charity indicating pending payment of the
donation.
10. A method comprising: receiving, from a user, an electronic
request for a debit instrument; processing the request with a
payment processing system to identify one or more accounts
associated with the user and to determine whether the identified
accounts have sufficient stock assets to satisfy an amount
specified by the request; and when the identified account has
sufficient stock assets to satisfy the amount specified by the
request, generating the debit instrument with a redemption value
based on the amount specified in the request.
11. The method of claim 10, wherein generating the debit instrument
comprises generating an electronic debit instrument that can be
redeemed at one or more providers of goods or services.
12. The method of claim 10, further comprising outputting one or
more electronic messages from the payment processing system to
direct transfer of at least a portion of the stock assets from the
one or more accounts to a receiving account to satisfy the amount
specified by the request.
13. The method of claim 10, further comprising outputting one or
more electronic messages from the payment processing system to
direct the sale of at least a portion of the stock assets from the
one or more accounts to a receiving account to satisfy the amount
specified by the request.
14. An electronic payment processing system comprising a processor
configured to execute program code to perform any of the methods of
claim 1-13.
15. An electronic payment processing system comprising: an
interface to receive an electronic payment request for a
transaction associated with a provider of goods or services; and a
processor configured to execute program code for processing the
payment request with a payment processing system to identify one or
more accounts associated with a recipient of the goods or services
and to determine whether the identified accounts have sufficient
stock assets to satisfy an amount specified by the payment request,
wherein the program code issues an electronic response message from
the payment processing system indicating pending payment for the
transaction when the identified account has sufficient stock assets
to satisfy the amount specified by the payment request.
16. An electronic payment processing system comprising: means for
receiving an electronic payment request for a transaction
associated with a provider of goods or services; and means for
processing the payment request with a payment processing system to
identify one or more accounts associated with a recipient of the
goods or services and to issue electronic payment for the
transaction using stock assets sufficient to satisfy the amount
specified by the payment request.
Description
[0001] This application claims the benefit of U.S. Provisional
Application No. 61/680,032, filed Aug. 6, 2012, the entire content
of which is incorporated by reference herein.
TECHNICAL FIELD
[0002] The disclosure relates to computer networks and, more
specifically, to electronic systems for processing payment for
goods or services.
BACKGROUND
[0003] A myriad of goods and services are now available "online" to
a customer. That is, a customer may purchase a wide variety of
goods and services through the Internet, which is a global
communication system formed by numerous interconnected computer
networks. A seller or service provider typically collects payment
from the user through an online payment processing system using a
credit card or a money transfer from a bank account.
SUMMARY
[0004] In general, this disclosure describes an electronic payment
processing system that facilitates payment for goods or services
using securities, such as stock. For example, the electronic
payment processing system allows an end user to utilize stock as a
form of currency in connection with an online or in person
transaction. Moreover, the electronic payment processing system may
seamlessly present stock as an option as a form of payment along
with other options, such as credit card or electronic transfer. In
this way, use of stock as a form of payment is seamlessly
integrated into the online environment provided by a network, such
as the Internet.
[0005] In one example, the electronic payment processing system
interacts with web-based and mobile-based software applications for
the conversion of stock to cash from one entity to another in an
advantageous way to both parties. In other examples, the electronic
payment processing system may also provide consumers the ability to
perform credit card transfers and bank transfers based on automated
conversion of stock as well as margin accounts for payment of
bills.
[0006] In one example, a method includes receiving, with at least
one processor of an electronic payment processing system, data
indicating an electronic payment request for a transaction
associated with a provider of goods or services. The method may
include processing the data indicating the electronic payment
request, with the at least one processor of the payment processing
system, to access a data store of a data storage device to identify
one or more accounts associated with a recipient of the goods or
services and to determine whether the identified accounts have a
sufficient amount of securities to satisfy an amount specified by
the electronic payment request. The method may include, when the
identified account has a sufficient amount of securities to satisfy
the amount specified by the payment request, automatically
generating, with the at least one processor of the electronic
payment processing system, an electronic response message from the
payment processing system indicating pending payment for the
transaction.
[0007] In one example, a computing device includes at least one
processor, wherein the at least one processor is configured to
receive data indicating an electronic payment request for a
transaction associated with a provider of goods or services. The at
least one processor may be configured to process the payment
request with a payment processing system to access a data store of
a data storage device to identify one or more accounts associated
with a recipient of the goods or services and to determine whether
the identified accounts have a sufficient amount of securities to
satisfy an amount specified by the electronic payment request. The
at least one processor may be configured to, when the identified
account has a sufficient amount of securities to satisfy the amount
specified by the payment request, automatically generate an
electronic response message from the payment processing system
indicating pending payment for the transaction.
[0008] In one example, a computer-readable storage medium is
encoded with instructions that, when executed, cause at least one
processor to receive data indicating an electronic payment request
for a transaction associated with a provider of goods or services.
The computer-readable storage medium may be encoded with
instructions that, when executed, cause at least one processor to
process the payment request with a payment processing system to
access a data store of a data storage device to identify one or
more accounts associated with a recipient of the goods or services
and to determine whether the identified accounts have a sufficient
amount of securities to satisfy an amount specified by the
electronic payment request. The computer-readable storage medium
may be encoded with instructions that, when executed, cause at
least one processor to, when the identified account has a
sufficient amount of securities to satisfy the amount specified by
the payment request, automatically generate an electronic response
message from the payment processing system indicating pending
payment for the transaction.
[0009] In one example, a method includes receiving, with at least
one processor of an electronic payment processing system, data
indicating an electronic payment request for donation of securities
to a charity by a donor. The method may also include processing the
data indicating the electronic payment request, with the at least
one processor of the payment processing system, to access a data
store of a data storage device to identify one or more accounts
associated with a donor and to determine whether the identified
accounts have a sufficient amount of securities to satisfy an
amount specified by the electronic payment request. The method may
also include, when the identified account has a sufficient amount
of securities to satisfy the amount specified by the electronic
payment request, automatically generating, with the at least one
processor of the electronic payment processing system, an
electronic response message from the payment processing system to
the charity indicating pending payment of the donation.
[0010] In one example, a computing device includes at least one
processor, wherein the at least one processor is configured to
receive data indicating an electronic request for donation of
securities to a charity by a donor. The at least one processor may
be configured to process the data indicating the electronic payment
request to access a data store of a data storage device to identify
one or more accounts associated with a donor and to determine
whether the identified accounts have a sufficient amount of
securities to satisfy an amount specified by the electronic payment
request. The at least one processor may be configured to, when the
identified account has a sufficient amount of securities to satisfy
the amount specified by the electronic payment request,
automatically generate an electronic response message from the
electronic payment processing system to the charity indicating
pending payment of the donation.
[0011] In one example, a computer-readable storage medium is
encoded with instructions that, when executed, cause at least one
processor to receive data indicating an electronic request for
donation of securities to a charity by a donor. The
computer-readable storage medium may be encoded with instructions
that, when executed, cause at least one processor to process the
data indicating the electronic payment request to access a data
store of a data storage device to identify one or more accounts
associated with a donor and to determine whether the identified
accounts have a sufficient amount of securities to satisfy an
amount specified by the electronic payment request. The
computer-readable storage medium may be encoded with instructions
that, when executed, cause at least one processor to, when the
identified account has a sufficient amount of securities to satisfy
the amount specified by the electronic payment request,
automatically generate an electronic response message from the
electronic payment processing system to the charity indicating
pending payment of the donation.
[0012] In one example, a method includes receiving, with at least
one processor of an electronic payment processing system and from a
computing device of a user, data indicating an electronic request
for a debit instrument. The method may also include processing the
data indicating an electronic request for a debit instrument, with
at least one processor of the electronic payment processing system,
to access a data store of a data storage device to identify one or
more accounts associated with the user and to determine whether the
identified accounts have a sufficient amount of securities to
satisfy an amount specified by the request. The method may also
include, when the identified account has a sufficient amount of
securities to satisfy the amount specified by the request,
automatically generating, with the at least one processor of the
electronic payment processing system, the debit instrument with a
redemption value based on the amount specified in the electronic
request.
[0013] In one example, a computing device includes at least one
processor, wherein the at least one processor is configured to
receive, from a second computing device of a user, data indicating
an electronic request for a debit instrument. The at least one
processor may be configured to process the data indicating an
electronic request for a debit instrument to access a data store of
a data storage device to identify one or more accounts associated
with the user and to determine whether the identified accounts have
a sufficient amount of securities to satisfy an amount specified by
the request. The at least one processor may be configured to, when
the identified account has a sufficient amount of securities to
satisfy the amount specified by the request, automatically generate
the debit instrument with a redemption value based on the amount
specified in the electronic request.
[0014] In one example, a computer-readable storage medium is
encoded with instructions that, when executed, cause at least one
processor to receive, from a second computing device of a user,
data indicating an electronic request for a debit instrument. The
computer-readable storage medium may be encoded with instructions
that, when executed, cause at least one processor to process the
data indicating an electronic request for a debit instrument to
access a data store of a data storage device to identify one or
more accounts associated with the user and to determine whether the
identified accounts have a sufficient amount of securities to
satisfy an amount specified by the request. The computer-readable
storage medium may be encoded with instructions that, when
executed, cause at least one processor to, when the identified
account has a sufficient amount of securities to satisfy the amount
specified by the request, automatically generate the debit
instrument with a redemption value based on the amount specified in
the electronic request.
[0015] In one example, an electronic payment processing system
includes an interface to receive an electronic payment request for
a transaction associated with a provider of goods or services. The
electronic payment processing system may include a processor
configured to execute program code for processing the payment
request with a payment processing system to identify one or more
accounts associated with a recipient of the goods or services and
to determine whether the identified accounts have a sufficient
amount of securities to satisfy an amount specified by the payment
request. In some examples, the program code issues an electronic
response message from the payment processing system indicating
pending payment for the transaction when the identified account has
a sufficient amount of securities to satisfy the amount specified
by the payment request.
[0016] In one example, an electronic payment processing system
includes means for receiving an electronic payment request for a
transaction associated with a provider of goods or services. The
electronic payment processing system may also include means for
processing the payment request with a payment processing system to
identify one or more accounts associated with a recipient of the
goods or services and to issue electronic payment for the
transaction using securities sufficient to satisfy the amount
specified by the payment request.
[0017] In one example, a system for donating securities includes a
donor computing device of a donor; a donee computing device of a
donee; and an electronic payment processing system. The donor
computing device may output for display, a first user interface
that includes one or more user interface elements to receive
information that indicates one or more securities of the donor and
specifies a transfer of the one or more securities as a donation.
Responsive to receiving one or more user inputs that indicate the
information for the one or more user interface elements, the donor
computing device may send one or more messages to the electronic
payment processing system that includes the information indicating
the one or more securities and specifying the transfer of the one
or more securities as the donation. Responsive to receiving the one
or more messages, the electronic payment processing system may
automatically retitle the one or more securities of the donor to
the donee. The donee computing device may output for display, a
second user interface that includes one or more user interface
elements to receive information that indicates the one or more
securities received as the donation. The donee computing device may
receive a user input that defines a conversion of at least a
portion of the one or more securities received as the donation to
cash. Responsive to receiving the user input, the donee computing
device may send one or more messages to the electronic payment
processing system that include the information indicating the one
or more securities and the conversion of at least the portion of
the one or more securities received as the donation to cash.
Responsive to receiving the one or more messages, the electronic
payment processing system may automatically convert the one or more
securities to cash.
[0018] In one example, a system for provisioning a cash payment
using securities may include a payment sender computing device of a
payment sender. The system may include a payment receiver computing
device of a payment receiver and an electronic payment processing
system. The payment sender computing device may output for display,
a first user interface that includes one or more user interface
elements to receive information that indicates one or more
securities of the payment sender and specifies a cash payment to
the payment receiver based on a sale of the one or more securities.
Responsive to receiving one or more user inputs that indicate the
information for the one or more user interface elements, the
payment sender computing device may send one or more messages to
the electronic payment processing system that include the
information indicating the one or more securities and the cash
payment to the payment receiver based on from the sale of the one
or more securities. Responsive to receiving the one or more
messages, the electronic payment processing system may
automatically converts the one or more securities of the payment
sender to cash and deposits the cash in an account of the payment
receiver. The payment receiver computing device may output for
display, a second user interface that includes information
indicating the cash in the account of the payment receiver
resulting from the sale of the one or more securities.
[0019] In one example, a computing device may output for display, a
user interface that includes one or more user interface elements to
receive information that indicate one or more securities and at
least one of: a transfer of the one or more securities as a
donation, and a cash payment to a provider of goods or services
based on a sale of the one or more securities. The computing device
may receive information indicating the one or more securities and
the at least one of the transfer and the cash payment. The
computing device may generate one or more messages that include the
information indicating the one or more securities and the at least
one of the transfer and the cash payment. The computing device may
send to an electronic payment processing system, the one or more
messages.
[0020] In one example, a computing device includes at least one
processor, wherein the at least one processor is configured to
output for display, a user interface that includes one or more user
interface elements to receive information that indicate one or more
securities and at least one of: a transfer of the one or more
securities as a donation, and a cash payment to a provider of goods
or services based on a sale of the one or more securities. The at
least one processor may be configured to receive information
indicating the one or more securities and the at least one of the
transfer and the cash payment. The at least one processor may be
configured to generate one or more messages that include the
information indicating the one or more securities and the at least
one of the transfer and the cash payment. The at least one
processor may be configured to send to an electronic payment
processing system, the one or more messages.
[0021] In one example, a computer-readable storage medium is
encoded with instructions that, when executed, cause at least one
processor to output for display, a user interface that includes one
or more user interface elements to receive information that
indicate one or more securities and at least one of: a transfer of
the one or more securities as a donation, and a cash payment to a
provider of goods or services based on a sale of the one or more
securities. The computer-readable storage medium may be encoded
with instructions that, when executed, cause at least one processor
to receive information indicating the one or more securities and
the at least one of the transfer and the cash payment; and generate
one or more messages that include the information indicating the
one or more securities and the at least one of the transfer and the
cash payment. The computer-readable storage medium may be encoded
with instructions that, when executed, cause at least one processor
to send to an electronic payment processing system, the one or more
messages.
[0022] In one example, a computing device may output for display, a
user interface that includes one or more user interface elements to
receive information that indicates one or more securities received
as a donation. The computing device may receive a user input that
specifies a conversion of at least a portion of the one or more
securities received as the donation to cash. The computing device
may generate one or more messages that include the information
indicating the one or more securities and specifying the conversion
of at least the portion of the one or more securities received as
the donation to cash. The computing device may to an electronic
payment processing system, the one or more messages.
[0023] In one example, a computing device includes least one
processor, wherein the at least one processor is configured to:
output for display, a user interface that includes one or more user
interface elements to receive information that indicates one or
more securities received as a donation. The at least one processor
may be configured to receive a user input that specifies a
conversion of at least a portion of the one or more securities
received as the donation to cash; generate one or more messages
that include the information indicating the one or more securities
and specifying the conversion of at least the portion of the one or
more securities received as the donation to cash; and send to an
electronic payment processing system, the one or more messages.
[0024] In one example, a computer-readable storage medium is
encoded with instructions that, when executed, cause at least one
processor to: output for display, a user interface that includes
one or more user interface elements to receive information that
indicates one or more securities received as a donation. The
computer-readable storage medium may be encoded with instructions
that, when executed, cause at least one processor to: receive a
user input that specifies a conversion of at least a portion of the
one or more securities received as the donation to cash; generate
one or more messages that include the information indicating the
one or more securities and specifying the conversion of at least
the portion of the one or more securities received as the donation
to cash; and send to an electronic payment processing system, the
one or more messages.
[0025] The details of one or more embodiments of the disclosure are
set forth in the accompanying drawings and the description below.
Other features, objects, and advantages of the disclosure will be
apparent from the description and drawings, and from the
claims.
BRIEF DESCRIPTION OF DRAWINGS
[0026] FIG. 1 is a block diagram illustrating an example network in
which an electronic payment processing system facilitates payment
for goods and services using securities.
[0027] FIG. 2 is a conceptual diagram illustrating further details
of the example network system of FIG. 1, in accordance with one or
more techniques of the present disclosure.
[0028] FIG. 3 is a flowchart illustrating example operations of an
electronic payment processing system to facilitate payments using
securities, in accordance with techniques of this disclosure.
[0029] FIG. 4 is a conceptual diagram illustrating further details
of an electronic payment processing system, in accordance with one
or more techniques of the present disclosure.
[0030] FIG. 5 shows a detailed example of various devices that may
be configured to execute program code to practice some embodiments
in accordance with the current disclosure.
[0031] FIG. 6 is a conceptual diagram illustrating a user interface
to select a brokerage firm from an aggregation service in
accordance with the current disclosure.
[0032] FIG. 7A is a conceptual diagram illustrating a user
interface to receive user input authentication credentials using an
aggregation service in accordance with the current disclosure.
[0033] FIG. 7B is a conceptual diagram illustrating a user
interface to receive input user authentication credentials using an
aggregation service in accordance with the current disclosure.
[0034] FIG. 7C is a conceptual diagram illustrating a user
interface to receive a user input that indicates whether to make a
donation or cash payment using securities in accordance with the
current disclosure.
[0035] FIG. 8 is a conceptual diagram illustrating a user interface
to receive a user input to make a donation using securities in
accordance with the current disclosure.
[0036] FIG. 9 is a conceptual diagram illustrating a user interface
to receive a user input to make a cash payment using securities in
accordance with the current disclosure.
[0037] FIG. 10 is a conceptual diagram illustrating a user
interface to receive a user input to make a direct donation using
securities in accordance with the current disclosure.
[0038] FIG. 11 is a conceptual diagram illustrating a user
interface to receive a user input to make a direct cash payment
using securities in accordance with the current disclosure.
[0039] FIG. 12 is a conceptual diagram illustrating a user
interface for a payment receiver to manage donations of securities
in accordance with the current disclosure.
[0040] FIG. 13 is a conceptual diagram illustrating a user
interface for a payment receiver to manage cash received as payment
from the conversion of securities in accordance with the current
disclosure.
[0041] FIG. 14 is a flow diagram illustrating example operations of
a computing device to provide user interface that allows a user
make a donation using securities or make a cash payment resulting
from a sale of securities, in accordance with one or more aspects
of the present disclosure.
[0042] FIG. 15 is a flow diagram illustrating example operations of
a computing device to provide user interface that allows a payment
receiver to manage a donation using securities or a cash payment
resulting from a sale of securities, in accordance with one or more
aspects of the present disclosure.
[0043] FIG. 16 is a flowchart illustrating example operations of an
electronic payment processing system that transfers securities as a
donation from a payment sender to a payment receiver, in accordance
with the current disclosure.
DETAILED DESCRIPTION
[0044] FIG. 1 is a block diagram illustrating an example network
system 10 in which an electronic payment processing system 18
facilitates payment for goods and services using securities, such
as stock. In the example of FIG. 1, users 12 obtain goods or
services 23 from providers 22. In general, providers 22 may be any
type of organization that offers a product or service, such as car
dealers, real estate firms, health care providers, educational
institutions and the like. For example, one or more of providers 22
may be automotive dealers that sell or lease automobiles. In
another example, one or more of providers 22 may be universities
that provide educational services for tuition from users 12. Other
examples of goods or services 23 for which users 12 may utilize
stock assets 21 as payment include consumer electronics, luxury
vehicles, travel services, jewelry, medical bills, insurance bills,
utility bills, rent, content service providers, etc.
[0045] Moreover, providers 22 may offer their goods and services
through traditional distribution channels, over network 20, or
both. Network 20 may represent a global network, such as the
Internet or a portion thereof, or may represent a smaller public or
proprietary network, including a local area network (LAN), a wide
area network (WAN) or any other network in inter-connected
computers. Electronic payment processing system 18 may be used to
facilitate use of stock assets 21 as payment for goods and services
23 ordered online via network 20. In this case, users 12 may
interact with computing devices 14 to access providers 22 of goods
and services. For example, providers 22 may maintain websites,
auctions, exchanges, applications or other forms of network
destinations that are accessible to users 12 via global network 20.
Although providers 22 are described as offering a product or
service, as further described in this disclosure, donors,
charities, and other recipients may similarly interact with
electronic payment processing system 18 and similar techniques
described with respect to providers 22 may apply to such donors,
charities, and other recipients. Computing devices 14 may be, for
example, laptop or desktop computers, servers, mobile phones,
telephones, personal digital assistants (PDAs), tablet computers,
work stations, electronic gaming consoles, e-readers, or other
mobile computing devices.
[0046] In other examples, electronic payment processing system 18
facilitates use of stock assets 21 as payment for goods and
services 23 purchased using more conventional means, such as by
retail store, catalog, telephone order, and the like. For example,
using techniques of the disclosure, user 12 may enter a retail
store to purchase a product such as a television. Using one of
computing devices 14 that implement techniques of the disclosure
(e.g., a smartphone), user 12 can use electronic payment processing
system 18 to send payment for the television to provider 22 using
stock.
[0047] In one example, user 12 initiates payment processing. In
this example, user 12 may interact with computing devices 14 to
select stock as a form of payment method. For example, user 12 may
interact with a website or other network resource of providers 22
to select stock as a payment method for transactions. Transactions
generally may include the transfer of securities as donations or
the provisioning of cash for a cash payment based on the sale of
securities, in accordance with techniques of this disclosure. In
this case, application-layer software executing web systems hosted
by providers 22 issue requests for electronic payment processing
system 18 to initiate stock settlement for payment. In another
example, user 12 may interact with electronic payment processing
system 18 to initiate stock settlement of financial obligations to
providers 22.
[0048] Electronic payment processing system 18, may receive data
indicating an electronic payment request for a transaction
associated with a provider of goods or services. Data indicating
the request may, generally, specify any information suitable to
transfer securities as a donation or to provision a cash payment in
accordance with techniques of the disclosure. Example information
may include, but is not limited to, user information, account
information, balance information, receiver information, etc.
[0049] Upon receiving a request to initiate use of stock assets 21
as payment, electronic payment processing system 18 first
authenticates the request. This may be performed in a variety of
ways. For example, electronic payment processing system 18 may use
authentication techniques, such as two-factor authentication to
authenticate the identity of user 12, in which the user provides
multiple authentication credentials. Authentication credentials may
include user name, password, pin, identifiable picture, speech,
fingerprint, etc. Electronic payment processing system 18 may
receive the authentication credentials from computing device 14 and
authenticate user 12. Furthermore, electronic payment processing
system 18 may determine whether user 12 has authorization to
perform various actions requested by computing device 14.
[0050] Upon authenticating the request, electronic payment
processing system 18 communicates with one or more of brokerage
firms 20 to determine whether the user 12 has sufficient stock
assets that can be liquidated to cover the requested payment. That
is, electronic payment processing system, may process the data
indicating the electronic payment request to access a data store of
a data storage device to identify one or more accounts associated
with a recipient of the goods or services and to determine whether
the identified accounts have sufficient stock assets to satisfy an
amount specified by the electronic payment request. For instance,
as shown in FIG. 2, electronic payment processing system 18 may
include one or more data stores that maintain information
including, but not limited to, account information, transaction
information, user information, and any other information suitable
to facilitate the transfer and/or sale of securities for donations
or cash payment. Electronic payment processing system may access
records corresponding to information about accounts user 12 that
include securities. In some examples, the data stores may be stored
on one or more data storage devices, which may generally include
any such storages devices as described in FIG. 5.
[0051] If sufficient stock assets exist to complete the payment,
electronic payment processing system 18 facilitates the transfer of
the stock assets from brokerage firms 20 to one or more of
brokerage accounts 25 that are associated with user 12. In some
examples, electronic payment processing system 18 may provide for
accounting of tax consequences associated with the transfer of
assets. Brokerage accounts 25 may be accounts that store stock
assets associated with user 12. In some examples, brokerage
accounts 25 may be maintained by electronic payment processing
system 18, while in other examples, brokerage accounts 25 may be
maintained by a separate brokerage system (not shown) that can
exchange information with electronic payment processing system 18.
In one example, an entity (e.g., a legal entity such as a
corporation, partnership, etc.), may own, control and/or maintain,
electronic payment processing system 18, brokerage accounts 25, the
brokerage system, etc. In some examples, electronic payment
processing system 18 (or the brokerage system in alternative
examples) may facilitate the retitling of ownership of the stock
assets from user 12 to providers 22 as further described in FIG.
2.
[0052] Upon transferring the stock assets to one or more of
brokerage accounts 25, electronic payment processing system 18 may
reserve certain stock assets 21 such that the stock assets 21
cannot be separately sold or transferred while the stock assets 21
are instead being used as payment by user 12. In this way,
real-time payment processing for transactions by users 12 using
stock assets 21 as a form of payment is not delayed in the event
liquidating the stock assets 21 on stock exchanges 26 may require
certain processing time. In some examples, electronic payment
processing system 18 may output one or more electronic messages to
direct a transfer of at least a portion of the stock assets from
the one or more accounts to a receiving account to satisfy the
amount specified by the electronic payment request. For example,
upon receiving confirmation that sufficient stock assets 21 may be
reserved (i.e., locked or otherwise restricted), electronic payment
processing system 18 outputs electronic messages 28 authorizing
electronic fund transfer from electronic payment processing system
18 to provider 22 from which the good or service was or will be
purchased. When the identified account has sufficient stock assets
to satisfy the amount specified by the payment request, electronic
payment processing system 18 may automatically generate an
electronic response message indicating pending payment for the
transaction.
[0053] Electronic payment processing system 18 may initiate an
electronic transfer of a specified dollar amount from a bank
account associated with electronic payment processing system 18 or
managed by the electronic payment processing system 18 for user 12.
Upon transfer of the portion of the stock assets to the receiving
account, electronic payment processing system 18 may perform an
electronic transfer of a dollar amount to the provider to satisfy
payment of the amount specified by the payment request. In an
alternative example, prior to transfer of the portion of the stock
assets to the receiving account, electronic payment processing
system 18 may perform an electronic transfer of a dollar amount to
the provider to satisfy payment of the amount specified by the
payment request. In still other examples, upon a sale of the
portion of stock assets, electronic payment processing system 18
may perform an electronic transfer of a dollar amount to the
provider to satisfy payment of the amount specified by the payment
request. In another example, prior to a sale of the portion of the
stock assets, electronic payment processing system 18 may perform
an electronic transfer of a dollar amount to the provider to
satisfy payment of the amount specified by the payment request. In
some examples, electronic payment processing system 18 does not
output confirmation messages to provider 22 until stock assets 21
have been liquidated. In an alternative embodiment, electronic
payment processing system 18 may send one or more electronic
messages that instruct brokerage firms 20 to reserve stock assets
21.
[0054] In any case, electronic payment processing system 18
controls the liquidation of sufficient stock assets 21 to cover the
obligation to provider 22 from which the good or service was or
will be received. For example, electronic payment processing system
18 may initiate transfer of sufficient stock assets 21 to a fund
associated with the electronic payment processing system 18 where
the stock assets 21 can be liquidated. In some examples, electronic
payment processing system 18 may output one or more electronic
messages to direct a sale of at least a portion of the stock assets
from the one or more accounts to a receiving account to satisfy the
amount specified by the payment request. For instance, electronic
payment processing system 18, generally, may generate and/or output
messages to one or more of stock exchange 26, brokerage firms 20,
providers 22, brokerage accounts 25, etc. An entity associated with
electronic payment processing system 18 may in turn receive a
processing fee for the sale of stock assets 21.
[0055] In another example, electronic payment processing system 18
facilitates donation of stock assets 21 to one or more charities
24. User 12 may initiate a donation of stock assets 21 in a variety
of ways. For example, user 12 may access a website presented by a
given charity 24 and indicate that a financial amount is to be
donated and that the stock assets 21 are to be used for payment of
the transaction. User 12 or the receiving charity 24 may specify
whether stock assets 21 are to be transferred to charities 24 or
whether a cash transfer is to be made. Thus, in some examples,
electronic payment processing system 18 may receive data indicating
an electronic payment request for donation of stock assets to a
charity by a donor. Electronic payment processing system 18 may
then process the data indicating the electronic payment request to
access a data store of a data storage device to identify one or
more accounts associated with a donor and to determine whether the
identified accounts have sufficient stock assets to satisfy an
amount specified by the electronic payment request. If the
identified account has sufficient stock assets to satisfy the
amount specified by the electronic payment request, electronic
payment processing system 18 may automatically generate an
electronic response message from the payment processing system to
the charity indicating pending payment of the donation.
[0056] In the case of a cash transfer using stock assets,
electronic payment processing system 18 may seamlessly interact
with stock exchange 26 to sell a required amount of stock assets 21
to satisfy the cash transfer. In such examples, electronic payment
processing system 18 retitles ownership of the stock from user 12
to charities 24 and then subsequently sells the assets. Retitling
the stock assets to charities 24 prior to sales may achieve tax
benefits on the appreciation of the stock assets. Electronic
payment processing system 18 may then generate and provide user 12
with completed tax forms as a record of the charitable donation. As
will be further described in the following figures, an accounting
system (e.g., accounting system 60 as shown in FIG. 2), in some
examples, may generate and provide user 12 with the completed tax
forms.
[0057] In another example, electronic payment processing system 18
facilitates automatic issuance of debit instruments 29 (physical or
electronic certificates) that may be redeemed at any of providers
22, where electronic payment processing system 18 generates the
debit instruments by automatically and seamlessly selling
sufficient stock assets 21. In some examples, the debit instruments
may include debit cards. Electronic debit instruments may include
electronic debit cards. Thus, in some examples, electronic payment
processing system 18 may receive from a computing device of a user,
data indicating an electronic request for a debit instrument.
Electronic payment processing system 18 may process the data
indicating an electronic request for a debit instrument to access a
data store of a data storage device to identify one or more
accounts associated with the user and to determine whether the
identified accounts have sufficient stock assets to satisfy an
amount specified by the request. Electronic payment processing
system 18 may, when the identified account has sufficient stock
assets to satisfy the amount specified by the request,
automatically generating, with the at least one processor of the
electronic payment processing system, the debit instrument with a
redemption value based on the amount specified in the electronic
request.
[0058] In some examples of automatically generating a debit
instrument, electronic payment processing system 18 may output one
or more electronic messages to direct transfer of at least a
portion of the stock assets from the one or more accounts to a
receiving account to satisfy the amount specified by the request.
In some examples of automatically generating a debit instrument,
electronic payment processing system 18 may output one or more
electronic messages to direct the sale of at least a portion of the
stock assets from the one or more accounts to a receiving account
to satisfy the amount specified by the request.
[0059] In some examples, user 12 may provide payment for goods and
services 23 using stock via a call center 27. Call center 27 may
include one or more customer service representatives that are
accessible to user 12 by telephone, instant messaging, video
conferencing, or any other interactive communication. In some
examples, customer service representatives may be human
representatives and/or automated agents executing at one or more
computing devices. User 12 may initiate a communication to call
center 27 using one of computing device 14 to make payment using
stock. For instance, user 12 may place a phone call to call center
27. A customer service representative may receive payment request
information from user 12 and, based on the information, submit the
request for payment to providers 22 via electronic payment
processing system 18, in accordance with techniques described in
this disclosure.
[0060] In some examples, user 12 may provide a donation using
securities or cash payment based on the sale of such securities
using multiple payment types (e.g., "payment forms"). Forms or
types of payment may include stock, bonds, debit cards, credit
cards, checking accounts or any other suitable forms of payment. As
further described in this disclosure, user 12 may specify any
number of payment types and respective proportions of amounts of
securities and/or cash from each payment type in a payment request.
For each of the plurality of payment types, electronic payment
processing system 18 may determine a respective proportion of the
total amount of the payment request for the payment type.
Electronic payment processing system 18 may further, for each of
the plurality of payment types, determine a respective account of
the one or more accounts associated with the payment type.
Electronic payment processing system 18 may perform an electronic
transfer of a dollar amount to the provider to satisfy payment of
the amount specified by the payment request, wherein the dollar
amount comprises a sum of dollar amounts from the respective
accounts for each of the plurality of payment types in proportion
to each of the respective payment types. In this way, electronic
payment processing system 18 can provide a donation using
securities or cash payment that includes a least a portion of the
payment based on the sale of securities from a combination of any
number of payment types.
[0061] FIG. 2 is a conceptual diagram illustrating further details
of network system 10, in accordance with one or more techniques of
the present disclosure. In the example of FIG. 2, a payment sender
(e.g., user 12), may send a payment using securities, such as
stock, to a payment receiver (e.g., provider 22), using electronic
payment processing system 18. In other examples, the payment sender
may donate securities to a payment receiver rather than converting
such securities to cash.
[0062] In the example of FIG. 1, user 12 may purchase an automobile
from provider 22 using stock. Initially, computing device 54
generates for display, a graphical user interface that enables user
12 to select, for example, one or more forms of payment and the
payment receiver. In some examples, electronic payment processing
system 18 may allow user 12 to view multiple accounts of user 12
that are maintained by various brokerage firms in a single
aggregated set of one or more views. For instance, electronic
payment processing system 18 may retrieve information for one or
more accounts of user 12 from an aggregation service and generate
information that can be displayed in a single unified view, such
that the user can see brokerage firm and securities balance
information. In some examples, electronic payment processing system
18 communicates with one or more aggregation services that collect
the information for one or more accounts of user 12. Electronic
payment processing system 18 may retrieve such information from the
aggregation service and send such account information to a
computing device of user 12. The computing device of user 12 may
display a graphical user interface that allows user 12 make
selections when using securities to donate and or make cash
payments. In some examples, aggregation provides information for
each of user 12's accounts including but not limited to: the
brokerage firm name that manages an account of the user 12, an
account identifier, one or more identifiers of the securities, the
number of shares of each security, the balances of the securities,
and the cost basis values of the securities.
[0063] User 12 may select a payment receiver from a list of payment
receivers or, in other examples, may input information that
uniquely identifies the payment receiver. Computing device 54, in
some examples, receives customer information for user 12 and
provider 22 from customer system 56. Customer system 56 may include
one or more datastores 68 that maintain information about each
customer of electronic payment process system 18. Datastores 68 may
comprise one or more data structures capable of storing information
such as a relationship database, map, Online Analytical Processing
(OLAP) database, etc. Examples of information about each customer
include, name, address, transaction details, etc.
[0064] User 12 also selects one or more forms or types of payment.
Forms or types of payment may include stock, bonds, debit cards,
credit cards, checking accounts, savings accounts, money market
accounts, or any other accounts or suitable forms of payment. In
the example of FIG. 2, user 12 selects stock as the sole form of
payment. In other examples, electronic payment processing system 18
enables user 12 to make a payment using multiple forms of payments.
For instance, user 12 may fund 50% of the payment with stock and
50% of the payment with a credit card. Once user 12 has selected
stock as the form of payment, the graphical interface of computing
device 54 may also enable user 12 to select the particular stock
included in user 12's assets that will serve as payment to provider
22. That is, user 12 may have a portfolio with multiple securities
and user 12 may select which particular securities to use as
payment. User 12 can also provide user input via the graphical user
interface to select the quantity of the payment. In other examples,
user 12 may provide numerous other user inputs via the graphical
user interface of computing device 54 to facilitate payment to
provider 22.
[0065] User 12 subsequently provides a user input that causes
computing device 54 to send the payment information to electronic
payment processing system 18. As described in FIG. 1, network
communications between various systems of FIGS. 1 and 2 use one or
more authentication techniques to secure payment information.
Payment interchange system 66, upon receiving the payment
information, determines customer information associated with user
12 and provider 22 from customer system 56.
[0066] Payment interchange system 66 further determines the
quantity of the requested payment and the forms of payment. For
each form of payment, payment interchange system 66 determines
whether user 12 has sufficient funds for the payment. To determine
whether user 12 has sufficient funds, payment interchange system 66
queries one or more financial services 64. Financial services 64
may include stock brokerages, banks, credit card vendors, etc.,
that manage assets of user 12 that are usable as different forms of
payment. For instance, financial services 64 include a stock
brokerage that manages stock of user 12 selected for use as payment
to provider 22. In the current example, payment interchange system
66 sends a request to financial services 64 that includes the
quantity and/or value of stock specified by user 12 and
identification of the selected stock.
[0067] Based on information of financial services 64, payment
interchange system 66 determines whether user 12 has sufficient
stock to complete the requested payment to provider 22. If payment
interchange system 66 determines that there is insufficient stock
to complete the transaction, payment interchange system 66 sends a
message to computing device 54 to notify user 12. In the example of
FIG. 2, payment interchange system 66 determines that a sufficient
amount of stock exists to fund the requested payment to provider
22.
[0068] In the example of FIG. 2, electronic payment processing
system 18, in some examples, further facilitates the transfer of
ownership and conversion of securities, such as stock, to another
form of payment such as electronic currency using securities
clearinghouse 62. Securities clearinghouse 62 in some examples may
clear and settle the transfer of securities from financial services
64 to brokerage accounts 25 that are maintained by electronic
payment processing system 18. In accordance with techniques of the
disclosure, to convert stock of user 12 to electronic currency in
order to pay provider 22, payment interchange system 66 initially
sends a request to securities clearinghouse 62 to electronically
transfer custody of the stock to brokerage accounts 25. The
request, in some examples, includes authorization information to
authorize the transfer and identification of the stock to
transfer.
[0069] Upon determining that securities clearinghouse 62 has
transferred custody of the stock to payment interchange system 66,
payment interchange system 66 sends information to accounting
system 60 to indicate the transfer of stock to electronic payment
processing system 18. Accounting system 60 may perform one or more
accounting functions, such as maintaining records of securities and
other assets associated with customers. Other functions may include
maintaining records of transactions between customers, such as
sending a payment from one customer to another. As further
described in this disclosure, in some examples, electronic payment
processing system 18 may therefore perform an automated retitling
of the securities, and in some examples, conversation to cash
without further user intervention following the initial request to
transfer the securities. Accounting system 60 may perform any other
suitable accounting functions to maintain state information of
securities, transactions, etc.
[0070] Once electronic payment processing system 18 has facilitated
the transfer of custody of the stock to brokerage accounts 25,
payment interchange system 66 converts the stock to electronic
currency. In some examples, payment interchange system 66 may
facilitate the retitling of stock ownership from user 12 to
provider 22 prior to converting the stock to electronic
currency.
[0071] In some examples, payment interchange system 66 may query,
for example, multiple stock exchanges to identify a price and/or
prospective purchasers for the stock. Upon determining a price and
purchaser for the stock in the example of FIG. 2, payment
interchange system 66 sends a request to securities clearinghouse
62 to transfer the stock to the purchaser in exchange for
electronic currency. Securities clearinghouse 62 performs one or
more transactions to transfer custody of the stock to the
purchaser. Securities clearinghouse 62 may send and/or receive
payment for the stock to payment interchange system 66 in the form
of electronic currency. In other examples, payment interchange
system 66 may communicate with securities clearinghouse 62 to
transfer the stock, and payment interchange system 66 may
communicate separately with, e.g., financial services 64 to send
and receive electronic currency as payment for the stock.
[0072] In the current example, payment interchange system 66, upon
receiving the payment from securities clearinghouse 62, sends
information to accounting system 60 to indicate the transfer of
custody of the stock and the receipt of electronic currency as
payment for the stock. Accounting system 60 updates records to
indicate the payment of electronic currency is associated with an
account of user 12.
[0073] To send notice of payment to computing device 52 of provider
22, payment interchange system 66 sends a message that specifies
payment information. Such payment information may include
authentication credentials associated with user 12. Other payment
information may include the quantity of the payment to provider 22.
Payment information may also include identification of the account
of user 12 that includes electronic currency for payment to
provider 22.
[0074] In some examples, computing device 52 receives the message
that specifies the payment information and records the payment to
an account of provider 22 that is managed by computing device 52.
Computing device 52 may also send a message that confirms the
payment has been received to payment interchange system 66. Payment
interchange system 66 may send information to accounting system 60
to record the decrease in electronic currency associated with the
account of user 12.
[0075] As shown in FIG. 2, electronic payment processing system 18
also includes a sales and marketing system 48. In some examples,
sales and marketing system 48 may include sales and marketing
information, such as promotional information, discount information,
advertisements, and any other suitable information for marketing
services of electronic payment processing system 18. In some
examples, electronic payment processing system 18 may send sales
and marketing information to external communication devices 50.
External computing devices 50, such as phones, tablet computers,
laptop computers, etc., receive and display the sales and marketing
information to prospective users.
[0076] Electronic payment processing system 18 also includes
support system 44. Support system 44 may provide one or more
customer functions. In some examples, support system 44 may include
a customer relationship management system, call center, etc.
Consequently, a prospective payment sender 40 and/or prospective
payment receiver 42 may send inquiries to support system 44 and
receive corresponding answers and assistance regarding the services
of electronic payment processing system 18. For instance,
prospective sender 40 may receive information about services of
electronic payment processing system 18 using instant messaging
while prospective receiver 42 may request information using a call
center phone number. In other examples, support system 44 can
implement any suitable functionality to provide customer support to
prospective customers.
[0077] In another example, the system of FIG. 2 may be used to
perform a donation of securities from a payment sender to a payment
receiver. Initially, user 12 may provide a user input to computing
device 54 that causes computing device 54 to display a user
interface that enables user 12 (e.g., donor) to donate securities
to a payment receiver (e.g., a donee). In some examples, the user
interface may be provided by an application installed on computing
device 54. For instance, computing device 54 may be a smartphone or
tablet that includes an application that enables the user 12 to
make a donation of securities in accordance with techniques of the
disclosure. In other examples, computing device 54 may include a
web browser or other application that retrieves content from
payment interchange system 66 that can be displayed by computing
device 54. The content may be a web page or other information that,
when displayed as a user interface, enables user 12 to make one or
more donations of securities.
[0078] Computing device 54 may display a user interface that
enables user 12 to make a donation of securities. In particular,
the user interface may, as further illustrated in FIGS. 7-13,
provide user interface elements, such as drop-down menus,
checkboxes, etc., to choose various parameters of the donation. For
instance, user 12 may select, from a list of brokers output for
display by computing device 54, a broker that currently maintains
custody of user 12's securities that the user wishes to donate.
User 12 may further provide user input at the user interface of
computing device 54 using the user interface to select and/or
provide one or more identifiers of the securities (e.g., one or
more securities ticker symbols). User 12 may also provide user
input at computing device 54 to specify the quantities of
securities that the user wishes to donate. In addition, user 12 may
provide user input at computing device 54 to specify the payment
receiver (e.g., donee). In accordance with techniques of the
disclosure, the user interface provided by computing device 54, may
provide user 12 with options, including but not limited to,
donating securities or making cash payments using securities.
[0079] In the current example of FIG. 2, the user wishes to make a
donation of the securities and therefore provides user input at the
user interface provided by computing device 54 to make a donation
of securities based on the previous user inputs that user 12
provided including, but not limited to: user identity of user 12,
securities identifier(s) (e.g., ticker symbol(s)), quantity of
securities, payment receiver (e.g., donee). Upon receiving the user
input to make the donation of securities, computing device 54 may
generate a message that corresponds to information provided by user
12. Computing device 54 may send the message to electronic payment
processing system 18. In some examples, computing device 54
generates a session with customer payment interchange system 66.
The session may use authentication and encryption to provide for
secure transmission of the message.
[0080] Payment interchange system 66 of electronic payment
processing system 18 may initially receive the message. Upon
receiving the message, payment interchange system 66 may verify,
using customer system 56, that the user identifier of user 12 (and
in some examples, authentication credentials such as a password)
that is specified in the message matches a user identifier in
customer system 56. Upon confirming that the user identifier is
valid with customer system 56, payment interchange system 66 may
generate a transfer message to be sent to securities clearinghouse
62 to transfer the requested securities for donation from user 12's
external brokerage firm account to an account of user 12 that is
managed by electronic payment processing system 18.
[0081] In some examples, the transfer message specifies an account
identifier of the source account of user 12 for the brokerage firm
that currently maintains custody of the securities, the one or more
identifiers of the securities, the one or more quantities of the
respective securities, and the destination account of user 12 to
which the securities will be transferred. In accordance with
techniques of the disclosure, electronic payment processing system
18 will manage the destination account for user 12. For example,
user 12 may have an account in brokerage accounts 25 that is
managed by electronic payment processing system 18. Therefore, the
transfer of securities when making a donation, may cause the
securities to be transferred from an external brokerage firm (e.g.,
financial services 64) to user 12's brokerage account that is
managed by electronic payment processing system 18 in an
inter-brokerage transfer. Electronic payment processing system 18
may then perform an intra-brokerage transfer from user 12's account
in broker accounts 25 to the payment receiver (e.g., donee) account
that is also managed in brokerage accounts 25 by electronic payment
processing system 18.
[0082] To initiate the inter-brokerage transfer, payment
interchange system 66 may send the transfer message to securities
clearinghouse 62. In some examples, securities clearinghouse 62 may
be the Automated Customer Account Transfer Service (ACATS).
Securities clearinghouse 62, upon receiving the transfer message,
generates an inter-brokerage message that specifies information,
including but not limited to, an brokerage identifier of the
brokerage firm that currently maintains custody of the securities
to be donated, an account identifier of user 12's account with the
identified brokerage firm, a quantity of one or more securities
specified by the transfer message received initially from payment
interchange system 66, and one or more identifiers of the one or
more securities specified in the transfer message.
[0083] Securities clearinghouse 62 sends the inter-brokerage
message to the brokerage firm of financial services 64 that is
identified by the brokerage identifier. The brokerage firm of
financial services 64 verifies that the transfer of securities
specified by the inter-brokerage message can be completed. That is,
the brokerage firm determines that the account associated with user
12 has the specified securities and the specified quantity. If the
transfer of securities cannot be completed, financial services 64
may send a notification message to securities clearinghouse 62,
which in turn sends a notification to payment interchange system 66
that can further send a notification to computing device 54 that
the transfer cannot be completed (e.g., insufficient quantity of
securities, no matching securities to identifier indicated in
inter-brokerage message, etc.).
[0084] If the brokerage firm of financial services 64 determines
that the transfer can be completed, the brokerage firm sends a
confirmation message to securities clearinghouse 62. Responsive to
receiving the confirmation message, securities clearinghouse 62
determines the identifier of the brokerage account of user 12 in
brokerage accounts 25 that are managed by electronic payment
processing system 18. The identifier of the brokerage account was
previously sent by payment interchange system 66 to securities
clearinghouse 62 when the initial transfer message was sent by
payment interchange system 66. Upon determining the identifier of
the brokerage account, securities clearinghouse 62 records
information indicating the transfer of securities from the original
brokerage firm that maintained the securities to user 12's account
in brokerage accounts 25. Securities clearinghouse 62 then sends a
confirmation message to payment interchange system 68 that
indicates the securities have been transferred from the original
brokerage firm of financial services 64 to user 12's account of
brokerage accounts 25 that are managed by electronic payment
processing system 18. Payment interchange system 66, upon receiving
the confirmation message may confirm the accuracy of the
transaction and/or send information of the message to accounting
system 60. Accounting system 60 may update information in data
stores 68 to indicate that the securities are maintained in user
12's account included in brokerage accounts 25.
[0085] In accordance with techniques of the disclosure, to perform
the transfer of securities as a donation, payment interchange
system 66 may automatically retitle the securities from user 12's
account in brokerage accounts 25 to the payment receiver's account
in brokerage accounts 25. Such retitling techniques may improve the
speed and/or ease of providing securities as donation and/or cash
payment. In such examples, by performing the retitling operations
as an intra-brokerage transfer, fewer messages may be sent by
electronic payment processing system, thereby reducing network
usage and/or improving security of such transactions. Moreover,
such retitling techniques may provide for centralized recordation
and reporting that may improve the accuracy and/or efficiency of
record-keeping and reporting for users that make donations of
securities or cash payment resulting from the sale of securities.
Although example retitling techniques of FIG. 2 are described using
an intra-brokerage transfer, one or more operations of the
techniques may be performed by communicating with using one or more
systems external to electronic payment processing system while
still realizing one or more benefits provided by techniques of the
disclosure.
[0086] The retitling process to transfer the securities as a
donation as performed by electronic payment processing system 18 is
now further described herein. In some examples, electronic payment
processing system 18 may operate as a brokerage firm that maintains
records of ownership of securities. For instance, data stores 68
may include an internal register that indicates information
including but not limited to the owner of a security and the
quantity of the security owned by the owner. When payment
interchange system 18 performs an intra-brokerage transfer of
securities as a donation in response to receiving an transfer
message from computing device 54 and the subsequent confirmation
message from securities clearinghouse 62, payment interchange
system 66 sends information to accounting system 60 that indicates
user 12's source account of brokerage accounts 25 that currently
includes the securities to be donated, the donor's destination
account of brokerage accounts 25 to which the securities will be
transferred, the quantity of the securities, and the identifiers of
the securities.
[0087] Accounting system 60 verifies that the quantity and identify
of the securities exists in user 12's account of brokerage accounts
25. Upon verifying that the intra-brokerage transfer may be
completed, accounting system 60 updates the internal register of
data stores 60 to indicate that the securities are retitled to the
payment receiver (e.g., donee). Specifically, accounting system 60
updates the internal register to indicate that securities are not
titled to user 12's account of brokerage accounts 25 and that the
securities are titled to the payment receiver's account of
brokerage accounts 25. By retitling the securities, accounting
system 60 indicates the change in ownership of the securities from
user 12 to the payment receiver, thereby performing a donation of
the securities from user 12 to the payment receiver. In some
examples, prior to or subsequent to the intra-brokerage transfer,
payment interchange system 66 may charge a fee for the transfer.
Accounting system 60 may record the fee charged and user to whom
the fee is charged. In some examples, accounting system 60 may
deduct cash from a cash account of the user for the fee.
[0088] In one example, an electronic payment processing system may
receive from a securities clearinghouse system, an indication of a
transfer of securities from a first account of a first user to a
second account of the first user, wherein the second account of the
first user is maintained by the electronic payment processing
system. The electronic payment processing system may update a
register included in a data store of a storage device to indicate a
transfer of ownership of the securities from the first user to a
second user. The electronic payment processing system may update
account information included in the data store of the storage
device to indicate a transfer of the securities from the second
account of the first user to a third account of the second
user.
[0089] In some examples, payment interchange system 66 may apply
one or more business rules to securities once the securities are
transferred to the account of the payment receiver. For instance,
payment interchange system 66 may automatically convert the
securities to cash based on a business rule. A business rule in
some examples may be configured by the payment receiver. In the
example of FIG. 2, the payment receiver may have configured a
business rule to convert any donated securities to cash. The
business rule may therefore specify the type of transaction (e.g.,
donation) and destination account in brokerage accounts 25 that
will store the cash from the converted securities. Payment
interchange system 66, upon determining that a business rule is
associated with transfer of securities, determines that the type of
transfer is a donation. Consequently, payment interchange system 66
performs a sale of the securities by submitting a sell order for
the securities to one or more securities exchanges.
[0090] Upon receiving confirmation of the sale of securities and
the value of cash received for the sale of securities, payment
interchange system 66 sends information to accounting system 60
that causes accounting system 60 to update information in data
stores 68 to indicate a deposit the cash equal to the sale of the
securities in the payment receiver's account. In some examples,
payment interchange system 66 may send one or more messages to
financial services 64 to deposit the cash in an account of the
payment receiver that exists outside of electronic payment
processing system 18. For instance, payment interchange system 66
may use well-known money wire services or automated clearing houses
to transfer the cash to accounts that exist outside of electronic
payment processing system 18. In any case, accounting system 60 may
also update information in data stores 68 to indicate that the
securities that were previously sold are no longer titled to the
payment receiver. In some cases, payment interchange system 66
allows a payment receiver to hold the donation in the form of
securities and later manually convert the securities to cash. Such
techniques are further described in FIG. 12.
[0091] In some examples, payment interchange system 66 may send one
or more notifications to the payment sender and the payment
receiver. For instance, payment interchange system 66 may send
information using any of various suitable forms of communication,
such as email, text message, push notification, etc. Information
included in a notification to a computing device of the payment
sender may indicate the price of the securities at the time of
transfer. The notification may indicate that the transfer was a
success and may indicate remaining balance information about the
payment sender's accounts. In some examples, the notification may
indicate the value of the donation when the securities were
received by the payment receiver. That is, the value of the
donation may fluctuate based on trading in exchanges while
electronic payment processing system 18 is completing the transfer,
so the value of the donation when received by the payment receiver
may be different than the value of the donation when the transfer
was initiated by the payment sender. In some examples, payment
interchange system 66 may send such information as described above
to a computing device of the payment receiver. In addition, if the
payment receiver causes securities to be converted to cash, payment
interchange system 66 may send a notification to the computing
device of the payment receiver that indicates information
including, but not limited to, the value of the securities at the
time the conversion was initiated, the value of cash received by
the payment sender in exchange for the sale of securities, the
updated balance of cash, etc. The type, frequency, triggers, and
other parameters associated with such notifications may be
configurable by users have accounts with payment interchange system
66.
[0092] FIG. 3 is a flowchart illustrating example operations of an
electronic payment processing system 18 to facilitate payments
using securities, in accordance with techniques of this disclosure.
The example operations may be performed by electronic payment
processing system 18 as described in the examples of FIGS. 1-2.
[0093] Initially, electronic payment processing system 18 receives
an electronic request from computing device 54 of user 12 to pay
for goods and services 23 using stock (80). In response to
receiving the request, electronic payment processing system 18
determines whether user 12 is authorized to use electronic payment
processing system 18 (82). For instance, electronic payment
processing system 18 may establish a secure communication channel
with computing device 54. Electronic payment processing system 18
may also use one or more authentication techniques to authenticate
user 12. If user 12 is not authenticated (84), electronic payment
processing system 18 sends a notification to computing device 54
that the transaction cannot be completed (108). The notification
may indicate that user 12 is not authorized to use the system.
[0094] In the example of FIG. 3, electronic payment processing
system 18 determines whether user 12 is authorized to use
electronic payment processing system 18 (86). Electronic payment
processing system 18 also determines whether user 12 possesses a
sufficient quantity of stock for payment (88). For instance,
electronic payment processing system 18 may query one or more
financial services 64 and/or accounting system 60 to determine
whether user 12 has sufficient stock to complete the payment. If
user 12 has insufficient stock (90), electronic payment processing
system 18 sends a notification to computing device 54 that the
transaction cannot be completed.
[0095] If user 12 has a sufficient quantity of stock to complete
the payment (92), electronic payment processing system 18
determines the payment account, payment type, and payment amount
(88). For instance, electronic payment processing system 18
determines the payment type is stock. Electronic payment processing
system 18 further determines the account associated with the stock.
In some examples, electronic payment processing system 18 also
determines the payment amount, which in some examples, may include
a stock price, stock quantity, or product of a stock price and
stock quantity.
[0096] Using the payment account, type, and payment, electronic
payment processing system 18, determines whether electronic payment
processing system 18 has custody of the stock (96). For instance,
electronic payment processing system 18 may determine whether a
legal entity that owns and/or maintains electronic payment
processing system 18 has custody of the stock. If electronic
payment processing system 18 does not have custody of the stock
(100), electronic payment processing system 18 obtains custody by
sending a request to securities clearinghouse 62 (102). Upon
receiving the stock from securities clearinghouse 62, electronic
payment processing system 18 includes the stock in one or more of
brokerage accounts 25 that are maintained by electronic payment
processing system 18. In some examples, obtaining custody of the
stock may further include electronic payment processing system 18
retitling the stock. Alternatively, if electronic payment
processing system 18 does have custody of the stock (98),
electronic payment processing system 18 proceeds to convert the
stock into electronic currency for payment to provider 22.
[0097] In some examples, electronic payment processing system 18
converts the stock to electronic currency by selling the stock to a
purchaser and receiving cash in the form of electronic currency
(104). To perform the sale of the stock, electronic payment
processing system 18, sends a request to securities clearinghouse
62, which transfers custody of the stock to a purchaser in exchange
for electronic currency. Once electronic payment processing system
18 has received the electronic currency, electronic payment
processing system 18 transfers the currency to computing device 52,
which is associated with provider 22 (106). For example, electronic
payment processing system 18 may transfer the electronic currency
to a brokerage account of provider 22 and further notify provider
22 of the transfer.
[0098] FIG. 4 is a conceptual diagram illustrating further details
of electronic payment processing system 18, in accordance with one
or more techniques of the present disclosure. As shown in FIG. 4,
electronic payment processing system 18 further illustrated into
logical layers that include system layer 120 and device layer 122.
Device layer 122 includes components, such as processor 510, memory
530, storage device 540, and input/output (I/O) elements 550.
Components of device layer 122 are coupled by one or more buses
520. In some examples, device layer 122 provides an operating
environment for components of system layer 120. Components of
device layer 122 are described in further detail in FIG. 5
[0099] FIG. 4 also includes system layer 120. System layer 120 may
include one or more components that implement techniques of the
disclosure. In some examples, the components may be modules and/or
applications that perform one or more operations. The components
and/or modules may be implemented as software, hardware, and/or a
combination of hardware and software. Example components of system
layer 120 include management system 126, support system 44, sales
& marketing system 48, customer system 56, and payment
interchange system 66. In some examples, each of the components of
electronic payment processing system 18 may be on a single
computing device, such as a server computing device, desktop
computing device, etc. In other examples, one or more components of
electronic payment processing system 18 may be distributed on
separate computing devices. In such examples, the components of
system layer 120 may communicate via communication links, such as a
TCP/IP network.
[0100] In the example of FIG. 4, electronic payment processing
system 18 includes a management system 126. In some examples,
management system 126 generates for display, a graphical user
interface (GUI) that an administrator 124 may interact with to
configure and maintain components of electronic payment processing
system 18. For instance, a GUI provided by management system 126
may enable administrator 124 to perform one or more administrative
functions, such as modifying customer information, manually
completing payments, etc. In such examples, administrator 124 may
provide user input that causes management system 126 to further
communicate with components of system layer 120 to perform
operations specified by the user input.
[0101] As shown in FIG. 4, components of system layer 120 are
stored at memory 530 and storage device 540. Processor 510 performs
one or more operations of the components of system layer 120 by
executing various instructions of the components. For instance,
payment interchange system 66 initially receives an electronic
request from a computing device of a user 12 to pay for goods
and/or services using stock. The request may include a stock
quantity, payment type, and identifier of an account associated
with the stock. In response to receiving the request, customer
system 56 determines whether the user has access to electronic
payment processing system 18.
[0102] In the current example, the user 12 has access to use
electronic payment processing system 18. Payment interchange system
66 further determines the payment type to be stock. Consequently,
payment interchange system 66 determines whether electronic payment
processing system 18 has custody of the stock in one or more of
brokerage accounts 25. Because electronic payment processing system
18 does not initially have custody of the stock in the example of
FIG. 4, payment interchange system 66 sends a request to a
securities clearinghouse 62 to request custody of the stock.
[0103] Upon receiving custody of the stock, payment interchange
system 66 includes the stock in one or more of brokerage accounts
25 associated with user 12. Payment interchange system 66 converts
the stock to electronic currency by completing an electronic sale
of the stock. In response to completing the electronic sale of the
stock, payment interchange system 66 receives electronic currency
in return for the sale of stock. Payment interchange system 66 then
transfers the payment electronically to a computing device that
manages an account associated with the payment recipient.
[0104] FIG. 5 shows a detailed example of various devices that may
be configured to execute program code to practice some embodiments
in accordance with the current disclosure. For example, device 500
may be an electronic payment processing system 18 that facilitates
payment for goods and services 23 using stock in accordance with
the techniques described herein. In another example, device 500 may
be an example of computing device 54 of user 12 as illustrated in
FIG. 2. I another example, device 500 may be an example of
computing device 52 of provider 22.
[0105] In the example illustrated in FIG. 5, a computer 500
includes a processor 510 that is operable to execute program
instructions or software, causing the computer to perform various
methods or tasks. Processor 510 is coupled via bus 520 to a memory
530, which is used to store information such as program
instructions and other data while the computer is in operation. A
storage device 540, such as a hard disk drive, nonvolatile memory,
or other non-transient storage device stores information such as
program instructions, data files of the multidimensional data and
the reduced data set, and other information. The computer also
includes various input-output elements 550, including parallel or
serial ports, USB, Firewire or IEEE 1394, Ethernet, and other such
ports to connect the computer to external device such as a printer,
video camera, surveillance equipment or the like. Other
input-output elements may include wireless communication interfaces
such as Bluetooth, Wi-Fi, and cellular data networks.
[0106] In one example, an electronic payment processing system
includes an interface to receive an electronic payment request for
a transaction associated with a provider of goods or services. The
electronic payment processing system may include a processor
configured to execute program code for processing the payment
request with a payment processing system to identify one or more
accounts associated with a recipient of the goods or services and
to determine whether the identified accounts have sufficient stock
assets to satisfy an amount specified by the payment request. In
some examples, the program code issues an electronic response
message from the payment processing system indicating pending
payment for the transaction when the identified account has
sufficient stock assets to satisfy the amount specified by the
payment request.
[0107] In one example, an electronic payment processing system
includes means for receiving an electronic payment request for a
transaction associated with a provider of goods or services. The
electronic payment processing system may also include means for
processing the payment request with a payment processing system to
identify one or more accounts associated with a recipient of the
goods or services and to issue electronic payment for the
transaction using stock assets sufficient to satisfy the amount
specified by the payment request.
[0108] FIG. 6 is a conceptual diagram illustrating a user interface
to select a brokerage firm using an aggregation service in
accordance with the current disclosure. As previously described,
electronic payment processing system 18 may use an aggregation
service to retrieve and/or combine information for multiple
accounts of user 12 into one or more consolidated views that are
displayable in a user interface output by computing device 54 of
user 12. For instance, user 12 may initially enroll in electronic
payment processing system 18 by creating an account. User 12 may
interact through a user interface provided by computing device 54
to provide account information such as name, address, phone number,
etc. The user interface may be implemented as, for example, a
Hypertext Markup Language document retrieved from electronic
payment processing system 18, or may be a user interface of an
application executing at computing device 54. In any case, upon
enrolling in electronic payment processing system 18, the user
interface of computing device 54 may prompt user 12 whether he or
she would like to use the aggregation service to display multiple
accounts in the user interface. If user 12 provides a user input to
decline using the aggregation service, the user interface may
change to the user interface as illustrated in FIG. 7, which allows
user 12 to choose whether to use securities to make a donation or
cash payment.
[0109] User 12 may alternatively provide a user input to indicate
that user 12 will use the aggregation service. Upon providing the
user input, computing device 54 may generate a user interface 600
for display that can collect information for all of the accounts
that user 12 would like to aggregate. As described above, user
interface 600 generated for display by computing device 54 may be
based on information received from electronic payment processing
system 18, such as a web page, or may be based on program logic
included in application executing at computing device 54, such as a
smartphone or desktop application.
[0110] FIG. 6 illustrates a user interface 600 output by computing
device 54 that enables user 12 to provide user input to select a
brokerage firm in order to add the brokerage firm from an
aggregation service. As shown in user interface 600 of FIG. 6,
computing device 54 may output a drop-down menu 602 or other
suitable user interface element that lists each brokerage firm with
which user 12 has an account. A user interface element, generally,
may be any component of a user interface that can display and/or
receive information. A user interface element, in some examples,
may be selectable and/or configurable in response to user input.
Responsive to such user input the user interface element may store
data corresponding to the user interface element and/or initiate
one or more operations at a computing device.
[0111] In some examples, electronic payment processing system 18
may query an aggregation service, retrieve data for user 12 that
indicates each brokerage firm, and send the data to computing
device 54, which outputs the brokerage firms. Drop-down menu 602
may include a selectable element for each brokerage firm. For
instance, user 12 may provide a user input to select element 604
that corresponds to "Brokerage Firm 1." User 12 may have an account
with "Brokerage Firm 1" that includes securities. Upon selecting
element 604, computing device 54 may output for display an updated
user interface to obtain credentials to access the account of
"Brokerage Firm 1."
[0112] In some examples, a computing device of a user may output
for display, a second user interface that includes a plurality of
representations of brokerage firms, wherein each of the brokerage
firms includes an account of the user. The computing device may
receive a user input to select at least one of the plurality of
representations of brokerage firms. The computing device may send
to the electronic payment processing system, one or more messages
that indicate at least one brokerage firm corresponding to the
selected at least one of the plurality of representations of
brokerage firms. In some examples, the one or more securities are
maintained by the at least one brokerage firm prior to generating
the one or more messages that include the information indicating
the one or more securities and the at least one of the transfer and
the cash payment.
[0113] FIG. 7A is a conceptual diagram illustrating a user
interface to receive user input authentication credentials using an
aggregation service in accordance with the current disclosure. As
shown in FIG. 7A, user interface 700 may include a drop-down menu
702. Drop-down menu 702 may include user interface elements 704 and
706. User interface element 704 may include the name of the
brokerage firm previously selected by user 12, for example,
"Brokerage Firm 1." In addition, user interface 700 may include
user interface element 706, which may be an input field. User 12
may provide user input to indicate the username of the user 12 for
the account managed by "Brokerage Firm 1." In some examples, upon
providing the user input, computing device 54 may output an updated
user interface to obtain a password that, in combination with the
username, provides access to user 12's account at "Brokerage Firm
1." Although illustrated as drop-down menu 702, user interface 700
may include any suitable user interface elements to receive a
username for the account of user 12.
[0114] FIG. 7B is a conceptual diagram illustrating a user
interface to receive input user authentication credentials using an
aggregation service in accordance with the current disclosure. As
shown in FIG. 7B, user interface 710 may include a drop-down menu
712. Drop-down menu 712 may include user interface elements 704 and
706. User interface element 714 may include the name of the
brokerage firm previously selected by user 12. In addition, user
interface 710 may include user interface element 716, which may be
an input field. User 12 may provide user input to indicate the
password of user 12 that, in combination with the user name,
provides access to user 12's account at "Brokerage Firm 1." In some
examples, upon providing the user input, computing device 54 may
output an updated user interface to elect whether to use securities
to make a donation or cash payment. Although illustrated as
drop-down menu 712, user interface 710 may include any suitable
user interface elements to receive a password for the account of
user 12. In addition, computing device 54, in some examples, may
present one or more additional user interfaces to receive any other
optional or required account information.
[0115] FIG. 7C is a conceptual diagram illustrating a user
interface to receive a user input that indicates whether to make a
donation or cash payment using securities in accordance with the
current disclosure. As shown in FIG. 7C, user interface 720 may
include one or more button user interface elements 722 and 724. If
user 12 wishes to make a donation using securities, user 12 may
provide a user input to select button user interface element 722.
Alternatively, if user 12 wishes to make a cash payment using
securities, user 12 may provide a user input to select button user
interface element 724. Upon providing a user input to make a
selection of one of button user interface elements 722 and 724,
computing device 52 may output an updated user interface to specify
the parameters of the transaction. For instance, in the example of
FIG. 7C, user 12 may provide a user input to select button user
interface element 722. In some examples, a computing device may
receive a user input that indicates information comprising at least
one of: a donee of the transfer of the one or more securities as
the donation, and the provider of goods or services to receive the
cash payment based on the sale of the one or more securities; and
including, by the computing device, the information indicated by
the user input in the one or more messages.
[0116] FIG. 8 is a conceptual diagram illustrating a user interface
to receive a user input to make a donation using securities in
accordance with the current disclosure. In some examples, a
computing device may output for display, a user interface that
includes one or more user interface elements to receive information
that indicate one or more securities and at least one of: a
transfer of the one or more securities as a donation, and a cash
payment to a provider of goods or services based on a sale of the
one or more securities. The computing device may receive
information indicating the one or more securities and the at least
one of the transfer and the cash payment. The computing device may
generate one or more messages that include the information
indicating the one or more securities and the at least one of the
transfer and the cash payment. The computing device may send to an
electronic payment processing system, the one or more messages.
[0117] FIG. 8 illustrates a user interface 800 that allows user 12
to provide one or more selections in the form of user inputs to
make a donation. As shown in FIG. 8, user interface 800 may include
one or more regions that display brokerage firm information for
brokerage firms that user 12 configured as part of the aggregation
process. For instance, region 802 may list one or more securities
included in user 12's account managed by "Brokerage Firm 1."
Similarly, region 804 may include one or more securities included
in user 12's account managed by "Brokerage Firm 2." As shown in the
example of FIG. 8, region 802 may include one or more checkboxes
that correspond to securities included in user 12's account. User
12 may provide a user input at user interface 800 to select or
"check" checkbox 806. User 12 provides the user input to select
checkbox 806 to select the securities associated with checkbox 806
for donation. In some examples, user 12 may provide one or more
user inputs to select multiple different securities from one or
more of "Brokerage Firm 1" and "Brokerage Firm 2".
[0118] For each checkbox selected, user interface 800 may include a
user interface element 808. User interface element 808 may allow
user 12 to specify the quantity and/or value of the selected
securities indicated in region 802 and/or 804. For instance, user
interface 800 may include user interface element 808, which
corresponds to "SECURITIES A" that user 12 wishes to donated as
indicated by selected checkbox 806. User interface element 808 may
include an input field 810 or other suitable user interface element
that enables user 12 to provide user input that specifies the
quantity of "SECURITIES A" to donate. User interface element 808
may include an input field 812 or other suitable user interface
element that enables user 12 that specifies the value of
"SECURITIES A" to donate. In other words, by specifying a value of
the securities, computing device 54 may automatically determine the
appropriate number of shares of the securities based on the current
value of the securities. In some examples, by inputting a value of
one of 810 or 812, the value for the other of 810 and 812 is
automatically displayed.
[0119] User interface 800 may also include drop-down menu 814 that
enables user 12 to provide a user input to select the payment
receiver (e.g., donee, charity, etc.). As shown in the example of
FIG. 8, dropdown menu 814 may include a list of payment receiver
names. Computing device 54 may receive the payment receiver names
from electronic payment processing system 18. In some examples,
user 12 may configure the payment receivers, while in other
examples, one or more of the payment receivers may be automatically
configured by electronic payment processing system 18. User 12 may
provide a user input to select a checkbox associated with the
desired payment receiver, e.g., "CHARITY 1", in FIG. 8. Upon
selecting the checkbox corresponding to the payment receiver, user
12 may provide a user input to select user interface element button
818 included in user interface 800. In some examples, upon
receiving user input to select user interface element button 818,
computing device 54 may output for display a prompt to confirm
whether the user wishes to perform the transaction. In some
examples, user interface 800 may also include one or more user
interface elements and/or receive an indication of one or more
accounts within a brokerage firm that the user wishes to select the
securities. In some examples, user interface 800 may also include
one or more balances of securities (e.g., in value and/or quantity
form) in a respective brokerage firm or account of a brokerage
firm.
[0120] Responsive to determining that user 12 has provided a user
input to select user interface element button 818, computing device
54 may determine the user inputs previously provided by user 12 in
user interface 800. For instance, computing device 54 determines
that "50" shares worth "$5000" of "SECURITIES A" that are managed
by "BROKERAGE FIRM 1" shall be donated to "CHARITY 1". Computing
device 54 will generate one or more messages that indicate
information that specifies the transfer of securities as a donation
as indicated by user 12's selection in user interface 800 of FIG.
8. In particular, because user 12 has indicated the transfer will
be a donation, computing device 54 may send one or more messages to
electronic payment processing system that indicate the transfer is
a donation. As described herein, electronic payment processing
system may receive the one or more messages and perform the
transfer of securities to the payment receiver as a donation based
on the information of the one or more messages, in accordance with
techniques of the disclosure.
[0121] In this way, user interface 800 of FIG. 8 may enable a user
to select a payment receiver (e.g., charity, donee, etc), the
brokerage firm that currently includes the securities, and the
securities to donate. User interface 800 may enable a user to
indicate how many shares of the securities to donate or a dollar
amount that computes the approximate number of shares required for
the donation. User interface 800 may also output an estimated tax
benefit to the user at various tax bracket levels.
[0122] In some examples, user interface 800 may include one or more
user interface elements that receive user input from a user to make
a donation using multiple sources of funding. For instance, user 12
may fund 50% of a donation with stock and 50% of the donation with
an alternative payment source. Alternative payment sources may
include savings accounts, checking accounts, credit cards, other
securities from the same or different brokerage, or any other
suitable source of funding. Furthermore, any combination of one or
more funding sources may be used with differing or the same
proportions of funds being donated from each source. User 12 can
provider user input at user interface 800 to add and/or specify the
information for each funding source, quantity and/or value of
funding source, and/or any other suitable information to make the
donation using multiple sources of funding.
[0123] FIG. 9 is a conceptual diagram illustrating a user interface
to receive a user input to make a cash payment using securities in
accordance with the current disclosure. FIG. 9 illustrates a user
interface 900 that allows user 12 to provide one or more selections
in the form of user inputs to make a donation. As shown in FIG. 9,
user interface 900 may include one or more regions that display
brokerage firm information for brokerage firms that user 12
configured as part of the aggregation process. For instance, region
902 may list one or more securities included in user 12's account
managed by "Brokerage Firm 1." Similarly, region 904 may include
one or more securities included in user 12's account managed by
"Brokerage Firm 2." As shown in the example of FIG. 9, region 902
may include one or more checkboxes that correspond to securities
included in user 12's account. User 12 may provide a user input at
user interface 900 to select or "check" checkbox 906. User 12
provides the user input to select checkbox 906 to select the
securities associated with checkbox 906 for the cash payment. In
some examples, user 12 may provide one or more user inputs to
select multiple different securities from one or more of "Brokerage
Firm 1" and "Brokerage Firm 2".
[0124] For each checkbox selected, user interface 900 may include a
user interface element 908. User interface element 908 may allow
user 12 to specify the quantity and/or value of the selected
securities indicated in region 902 and/or 904. For instance, user
interface 900 may include user interface element 908, which
corresponds to "SECURITIES A" that user 12 wishes convert to cash
to make a cash payment as indicated by selected checkbox 906. User
interface element 908 may include an input field 910 or other
suitable user interface element that enables user 12 to provide
user input that specifies the quantity of "SECURITIES A" to sell in
order to make the cash payment. User interface element 908 may
include an input field 912 or other suitable user interface element
that enables user 12 that specifies the value of "SECURITIES A" to
sell in order to make the cash payment. In other words, by
specifying a value of the securities, computing device 54 may
automatically determine the appropriate number of shares of the
securities based on the current value of the securities. In some
examples, by inputting a value of one of 910 or 912, the value for
the other of 910 and 912 is automatically displayed.
[0125] User interface 900 may also include drop-down menu 914 that
enables user 12 to provide a user input to select the payment
receiver (e.g., business partner, retail store, etc.). As shown in
the example of FIG. 9, dropdown menu 914 may include a list of
payment receiver names. Computing device 54 may receive the payment
receiver names from electronic payment processing system 18. In
some examples, user 12 may configure the payment receivers, while
in other examples, one or more of the payment receivers may be
automatically configured by electronic payment processing system
18. User 12 may provide a user input to select a checkbox
associated with the desired payment receiver, e.g., "PARTNER 1", in
FIG. 9. Upon selecting the checkbox corresponding to the payment
receiver, user 12 may provide a user input to select user interface
element button 918 included in user interface 900.
[0126] In some examples, user interface 900 may also include one or
more user interface elements and/or receive an indication of one or
more accounts within a brokerage firm that the user wishes to
select the securities. In some examples, user interface 900 may
also include one or more balances of securities (e.g., in value
and/or quantity form) in a respective brokerage firm or account of
a brokerage firm. In some examples, upon receiving user input to
select user interface element button 918, computing device 54 may
output for display a prompt to confirm whether the user wishes to
perform the transaction.
[0127] Responsive to determining that user 12 has provided a user
input to select user interface element button 918, computing device
54 may determine the user inputs previously provided by user 12 in
user interface 900. For instance, computing device 54 determines
that "50" shares worth "$5000" of "SECURITIES A" that are managed
by "BROKERAGE FIRM 1" shall be converted to cash and deposited in
an account associated with "PARTNER 1". Computing device 54 will
generate one or more messages that indicate information that
specifies the conversion of securities to make a cash payment as
indicated by user 12's selection in user interface 900 of FIG. 9.
In particular, because user 12 has indicated the transaction will
be a cash payment, computing device 54 may send one or more
messages to electronic payment processing system 18 that indicates
the transfer as cash payment. As described herein, electronic
payment processing system may receive the one or more messages and
perform the conversion of securities to cash based on the
information of the one or more messages, in accordance with
techniques of the disclosure.
[0128] User interface 900 may enable a user to indicate how many
shares of the securities to convert in the cash payment or a dollar
amount that computes the approximate number of shares required for
the cash payment. In some examples, user interface 900 may include
one or more user interface elements that receive user input from a
user to make payment using securities with multiple sources of
funding. For instance, user 12 may fund 50% of cash payment with
stock and 50% of the donation with an alternative payment source.
Alternative payment sources may include savings accounts, checking
accounts, other securities from the same or different brokerage, or
any other suitable source of funding. Furthermore, any combination
of one or more funding sources may be used with differing or the
same proportions of funds from each source. User 12 can provider
user input at user interface 900 to add and/or specify the
information for each funding source, quantity and/or value of
funding source, and/or any other suitable information to make the
cash payment using multiple sources of funding.
[0129] FIG. 10 is a conceptual diagram illustrating a user
interface to receive a user input to make a direct donation using
securities in accordance with the current disclosure. As shown in
FIG. 10, user interface 1000 allows user 12 to make a direct
donation of securities. That is, user interface 1000 enables user
12 to directly provide alphanumeric input or any other suitable
direct form of input values, to specify the parameters of the
donation of securities. For instance, as shown in FIG. 10, user
interface 1000 may include dropdown menu 1002. In other examples,
dropdown menu 1002 may also be any other suitable user interface
element for displaying and selecting one or more input values.
Dropdown menu 1002 may display one or more brokerage firms that
based on information user 12 previously configured using an
aggregation service. In the example of FIG. 10, user 12 may provide
a user input to select "Brokerage Firm 1." "Brokerage Firm 1" may
include one or more accounts associated with user 12 that includes
one or more securities.
[0130] User interface 1000 may also include input field 1004 to
receive an account number that identifies that account of user 12
including securities that user 12 wishes to donate. Although shown
as an input field, input field 1004 may be any suitable user
interface element for receiving user input. In some examples, user
12 may select input field 1004 and provide user input by typing
and/or gesturing at a keyboard, providing voice input, or any other
suitable form of providing user input. FIG. 10 also includes input
field 1006. Input field 1006 may allow user 12 to provide user
input to specify an identifier or symbol of the security to be
donated and the number of shares to be donated. Any suitable user
interface element may be used to receive the user input.
[0131] In some examples, user interface 1000 may also include
dropdown menu 1008. Dropdown menu 1008 may allow user 12 to provide
user input to select a payment receiver of the securities as a
donation (e.g., a charity, donee, etc.). As shown in FIG. 10,
dropdown menu 1008 may list one or more user interface elements
1010 that user 12 may select by providing user input. User 12, for
example, provides a user input to select user interface element
1010, which is illustrated as a checkbox in the current example.
That is, user 12 has provided user input to indicate that the
donation of securities shall be made to "CHARITY 1."
[0132] User interface 1000 may include a user interface element
1012. User interface element 1012 may display the quantity and/or
value of the selected securities indicated in user interface
element 1006. For instance, user interface 1000 may include user
interface element 1012, which corresponds to the identifier (e.g.,
symbol) of the security that user 12 wishes to donate as indicated
in user interface element 1006. User interface element 1012 may
display the quantity 1014 of the securities to donate and the value
1016 of the securities to donate. In other words, by specifying the
identifier and shares in user interface element 1006, computing
device 54 may automatically determine the value (e.g., cost-basis)
of the securities based on the indicated number of shares.
[0133] Upon providing the various information to the user interface
elements of user interface 1000, user 12 may provide a user input
to select user interface element button 1018 included in user
interface 1000. Responsive to determining that user 12 has provided
a user input to select user interface element button 1018,
computing device 54 may determine the user inputs previously
provided by user 12 in user interface 1000. For instance, computing
device 54 determines that the brokerage firm, account number,
identifier of securities, quantity of securities, and payment
receiver to perform the transfer of securities. Computing device 54
may generate one or more messages that indicate information that
specifies the transfer of securities as a donation as indicated by
user 12's selection in user interface 1000 of FIG. 10. In
particular, because user 12 has indicated the transfer will be a
donation, computing device 54 may send one or more messages to
electronic payment processing system that indicate the transfer is
a donation. As described herein, electronic payment processing
system may receive the one or more messages and perform the
transfer of securities to the payment receiver as a donation based
on the information of the one or more messages, in accordance with
techniques of the disclosure.
[0134] User interface 1000 may enable a user to indicate how many
shares of the securities to donate or a dollar amount that computes
the approximate number of shares required for the donation. User
interface 1000 may also output an estimated tax benefit to the user
at various tax bracket levels. In some examples, user interface
1000 may include one or more user interface elements that receive
user input from a user to make a donation using multiple sources of
funding. For instance, user 12 may fund 50% of a donation with
stock and 50% of the donation with an alternative payment source.
Alternative payment sources may include savings accounts, checking
accounts, other securities from the same or different brokerage, or
any other suitable source of funding. Furthermore, any combination
of one or more funding sources may be used with differing or the
same proportions of funds being donated from each source. User 12
can provide user input at user interface 1000 to add and/or specify
the information for each funding source, quantity and/or value of
funding source, and/or any other suitable information to make the
donation using multiple sources of funding.
[0135] FIG. 11 is a conceptual diagram illustrating a user
interface to receive a user input to make a direct cash payment
using securities in accordance with the current disclosure. As
shown in FIG. 11, user interface 1100 allows user 12 to make a
direct cash payment using securities. That is, user interface 1100
enables user 12 to directly provide alphanumeric input or any other
suitable direct form of input values, to specify the parameters of
a conversion of securities to cash in order to make a cash payment.
For instance, as shown in FIG. 11, user interface 1100 may include
dropdown menu 1102. In other examples, dropdown menu 1102 may also
be any other suitable user interface element for displaying and
selecting one or more input values. Dropdown menu 1102 may display
one or more brokerage firms that based on information user 12
previously configured using an aggregation service. In the example
of FIG. 11, user 12 may provide a user input to select "Brokerage
Firm 1." "Brokerage Firm 1" may include one or more accounts
associated with user 12 that includes one or more securities.
[0136] User interface 1100 may also include input field 1104 to
receive an account number that identifies that account of user 12
including securities that user 12 wishes to convert to cash in
order to make a cash payment. Although shown as an input field,
input field 1104 may be any suitable user interface element for
receiving user input. In some examples, user 12 may select input
field 1104 and provide user input by typing and/or gesturing at a
keyboard, providing voice input, or any other suitable form of
providing user input. FIG. 11 also includes input field 1106. Input
field 1106 may allow user 12 to provide user input to specify an
identifier or symbol of the security to be donated and the number
of shares to convert to cash to make the cash payment. Any suitable
user interface element may be used to receive the user input.
[0137] In some examples, user interface 1100 may also include
dropdown menu 1108. Dropdown menu 1108 may allow user 12 to provide
user input to select a payment receiver of the cash proceeds from
the sale of securities. As shown in FIG. 11, dropdown menu 1108 may
list one or more user interface elements 1110 that user 12 may
select by providing user input. User 12, for example, provides a
user input to select user interface element 1110, which is
illustrated as a checkbox in the current example. That is, user 12
has provided user input to indicate that the cash from the sale of
securities shall be made to "PARTNER 1."
[0138] User interface 1100 may include a user interface element
1112. User interface element 1112 may display the quantity and/or
value of the selected securities indicated in user interface
element 1106. For instance, user interface 1100 may include user
interface element 1112, which corresponds to the identifier (e.g.,
symbol) of the security that user 12 wishes to donate as indicated
in user interface element 1106. User interface element 1112 may
display the quantity 1114 of the securities to donate and the value
1116 of the securities to donate. In other words, by specifying the
identifier and shares in user interface element 1106, computing
device 54 may automatically determine the value of the securities
based on the indicated number of shares.
[0139] Upon providing the various information to the user interface
elements of user interface 1100, user 12 may provide a user input
to select user interface element button 1018 included in user
interface 1100. In some examples, upon receiving user input to
select user interface element button 1018, computing device 54 may
output for display a prompt to confirm whether the user wishes to
perform the transaction. In some examples, user interface 1000 may
also include one or more user interface elements and/or receive an
indication of one or more accounts within a brokerage firm that the
user wishes to select the securities.
[0140] Responsive to determining that user 12 has provided a user
input to select user interface element button 1018, computing
device 54 may determine the user inputs previously provided by user
12 in user interface 1100. For instance, computing device 54
determines that the brokerage firm, account number, identifier of
securities, quantity of securities, and payment receiver to perform
the transfer of securities. Computing device 54 will generate one
or more messages that indicate information that specifies the
conversion of securities to cash as indicated by user 12's
selection in user interface 1100 of FIG. 11. In particular, because
user 12 has indicated the transaction will be a conversion of
securities to cash, computing device 54 may send one or more
messages to electronic payment processing system that indicate the
transfer is conversion of securities to cash. Electronic payment
processing system 18 may receive the one or more messages and
perform the conversion of securities to cash. The cash may be
transferred to an account of the payment receiver based on the
information of the one or more messages received from computing
device 54, in accordance with techniques of the disclosure.
[0141] User interface 1100 may enable a user to indicate how many
shares of the securities to convert in the cash payment or a dollar
amount that computes the approximate number of shares required for
the cash payment. In some examples, user interface 1100 may include
one or more user interface elements that receive user input from a
user to make payment using securities with multiple sources of
funding. For instance, user 12 may fund 50% of cash payment with
stock and 50% of the donation with an alternative payment source.
Alternative payment sources may include savings accounts, checking
accounts, other securities from the same or different brokerage, or
any other suitable source of funding. Furthermore, any combination
of one or more funding sources may be used with differing or the
same proportions of funds from each source. User 12 can provider
user input at user interface 1100 to add and/or specify the
information for each funding source, quantity and/or value of
funding source, and/or any other suitable information to make the
cash payment using multiple sources of funding.
[0142] FIG. 12 is a conceptual diagram illustrating a user
interface for a payment receiver to manage donations of securities
in accordance with the current disclosure. User interface 1200
enables a payment receiver (e.g., provider 22 in FIG. 2) that
receives a donation of securities to take various actions with
respect to the donation. For instance, the payment receiver wish
for donations of securities to be automatically converted by
electronic payment processing system 18 to cash based on one or
more conditions or business rules. In this way, user interface 1200
enables the payment receiver to configure electronic payment
processing system 18 to automatically perform one or more transfer
and/or conversion actions on donated securities. Thus, in one
example, a computing device may output for display, one or more
user interface elements to receive information that indicates a
condition that when satisfied causes the electronic payment
processing system to convert of securities to cash. The computing
device may receive a user input that specifies the condition that
when satisfied causes the electronic payment processing system to
convert of securities to cash. The computing device may generate
one or more messages that include the information indicating the
securities and specifying the condition; and send to the electronic
payment processing system, the one or more messages.
[0143] In the example of FIG. 12, user interface 1200 may include
dropdown menu 1202. Dropdown menu 1202 may include one or more sell
position options, such as represented by user interface element
1204. For example, the payment receiver may provide a user input to
indicate that electronic payment processing system 18 shall convert
donations to cash (e.g., sold) upon receipt of the securities in
the payment receiver's account, as indicated by selected checkbox
1204. In other examples, the payment receiver may specify that
electronic payment processing system 18 shall convert the
securities to cash on a monthly, quarterly, or other user-defined
interval. In still other examples, the payment receiver may specify
that electronic payment processing system 18 shall convert the
securities to cash upon further user input (e.g., upon further
request) provided by the payment receiver.
[0144] User interface 1200 may include dropdown menu 1204. Dropdown
menu 1204 may include one or more sweep options, such as
represented by user interface element 1208. For example, the
payment receiver may provide a user input to indicate that
electronic payment processing system 18 shall sweep cash generated
from a conversion of securities into an account of the payment
receiver. As shown in FIG. 12, the payment receiver specifies that
electronic payment processing system 18 shall sweep such cash into
a specified account of the payment receiver's on a daily basis, as
indicated by selected checkbox 1208. In other examples, the payment
receiver may specify that electronic payment processing system 18
shall sweep the cash on a monthly, quarterly, or other user-defined
interval. In still other examples, the payment receiver may specify
that electronic payment processing system 18 shall sweep the cash
upon further user input (e.g., upon further request) provided by
the payment receiver. Thus, in one example, a computing device may
output for display, one or more user interface elements to receive
information that indicates a condition that when satisfied causes
the electronic payment processing system transfer cash from a first
account to a second account. The computing device may receive a
user input that specifies the condition that when satisfied causes
the electronic payment processing system to transfer the cash from
the first account to the second account. The computing device may
generate one or more messages that include the information
indicating the securities and specifying the condition. The
computing device may send to the electronic payment processing
system, the one or more messages.
[0145] User interface 1200 may also include dropdown menu 1210.
Dropdown menu 1210 allows the payment receiver to specify the
banking information for the account into which the cash from a
conversion may be deposited, or the account into which the cash may
be swept into. As shown in FIG. 12, the payment receiver may select
a configured financial institution into which the cash will be
transferred, as indicated by user interface element 1212. In other
examples, user interface 1200 may allow the payment receiver to
provide user input that includes alphanumeric values that specify
the payment receiver (e.g., text). User interface 1200 may also
display a user interface element 1214 that specifies an account
number of the account associated with the financial institution
into which the cash shall be deposited. In some examples, the
payment receiver may select an account from a group of
pre-configured accounts associated with the payment receiver and
managed by the financial institution specified in user interface
element 1212. In other examples, user interface element 1214 may be
one or more input fields in which the payment receiver may provide
user input that includes alphanumeric values that specify the
account information (e.g., text). In some examples, user interface
1200 may include a user interface element button 1216. Upon
receiving user input to select user interface element button 1216,
the computing device of the payment receiver may send one or more
messages indicating the information of user interface 1200 as
provided by the user inputs to electronic payment processing system
18.
[0146] In one example, a computing device may output for display, a
user interface that includes one or more user interface elements to
receive information that indicates one or more securities received
as a donation. The computing device may receive a user input that
specifies a conversion of at least a portion of the one or more
securities received as the donation to cash. The computing device
may generate one or more messages that include the information
indicating the one or more securities and specifying the conversion
of at least the portion of the one or more securities received as
the donation to cash. The computing device may send to an
electronic payment processing system, the one or more messages.
[0147] In some examples, an electronic payment processing system
may send one or more notifications to a computing device to notify
the user of the computing device that securities have been
converted to cash. A computing device may receive from the
electronic payment processing system, a message that including
information that indicates the conversion of at least the portion
of the one or more securities received as the donation to cash has
completed and outputting a notification based at least in on the
information included in the message.
[0148] FIG. 13 is a conceptual diagram illustrating a user
interface for a payment receiver to manage cash received as payment
from the conversion of securities in accordance with the current
disclosure. User interface 1300 enables a payment receiver (e.g.,
provider 22 in FIG. 2) that receives cash from a sale of securities
provided as payment by a payment sender to take various
actions.
[0149] User interface 1300 may include dropdown menu 1302. Dropdown
menu 1302 may include one or more sweep options, such as
represented by user interface element 1300. For example, the
payment receiver may provide a user input to indicate that
electronic payment processing system 18 shall sweep cash that was
converted from securities provided as payment into an account of
the payment receiver. As shown in FIG. 13, the payment receiver
specifies that electronic payment processing system 18 shall sweep
such cash into a specified account of the payment receiver's on a
daily basis, as indicated by selected checkbox 1304. In other
examples, the payment receiver may specify that electronic payment
processing system 18 shall sweep the cash on a monthly, quarterly,
or other user-defined interval. In still other examples, the
payment receiver may specify that electronic payment processing
system 18 shall sweep the cash upon further user input (e.g., upon
further request) provided by the payment receiver.
[0150] User interface 1300 may also include dropdown menu 1306.
Dropdown menu 1306 allows the payment receiver to specify the
banking information for the account into which the cash from a
conversion of securities provided for payment may be deposited, or
the account into which the cash may be swept into. As shown in FIG.
13, the payment receiver may select a configured financial
institution into which the cash will be transferred, as indicated
by user interface element 1308. In other examples, user interface
1300 may allow the payment receiver to provide user input that
includes alphanumeric values that specify the payment receiver
(e.g., text). User interface 1300 may also display a user interface
element 1310 that specifies an account number of the account
associated with the financial institution into which the cash shall
be deposited. In some examples, the payment receiver may select an
account from a group of pre-configured accounts associated with the
payment receiver and managed by the financial institution specified
in user interface element 1308. In other examples, user interface
element 1310 may be one or more input fields in which the payment
receiver may provide user input that includes alphanumeric values
that specify the account information (e.g., text). In some
examples, user interface 1300 may include a user interface element
button 1312. Upon receiving user input to select user interface
element button 1312, the computing device of the payment receiver
may send one or more messages indicating the information of user
interface 1300 as provided by the user inputs to electronic payment
processing system 18.
[0151] FIG. 14 is a flow diagram illustrating example operations of
a computing device to provide user interface that allows a user
make a donation using securities or make a cash payment resulting
from a sale of securities, in accordance with one or more aspects
of the present disclosure. For purposes of illustration only, the
example operations are described below within the context of
computing device 54, as shown in FIG. 2. As shown in FIG. 14,
computing device 54 may initially output a user interface (1400).
The user interface that includes one or more user interface
elements to receive information that indicate one or more
securities. The user interface may also include user elements to
receive information that indicate at least one of: a transfer of
the one or more securities as a donation, and a cash payment to a
provider of goods or services based on a sale of the one or more
securities.
[0152] Computing device 54 may receive information that indicates
the one or more securities (1402). For instance the information may
include stock ticker symbols or other suitable identifiers of
securities. Computing device 54 may receive information that
indicates the at least one of the transfer and the cash payment
(1404). That is, the information may indicate that the transaction
to perform at electronic payment processing system 18 is a transfer
of securities as a donation or a cash payment based on the
automatic sale of securities.
[0153] Based on the information received from the user in the form
of user inputs for the various user interface elements, computing
device 54 may generate one or more messages that include the
information indicating the one or more securities and the at least
one of the transfer and the cash payment (1406). Computing device
54 may then send the one or more messages to electronic payment
processing system 18 (1408). Electronic payment processing 18 may
receive the one or more messages and, based on the information of
the one or more messages, perform a donation of securities or
perform a payment of cash resulting from a sale of the securities
indicated in the one or more messages, as described in this
disclosure.
[0154] FIG. 15 is a flow diagram illustrating example operations of
a computing device to provide user interface that allows a payment
receiver to manage a donation using securities or a cash payment
resulting from a sale of securities, in accordance with one or more
aspects of the present disclosure. For purposes of illustration
only, the example operations are described below within the context
of computing device 52, as shown in FIG. 2. As shown in FIG. 15,
computing device 52 may initially output a user interface (1500).
The user interface that includes one or more user interface
elements to receive information that indicates one or more
securities received as a donation or cash from a conversion of
donated securities. The user interface may also include user
interface elements to receive information that specifies a
conversion of at least a portion of the one or more securities
received as the donation to cash. The user interface may also
include user interface elements to receive other information
corresponding to the conversion of the one or more securities.
[0155] Computing device 52 may receive information indicating the
one or more securities (1502). For instance the information may
include stock ticker symbols or other suitable identifiers of
securities. Computing device 52 may receive information that
indicates the at least one of the transfer and the cash payment
(1504). Example information may include, the destination account
for cash resulting from the sale of securities and any other
suitable information for performing the conversion.
[0156] Based on the information received from the user in the form
of user inputs for the various user interface elements, computing
device 52 may generate one or more messages that include the
information indicating the one or more securities and specifying
the conversion of at least the portion of the one or more
securities received as the donation to cash (1506). Computing
device 52 may then send the one or more messages to electronic
payment processing system 18 (1508). Electronic payment processing
18 may receive the one or more messages and, based on the
information of the one or more messages, perform a conversion of
the securities to cash, as described in this disclosure.
[0157] As illustrated in the examples of FIGS. 12-13 and 15, a
computing device 52 may output a user interface that allows a
payment receiver to elect whether to automatically convert the
donated securities to cash in response to one or more conditions
(e.g., on request, daily, monthly, etc.) or to hold the securities
in the payment receiver's securities account without automatically
converting the securities to cash. For instance, computing device
52 may receive information from a payment receive to aggregate
transactions on a daily, monthly, or other time interval, and
computing device 52 may send such information to electronic payment
processing system 18. Electronic payment processing system 18 may
perform such aggregated transactions in accordance with the
information indicated in the information received from computing
device 52. In the examples of automatically converting securities
to cash, computing device 52 may send information to electronic
payment processing system 18 that causes system 18 to automatically
convert the securities to cash. Electronic payment processing
system 18 may hold the cash in an account on electronic payment
processing system 18 in some examples. In other examples,
electronic payment processing system 18 may transfer the cash to an
external accounting using a transfer server, such as the Automated
Clearing House (ACH) transfer system or a wire transfer system.
[0158] In some examples, computing device 52 may provide a user
interface to receive user input that causes electronic payment
processing system 18 to issue acknowledgement letters. Computing
device 52 may send information to electronic payment processing
system 18 that corresponds to the user input. Electronic payment
processing system 18 may send the acknowledge letters in electronic
form (e.g., email, markup language document, text message, etc.) or
automatically by postal mail. Acknowledgement letters may indicate
the purpose, amount, securities, donee (e.g., charity, payment
receiver, etc.), donor, and any other suitable information that may
be used for tax reporting purposes. Computing device 52 may send
information corresponding to the user input to electronic payment
processing system 18, which upon receiving the information may be
configured to issue acknowledgement letters to the donor upon
processing a donation.
[0159] In some examples, computing device 52 may provide a user
interface to receive information that causes electronic payment
processing system 18 to hold cash received as a cash payment
resulting from a sale of securities in an account on electronic
payment processing system 18. In other examples, electronic payment
processing system 18 may transfer the cash received as a cash
payment resulting from a sale of securities to an external
accounting using a transfer server, such as the Automated Clearing
House (ACH) transfer system or a wire transfer system. Computing
device 52 may provide a user interface to receive information from
a payment receiver to aggregate transactions on a daily, monthly,
or other time interval, and computing device 52 may send such
information to electronic payment processing system 18. Electronic
payment processing system 18 may perform such aggregated
transactions in accordance with the information indicated in the
information received from computing device 52.
[0160] In some examples, computing devices 52 and/or 54 may
respective generate user interfaces for display that historical
information about past transactions. For instance, the user
interfaces may output individual transaction details or groups of
transactions in an aggregated manner. In some examples, the
information for a transaction may include the price at the time the
donation of securities was initiated and/or the price at the time
the securities were actually sold in exchange for cash. A
transaction, generally, may be a transfer of securities as a
donation or a cash payment based on the proceeds of a sale of
securities. In some examples, data for the past transactions may be
visualized in graphs, charts, etc. Although various examples of
displaying historical information about past transactions have been
discussed herein, any other suitable visualizations and displays of
information may be used by computing devices 52, 54 and/or
electronic payment processing system 18 to display such
information.
[0161] FIG. 16 is a flowchart illustrating example operations of an
electronic payment processing system that transfers securities as a
donation from a sender (e.g., a donor) to a receiver (e.g., a
charity), in accordance with the current disclosure. Example
operations in accordance with techniques of the disclosure are
illustrated for example purposes with respect to computing device
54 of user 12 (e.g., sender), electronic payment processing system
18, and a user of computing device 52 (e.g., receiver) as
illustrated in FIG. 2.
[0162] As shown in the example of FIG. 16, the sender device (e.g.,
computing device 54) may initially output for display a user
interface that enables the sender to provide one or more user
inputs to specify a donation of securities (1600). For instance,
the sender may provide user input at the sender device to indicate
a brokerage firm, account that includes the securities, identifier
of one or more securities to donate, one or more quantities of
securities to donate, the receiver of the securities (e.g., donee,
charity, etc.), and an indication that the transfer is a donation
of securities. The sender device may receive the one or more user
inputs (1602), and send a message with information corresponding to
the user inputs to the payment processing system (1604).
[0163] The payment processing system may receive the message and
determine that the message indicates the transfer of securities is
for a donation (1606). Because the payment processing system has
determined that the transfer is a donation, the payment processing
system retitles the donated securities to the receiver as described
in FIG. 2 (1608). Upon retitling the donated securities from the
sender to the receiver, the payment processing system may send
notifications to the sender device and/or the receiver device
(1610). As shown in FIG. 16, the sender device may receive the
notification (1612), and in some examples may output the
notification. Similarly, the receiver device may receive the
notification (1614), and in some examples may output the
notification. In some examples, the notification may include
information that indicates one or more of whether the transfer of
securities as a donation was successful, the value of the
securities at the time the transfer was initiated, and the value of
the securities at the time the transfer was completed. Thus, in
some examples, a computing device may receive from the electronic
payment processing system, a message comprising information that
indicates: the transfer of the one or more securities as the
donation has completed, and the cash payment to the provider of
goods or services based on the sale of the one or more securities
has completed. The computing device may output a notification based
at least in on the information included in the message.
[0164] In the example of FIG. 16, the receiver may wish to convert
the donated securities to cash. In some examples, the computing
device of the receiver may output a user interface that allows the
receiver to provide user inputs to convert the donated securities
to cash (1616). The receiver may interact with the user interface
to specify the information used to convert the securities to cash.
For instance, the receiver may specify the securities from one or
more accounts of the receiver. The receiver may also provide user
input to indicate the quantity and/or value of the securities to be
converted to cash. The receiver may also provide user input to
indicate an account of the receiver that will be deposited with the
cash proceeds from the sale of the securities. In this way, the
computing device of the receiver may receive input to convert the
donated securities to cash (1618). Although example types of user
input have been described, the receiver may specify any other
suitable information required and/or optionally requested by the
user interface to facilitate the transfer. The computing device of
the receiver may then send one or more messages with the
information specified by the user as user input to convert the
donated securities to cash.
[0165] The payment processing system may receive the one or more
messages from the computing device of the receiver. Responsive to
receiving the one or more messages, the electronic payment
processing may convert the donated securities to cash as described
in this disclosure (1622). For instance, the payment processing
system may determine that the one or more messages indicate the
conversion of donated securities to cash. The payment processing
system may therefore automatically sell the securities and deposit
the cash proceeds into the account of the receiver as specified by
the one or more messages received from the computing device of the
receiver. Upon completing the conversion of donated securities to
cash, the payment processing system may send a notification to the
computing device of the receiver (1624). As shown in FIG. 16, the
receiver device may receive the notification (1626), and in some
examples may output the notification. In some examples, the
notification may include information that indicates one or more of
whether the conversion of donated securities to cash was
successful, the value of the securities at the time the conversion
was initiated, and the value of the securities at the time the
conversion was completed.
[0166] In one example, system for donating securities may include a
donor computing device of a donor (e.g., a sender); a donee
computing device of a donee (e.g., a receiver); and an electronic
payment processing system. The donor computing device may output
for display, a first user interface that includes one or more user
interface elements to receive information that indicates one or
more securities of the donor and specifies a transfer of the one or
more securities as a donation. Responsive to receiving one or more
user inputs that indicate the information for the one or more user
interface elements, the donor computing device may send one or more
messages to the electronic payment processing system that includes
the information indicating the one or more securities and
specifying the transfer of the one or more securities as the
donation. Responsive to receiving the one or more messages, the
electronic payment processing system may automatically retitle the
one or more securities of the donor to the donee. The donee
computing device may output for display, a second user interface
that includes one or more user interface elements to receive
information that indicates the one or more securities received as
the donation. The donee computing device may receive a user input
that defines a conversion of at least a portion of the one or more
securities received as the donation to cash. Responsive to
receiving the user input, the donee computing device may send one
or more messages to the electronic payment processing system that
include the information indicating the one or more securities and
the conversion of at least the portion of the one or more
securities received as the donation to cash. Responsive to
receiving the one or more messages, the electronic payment
processing system may automatically convert the one or more
securities to cash.
[0167] In one example, a system for provisioning a cash payment
using securities may include a payment sender computing device of a
payment sender. The system may include a payment receiver computing
device of a payment receiver and an electronic payment processing
system. The payment sender computing device may output for display,
a first user interface that includes one or more user interface
elements to receive information that indicates one or more
securities of the payment sender and specifies a cash payment to
the payment receiver based on a sale of the one or more securities.
Responsive to receiving one or more user inputs that indicate the
information for the one or more user interface elements, the
payment sender computing device may send one or more messages to
the electronic payment processing system that include the
information indicating the one or more securities and the cash
payment to the payment receiver based on from the sale of the one
or more securities. Responsive to receiving the one or more
messages, the electronic payment processing system may
automatically converts the one or more securities of the payment
sender to cash and deposits the cash in an account of the payment
receiver. The payment receiver computing device may output for
display, a second user interface that includes information
indicating the cash in the account of the payment receiver
resulting from the sale of the one or more securities.
[0168] Although this disclosure has provided one or more examples
relating to stock or other particular types of securities, the
techniques may also apply generally any market securities,
including bonds, REITs (real estate investment trust), ETF
(exchange-traded fund), mutual fund, etc. In various examples, a
computer itself may be a traditional personal computer, a
rack-mount or business computer or server as shown or any other
type of computerized system. The computer in a further example may
include fewer than or more than all elements listed above, such as
a thin client or mobile device or tablet computer having only some
of the shown elements. In another example, the computer is
distributed among multiple computer systems, such as a distributed
server that has many computers working together to provide various
functions.
[0169] The techniques described herein may be implemented in
hardware, software, firmware, or any combination thereof. Various
features described as modules, units or components may be
implemented together in an integrated logic device or separately as
discrete but interoperable logic devices or other hardware devices.
In some cases, various features of electronic circuitry may be
implemented as one or more integrated circuit devices, such as an
integrated circuit chip or chipset.
[0170] If implemented in hardware, this disclosure may be directed
to an apparatus such as a processor or an integrated circuit
device, such as an integrated circuit chip or chipset.
Alternatively or additionally, if implemented in software or
firmware, the techniques may be realized at least in part by a
computer readable data storage medium comprising instructions that,
when executed, cause one or more processors to perform one or more
of the methods described above. For example, the computer-readable
data storage medium may store such instructions for execution by a
processor. Any combination of one or more computer-readable
medium(s) may be utilized.
[0171] A computer-readable medium may form part of a computer
program product, which may include packaging materials. A
computer-readable medium may comprise a computer data storage
medium such as random access memory (RAM), read-only memory (ROM),
non-volatile random access memory (NVRAM), electrically erasable
programmable read-only memory (EEPROM), flash memory, magnetic or
optical data storage media, and the like. In general, a
computer-readable storage medium may be any tangible medium that
can contain or store a program for use by or in connection with an
instruction execution system, apparatus, or device. Additional
examples of computer readable medium include computer-readable
storage devices, computer-readable memory, and tangible
computer-readable medium. In some examples, an article of
manufacture may comprise one or more computer-readable storage
media.
[0172] In some examples, the computer-readable storage media may
comprise non-transitory media. The term "non-transitory" may
indicate that the storage medium is not embodied in a carrier wave
or a propagated signal. In certain examples, a non-transitory
storage medium may store data that can, over time, change (e.g., in
RAM or cache).
[0173] The code or instructions may be software and/or firmware
executed by processing circuitry including one or more processors,
such as one or more digital signal processors (DSPs), general
purpose microprocessors, application-specific integrated circuits
(ASICs), field-programmable gate arrays (FPGAs), or other
equivalent integrated or discrete logic circuitry. Accordingly, the
term "processor," as used herein may refer to any of the foregoing
structure or any other processing circuitry suitable for
implementation of the techniques described herein. In addition, in
some aspects, functionality described in this disclosure may be
provided within software modules or hardware modules.
[0174] Various embodiments have been described. These and other
embodiments are within the scope of the following examples.
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