Electronic payment system for financial institutions and companies to receive online payments

Abstract From the Canadian patent

The present invention provides an a electronic payment system for bank financial institutions, portals and companies to receive payment from their customers for one or more payees. The electronic payment system allows payer (consumer or business) to use any funding method (bank account credit/debit cards or any other business or personal account or method associated with one or more banks) accepted by the payee to initiate a payment and the payment transaction is routed to the appropriate payment processor based on payee's preferences. The electronic payment system also provides a instant payment delivery notification to the payer directly from the payee. The system also creates a unique …