WO2017072783A1

WO2017072783A1 - System and method for electronic payment transactions via social media based messaging using non-text triggers

Info

Publication number: WO2017072783A1
Application number: PCT/IN2016/000252
Authority: WO
Inventors: Somnath BISWAS; Manamohan PANDA
Original assignee: Biswas Somnath; Panda Manamohan
Priority date: 2015-10-27
Filing date: 2016-10-20
Publication date: 2017-05-04

Abstract

The present invention provides a system 100 and a method for electronic payment transactions via social media based messaging using non-text triggers. The system 100 and the method provide the users with the ability to initiate and send payments to one more recipients via social media based messages. The system 100 includes network devices 101, 103 configured with social media client modules 1 02, 104; and a social media message based payment system 106 communicating over a network 105. The social media client module 102, 104 is capable of initiating a payment service initiation instruction within the social media message. The social media message based payment system 106 detects the payment details in the message, analyzes, scrutinizes and communicates them to payment processor 112 for transfer of funds therebetween the electronic payment accounts associated with the corresponding sender and recipient social media accounts 116, 117.

Description

SYSTEM AND METHOD FOR ELECTRONIC PAYMENT TRANSACTIONS VIA SOCIAL MEDIA BASED MESSAGING USING NON-TEXT TRIGGERS

Cross references to related applications: This application claims priority from Provisional applications for patent bearing Application no. 3279/MUM/2015 dated 27^th October 2015 and Application no. 4040/MUM/2015 dated 27^th October 201 5, the contents of which are incorporated herein in their entirety by reference.

FIELD OF INVENTION The present disclosure relates to systems and methods for conducting electronic, enterprise consumer to enterprise and vice-a-versa, payments. More particularly, the present disclosure provides systems and methods for initiating and completing electronic payments by social media based messaging, using Non-Text Based Triggers. ₍

BACKGROUND OF THE INVENTION

People are increasingly using electronic payment methods to make payments & purchase goods and/or services, and also pay other individuals, as opposed to other conventional non-electronic modes like cash or cheque based payments. For example, a person may send an electronic payment to an enterprise to purchase products or services or top up for a service. Services exist that allow a user to set up a payment account on a central server and access that account via a web browser or other application. The user may access their payment account, designate a recipient, and have the funds transferred to the recipient's payment account electronically. Social Media platform based messaging are ubiquitous communication tools and is commonly used to interact amongst individuals and are also being increasingly used for interaction with enterprises, though in the latter case most of the interactions are either queries or complaints and the existing social media platforms systems do not allow a user to initiate and send a payment from web browser based or mobile or computer application based client interfaces and backend platforms. This can be done using both Text & Non-Text based triggers, however Non-Text based triggers are simpler without the need to remember the Text based trigger statements.

Accordingly, there exists a need to provide a method and a system to make payments and purchase goods and/or services, which overcomes abovementioned drawbacks.

OBJECTS OF THE INVENTION

The primary object of present invention is to use social media platform for executing secure payment transactions electronically.

Another object of present invention is to use non-text object based triggers for initiating a payment transaction request electronically using social media platform based messaging. SUMMARY OF THE INVENTION

The present invention, in one aspect, provides a system for electronic payment transactions via social media based messaging using non-text triggers. The system includes at least two network devices, and a social media message based payment system configured to communicate with one another via one or more networks. Each network device includes a communication module capable of transmitting and receiving data, and a social media client module for interacting with any one of web servers and computing devices connected to the network. The social media client module is capable of initiating a payment service initiation instruction within the social media message. The social media message based payment system is configured with a communication module for transmitting and receiving data and includes a payment service module, a transaction manager module, a sender accounts module, a receiver accounts module, a social media computer system and a payment processor computer system. The payment service module manages the payment service object, which is updated with the transaction status throughout the payment process. The transaction manager module monitors the social media messages for payment instructions, and parses the same for arriving at the instruction details and the payment details. The social media computer system delivers social media messages between sender social media accounts and recipient social media accounts. The payment processor computer system hosts sender electronic payment accounts and recipient electronic payment accounts and transfers funds therebetween said electronic payment accounts.

In another aspect, the present invention provides a method for electronic payment transactions via social media based messaging using non-text triggers. The method includes sending a new social media message with payment instruction and payment details by a sender through a social media client module to a recipient social media account. The payment instruction is particularly, a non-text object based instruction, including but not limited to images, stickers and audio instructions that are sent along with the payment details, by the sender to the recipient via the social media platform. The method further includes receiving the social media message at the social media account of a receiver which is monitored by a social media message based payment system, detecting the payment instruction of the social media message by the social media message based payment system and transaction manager module, parsing the payment instruction and the payment details of the social media message by the transaction manager module to check if the payment instruction meets a pre-determined threshold criteria, passing the payment details by the social media message based payment system to payment processor computer system for initiating the payment if the threshold criteria is met, and checking by the payment processor computer system if the sender payment account has sufficient funds to allow for the payment indicated by the sender in the payment instruction. If the pre-determined threshold criteria is not met, the social media message based payment system informs the sender of the status of the request, by including it in a social media message and sending it on behalf of receiver social media account to the sender social media account requesting the sender to resend the social media message with revised payment instruction. Furthermore, if sufficient funds are not available in the sender payment account to complete the transaction, the social media message based payment system sends a social media message back to the sender requesting the sender to add more funds or to change payment option and reinitiate payment instruction.

If sufficient funds are available, then the method further includes checking by the social media message based payment system if a security challenge is required for the sender to authenticate the transaction and prompting the sender at the social media account by the social media message based system via the sender social media client to respond to the security challenge if a security challenge is required. Thereinafter, the method includes, updating the payment service object in the payment service module with the current status while the payment processor computer system continues to process the payment transaction. In an event, that the security challenge is not successfully responded to by the sender, then the social media message based payment system sends a social media message back to the sender social media account informing the sender that the security challenge was not successfully met, and so the transaction would need to be terminated and optionally also requesting the sender to resend the social media message and reinitiate the payment instruction.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram depicting a system for making electronic payments via social media based messaging using non-text based triggers, in accordance with certain example embodiments;

FIG. 2 is a block flow diagram depicting a method to manage social media messages with payment service object, payment processor and also updating the status by the computer program product system, in accordance with certain example embodiments; FIG. 3 is a block flow diagram depicting the processing of the payment service instruction by the computer program product system, in accordance with certain example embodiments; FIG. 4 is a block flow diagram depicting a method for payment process initiation and obtaining the payment transaction status, in accordance with certain example embodiments;

FIG. 5 is a block flow diagram depicting a method by which the computer program product recognizes the initiation of payment service and updates the payment service object accordingly, in accordance with certain example embodiments;

FIG. 6 is a block flow diagram depicting a method for processing a payment service object using a payment processor, in accordance with certain example embodiments; and

FIG. 7 is an illustration of one representation of social media message 1 18 DETAILED DESCRIPTION OF THE INVENTION

Embodiments herein provide computer-implemented techniques for sending and receiving electronic payments by social media messaging. The embodiments described herein describe the method which allows a sender to generate and insert a payment instruction directly in the body of a social media message while composing the message. The payment instruction includes a payment request with payment amount details. The payment instruction would comprise of a non-text object based instructions including, but not limiting to, images and audio, associated with the service in question and the details of the request or query, as the case maybe. The sender's social media account is directly or indirectly linked to a corresponding electronic payment account. Likewise, the recipient's social media account may be directly or indirectly linked to an electronic payment account. If the recipient social media account is not associated with an electronic payment account, the social media message based payment system may prompt the recipient to register for an electronic payment account. An electronic payment account may be linked to a social media account by use of the social media account identifier of the social media account as an account identifier for the electronic payment account. This can be done directly or indirectly by mapping the social media account identifier to an account identifier on the social media payment system, which then is mapped to the electronic payment account of the sender or the recipient respectively. The electronic payment account is hosted on a payment processor system that is part of, or is in communication with, the social media payment system. The electronic payment account may have multiple payment instruments, such as multiple credit cards or a bank account, stored in the electronic payment account from which a sender can select to make a payment at the time of the registration with the social media payment system. The system then on receiving the payment service instruction in the recipient's social media account updates the payment service object and sends the payment from the sender's electronic payment account to a recipient's electronic payment account. Users may access the social media message in the relevant social media client on any remote user device supporting the social media client, including, but not limited to, personal computers, mobile phones, and tablet computers. One or more application program interfaces (APIs) facilitate communication between the social media message based payment system, the social media servers, and the payment processor to complete the delivery of the social media message and transfer of funds between the sender's electronic payment account and the recipient's electronic payment account.

To initiate a payment request or payment, a sender composes a social media message to a recipient and indicates intent to pay the recipient. The intent can be indicated by inclusion of the payment service initiation instruction within the social media message. The payment service initiation instruction would comprise of a non-text object based instruction. The social media message based payment system may analyze the message for such non-text object based payment triggers including but not limited to images and an audio command and like, in the body of the social media message. The additional information besides the non-text trigger, around the specifics of the payment service initiation request, could be in the form of text or also non-text based including but not limited to images, audio and the like. For example, the payment instruction to pay a bill of $10, in the form t instruction could look like, but not

ere

object for payment, and "$ 10" is the specific amount that needs to be paid in. The social media message based payment system may maintain a library of such payment service initiation request trigger objects, mapping them to specific service or information requests. Further, the additional information besides the trigger could be in form of a non-text object in the form of a sticker associated with a specific amount encrypted and embedded therein, and may be used in initiating the payment request for the amount specified thereon. The social media message based payment system may analyze the message for such non-text object based payment signals or triggers, in the body of the social media message.

Upon detection of one or more payment signals or payment triggers or another user indication of intent to make a payment, the social media message based payment system obtains the payment details from the message. Payment details can include, but are not limited to, a recipient, and a payment amount. The social media message based payment system may first verify that sufficient funds are available before proceeding with the electronic payment. In certain example embodiments, if sufficient funds are not available, the social media based payment system will present a "modify payment account" or equivalent notification via social media message to the sender, prompting the sender to modify the electronic payment account, for example, by selecting an alternative payment instrument or by transferring additional funds to the electronic payment account. In addition, the social media message based payment system may conduct a risk assessment and, if a potential security issue is identified, present a security authorization challenge to the sender before finalizing the payment service object status.

Once the payment details have been confirmed by the sender, a payment service object is generated by the social media message based payment system and updated with the status. Once the recipient social media account receives the message with the payment service initiation instruction, the social media message based payment system verifies that the recipient is not forbidden from receiving the payment. For example, if certain external regulations prevent payment transactions to certain geographical regions, the social media message based payment system will verify that the recipient does not have a corresponding electronic payment account outside the allowed geographic transaction region or if the reci pient is not registered on the social media message based payment system. If the recipient is not restricted from receiving a social media message based payment, the social media message based payment system communicates payment details parsed from the payment instruction, and used to update the payment service object to a payment processor. In certain example embodiments, the social media message based payment system ensures synchronous delivery of the payment to the recipient's payment account and the message from the recipient's social media based account to the sender's social media account indicating the status. In some cases the notification could be sent by social media message based payment system to both the sender and the recipient social media accounts. In the case of the recipient being an enterprise the transaction status is recorded in the enterprise billing or other relevant system. Aspects of embodiments will be explained in more detail in the following description, read in conjunction with the figures illustrating the program flow.

Example System Architectures Turning now to the drawings, in which like numerals represent like (but not necessarily identical) elements throughout the figures, example embodiments are described in detai l.

FIG. 1 is a block diagram depicting a system 100 for electronic payment transactions via social media based messaging using non-text triggers. As depicted in FIG. 1 , the system 100 includes network devices 101 and 103, and Social Media Message Based Payment System 106 that are configured to communicate with one another via one or more networks 105.

Each network 105 includes a wired or wireless telecommunication means, including but not limited to all forms of cel lular or mobile communication technologies like Bluetooth, NFC and the like by which network devices (including devices 101 , 103, and 106) can exchange data, which in turn refers to text, images, audio, video, or any other form of information that can exist in a computer based environment.

Each network device 101, 103, and 106 includes a device having a communication module capable of transmitting and receiving data over the network 105. For example, each network device 1 01 , 1 03 and 106 can include a server, desktop computer, laptop computer, tablet computer, a television with one or more processors embedded therein and/or coupled thereto, smart phone, handheld computer, personal digital assistant ("PDA"), or any other wired or wireless, processor-driven device. In the example embodiment depicted in FIG. 1 , the network devices 101 and 103 are operated by end-users referred to herein as senders and recipients, and network device 106 is operated by social media message based payment system operators.

The sender device 101 and recipient device 1 03 are operated by senders and recipients respectively. The sender device 1 01 and recipient device 103 each include a social media client module 102 and 104 respectively. The social media client modules 1 02 and 104 on the sender device 101 and the recipient device 103 can interact with web servers or other computing devices connected to the network 105, including the social media computer system 1 15 and the payment processor computer system 1 12 of the social media message based payment system 1 06. The social media client module 102 and 104 may be a web-based social media client module accessible by a browser application or another suitable application for interacting with web page files maintained by the social media computer system 1 15. The social media client module 102 and 104 may also comprise a social media software application residing and executing on the sender 101 and the recipient 103 devices.

The social media message based payment system 106 is operated by a social media message based payment system operator. In certain example embodiments, the social media message based payment system 1 06 comprises a Payment Service Module 108, a Transaction Manager module 109, a Sender Accounts module 1 1 0, a Receiver Accounts Module 1 1 1 , a Social Media Computer System 1 1 5 and a Payment Processor Computer System 1 12. The Payment Processor Computer System 1 12 hosts sender electronic payment accounts 1 1 3 and recipient electronic payment accounts 1 14 and transfers funds therebetween said electronic payment accounts. In certain example embodiments, the sender electronic payment accounts 1 13 and the recipient electronic payment accounts 1 14 are electronic wallet accounts. The sender electronic payment accounts 1 1 3 and the recipient electronic payment accounts 1 14 may have funds associated directly with the electronic payment account. Alternatively the sender electronic payment accounts 1 13 and the recipient electronic payment accounts 1 14 may have other payment instruments, such as credit cards, linked to the sender electronic payment account 1 1 3 or recipient electronic payment account 1 14. In certain example embodiments, the payment processor computer system 1 12 may be part of a third party payment processor computer system in communication with the social media message based payment system 106. As described below, certain functions will be described in the context of the sender electronic payment accounts 1 13 and other functions in the context of the recipient electronic payment accounts 1 14. It is to be understand that the social media message based payment system 106 enables the same functionality within each electronic payment account 1 13 and 1 14 as a sender of a social media message based payment in one instance may be a recipient of a social media message based payment in another and vice versa. The Social Media Computer System 1 15 delivers social media messages between sender social media accounts 1 1 6 and recipient social media accounts 1 17. In certain example embodiments, the social media computer system 1 1 5 may be part of a third party social media computer system in communication with the social media message based payment system 106. The Transaction Manager Module 109 monitors the social media messages for the payment instructions, and also parses the same for arriving at the instruction details and also the payment details. Payment Service Module 108 contains and manages the Payment Service Object, which is updated with the transaction status throughout the payment process. After the social media message is parsed by the social media message based payment system 1 06 and instructions & service requests are found to be in line with the pre-defined business rules, the social media message based payment system 106 makes regular calls to the payment processor computer system 1 12 to obtain a transaction status. The social media message based payment system 106 may then update the payment service object and on completion of the transaction, displays the transaction status in the social media message sent to the Sender.

It will be appreciated that the network connections shown in FIG. 1 are one example and other means of establishing a communications link between the network devices 101 , 103, and 106 can be used. Moreover, those having ordinary skill in the art and having the benefit of the present disclosure will appreciate that the sender device 101 , the recipient device 103, and the social media message based payment system 106 illustrated in FIG. 1 can have any of several other suitable computer system configurations. Example Processes

The components of the example operating environment 100 are described hereinafter with reference to the example methods illustrated in FIGS. 2-6. The methods illustrated in FIG. 2 are described with reference to the components illustrated in FIG. 1. FIG. 2 is a block flow diagram depicting a method 200 to manage social media messages with payment instructions, in accordance with certain example embodiments.

Method 200 begins with block 201 , where a sender sends a new social media message 1 1 8 through the social media client 102 to a social media account 1 17, with the payment instruction 701 and payment details 702 as indicated in Fig 7. In a preferred embodiment, the social media message includes a non-text object based payment instruction 701 , including but not limited to, an image, an audio object and like, along with payment details 702 for the sender to initiate a payment request via social media based messaging. At block 202, the message 1 18 is received at the recipient social media account 1 17 which is monitored by the social media message based payment system 106, and the social media message based payment system 106 & the Transaction Manager Module 109 are able to detect a payment instruction 701 in the message 1 1 8. Block 203 is described in further detail hereinafter with reference to FIG. 3. FIG. 3 is a block flow diagram depicting a method 203 for analyzing a social media message for payment instructions, in accordance with certain example embodiments.

Method 203 begins at block 301 , where the social media message based payment system 106 determines if the payment instruction 701 has been included in the message sent by the Sender. Once the message 1 1 8 is parsed and a payment instruction 701 is detected, and the threshold criteria is met in terms of the format & the instruction details needed, then the social media message based payment system 106 passes the payment details 702 to the Payment Processor Computer System 1 1 2 and updates the Payment Service object in the Payment Service Module 108. Machine learning derived decision functions are able to continuingly learn from user responses and may be used to adjust the decision function around threshold criteria being met, accordingly. In case the payment instructions 701 obtained by parsing the message do not meet the threshold criteria, alluded to above, then the social media message based payment system 106 informs the Sender of the status of the request, by including it in a social media message 1 19 and sending it on behalf of Receiver Social Media account 1 17 to Sender social media account 1 16, as described in block 303.

Returning to FIG. 2 after the Payment Service Object is updated with the status, at block 204, the social media message based payment system 106 passes the payment details 702 to the Payment processor computer system 1 12 and requests payment transaction to be initiated, at block 205. , FIG. 4 is a block flow diagram depicting a method 206 of block 206 for Payment Processor computer system to check for payment transaction status.

Method 206 begins at block 401 , where the social media message based payment system 1 06 passes the payment details 702 to the Payment processor computer system 1 12. At block 402, the Payment Processor Computer System 1 12 checks if the Sender Payment Account 1 13 has sufficient funds to allow for the payment indicated by the Sender in the payment instruction 701.

If sufficient funds are not available in the Sender Payment Account 1 13 to complete the transaction, the social media message based payment system 106, at block 403 sends a social media message back to the Sender Social Media Account 1 16 requesting the Sender to add funds or change payment method and resend the social media message and reinitiate the payment. If sufficient funds are available in the Sender Payment Account 1 13 to complete the transaction then the social media message based payment system 106, based on including but not limited to business rules, deviations for standard user behavior etc., checks if a security challenge is required ( block 404 ) for the Sender to authenticate the transaction. If a security challenge is required, as indicated in block 406, the social media message based payment system 106 prompts the Sender at the social media Account 1 16 via the sender social media client 102 to respond to the security challenge.

If the security challenge is successfully passed (block 407) or a security challenge is not needed to process the transaction then the social media message based payment system 106 updates the Payment Service Object with the current status and the Payment processor computer system 1 12 continues to process the transaction till either of the criteria listed in block 208 are met.

In the event that the security challenge is not successfully responded to by the Sender, then as indicated in block 408 the social media message based payment system 1 06 sends a social media message back to the Sender Social Media Account 1 16 informing the Sender that the security challenge was not successfully met, and so the transaction would need to be term inated and optionally also requesting the Sender to resend the social media message and reinitiate the payment.

FIG. 5 is a block flow diagram depicting a method 302 for parsing a social media message with the payment instruction and assessing if the threshold and any associated business rule thresholds are met, in accordance with certain example embodiments. Method 302 begins at block 501, where the social media message based payment system 106 and its components, including but not limited to the Transaction Manager 109, parse the social media message received 1 1 8 to arrive at the payment transaction and the associated payment details 702 including but not limited to the amount etc. If the parsing of the message is successful, and the payment instruction 701 meets the criteria around format & other constraints (block 502), then the payment amount and the transaction request per say may be, as described in block 503, further checked for business rules compliance, includ ing but not limited to the payment amount, number of transaction in a given duration, transaction type, payment source, recipients is authorized to receive the payment etc. If the payment transaction request meets the threshold criteria, then the Payment Service Object is updated accordingly and the relevant payment details 702 are passed on to the Payment Processor Computer System 1 12 for initiating of the payment transaction. If the payment instruction 701 post assessment is found not to meet the criteria around format & other constraints (block 502) then the social media message based payment system 106 sends a social media message 1 19 to the Sender Social media account 1 16, via the Social Media computer system 1 15, indicating that the payment transaction was not as per the pre-defined criteria and may request for revised payment instruction 701 .

Returning to FIG. 2 at block 207, the Payment Service Object is updated with the transaction status that the Payment Processor Computer System 1 12 received in Block 206.

As indicated in Block 208, till the point the payment service object status is either 'payment accepted' or equivalent, or 'payment declined' or equivalent or 'completed with errors' or equivalent; that is till the time the payment transaction process is not completed either with or without errors, blocks 206, 207 and 208 are repeated.

FIG. 6 is a block flow diagram depicting a method 209 of block 209 for sending a social media message 1 19 to the Sender social media account 1 16 via the social media computer system 1 15, indicating the payment transaction update & any other associated actions. Method 209 begins at block 601 , which checks irrespective of whether the payment was accepted or not, was the payment transaction process completed without errors. If it was completed with some errors, the social media message based payment system 106 cancels the transaction & transfer of funds sub- process, updates the Sender Account & Recipient account 1 10 & 1 1 1 , and as needed the Sender & Recipient payment accounts 1 16 & 1 17 respectively. Additionally the social media message based system 106, sends a social media message 1 19 to the Sender social media account 1 1 7 via the social media computer system 15, indicating the payment transaction was completed with errors and may also share any associated details, and also may advise the Sender to reinitiate the payment.

If payment transaction process was completed without errors, as indicated in block 603 the social media message based payment system 106 checks if the status of the Payment Service Object indicates if the payment per se was successful or otherwise. If the payment was not successful the social media message based system 106 cancels the transaction & transfer of funds sub process, updates the Sender Account & Recipient account 1 10 & 1 1 1 , and as needed the Sender & Recipient payment accounts 1 16 & 1 1 7 respectively. Additionally the social media message based system 1 06, sends a social media message 1 19 to the Sender social media account 1 16 via the social media computer system 1 15, indicating the payment transaction was decl ined and may also share any associated details, and also may advise the Sender to reinitiate the payment.

If the payment was successful the social media message based system 106 completes the transaction & transfer of funds sub process, updates the Sender Account & Recipient account 1 10 & 1 1 1 , and as needed the Sender & Recipient payment accounts 1 16 & 1 1 7 respectively. Additionally the social media message based system 1 06, sends a social media message to the Sender social media account 1 16 via the social media computer system 1 1 5, indicating the payment transaction was successful and may also share any associated details. Returning to FIG. 2 at block 210, the Sender received the social media message described in block 209, sent on the Sender Social Media Account 1 16. In some cases the social media message based payment system 1 06 also sends a social media message, via the Social media computer system 1 1 5 to the Recipient Social media account as well, confirming the completion of the process. Fig 7, as an example indicates what a social media message may be like that contains the payment instruction 701 and other details including, but not limited to, Sender & Receiver details and the payment amount details 702. In a preferred embodiment of present invention, the social media message includes non-text object based payment instructions 701 including, but not limited to, images, audio objects and like, along with the payment details 702.

In alternate embodiments of present invention, the social media message based payment system 106 can download a library of stickers from the recipient. The stickers are encrypted and come in varying face value (such as $20, $50, $ 100 and like) embedded therein. Thereinafter, the sender is to select a sticker having requisite face value, and to drag and drop the requisite sticker into the body of the social media message composed to be sent from the sender social media account 1 16 via the sender social media client module 102 to the recipient social media account 1 1 7, for initiating the requisite payment transaction request for an amount derived from the face value of the sticker. The social media message based payment system 106 may then analyze the non-text object based payment instruction 701 in the message for such non-text object based payment signals or triggers in the body of the social media message and would initiate further processing of the payment transaction request.

In situations in which the systems discussed here collect or make use of personal information, the users may be provided with an opportunity to control whether programs or features collect user information (e.g., information about a user's social network, social actions or activities, a user's preferences, or a user's current location), or to control whether and/or how to receive content from the content server that may be more relevant to the user. In addition, certain data may be treated in one or more ways before it is stored or used, so that personally identifiable information is removed.

Embodiments may comprise a computer program that embodies the functions described and illustrated herein, wherein the computer program is implemented in a computer system that comprises instructions stored in a machine-readable medium and a processor that executes the instructions. However, it should be apparent that there could be many different ways of implementing embodiments in computer programming, and the embodiments should not be construed as limited to any one set of computer program instructions. Further, a skilled programmer would be able to write such a computer program to implement an embodiment of the disclosed embodiments based on the appended flow charts and associated description in the application text. Therefore, disclosure of a particular set of program code instructions is not considered necessary for an adequate understanding of how to make and use embodiments. Further, those skilled in the art will appreciate that one or more aspects of embodiments described herein may be performed by hardware, software, or a combination thereof, as may be embodied in one or more computing systems. Moreover, any reference to an act being performed by a computer should not be construed as being performed by a single computer as more than one computer may perform the act. The example embodiments described herein can be used with computer hardware and software that perform the methods and processing functions described previously. The systems, methods, and procedures described herein can be embodied in a programmable computer, computer-executable software, or digital circuitry. The software can be stored on computer-readable media. Digital circuitry can include integrated circuits, gate arrays, building block logic, field programmable gate arrays (FPGA), etc.

The present invention provides the system 100 and method to provide users with the ability to initiate and send payments to one more recipients via social media based messages. A user interface is provided in a social media client that allows a user to make a payment by using message. Payment details are conveyed in the message in the form of non-text object based payment instructions. The payment details captured in the message are communicated to a payment processor computer system 1 12. The payment processor computer system 1 12 uses electronic payment accounts associated, directly or indirectly with the corresponding sender and recipient social media account identifiers to identify the relevant electronic payment accounts and transfer the payment therebetween said accounts. A status of the payment transaction is tracked and displayed back in the form of a social media message on behalf of the recipient to the sender on the relevant social media platform.

The example systems, methods, and acts described in the embodiments presented previously are illustrative, and, in alternative embodiments, certain acts can be performed in a different order, in parallel with one another, omitted entirely, and/or combined between different example embodiments, and/or certain add itional acts can be performed, without departing from the scope and spirit of various embodiments. Accordingly, such alternative embodiments are included in the inventions described herein.

Although specific embodiments have been described above in detail, the description is merely for purposes of illustration. It should be appreciated, therefore, that many aspects described above are not intended as required or essential elements unless explicitly stated otherwise. Modifications of, and equivalent components or acts corresponding to, the disclosed aspects of the example embodiments, in addition to those described above, can be made by a person of ordinary skill in the art, having the benefit of the present disclosure, without departing from the spirit and scope of embodiments defined in the following claims, the scope of which is to be accorded the broadest interpretation so as to encompass such modifications and equivalent structures.

Claims

WE CLAIM

1. A system 100 for electronic payment transactions via social media based messaging using non-text triggers, the system 100 comprising:

at least two network devices 101 and 103, each network device of the two network devices 101 , 103 linked to a corresponding electronic payment account, each network device having,

• a communication module configured thereon for transmitting and receiving data, and

• a social media client module 102 and 104 configured thereon for interacting with any one of web servers and computing devices, wherein the social media client module 102, 104 is capable of initiating a payment service initiation instruction within the social media message; and a social media message based payment system 106 having a communication module configured thereon for transmitting and receiving data, the social media message based payment system 1 06 having,

• at least one network device 105 configured to allow communication between at least two network devices 101 , 103 and social media message based payment system 106,

• at least one payment service module 108 configured to manage the payment service object, which is updated with the transaction status throughout the payment process,

• at least one sender accounts module 1 1 0 and at least one receiver accounts module 1 1 1 ,

• at least one transaction manager module 109 configured to monitor the social media messages for payment instructions 701 in the form of non-text based triggers, and parsing the same for arriving at the instruction details and the payment details 702,

• at least one social media computer system 1 1 5 configured to deliver social media messages between sender social media accounts 1 16 and recipient social media accounts 1 1 7, • at least one payment processor computer system 1 12 configured to host sender electronic payment accounts 1 13 and recipient electronic payment accounts 1 14 and transfers funds between said electronic payment accounts, wherein after the social media message is parsed by the social media message based payment system 106 and instructions and service requests are found to be in line with the pre-defined business rules, the social media message based payment system 106 makes regular calls to the payment processor computer system 1 12 to obtain a transaction status. 2. The system 100 as claimed in claim 1 , wherein the each network device 101 , 1 03 and the social media message based payment system 106 is anyone of a server, desktop computer, laptop computer, tablet computer, a television with one or more processors embedded therein and/or coupled thereto, smart phone, handheld computer, personal digital assistant ("PDA"), and wired/wireless processor-driven device.

A method for electronic payment transactions via social media based ging using non-text triggers, the method comprising:

• sending by a sender, a new social media message 1 1 8 through a social media client module 102 to a recipient social media account 1 1 7, with a payment instruction 701 and payment details 702;

• receiving the social media message 1 18 at the social media account

1 17 of a receiver which is monitored by a social media message based payment system 106;

• detecting the payment instruction 701 of the social media message

1 1 8 by the social media message based payment system 106 and Transaction Manager Module 109;

• parsing the payment instruction 701 and the payment details 702 of the social media message 1 18 by the transaction manager module 109 to check if the payment instruction 701 meets a threshold criteria; • passing the payment details 702 by the social media message based payment system 106 to payment processor computer system 1 12 for initiating the payment if the threshold criteria is met;

• checking by the payment processor computer system 1 12 if the Sender Payment Account 1 13 has sufficient funds to allow for the payment indicated by the Sender in the payment instruction 701 ;

• checking by the social media message based payment system 106 if a security challenge is required for the sender to authenticate the transaction;

• sending a social media message back to the sender by the social media message based payment system 1 06 if sufficient funds are not available in the sender payment account 1 13 to complete the transaction;

• requesting the social media account 1 16 of the sender to add funds or change payment method and resend the social media message;

• prompting the sender at the social media account 1 16 by the social media message based system 1 06 via the sender social media client 1 02 to respond to the security challenge if a security challenge is required; and

• updating the payment service object with the current status and the payment processor computer system 1 12 continues to process the transaction.

4. The method as claimed in claim 3, wherein the social media message based payment system 106 determ ines if the payment instruction 701 has been included in the message by the Sender.

5. The method as claimed in claim 3, wherein once the social media message 1 1 8 is parsed and the payment instruction 701 is detected, the social media message based payment system 106 passes the payment details 702 to the Payment Processor Computer System 1 12 and updates the Payment Service object in the Payment Service Module 108.

6. The method as claimed in claim 3, wherein when the payment instruction 701 obtained by parsing the message by the transaction manager module 109 do not meet the threshold criteria, the social media message based payment system 106 informs the Sender of the status of the request, by including it in a social media message 1 19 and sending it on behalf of Receiver Social Media account 1 17 to the Sender social media account 1 16 requesting the sender to resend the social media message 1 18 with revised payment instruction 701 .

7. The method as claimed in claim 3, wherein in the event that the security challenge is not successful ly responded to by the Sender, then the social media message based payment system 106 sends a social media message 1 19 back to the Sender Social Media Account 1 16 informing the Sender that the security challenge was not successfu lly met, and so the transaction would need to be terminated and optionally also requesting the Sender to resend the social media message 1 1 8 and reinitiate the payment request.

8. The method as claimed in claim 3, wherein in the event the payment transaction is not successfu l ly completed, then the social media message based payment system 106 sends a social media message 1 1 back to the Sender Social Media Account 1 16 via the social media computer system 1 15 informing the sender that the payment transaction was completed with errors and sharing associated details, and further requesting the sender to resend the social media message 1 1 8 and reinitiate the payment request.

9. The method as claimed in claim 3, wherein in the event the payment transaction is successfully completed and the funds is successfully transferred therebetween the sender payment account 1 16 and the recipient payment account 1 17, then the social media message based payment system 106 sends a social media message 1 19 to the Sender Social Media Account 1 16 via the social media computer system 1 15 informing the sender that the payment transaction was successfully completed and sharing associated detai ls, and thereinafter updating the sender and the recipient accounts 1 1 0, 1 1 1 and the sender and recipient payment accounts 1 16, 1 1 7 thereof.

10. The method as claimed in claim 3, wherein the payment instructions 701 sent via the social media message are non-text object based payment instructions and includes anyone of an image, an audio command and combinations thereof.