System and method for rapidly and securely transferring funds electronically between two points
Number of patents in Portfolio can not be more than 2000
United States of America Patent
Stats
-
N/A
Issued Date -
Dec 26, 2002
app pub date -
Aug 26, 2002
filing date -
Aug 4, 1999
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A system and method for rapidly and securely transferring funds electronically between two points comprises a server coupled to a network. The server contains software that receives an initiation funds transfer request from a first terminal via a network; generates a transaction number; stores the transaction number and data associated with the initiation funds transfer request in a memory location of the server; sends the transaction number to the first terminal via the network; receives a completion funds transfer request from a second terminal via the network; confirms that the completion funds transfer request is valid; updates the memory location to indicate that the funds transfer is complete; and sends a confirmation notice, which includes an amount of funds to dispense, to the second terminal via the network.
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