Electronic account settlement system and method
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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N/A
Issued Date -
May 29, 2003
app pub date -
Nov 20, 2002
filing date -
Nov 27, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
An electronic account settlement system includes a preauthorization device provided at a vendor site and having a first receiver to receive first identification information of a user. The preauthorization device is configured to initiate a preauthorization request for a subsequent transaction of a product or service between the user and a vendor of the vendor site. An accounting system is provided at a remote location from the preauthorization device. The accounting system has a database including account information relating to a plurality of users and is configured to receive the preauthorization request and decide whether to grant or reject the preauthorization request using the account information.
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