Transactional processing system
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United States of America Patent
Stats
-
Dec 12, 1995
Issued Date -
N/A
app pub date -
Feb 2, 1994
filing date -
Oct 1, 1990
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A transactional processing system is used in conjunction with a transmitting source. The system allows for real-time authorization of payments for a plurality of products and services made available by the transmitting source. A video menu is sent to a receiver representing a list of the available products and services. The receiver contains a credit or debit card reader and transmits financial account information, as well as the selection from the menu, via a modem to a payment processor. The payment processor verifies the programming selection and account information and transmits an authorization signal to the vendor or service provider. The payment processor would verify financial account information and forward payment authorization to a financial institution. The vendor, in turn sends the selected product to the consumer upon receiving payment from the financial institution.
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