Method for multi-directional consumer purchasing, selling, and transaction management
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United States of America Patent
Stats
-
Apr 10, 2001
Grant Date -
N/A
app pub date -
Sep 28, 1998
filing date -
Sep 28, 1998
priority date (Note) -
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status (Latency Note)
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Abstract
An integrated credit card data processing method that allows transactions to be processed either as a payment or as a receipt of payment. The new process is a combination of the regular data processing method for consumer purchases of goods and services similar to those used by credit/charge cards, debit cards, and smart cards and a merchant processing method that allows acceptance of such payments. The second part of the invention is a method to execute an order on the manner of disposition of the proceeds of sale, such as payment by check, application of the excess cash to outstanding debts, investment into a plurality of investment accounts, or retention of the proceeds as a credit to the account. The third part of the invention is a method to provide a report of both purchases and sales itemized together for an account holder.
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