Four-party credit/debit payment protocol
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United States of America Patent
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Dec 4, 2001
Grant Date -
N/A
app pub date -
Dec 29, 1998
filing date -
Dec 29, 1998
priority date (Note) -
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status (Latency Note)
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Abstract
A method, system, program, and method of doing business are disclosed for electronic commerce that includes the feature of a 'thin' consumer's wallet by providing issuers with an active role in each payment. This is achieved by adding an issuer gateway and moving the credit/debit card authorization function from the merchant to the issuer. This enables an issuer to independently choose alternate authentication mechanisms without changing the acquirer gateway. It also results in a significant reduction in complexity, thereby improving the ease of implementation and overall performance.
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