E-commerce system and method of operation enabling a user to conduct transactions with multiple retailers without certification and/or trusted electronic paths
Number of patents in Portfolio can not be more than 2000
United States of America Patent
Stats
-
Mar 2, 2004
Grant Date -
N/A
app pub date -
Dec 23, 1999
filing date -
Dec 23, 1999
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
An E-commerce system enables a user to conduct transactions with a retailer via a network, typically the Internet without certification or trusted paths. The user is a customer of a financial institution coupled to the network. The institution serves as an intermediary in electronic transactions conducted between end user and retailer. End user and retailer initiate transactions in an Internet session. User selects as one payment option a 'check' or data messages as an intent to pay for the purchases without authentication of one another. Retailer prepares and submits a request for payment directly to the financial institution. After the retailer and financial institution exchange digital certificates, the financial institution records the transactions in the user's account as authorized for payment. The user is provided a list of authorized transactions for approval or rejection. Upon approval by the user, payment is made to the retailer by the institution.
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