US Patent No: 7,588,181
Number of patents in Portfolio can not be more than 2000
Method and apparatus for verifying the legitamacy of a financial instrument
Stats
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Sep 15, 2009
Issued date -
Sep 7, 2005
filing date -
11/219,713
serial no -
In Force
status
Importance
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Abstract
An apparatus and method for verifying the legitimacy of a financial instrument used by a shopper is disclosed. A seller accepts details about goods and services to be delivered, and information about a financial instrument to be used in a purchase by a shopper. Identifier information is send to a financial institution issuing the instrument. The legitimate user of the instrument must access the instruments issuer's database to obtain the identifier information and derive verification information needed to answer a question posed by the seller. If the shopper can prove possession of the verification information then the goods are shipped or delivered to the shopper and payment is settled. The questions used to prove the shopper has the verification information may come in a variety of forms such as simple math equations, anagrams, or word to symbol matching problems. In each case, the answer may be chosen from a set of displayed results via a computer network thereby eliminating the need for typing by the owner/shopper.
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First Claim
Related Publications
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International Classification(s)
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- [Patents Count]
Cited Art
| Patent Info | (Count) | # Cites | Year |
|---|---|---|---|
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| 5,822,737 Financial transaction system | 210 | 1996 | |
| 5,991,738 Automated credit card processing | 75 | 1997 | |
| 5,963,917 Financial system of computers | 121 | 1998 | |
| 6,381,584 Computers in a financial system | 22 | 2000 | |
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| 6,246,996 Computerized system for facilitating transactions between parties on the internet using e-mail | 161 | 1998 | |
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| 6,341,724 Cardless payment system | 131 | 2001 | |
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| 6,385,504 Mail processing system with unique mailpiece authorization assigned in advance of mailpieces entering carrier service mail processing stream | 54 | 1999 | |
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| 6,192,407 Private, trackable URLs for directed document delivery | 294 | 1997 | |
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| 5,909,492 Network sales system | 312 | 1997 | |
| 6,205,437 Open network payment system for providing for real-time authorization of payment and purchase transactions | 132 | 1998 | |
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| 2003/0126,036 Online payments | 50 | 2002 | |
| 2004/0230,527 Authentication for online money transfers | 44 | 2004 | |
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| 5,311,594 Fraud protection for card transactions | 259 | 1993 | |
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| 5,822,727 Method for automatic speech recognition in telephony | 72 | 1995 | |
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| 5,708,422 Transaction authorization and alert system | 337 | 1995 | |
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| 6,839,692 Method and apparatus to provide secure purchase transactions over a computer network | 46 | 2000 | |
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| 2002/0052,841 Electronic payment system | 76 | 2001 | |
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| 5,809,144 Method and apparatus for purchasing and delivering digital goods over a network | 446 | 1995 | |
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| 6,029,150 Payment and transactions in electronic commerce system | 453 | 1996 | |
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| 2002/0077,978 Method and system for processing internet payments | 233 | 2001 | |
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| 2004/0088,258 Verification of a financial instrument using a random number of transactions | 5 | 2002 | |
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| 5,757,917 Computerized payment system for purchasing goods and services on the internet | 645 | 1995 | |
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| 2001/0056,410 Electronic commerce system and method | 14 | 2000 | |
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| 5,872,917 Authentication using random challenges | 45 | 1997 | |
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| 2002/0084,329 Coded items for labeling objects | 35 | 2001 | |
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| 6,612,488 Method and system to prevent fraudulent payment in credit/debit card transactions, and terminals therefor | 103 | 2001 | |
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| 2001/0044,785 Method and system for private shipping to anonymous users of a computer network | 36 | 2001 | |
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| 5,878,337 Transaction security apparatus and method | 165 | 1997 | |
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| 6,032,863 Method and apparatus for producing machine readable bar code | 17 | 1998 | |
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| 2002/0165,830 Process and device for electronic payment | 4 | 2002 | |
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| 5,790,429 Mail coding system | 30 | 1996 | |
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| 6,058,179 One number, intelligent call processing system | 82 | 1998 | |
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| 5,978,774 Electronic registration system for product transactions | 48 | 1999 | |
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| 2002/0082,995 Payment authorization system | 23 | 2000 | |
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| 7,275,685 Method for electronic payment | 39 | 2005 | |
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| 2001/0003,175 Apparatus and method for checking real name on internet | 3 | 2000 | |
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| 2003/0101,134 Method and system for trusted transaction approval | 15 | 2001 | |
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| 6,070,798 Purchaser generated transaction recording and negotiable instrument payment system | 209 | 1997 | |
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| 5,384,449 Authorization matching system | 40 | 1992 | |
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| 6,088,683 Secure purchase transaction method using telephone number | 248 | 1996 | |
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| 6,327,348 Method and system for controlling authorization of credit card transactions | 36 | 1999 | |
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| 6,021,399 Space efficient method of verifying electronic payments | 48 | 1996 | |
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| 5,416,306 Method for comparing and verifying security codes at point of sale | 73 | 1994 | |
| 5,479,510 Automated data card payment verification method | 86 | 1994 | |
| 5,907,142 Fraud resistant personally activated transaction card | 143 | 1996 | |
| 6,014,650 Purchase management system and method | 88 | 1997 | |
| 6,477,578 System and method for conducting secure internet transactions | 40 | 1998 | |
| 6,836,765 System and method for secure and address verifiable electronic commerce transactions | 61 | 2000 | |
| 6,981,216 Method and system for subpoena generation including time-dependent reverse number search | 5 | 2000 | |
| 2002/0116,329 Systems and methods for approval of credit/debit account transactions using a wireless device | 49 | 2001 | |
| 2001/0029,496 Systems and methods for providing anonymous financial transactions | 44 | 2001 | |
| 2002/0023,054 Method and system for protecting credit card transactions | 10 | 2001 | |
| 2003/0061,163 Method and apparatus for verification/authorization by credit or debit card owner of use of card concurrently with merchant transaction | 29 | 2001 | |
| 2003/0055,781 Electronic funds transfers-zipfund | 9 | 2002 | |
| 2005/0075,985 Voice authenticated credit card purchase verification | 14 | 2003 | |
| 2005/0097,049 Methods for verifying cardholder authenticity and for creating billing address database | 11 | 2004 | |
Patent Citation Ranking
Maintenance Fees
| Fee | Large entity fee | small entity fee | micro entity fee | due date |
|---|---|---|---|---|
| 3.5 Year Payment | $1600.00 | $800.00 | $400.00 | Mar 15, 2013 |
| 7.5 Year Payment | $3600.00 | $1800.00 | $900.00 | Mar 15, 2017 |
| 11.5 Year Payment | $7400.00 | $3700.00 | $1850.00 | Mar 15, 2021 |
| Fee | Large entity fee | small entity fee | micro entity fee |
|---|---|---|---|
| Surcharge - 3.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 7.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 11.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge after expiration - Late payment is unavoidable | $700.00 | $350.00 | $175.00 |
| Surcharge after expiration - Late payment is unintentional | $1,640.00 | $820.00 | $410.00 |