Electronic payment system utilizing intermediary account
Number of patents in Portfolio can not be more than 2000
United States of America Patent
Stats
-
Dec 27, 2011
Grant Date -
May 17, 2001
app pub date -
Dec 11, 2000
filing date -
Nov 17, 1998
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
Payments in cash are submitted to a merchant at a point of sale. The payment transaction is effected electronically to credit the end user's intermediary account. Subsequent electronic communications between the intermediary account and a vendor site effect payment to the vendor for goods or services on behalf of the end user. This system leverages the existing credit card payment system in reverse so as to provide the convenience of submitting cash payments at a multitude of merchant locations.
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