System and method for new execution and management of financial and data transactions
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United States of America Patent
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Apr 21, 2015
Grant Date -
May 15, 2014
app pub date -
Mar 18, 2013
filing date -
Jul 15, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
A system and method for execution of financial and data transactions includes a point-of-sale device configured to execute a transaction in which at least one good or service is sold to an individual having a card with a storage medium encoding a card number. The transaction is completed after said point-of-sale device receives a data transmission authorizing said transaction. The point-of-sale device is configured to communicate via the Internet with a first computing system. The first computing system stores a set of instructions that cause the first computing system to evaluate the transaction to determine whether the transaction is to be authorized, and to send a transmission authorizing the transaction via the open network to said point-of-sale device.
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