High-security E-currency IDs for E-commerce transactions
First Claim
1. A method for making payments on the Internet, comprising:
- a user obtaining a unique ID from a Service Provider when said user wants to make a payment on the Internet;
said user communicating said ID to a vendor in place of a credit card; and
said vendor completing or rejecting the transaction by communicating with said Service Provider.
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Accused Products
Abstract
E-currency ID provides a highly secure, single-usage ‘virtual card’ that can be used for purchase on the Internet, while maintaining user privacy, security and control. Anytime the user needs to use a credit card on the Internet, they can use a unique e-currency ID instead. No actual card information is transmitted to the vendor and the e-currency ID cannot be reused, thus providing security against misuse of information even if the vendor'"'"'s security system is breached. The user can optionally setup for notification and confirmation, wherein all request from vendors for payment authorization are sent to the user (notification) and are only authorized after user approval (confirmation). The invention also provides capability for setting up recurring payments using e-currency Ids.
64 Citations
16 Claims
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1. A method for making payments on the Internet, comprising:
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a user obtaining a unique ID from a Service Provider when said user wants to make a payment on the Internet;
said user communicating said ID to a vendor in place of a credit card; and
said vendor completing or rejecting the transaction by communicating with said Service Provider. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for completing a secure e-commerce transaction between a customer and a vendor, both connected to a network, while protecting information even if vendor'"'"'s security is breached and providing end-to-end user control, comprising:
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obtaining a single use ID from a Service Provider (SP) when a customer is ready to place an order;
transmitting said ID to a vendor in place of credit card information or bank account information of said customer;
sending information from said SP to said customer system when said vendor requests payment and taking user confirmation; and
sending acceptance/rejection to said vendor from said SP after validating customer balances.
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Specification