Method and system for payment over the internet
First Claim
1. A method for conducting an electronic transaction between a first party and a second party, comprising:
- receiving payment instructions electronically from the first party by a third party;
determining whether the first party has an existing checking account and credit card account with the third party;
carrying out the instructions, the instructions directed at satisfying an obligation to the second party by the first party by debiting directly from the first party'"'"'s existing checking account or credit card account, or a newly established account; and
integrating financial services in satisfying the obligation of the first party to the second party.
1 Assignment
0 Petitions
Accused Products
Abstract
A method and system for integrated payment services by a financial institution providing on-line payments, risk management, account information protection, escrow services, and payee holding accounts. The system involves payments via web site, email, Internet phone, and personal appliances, such as personal digital assistants (PDAs). The method and system empowers non-merchants with the capability of receiving integrated payment services over a communications network. Payments may be made directly from a payer'"'"'s checking or credit card account, and the payer and payee may individually select the preferred manner of payment in terms of timeliness, guarantees, and fees.
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Citations
33 Claims
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1. A method for conducting an electronic transaction between a first party and a second party, comprising:
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receiving payment instructions electronically from the first party by a third party;
determining whether the first party has an existing checking account and credit card account with the third party;
carrying out the instructions, the instructions directed at satisfying an obligation to the second party by the first party by debiting directly from the first party'"'"'s existing checking account or credit card account, or a newly established account; and
integrating financial services in satisfying the obligation of the first party to the second party. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 29, 30, 31, 32, 33)
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28. A system for conducting an electronic transaction between a first party and a second party, comprising:
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a server configured to receive instructions electronically from the first party to a third party;
a database configured to store information regarding whether the first party has an existing checking account and credit card account with the third party;
wherein the instructions are directed at satisfying an obligation to the second party by the first party by debiting directly from the first party'"'"'s existing checking account or credit card account, or a newly established account; and
a database configured to store information integrating financial services in satisfying the obligation of the first party to the second party.
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Specification