Electronic verification system and method
First Claim
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1. A computer based verification method comprising:
- storing a buyer account number and account data on a buyer system;
storing a seller account number and account data on a seller system;
determining a transaction amount;
determining a transaction time;
generating a first set of sample data from the data stored on the buyer system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
generating a second set of sample data from the data previously stored on the seller system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
comparing at least a portion of the generated first set of sample data to at least a portion of the second set of sample data;
sending the generated sample data to an administrator system, if the comparison is positive;
comparing unique data included in the first set of sample data to unique data previously stored at the administrator system that is associated with the buyer account number;
comparing unique data included in the second set of sample data to unique data previously stored at the administrator system that is associated with the seller account number; and
completing the transaction, if the unique data comparisons are positive.
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Abstract
A computer based system, method, and computer program product for performing verification between two parties. The system generates buyer and seller sample data from data stored on buyer and seller systems based on a determined transaction time and the account numbers. The system sends the generated sample data to an administrator system, if a comparison between the generated buyer and seller sample data is positive. The administrator system completes the transaction, if the sent data compares positively to data previously stored in the administrator system.
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Citations
20 Claims
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1. A computer based verification method comprising:
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storing a buyer account number and account data on a buyer system;
storing a seller account number and account data on a seller system;
determining a transaction amount;
determining a transaction time;
generating a first set of sample data from the data stored on the buyer system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
generating a second set of sample data from the data previously stored on the seller system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
comparing at least a portion of the generated first set of sample data to at least a portion of the second set of sample data;
sending the generated sample data to an administrator system, if the comparison is positive;
comparing unique data included in the first set of sample data to unique data previously stored at the administrator system that is associated with the buyer account number;
comparing unique data included in the second set of sample data to unique data previously stored at the administrator system that is associated with the seller account number; and
completing the transaction, if the unique data comparisons are positive. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18, 19, 20)
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12. A computer based verification system comprising:
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a buyer system for storing a buyer account number and account data;
a seller system in communication with the buyer system for storing a seller account number and account data; and
an administrator system in communication over a network with at least one of the buyer or seller system, wherein at least one of the buyer or seller system comprises;
a first component for determining a transaction amount;
a second component for determining a transaction time;
a third component for generating a first set of sample data from the data stored on the buyer system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
a fourth component for generating a second set of sample data from the data previously stored on the seller system based on the determined transaction time and the account numbers associated with the account data previously stored on the buyer and seller systems;
a fifth component for comparing at least a portion of the generated first set of sample data to the second set of sample data;
a sixth component for sending the generated sample data to an administrator system, if the comparison is positive, wherein the administrator system comprises;
a first component for comparing unique data included in the first set of sample data to unique data previously stored at the administrator system that is associated with the buyer account number;
a second component for comparing unique data included in the second set of sample data to unique data previously stored at the administrator system that is associated with the seller account number; and
a third component for completing the transaction, if the unique data comparisons are positive.
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Specification