System for and method of effecting an electronic transaction

• US 20030061171A1
• Filed: 10/25/2002
• Published: 03/27/2003
• Est. Priority Date: 05/15/2000
• Status: Active Grant

• Current Assignee: Fidelity Information Services, LLC (Fidelity National Information Services Incorporated)
• Original Assignee: Efunds Corporation (Fidelity National Information Services Incorporated)
• Inventors: Bram, Chuck J., Gilbert, Kevin, Kelling, Susan M., Statland, Scott R., Lumsden, Ian A.
• Granted Patent: US 10,521,782 B2
• Time in Patent Office: Days
• US Class Current: 705/65
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A system for and method of performing a transaction between a consumer (105) and a business entity (110). The method comprising the acts of providing transaction data from a submitter (105) to a transaction facilitator (120), generating a token (130) that identifies the transaction data, storing the transaction data and the token at the transaction facilitator (120), providing the token to the submitter (105), returning the token (130) to the transaction facilitator, obtaining the stored transaction data identified by the token, and using at least a portion of the obtained transaction data to implement the transaction.

Claims

1. A method of performing a transaction between a consumer and a business entity comprising the acts of:

providing transaction data from a submitter to a transaction facilitator;

generating a token that identifies the transaction data;

storing the transaction data and the token at the transaction facilitator;

providing the token to the submitter;

returning the token to the transaction facilitator;

obtaining the stored transaction data identified by the token; and

using at least a portion of the obtained transaction data to implement the transaction.

2. A method as set forth in claim 1 wherein the act of providing transaction data includes providing consumer supplied encrypted data.

3. A method as set forth in claim 2 wherein the act of providing transaction data further includes providing at least one consumer supplied identifier for the encrypted data.

4. A method as set forth in claim 2 wherein the act of providing consumer supplied encrypted data includes providing encrypted financial account data.

5. A method as set forth in claim 4 wherein the act of providing transaction data further includes providing a consumer supplied identifier for the encrypted financial account data.

6. A method as set forth in claim 4 wherein the act of providing consumer supplied encrypted financial account data includes providing an encrypted routing number for an issuing financial institution.

7. A method as set forth in claim 4 wherein the act of providing consumer supplied encrypted financial account data includes providing an encrypted account number at an issuing financial institution.

8. A method as set forth in claim 2 wherein the act of providing consumer supplied encrypted data includes providing encrypted consumer specific data relating to the consumer.

9. A method as set forth in claim 8 wherein the act of providing transaction data further includes providing a consumer supplied identifier for the encrypted consumer specific data.

10. A method as set forth in claim 8 wherein the act of providing encrypted consumer specific data includes providing an encrypted date-of-birth of the consumer.

11. A method as set forth in claim 8 wherein the act of providing consumer specific data includes providing an encrypted electronic mail address of the consumer.

12. A method as set forth in claim 8 wherein the act of providing consumer specific data includes providing an encrypted mailing address of the consumer.

13. A method as set forth in claim 8 wherein the act of providing consumer specific data includes providing an encrypted state of residency of the consumer.

14. A method as set forth in claim 2 wherein the act of providing consumer supplied encrypted data includes providing a consumer supplied encrypted password.

15. A method as set forth in claim 14 wherein the act of providing transaction data further includes providing a consumer supplied non-encrypted password.

16. A method as set forth in claim 1 wherein the act of providing transaction data includes providing an acquiring financial institution.

17. A method as set forth in claim 1 wherein the act of providing transaction data includes providing a submitter supplied trace number.

18. A method as set forth in claim 1 wherein the act of providing transaction data includes providing transaction parameters.

19. A method as set forth in claim 1 wherein the transaction parameters are consumer supplied transaction parameters.

20. A method as set forth in claim 18 wherein the transaction parameters are business entity supplied transaction parameters.

21. A method as set forth in claim 18 wherein the transaction parameters are submitter supplied transaction parameters.

22. A method as set forth in claim 18 wherein the act of providing transaction parameters includes providing a transaction amount.

23. A method as set forth in claim 18 wherein the act of providing transaction parameters includes providing a date restriction.

24. A method as set forth in claim 18 wherein the act of providing transaction parameters includes providing a transaction type.

25. A method as set forth in claim 18 wherein the transaction type is a set-up transaction.

26. A method as set forth in claim 18 wherein the transaction type is a subsequent transaction.

27. A method as set forth in claim 18 wherein the transaction type is a recurring transaction.

28. A method as set forth in claim 1 wherein the submitter is the consumer.

29. A method as set forth in claim 28 and further comprising the act of submitting the token from the consumer to the business as part of a financial transaction.

30. A method as set forth in claim 28 and further comprising the act of submitting the token from the consumer to a payment administrator acting on the behalf of the business entity as part of a financial transaction.

31. A method as set forth in claim 1 wherein the submitter is the business entity.

32. A method as set forth in claim 1 wherein the submitter is a payment administrator.

33. A method as set forth in claim 32 wherein the payment administrator acts on behalf of the business entity.

34. A method as set forth in claim 33 and further comprising the acts of, prior to the act of returning the token to the payment administrator, providing the token from the payment administrator to the business entity, and returning the token from the business entity to the payment administrator at a later time.

35. A method as set forth in claim 32 wherein the payment administrator acts of behalf of the consumer.

36. A method as set forth in claim 35 and further comprising the acts of, prior to the act of returning the token to the payment administrator, providing the token from the payment administrator to the consumer, and submitting the token from the consumer to the business entity.

37. A method as set forth in claim 36 and further comprising the acts of, prior to the act of returning the token to the payment administrator, providing the token from the submitter to the consumer, and submitting the token to a second payment administrator acting on behalf of the business entity as part of a financial transaction.

38. A method as set forth in claim 37 wherein the first and second payment administrators are the same.

39. A method as set forth in claim 1 and further comprising the act of supplying at least a portion of the transaction data from the consumer to the submitter.

40. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying encrypted data from the consumer to the submitter.

41. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter further includes obtaining the encrypted data from a computer readable medium.

42. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter further includes reading the encrypted data from a compact disc.

43. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying encrypted financial account data from the consumer to the submitter.

44. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying encrypted consumer specific data from the consumer to the submitter.

45. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying an identifier for the encrypted data from the consumer to the submitter.

46. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying an encrypted password from the consumer to the submitter.

47. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes supplying a non-encrypted password from the consumer to the submitter.

48. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes transmitting at least a portion of the transaction data from the consumer to the submitter via a network.

49. A method as set forth in claim 39 wherein the act of supplying at least a portion of the transaction data from the consumer to the submitter includes transmitting at least a portion of the transaction data from the consumer to the submitter via the Internet.

50. A method as set forth in claim 1 and further comprising the act of supplying at least a portion of the transaction data from the business entity to the submitter.

51. A method as set forth in claim 50 wherein the act of supplying at least a portion of the transaction data from the business entity to the submitter includes supplying an acquiring financial institution from the business entity to the submitter.

52. A method as set forth in claim 50 wherein the act of supplying at least a portion of the transaction data from the business entity to the submitter includes transmitting at least a portion of the transaction data from the business entity to the submitter via a network.

53. A method as set forth in claim 1 and further comprising the act of originating at least a portion of the transaction data within the submitter.

54. A method as set forth in claim 53 wherein the act of originating at least a portion of the transaction data within the submitter includes originating a trace number within the submitter.

55. A method as set forth in claim 53 wherein the act of originating at least a portion of the transaction data within the submitter includes originating an acquiring financial institution.

56. A method as set forth in claim 1 wherein the act of providing transaction data includes transmitting the transaction data from the submitter to the transaction facilitator via a network.

57. A method as set forth in claim 1 wherein the transaction data includes consumer supplied encrypted data, and wherein the method further comprises the act of, at the transaction facilitator, decrypting the consumer supplied encrypted data.

58. A method as set forth in claim 57 wherein the transaction data includes a consumer supplied identifier for the encrypted data, wherein the method further comprises the act of obtaining a decryption key based at least in part on the consumer supplied identifier, and wherein the act of decrypting the consumer data includes decrypting the consumer supplied encrypted data with the decryption key.

59. A method as set forth in claim 57 wherein the decrypted data includes financial account data.

60. A method as set forth in claim 57 wherein the decrypted data includes consumer specific data relating to the consumer.

61. A method as set forth in claim 57 wherein the decrypted data includes a decrypted password.

62. A method as set forth in claim 61 wherein the transaction data includes a consumer supplied password, wherein the method further comprises the acts of at the transaction facilitator, comparing the consumer supplied password with the decrypted password.

63. A method as set forth in claim 1 wherein the act of using at least a portion of the obtained transaction data to implement the transaction includes the act of transferring funds from a first financial account at an issuing financial institution to a second financial account at an acquiring financial institution.

64. A method as set forth in claim 63 wherein the act of transferring funds includes debiting the first financial account.

65. A method as set forth in claim 63 wherein the act of transferring funds includes crediting the first financial account.

66. A method as set forth in claim 63 wherein the transaction data includes a consumer supplied account identifier that identifies the first financial account, and wherein the method further comprises, after the act of providing transaction data, verifying the existence of the first financial account at the issuing financial institution.

67. A method as set forth in claim 63 wherein the transaction data includes a consumer supplied encrypted account identifier, and wherein the method further comprises the acts of:

at the transaction facilitator, decrypting the consumer supplied encrypted account identifier to obtain a decrypted account identifier; and

after the act of decrypting the consumer supplied encrypted account identifier, verifying the existence of the first financial account at the issuing financial institution.

68. A method as set forth in claim 1 wherein the act of providing transaction data includes the act of providing an identifier of the transaction data, wherein the act of storing the transaction data includes the act of storing the identifier of the transaction data, wherein the act of returning the token to the transaction facilitator includes the act of returning the identifier of the transaction data to the transaction facilitator, and wherein the act of obtaining the stored transaction data includes obtaining the stored transaction data identified by the token and the identifier of the transaction.

69. A method as set forth in claim 68 wherein the identifier of the transaction data is an encrypted data identifier.

70. A method as set forth in claim 1 and further comprising transmitting an electronic message from the transaction facilitator to the submitter informing the submitter whether the transaction was completed.

71. A method as set forth in claim 1 and further comprising transmitting an electronic message from the transaction facilitator to the business entity informing the business entity whether the transaction was completed.

72. A method as set forth in claim 1 and further comprising transmitting an electronic message from the transaction facilitator to the consumer informing the consumer whether the transaction was completed.

73. A method as set forth in claim 1 and further comprising updating the stored transaction signifying a return of the token to the transaction facilitator when the token is returned to the transaction facilitator.

74. A method as set forth in claim 73 and further comprising further updating the stored transaction signifying the transaction did not result in a transfer of finds if the using of at least a portion of the obtained transaction data for completing the transaction resulted in a no funds being transferred.

75. A method as set forth in claim 1 wherein the stored transaction data includes consumer supplied encrypted data, and wherein the method further comprises the acts of, at the transaction facilitator and after the act of obtaining the stored transaction data, decrypting the stored consumer supplied encrypted data to obtain decrypted data.

76. A method as set forth in claim 75 wherein the stored transaction data includes a stored consumer supplied identifier for the stored encrypted data, wherein the method further comprises the act of obtaining a decryption key based at least in part on the stored consumer supplied identifier, and wherein the act of decrypting the stored transaction data includes decrypting the stored consumer supplied encrypted data with the decryption key.

77. A method as set forth in claim 75 wherein the decrypted data includes financial account data.

78. A method of performing a transaction between a consumer and a business entity comprising the acts of:

providing encrypted data to a consumer, the encrypted data including encrypted account specific data and encrypted consumer specific data;

transmitting the encrypted data to a transaction facilitator as part of the transaction;

decrypting the encrypted data to produce decrypted data including decrypted account specific data and decrypted consumer specific data; and

using the decrypted consumer specific data to complete the transaction.

79. A method as set forth in claim 78 wherein the encrypted consumer specific data includes an encrypted date of birth, wherein the act of decrypting the encrypted data produces a decrypted date of birth, and wherein the act of using the decrypted consumer specific data includes the acts of calculating the age of the consumer using the decrypted date of birth and verifying the age of the consumer meets a predetermined requirement.

80. A method as set forth in claim 78 wherein the encrypted consumer specific data includes an encrypted age of the consumer, wherein the act of decrypting the encrypted data produces a decrypted age of the consumer, and wherein the act of using the decrypted consumer specific data includes the acts of calculating and verifying the age of the consumer meets a predetermined requirement.

81. A method as set forth in claim 78 wherein the encrypted consumer specific data includes an encrypted place of residence, wherein the act of decrypting the encrypted data produces a decrypted place of residence, and wherein the act of using the decrypted consumer specific data includes calculating a tax for the transaction based at least in part on the decrypted place of residence.