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Process and method for secure online transactions with calculated risk and against fraud

  • US 20030120615A1
  • Filed: 02/04/2000
  • Published: 06/26/2003
  • Est. Priority Date: 02/04/2000
  • Status: Active Grant
First Claim
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1. In an electronic commerce online transaction that prevent consumer fraud arises from pirated payment card numbers, involving at least one participating host, as a trusted payment card host, serving between buyers, sellers and payment clearing processors, a process and method comprising the following steps:

  • buyer selects a participating host;

    buyer participant sending order for goods and services online to seller participant, without sending payment card numbers along with said order;

    seller participant confirms the said order with the said buyer participant;

    buyer participant authorizes the payment of the said order by sending secret keys to the said participating host;

    seller participant requests for payment approval from buyer participant'"'"'s payment card issuer, through participating host;

    the seller participant fulfills the said order, and requests payment capturing through the said participating host.

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