Technique for conducting secure transactions over a network

• US 20040199431A1
• Filed: 04/23/2004
• Published: 10/07/2004
• Est. Priority Date: 12/11/1998
• Status: Abandoned Application

• Current Assignee: Checkfree Corporation (Fiserv Incorporated)
• Original Assignee: Checkfree Corporation (Fiserv Incorporated)
• Inventors: Ganesan, Ravi, Kight, Peter, Ganesan, Karuna
• Application Number:
  US10/831,080
• Publication Number:
  US 20040199431A1
• Time in Patent Office: Days
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]

Abstract

A method for conducting cashless transactions, includes receiving, at a first network device associated with a seller, information identifying a product intended to be purchased at a purchase price by a purchaser. The purchase price is to be paid through a transfer to the seller of funds deposited in or credited to an account of the purchaser. The identity of the account having the funds is and remains unknown to the seller. The authorization of the purchaser to pay the purchase price for the identified product through the transfer to the seller of the funds in the account is transmitted to a second network device associated with the financial institute at which the account is maintained. A determination is made as to whether or not the funds are sufficient with respect to the purchase price. If so, the authorization of the financial institute for the seller to proceed with delivery of the identified product is transmitted from the second network device to the first network device.

Claims

1. A method of facilitating a cashless payment of a merchant for a purchase, the method comprising:

receiving information identifying a potential purchaser without identifying an account number of a funding account of the potential purchaser, the information received from the potential purchaser without transmission through the merchant;

determining, at least in part based upon the received information, if payment by or on behalf of the potential purchaser to the merchant using funds from the funding account of the potential purchaser is to be authorized,

wherein information is received and authorization is determined by a third party other than the potential purchaser and the merchant; and

transmitting payment authorization directly from the third party to the merchant if it is determined that payment by or on behalf of the potential purchaser to the merchant using funds from the funding account of the potential purchaser is authorized, thereby enabling the merchant to complete the purchase.

2. A method according to claim 1 wherein transmitting the payment authorization comprises providing the payment authorization without notifying the merchant of the account number of the funding account of the potential purchaser.

3. A method according to claim 1 wherein the fundingaccount is a deposit account.

4. A method according to claim 1 wherein the funding account is a credit account.

5. A method according to claim 1 further comprising:

receiving notification of delivery of the purchase responsive to the payment authorization; and

transferring funds to the merchant following receipt of the notification of the delivery.

6. A method according to claim 1 further comprising:

providing the potential purchaser with a plurality of payment options including payment by means of the funding account; and

receiving a selection by the potential purchaser of payment by means of the funding account.

7. A method according to claim 6 further comprising automatically establishing a hyperlink to the third party in response to selection by the potential purchaser of payment by means of the funding account.

8. A method according to claim 1 further comprising receiving pricing information relating to one or more products selected by the potential purchaser.

9. A method according to claim 8 wherein the pricing information comprises a total price associated with the purchase of the product.

10. A method according to claim 9 wherein the total price comprises a sum of product price, sales tax, and shipping cost for each product purchased.

11. A method as claimed in claim 8 wherein the pricing information is received by the third party from the potential purchaser.

12. A method according to claim 8 wherein determining if payment is to be authorized is also based at least in part upon the pricing information relating to one or more products selected by the potential purchaser.

13. A method according to claim 1 wherein the purchase is in progress between the potential purchaser and the merchant at the time of receiving the information identifying the potential purchaser.

14. A method according to claim 1 wherein the information received from the potential purchaser is encrypted, further comprising the step of:

at the third party, decrypting the received information.

15. A method of facilitating cashless payment of a merchant for a purchase, comprising:

transmitting, via a network to a first network device, a request to authorize payment for a potential purchaser, the request originating from the potential purchaser without transmission through the merchant, the request including information identifying the potential purchaser without identifying an account number of a funding account of the potential purchaser, wherein the first network device is associated with a third party other than the potential purchaser and the merchant; and

transmitting, via a network from the first network device directly to a second network device associated with the merchant, payment authorization responsive to a determination, based at least in part upon the information included in request, that payment using funds from the funding account of the potential purchaser is to be authorized.

16. A method according to claim 15 wherein transmitting payment authorization comprises transmitting payment authorization without notifying the merchant of the account number of the funding account of the potential purchaser.

17. A method according to claim 15 wherein the funding account is a deposit account.

18. A method as claimed in claim 15 wherein the funding account is a deposit account.

19. A method according to claim 15 further comprising:

receiving notification of delivery of the purchase responsive to the payment authorization; and

transferring funds to the merchant following receipt of the notification of the delivery.

20. A method according to claim 15 wherein the method further comprises:

transmitting, via a network from the second network device to a third network device associated with the prospective purchaser, a plurality of payment options including payment by means of the funding account without identifying the account number of the funding account; and

transmitting, via a network from the third network device to the first network device, a selection of payment by means of the funding account without identifying the account number of the funding account.

21. A method according to claim 15 further comprising:

transmitting via a network from the second network device to a third network device associated with the prospective purchaser, information relating to a plurality of products available for purchase from the merchant and corresponding purchase prices; and

transmitting via a network from the third network device to the second network device, a selection of at least one product for purchase.

22. A method according to claim 21 wherein transmitting the request to authorize payment follows transmitting the selection of at least one product for purchase, and wherein transmitting the request to authorize payment comprises transmitting a request to authorize payment that also includes pricing information for the at least one product selected by the potential purchaser.

23. A method according to claim 22 wherein the pricing information comprises a total price associated with the purchase of the product.

24. A method according to claim 22 wherein the total price comprises a sum of product price, sales tax, and shipping cost for each product purchased.

25. A method according to claim 22 wherein determining if payment is to be authorized is also based at least in part upon the pricing information relating to one or more products selected by the potential purchaser.

26. A method as claimed in claim 15 wherein the pricing information is received by the third party from the potential purchaser.

27. A method according to claim 15 wherein the information received from the potential purchaser is encrypted, further comprising the step of:

at the third party, decrypting the received information.