Electronic transfer system
First Claim
1. A method of conducting an on-line transaction including the steps of:
- providing a transaction manager;
generating a single use transaction request identification;
the transaction manager relating the transaction request identification to banking information of a registered user;
providing the registered user with the transaction request identification;
the registered user requesting to purchase a product or service having a value from a merchant, the purchase request including providing the transaction request identification to the merchant;
the merchant sending a payment request to the transaction manager for a fund transfer of the value from the user to the merchant, the payment request including the transaction request identification and the value;
the transaction manager checking the validity of the transaction request identification and disabling re-use of the transaction request identification; and
if the transaction request identification is valid, sending an EFT request to a financial institution to transfer the value in funds from the user to the merchant, the EFT request including the banking information;
checking whether sufficient funds are present in the user'"'"'s bank account and if sufficient funds are present, the financial institution performing the transfer according to the banking information; and
the transaction manager receiving confirmation of the transfer from the financial institution and sending the confirmation to the merchant.
1 Assignment
0 Petitions
Accused Products
Abstract
A method of conducting an on-line transaction includes providing a transaction manager (12). Generating a single use transaction request identification, the transaction manager relating the transaction request identification to banking information of a registered user. Providing the registered user with the transaction request identification; the registered user requesting to purchase a product or service having a value from a merchant, the purchase request including providing the transaction request identification to the merchant. The merchant sending a payment request to the transaction manager for a fund transfer of the value from the user to the merchant, the payment request including the transaction request identification and the value; the transaction manager checking the validity of the transaction request identification and disabling re-use of the transaction request identification; and if the transaction request identification is valid, sending an EFT request to a financial institution to transfer the value in funds from the user to the merchant, the EFT request including the banking information; checking whether sufficient funds are present in the user'"'"'s bank account and if sufficient funds are present, the financial institution performing the transfer according to the banking information; and the transaction manager receiving confirmation of the transfer from the financial institution and sending the confirmation to the merchant.
301 Citations
71 Claims
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1. A method of conducting an on-line transaction including the steps of:
- providing a transaction manager;
generating a single use transaction request identification;
the transaction manager relating the transaction request identification to banking information of a registered user;
providing the registered user with the transaction request identification;
the registered user requesting to purchase a product or service having a value from a merchant, the purchase request including providing the transaction request identification to the merchant;
the merchant sending a payment request to the transaction manager for a fund transfer of the value from the user to the merchant, the payment request including the transaction request identification and the value;
the transaction manager checking the validity of the transaction request identification and disabling re-use of the transaction request identification; and
if the transaction request identification is valid, sending an EFT request to a financial institution to transfer the value in funds from the user to the merchant, the EFT request including the banking information;
checking whether sufficient funds are present in the user'"'"'s bank account and if sufficient funds are present, the financial institution performing the transfer according to the banking information; and
the transaction manager receiving confirmation of the transfer from the financial institution and sending the confirmation to the merchant. - 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, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 51, 52)
- providing a transaction manager;
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48. A method of conducting an on-line transaction including the steps of:
- providing a transaction manager;
generating a single use transaction request identification;
the transaction manager relating the transaction request identification to banking information of a registered user;
providing the registered user with a transaction request identification;
the registered user requesting to transfer an amount from a user account to another account, the transfer request including providing the transaction request identification and amount to the transaction manager;
the transaction manager checking the validity of the transaction request identification and disabling re-use of the transaction request identification;
if the transaction identification is valid, sending an EFT request to a financial institution to transfer the amount of funds from the user'"'"'s account to the other account, the EFT request including the banking information;
checking whether sufficient funds are in the user'"'"'s bank account and if sufficient funds are present, the financial institution performing the transfer according to the banking information; and
the transaction manager receiving confirmation of the transfer from the financial institution and sending the confirmation to the user.
- providing a transaction manager;
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49. A system for conducting an on-line transaction including:
- a transaction manager comprising;
means for registering a user;
means for registering a merchant;
means for generating a single use transaction request identification;
means for providing the registered user with a transaction request identification;
means arranged to relate the transaction request identification to banking information of a registered user;
means for receiving a payment request, the payment request including the transaction request identification, the value to be transferred and an identification of a receiving party;
means for checking the validity of the transaction request identification and disabling re-use of the transaction request identification;
means for sending an EFT request to a financial institution to transfer the value in funds from the user to the receiving party, if the transaction request identification is valid, the EFT request including the banking information;
means for receiving confirmation of the transfer from the financial institution and sending the confirmation to the user AND/OR the other party; and
means for the user to request transfer of the value to be transferred to the other party and providing the transaction request identification to the transaction manager.
- a transaction manager comprising;
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50. A transaction manager for conducting an online transaction, comprising:
- means for registering a user and receiving banking information from the user;
means for registering a merchant;
means for receiving a request from a user for a single use transaction request identification for making a purchase;
means for generating the single use transaction request identification;
means for checking the validity of the user, providing the user with the transaction request identification to the banking information of the user if the user is valid, and relating the transaction request identification;
means for receiving the transaction request identifier and a value of a purchase from the merchant in a purchase report, the transaction request identification having been provided by the user to the merchant in the course of requesting a transaction for the purchase;
sending an EFT request to a financial institution to transfer the value in funds from the user to the merchant, the EFT request including the banking information, if the transaction request identification is valid; and
means for validating the transaction request identification, disabling re-use of the transaction request identification and means for providing the merchant with a unique transaction acceptance identifier if sufficient funds are present for the transfer to occur.
- means for registering a user and receiving banking information from the user;
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53. A method of conducting an on-line financial transaction comprising the steps of:
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registering a user with a transaction manager;
providing the user with an identification code;
identifying the user to the transaction manager by the user providing the identification code to the transaction manager for verification, and when verified providing the user with a single use transaction code;
requesting a financial transaction including the user providing the transaction code;
verifying the identity of the user from the transaction code, and when verified authorizing the financial transaction. - View Dependent Claims (54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71)
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Specification