System and method for on-line commerce operations
First Claim
1. :
- A system for an on-line marketplace, comprising;
a plurality of independent stored value providers (ISVPs) managing stored value accounts (SVAs) associated with a plurality of consumers and providing on-line access to the SVAs for the plurality of consumers;
a plurality of retail financial service providers (RFSPs) receiving deposits from the plurality of consumers to fund the SVAs, each of the RFSPs associated with one of the ISVPs, at least one network interconnecting the plurality of ISVPs and the plurality of RFSPs, wherein each RFSP provides to the associated ISVP positive identity verification information and age verification information for each consumer for each occurrence of funding one of the SVAs, and the associated ISVP makes available the positive identity verification information and the age verification information for controlling an on-line transaction involving the one of the SVAs.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method provides for an independent provider of electronic “stored value” credit to enable a consumer of products and services to apply cash or cash equivalents to fund an electronic account, i.e., a stored value account (SVA), managed by an independent stored value provider (ISVP) in a network of ISVPs. The consumer is typically a customer of the ISVP. The applied funds may be used by the customer to purchase products and services from any of several merchants that have established a transactional business association with the ISVP. The merchants may also be any type of on-line e-commerce business and/or a traditional in-store business. Moreover, a customer may transfer funds from one SVA to another SVA. Customers may add funds to a SVA, in person, at a Retail Financial Service Provider (RFSP) who verifies the identity of the consumer. The system and method does not require traditional financial information such as bank accounts, social security information, credit card or debit card information thereby avoiding any possibility of misuse of this information by others. Age verification and identity verification is facilitated by the system.
54 Citations
29 Claims
-
1. :
- A system for an on-line marketplace, comprising;
a plurality of independent stored value providers (ISVPs) managing stored value accounts (SVAs) associated with a plurality of consumers and providing on-line access to the SVAs for the plurality of consumers;
a plurality of retail financial service providers (RFSPs) receiving deposits from the plurality of consumers to fund the SVAs, each of the RFSPs associated with one of the ISVPs, at least one network interconnecting the plurality of ISVPs and the plurality of RFSPs, wherein each RFSP provides to the associated ISVP positive identity verification information and age verification information for each consumer for each occurrence of funding one of the SVAs, and the associated ISVP makes available the positive identity verification information and the age verification information for controlling an on-line transaction involving the one of the SVAs. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
- A system for an on-line marketplace, comprising;
-
18. :
- A system for on-line payment system, comprising;
means for establishing and maintaining a stored value account (SVA) for a consumer;
means for receiving funding for the SVA;
means for recording a verified identity indication indicating that the identity of the consumer has been verified by a human agent at the time of funding the SVA;
means for recording a minimum age indicator at the time of funding indicating that the consumer is at least a minimum age for purchasing a product or service, wherein the minimum age indicator is other than a birth date of the consumer; and
means for conveying the recorded verified identity indication and the minimum age indicator to an on-line merchant for granting or denying a transaction. - View Dependent Claims (19, 20)
- A system for on-line payment system, comprising;
-
21. :
- A method for managing an on-line payment, comprising the steps of;
providing a plurality of independent stored value providers (ISVPs) to manage stored value accounts (SVAs) associated with a plurality of consumers and to provide on-line access to the SVAs for the plurality of consumers;
providing a plurality of retail financial service providers (RFSPs) to receive funds from the plurality of consumers to fund the SVAs, each of the RFSPs associated with one of the ISVPs, and each RFSP provides positive identity verification information and age verification information to the associated ISVP for each consumer for each occurrence of funding one of the plurality of SVAs; and
interconnecting the plurality of ISVPs and the plurality of RFSPs, wherein the associated ISVP makes available the positive identity verification information and the age verification information for denying or granting an on-line transaction. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29)
- A method for managing an on-line payment, comprising the steps of;
Specification