Universal e-money brokerage service and method
First Claim
1. A method for performing financial transactions involving a plurality of online payment systems comprising:
- (a) opening a first and a second local brokerage account with a first and a second online payment system, respectively;
(b) receiving from a user of the first online payment system a first electronic money transfer within said first online payment system from an account of the user to the first local brokerage account;
(c) crediting a virtual account of the user with a value of electronic money related to said first electronic money transfer;
(d) receiving from the user a request to complete a payment to a vendor having a vendor account on the second online payment system;
(e) debiting the virtual account of the user with a value of electronic money related to the requested payment; and
(f) transferring the requested payment within the second online payment system from the second local brokerage account to the vendor account.
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Accused Products
Abstract
A universal e-money system and corresponding method for financial transactions involving different online payment systems includes local brokerage accounts opened with each online payment system, and software modules programmed in a computer in communication with the online payment systems. The modules interface with a first online payment system to identify receipt from a user of the first online payment system of a first electronic money transfer to a first local brokerage account and credit a virtual account of the user with a related value of electronic money. The modules also interface with the user to receive a request to complete a payment to a vendor having an account on a second online payment system. The virtual account of the user is debited and the requested payment is effected within a second online payment system from the local brokerage account to the vendor account.
27 Citations
12 Claims
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1. A method for performing financial transactions involving a plurality of online payment systems comprising:
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(a) opening a first and a second local brokerage account with a first and a second online payment system, respectively;
(b) receiving from a user of the first online payment system a first electronic money transfer within said first online payment system from an account of the user to the first local brokerage account;
(c) crediting a virtual account of the user with a value of electronic money related to said first electronic money transfer;
(d) receiving from the user a request to complete a payment to a vendor having a vendor account on the second online payment system;
(e) debiting the virtual account of the user with a value of electronic money related to the requested payment; and
(f) transferring the requested payment within the second online payment system from the second local brokerage account to the vendor account. - View Dependent Claims (2, 3, 4)
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5. A universal e-money system for performing financial transactions involving a plurality of online payment systems, the system comprising:
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(a) a first and a second local brokerage account opened with a first and a second online payment system, respectively;
(b) a plurality of software modules programmed in a computer of a data network, said computer being in communication with the plurality of online payment systems, said plurality of modules being configured to;
(i) interface with the first online payment system to identify receipt from a user of the first online payment system of a first electronic money transfer within the first online payment system from an account of the user to said first local brokerage account;
(ii) credit a virtual account of the user with a value of electronic money related to said first electronic money transfer;
(iii) interface with the user to receive from the user a request to complete a payment to a vendor having a vendor account on the second online payment system;
(iv) debit the virtual account of the user with a value of electronic money related to the requested payment; and
(v) interface with the second online payment system to transfer the requested payment within the second online payment system from said second local brokerage account to the vendor account. - View Dependent Claims (6, 7, 8)
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9. A program storage device readable by a machine, tangibly embodying a program of instructions executable by the machine to perform a method for performing financial transactions between users of a first and a second online payment system within which have been opened a first and a second local brokerage account, respectively, the method comprising the steps of:
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(a) receiving from a user of the first online payment system a first electronic money transfer within said first online payment system from an account of the user to the first local brokerage account;
(b) crediting a virtual account of the user with a value of electronic money related to said first electronic money transfer;
(c) receiving from the user a request to complete a payment to a vendor having a vendor account on the second online payment system;
(d) debiting the virtual account of the user with a value of electronic money related to the requested payment; and
(e) transferring the requested payment within the second online payment system from the second local brokerage account to the vendor account. - View Dependent Claims (10, 11, 12)
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Specification