Apparatus and method for performing secure financial transactions in an instant messaging environment

• US 20070219901A1
• Filed: 02/23/2006
• Published: 09/20/2007
• Est. Priority Date: 02/23/2006
• Status: Active Grant

• Current Assignee: Edison Vault, LLC
• Original Assignee: International Business Machines Corporation
• Inventors: Kulack, Frederick, Garbow, Zachary, Paterson, Kevin
• Granted Patent: US 9,830,634 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/386 using messaging services or messaging apps using mobile network messaging services for payment, e.g. SMS G06Q20/3255
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0641 Shopping interfaces

Abstract

An apparatus and method provide simple and secure financial transactions in an instant messaging (IM) environment. Two users may engage in an IM session (chat session), with negotiations for a product or service taking place during the chat session. One or both of the users may activate an IM financial transaction mechanism during the chat session. The IM financial transaction mechanism analyzes the chat text, and presents a draft transaction to both buyer and seller, with options based on the analyzed chat text. The draft transaction may be modified by both buyer and seller, who both confirm the draft transaction when all of the details are correct. The confirmed transaction is then sent to a web server that includes an interface to the buyer'"'"'s online account, and payment is made by transferring the funds for the confirmed transaction from the buyer'"'"'s online account to an account for the seller.

Claims

1. An apparatus comprising:

at least one processor;

a memory coupled to the at least one processor;

an instant messaging client residing in the memory and executed by the at least one processor; and

a financial transaction mechanism residing in the memory and executed by the at least one processor, the financial transaction mechanism including an activation mechanism that allows a user of the instant messaging client to activate the financial transaction mechanism based on a current chat session, the financial transaction mechanism analyzing text from the current chat session, presenting a draft transaction based on the analyzed text, allowing the user to change the draft transaction, and allowing the user to confirm the draft transaction.

2. The apparatus of claim 1 further comprising a real-time web search mechanism that performs a web search based on the analyzed text from the current chat session.

3. The apparatus of claim 1 wherein the financial transaction mechanism initiates transfer of funds based on the confirmed transaction.

4. The apparatus of claim 1 wherein the financial transaction mechanism further comprises a user account interface that provides access to an online account of the user.

5. The apparatus of claim 1 further comprising a financial transaction agent that receives the confirmed transaction, validates the confirmed transaction, initiates transfer of funds based on the confirmed transaction, verifies the transfer of funds to complete the confirmed transaction, and logs the completed transaction with corresponding chat session text.

6. The apparatus of claim 1 wherein the financial transaction mechanism interacts with a corresponding financial transaction mechanism for a second user that is a party to the current chat session.

7. A computer-implemented method for performing a financial transaction in an instant messaging environment, the method comprising the steps of:

a first user and a second user having a chat session in the instant messaging environment;

activating a financial transaction mechanism;

analyzing text from the chat session;

presenting a draft transaction based on the analyzed text to the first and second users;

allowing the first and second users to change the draft transaction; and

allowing the first and second users to confirm the draft transaction.

8. The method of claim 7 further comprising the step of performing a real-time web search based on the analyzed text from the chat session.

9. The method of claim 7 further comprising the step of initiating transfer of funds between the first user and the second user based on the confirmed transaction.

10. The method of claim 7 further comprising the steps of:

receiving the confirmed transaction;

validating the confirmed transaction;

initiating transfer of funds based on the validated transaction;

verifying the transfer of funds to complete the validated transaction; and

logging the completed transaction with corresponding chat session text.

11. A computer-readable program product comprising:

a financial transaction mechanism that includes an activation mechanism that allows a user of an instant messaging client to activate the financial transaction mechanism based on a current chat session, the financial transaction mechanism analyzing text from the current chat session, presenting a draft transaction based on the analyzed text, allowing the user to change the draft transaction, and allowing the user to confirm the draft transaction; and

signal bearing media bearing the financial transaction mechanism.

12. The program product of claim 11 wherein the signal bearing media comprises recordable media.

13. The program product of claim 11 wherein the signal bearing media comprises transmission media.

14. The program product of claim 11 further comprising a real-time web search mechanism that performs a web search based on the analyzed text from the current chat session.

15. The program product of claim 11 wherein the financial transaction mechanism initiates transfer of funds based on the confirmed transaction.

16. The program product of claim 11 wherein the financial transaction mechanism further comprises a user account interface that provides access to an online account of the user.

17. The program product of claim 11 further comprising a financial transaction agent that receives the confirmed transaction, validates the confirmed transaction, initiates transfer of funds based on the confirmed transaction, verifies the transfer of funds to complete the confirmed transaction, and logs the completed transaction with corresponding chat session text.

18. The program product of claim 11 wherein the financial transaction mechanism interacts with a corresponding financial transaction mechanism for a second user that is a party to the current chat session.