System and Method for Two-Way Transfer of Funds and Electronic Content Between Summa Account Users with Gathering of Behavioral Metrics and Management of Multiple Currencies and Escrow Accounts

• US 20090319368A1
• Filed: 08/20/2009
• Published: 12/24/2009
• Est. Priority Date: 02/26/2004
• Status: Active Grant

• Current Assignee: David C. Reardon
• Original Assignee: David C. Reardon
• Inventors: Henson, Timothy L., Reardon, David C.
• Granted Patent: US 8,346,660 B2
• Time in Patent Office: Days
• US Class Current: 705/14.510
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0253 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 17/16 for devices exhibiting advertisements, announcements, pictures or the like

Abstract

A method and system for creating a pre-defined electronic transactions is disclosed. the system comprises a server in communication with a database and a computer network, and the server is configured to: (1) receive a request to create a pre-defined electronic transaction from a client computer via the computer network, (2) receive input from the client computer comprising information that at least partially defines the pre-defined electronic transaction, and (3) store the received information in the database.

Claims

1. A system for creating a pre-defined electronic transaction, the system comprising:

a server in communication with a database and a computer network, the server being configured to;

(1) receive a request to create a pre-defined electronic transaction from a client computer via the computer network, (2) receive input from the client computer comprising information that at least partially defines the pre-defined electronic transaction, and (3) store the received information in the database;

wherein the pre-defined electronic transaction comprises a Summa transaction that can be executed by activating a Summa hyperlink.

2. The system of claim 1 wherein the stored information comprises an identification of a product that can be purchased via completion of the pre-defined electronic transaction.

3. The system of claim 2 wherein the product identification comprises an identification of a tangible item.

4. The system of claim 2 wherein the stored information comprises a vendor ID, a product ID, and a price associated with the product.

5. The system of claim 2 wherein the stored information comprises a delivery data field that defines data that will be delivered to a Summa user upon completion of the Summa transaction.

6. The system of claim 5 wherein the delivery data field comprises a receipt for the purchase of the product.

7. The system of claim 5 wherein the product identification comprises an identification of electronic content.

8. The system of claim 7 wherein the delivery data field comprises a username and password required for accessing the electronic content.

9. The system of claim 7 wherein the stored information comprises an indication that a unique identifying code should be generated and inserted into the delivery data field in real-time.

10. The system of claim 9 wherein the stored information comprises an electronic address associated with the client where the generated unique identifying code should be electronically delivered.

11. The system of claim 1 wherein the stored information comprises an identification of a paid task that must be performed prior to completion of the pre-defined electronic transaction.

12. The system of claim 11 wherein the paid task comprises viewing an electronic advertisement.

13. The system of claim 11 wherein the stored information comprises a vendor ID, a task ID, and a payment amount associated with the task.

14. The system of claim 1 wherein the stored information comprises an affiliate commission percentage.

15. A method for creating a pre-defined electronic transaction, the method comprising:

providing a server in communication with a database and a computer network, the server being configured to;

(1) receive a request to create a pre-defined electronic transaction from a client computer via the computer network, (2) receive input from the client computer comprising information that at least partially defines the pre-defined electronic transaction, and (3) store the received information in the database;

wherein the pre-defined electronic transaction comprises a Summa transaction that can be executed by activating a Summa hyperlink.

16. The method of claim 15 wherein the server is configured to (1) provide at least one GUI to the client computer, the at least one GUI comprising a plurality of user-input fields, and (2) receive the input from the client computer via the GUI.

17. The method of claim 15 wherein the server is configured to receive input from the client computer via an automated process.

18. The method of claim 15 wherein the stored information comprises an identification of a product that can be purchased via completion of the pre-defined electronic transaction.

19. The method of claim 18 wherein the stored information comprises a delivery data field that defines data that will be delivered to a Summa user upon completion of the Summa transaction.

20. The method of claim 19 wherein the delivery data field comprises a receipt for the purchase of the product.

21. The method of claim 19 wherein the product identification comprises an identification of electronic content.

22. The method of claim 21 wherein the delivery data field comprises a username and password required for accessing the electronic content.

23. The method of claim 21 wherein the stored information comprises an indication that a unique identifying code should be generated and inserted into the delivery data field in real-time.

24. The method of claim 23 wherein the stored information comprises an electronic address associated with the client where the generated unique identifying code should be electronically delivered.

25. The method of claim 15 wherein the stored information comprises an identification of a paid task that must be performed prior to completion of the pre-defined electronic transaction.

26. The method of claim 25 wherein the wherein the paid task comprises viewing an electronic advertisement.

27. The method of claim 25 wherein the stored information comprises a vendor ID, a task ID, and a payment amount associated with the task.

28. The method of claim 15 wherein the stored information comprises an affiliate commission percentage.

29. A method of processing electronic transactions between user accounts on a designated network, the method comprising:

providing a plurality of users each with a user account comprising an account identifier and a financial account, each user account being enabled to execute electronic transactions and receive electronic content;

providing a memory storing a database, the database storing a portion of the user account information;

providing at least one server, the server being in communication with the memory and with a plurality of electronic communication devices, via the designated network, each of the plurality of electronic communication devices being associated with a user;

receiving, from a first user via the designated network, data defining an electronic transaction, the data comprising an electronic content part and at least one designation of funds comprising a payment amount to be transferred between the financial account associated with the first user and a financial account associated with a second user, the data further comprising delivery criteria defining one or more user accounts eligible to execute the electronic transaction;

storing the data in the database as data associated with the first user'"'"'s account;

receiving from a second user via the designated network, a request to execute the electronic transaction;

comparing the second user'"'"'s account information to the delivery criteria associated with the electronic transaction;

delivering the electronic content part of the electronic transaction to the second user and transferring at least a portion of the payment amount between the first user'"'"'s financial account and the second user'"'"'s financial account if and only if the second user'"'"'s account information is compatible with the delivery criteria associated with the electronic transaction; and

storing, in the database, data describing the second user'"'"'s interaction with the electronic transaction.

30. The method of claim 29 wherein the request to execute the electronic transaction comprises an HTTP request created by activation of a hyperlink associated with the electronic transaction.

31. The method of claim 30 wherein the electronic transaction data comprises a product ID, wherein the hyperlink comprises a product ID, and wherein the server is further configured to (1) receive, upon activation of the hyperlink, the hyperlink product ID, and (2) query the database to find the associated electronic transaction data for the received hyperlink product ID.

32. The method of claim 31 wherein the hyperlink comprises a payment amount and wherein the server is further configured to (1) receive the hyperlink payment amount upon activation of the hyperlink, (2) compare the hyperlink payment amount to the stored payment amount for the electronic transaction, and (3) process the request by one of two disposition modes, the first mode comprising notifying the second user of an error if the hyperlink payment amount does not match the stored payment amount for the electronic transaction, and the second mode comprising executing the electronic transaction if the hyperlink payment amount matches the stored payment amount for the electronic transaction.

33. The method of claim 32 wherein the designation of funds comprises a payment amount to be transferred from the first user'"'"'s financial account to the second user'"'"'s financial account, and wherein the second user'"'"'s electronic communication device is configured to read the payment amount from the hyperlink and display the payment amount as a payment that will be paid to the second user upon activating the hyperlink.

34. The method of claim 33 wherein the stored electronic transaction data comprises a condition that the second user must satisfy before the electronic transaction will be executed, and wherein the server is configured not to execute the electronic transaction until the condition is satisfied.

35. The method of claim 34 wherein the electronic transaction data comprises a period of time, and wherein the condition comprises viewing an advertisement for the period of time.

36. The method of claim 31 wherein the designation of funds comprises a payment amount to be transferred from the second user'"'"'s financial account to the first user'"'"'s financial account and wherein the second user'"'"'s electronic communication device is configured to display the payment amount as a price that will be paid from the second user'"'"'s financial account upon activating the hyperlink.

37. The method of claim 36 wherein the second user'"'"'s computer is configured to require a confirmation if the price is above a predetermined threshold.

38. The method of claim 36 wherein the message part of the stored electronic transaction data comprises a purchase receipt.

39. The method of claim 36 wherein the message part of the stored electronic transaction data comprises access information that is necessary for accessing electronic content provided by the vendor.

40. The method of claim 39 wherein the access information comprises a password.

41. The method of claim 36 wherein the electronic transaction data comprises an indication that a one-time code is required, and wherein the server is further configured to (1) generate a one-time code (2) insert the one-time code into the electronic content part of the electronic transaction, and (3) electronically deliver the one-time code to the first user in real-time.

42. The method of claim 36 wherein the electronic transaction data comprises an indication that a one-time code is required, and wherein the server is further configured to (1) generate a message to the first user comprising a notification that the hyperlink has been activated, (2) receive a one-time code from the first user, and (3) insert the one-time code into the electronic content part of the electronic transaction.

43. The method of claim 36 wherein the server is further configured to (1) receive electronic content associated with an electronic transaction, and (2) insert the received electronic content into the electronic content part of the electronic transaction.

44. The method of claim 36 wherein the electronic transaction data comprises a pre-defined percentage of revenue to be shared with an affiliate user account, and wherein the server is further configured to (1) identify an affiliate based on the received request to execute the electronic transaction, and (2) deliver the pre-defined percentage of the payment amount to the affiliate user'"'"'s financial account.

45. The method of claim 44 wherein the server is configured to identify an affiliate based on the received “

HTTP referer”

header in the HTTP request.

46. A system for processing electronic transactions between user accounts on a designated network, the system comprising:

a memory storing a database;

a server in communication with the memory and further in communication with a plurality of electronic communication devices via the designated network, the server being configured to;

(1) provide a plurality of users each with a user account comprising an account identifier and a financial account, each user account being enabled to execute electronic transactions and receive electronic content,

(2) receive, from a first user via the designated network, data defining an electronic transaction, data comprising an electronic content part of the electronic transaction and a designation of funds part comprising a payment amount to be transferred between the financial account associated with the first user and a financial account associated with a second user, the data further comprising delivery criteria defining one or more user accounts eligible to execute the electronic transaction,

(3) store the data in the database as data associated with the first user'"'"'s account;

(4) receive, from a second user via the designated network, a request to execute the electronic transaction,

(5) compare the second user'"'"'s account information to the delivery criteria associated with the electronic transaction,

(6) deliver the electronic content part of the electronic transaction to the second user and transfer at least a portion of the payment amount between the first user'"'"'s financial account and the second user'"'"'s financial account if and only if the second user'"'"'s account information is compatible with the delivery criteria associated with the electronic transaction, and

(7) store, in the database, data describing the second user'"'"'s interaction with the electronic transaction.

47. The system of claim 46 wherein the request to execute the electronic transaction comprises an HTTP request created by activation of a hyperlink associated with the electronic transaction.

48. The system of claim 47 wherein the electronic transaction data comprises a product ID, and wherein the hyperlink comprises a product ID, and wherein the server is further configured to (1) receive, upon activation of the hyperlink, the hyperlink product ID, and (2) query the database to find the associated electronic transaction data for the received hyperlink product ID.

49. The system of claim 48 wherein the hyperlink comprises a payment amount and wherein the server is further configured to (1) receive the hyperlink payment amount upon activation of the hyperlink, (2) compare the hyperlink payment amount to the stored payment amount for the electronic transaction, and (3) process the request by one of two disposition modes, the first mode comprising notifying the second user of an error if the hyperlink payment amount does not match the stored payment amount for the electronic transaction, and the second mode comprising executing the electronic transaction if the hyperlink payment amount matches the stored payment amount for the electronic transaction.

50. The system of claim 49 wherein the designation of funds comprises a payment amount to be transferred from the first user'"'"'s financial account to the second user'"'"'s financial account, and wherein the second user'"'"'s electronic communication device is configured to read the payment amount from the hyperlink and display the payment amount as a payment that will be paid to the second user upon activating the hyperlink.

51. The system of claim 50 wherein the stored electronic transaction data comprises a condition that the second user must satisfy before the electronic transaction will be executed, and wherein the server is configured not to execute the electronic transaction until the condition is satisfied.

52. The system of claim 51 wherein the electronic transaction data comprises a period of time, and wherein the condition comprises viewing an advertisement for the period of time.

53. The system of claim 48 wherein the designation of funds comprises a payment amount to be transferred from the second user'"'"'s financial account to the first user'"'"'s financial account and wherein the second user'"'"'s electronic communication device is configured to display the payment amount as a price that will be paid from the second user'"'"'s financial account upon activating the hyperlink.

54. The system of claim 53 wherein the second user'"'"'s electronic communication device is configured to require a confirmation if the price is above a predetermined threshold.

55. The system of claim 53 wherein the electronic content part of the stored electronic transaction data comprises a purchase receipt.

56. The system of claim 53 wherein the electronic content part of the stored electronic transaction data comprises access information that is necessary for accessing electronic content.

57. The system of claim 56 wherein the access information comprises a password.

58. The system of claim 53 wherein the electronic transaction data comprises an indication that a one-time code is required, and wherein the server is further configured to (1) generate a one-time code (2) insert the one-time code into the electronic content part of the electronic transaction, and (3) electronically deliver the one-time code to the first user in real-time.

59. The system of claim 53 wherein the electronic transaction data comprises an indication that a one-time code is required, and wherein the server is further configured to (1) generate a message to the first user comprising a notification that the hyperlink has been activated, (2) receive a one-time code from the first user, and (3) insert the one-time code into the electronic content part of the electronic transaction.

60. The system of claim 53 wherein the server is further configured to (1) receive electronic content from a user associated with a electronic transaction, and (2) insert the received electronic content into the electronic content part of the electronic transaction.

61. The system of claim 53 wherein the electronic transaction data comprises a pre-defined percentage of revenue to be shared with an affiliate user account, and wherein the server is further configured to (1) identify an affiliate based on the received request to execute the electronic transaction, and (2) deliver the pre-defined percentage of the payment amount to the affiliate user'"'"'s financial account.

62. The system of claim 61 wherein the server is configured to identify an affiliate based on the received “

HTTP referer”

header in the HTTP request.