System and Method for Enhancing Electronic Transactions
First Claim
1. ) A system for enabling customized financial transactions by a consumer on a merchant website via an open architecture, comprising:
- a) a user registration page for permitting a user to register information regarding financial accounts linked to the consumer;
b) logically connected thereto, a security configuration page for enabling the user to provide authentication information for each financial account and to configure one or more personalized security filters associated with each registered financial account;
c) logically connected thereto, an authentication server for storing the registered financial account information, authentication information and personalized security filters;
d) logically connected thereto, a payment server capable ofi. authenticating the user with one or more of the registered financial accounts using the personalized security filters and authentication information provided by the user in response to a payment request;
ii. processing one or more financial transaction(s) using one or more financial accounts linked to the user; and
iii. generating a transaction ID to identify the customer and the associated financial transaction(s).
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Accused Products
Abstract
A system and method that enables a consumer or merchant to configure their own respective requirements for using and accessing one or more financial accounts in connection with a financial transaction between a consumer and a merchant. Requirements can include any number of factors including the credit profile of the user, the size of the transaction, the location of the merchant or user, the device used by the user or merchant to perform the transaction. Once requirements have been met for at least one financial account, permitting the completion of a financial transaction using one or more of the financial accounts that have had its requirements met.
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Citations
29 Claims
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1. ) A system for enabling customized financial transactions by a consumer on a merchant website via an open architecture, comprising:
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a) a user registration page for permitting a user to register information regarding financial accounts linked to the consumer; b) logically connected thereto, a security configuration page for enabling the user to provide authentication information for each financial account and to configure one or more personalized security filters associated with each registered financial account; c) logically connected thereto, an authentication server for storing the registered financial account information, authentication information and personalized security filters; d) logically connected thereto, a payment server capable of i. authenticating the user with one or more of the registered financial accounts using the personalized security filters and authentication information provided by the user in response to a payment request; ii. processing one or more financial transaction(s) using one or more financial accounts linked to the user; and iii. generating a transaction ID to identify the customer and the associated financial transaction(s). - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. ) A system for enabling customized financial transactions by a merchant via an open architecture, comprising:
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a. A merchant registration page for entering merchant financial information including any banking or merchant bank accounts associated with the merchant; b. Logically connected thereto, a merchant configuration page for configuring one or more customer payment configuration options in relation to payment processors and merchant bank accounts; c. a script file, in communication with such merchant configuration page, for retrieving one or more resources for supporting the payment options selected by the merchant; d. Logically connected thereto, a web server that is configured to store and transmit resources requested by the script file; e. Logically connected thereto, a payment page, that includes any software resources retrieved by the script file, for enabling a consumer to enter and submit payment information consistent with the merchant payment configuration options; and f. Logically connected thereto, a payment server for processing a payment in response to submission of payment information by a consumer consistent with the merchant payment configuration options. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. ) A method for enabling user configured financial transactions comprising the steps of:
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a. In response to a user request, transmitting a user registration page that permits a user to register account information regarding one or more financial accounts linked to the consumer; b. in response to a user submission of a registration page, assigning the user an identifier (ID); c. transmitting a security configuration page for enabling the user to configure one or more transaction filters and link the selected filters with one or more of the registered financial accounts; d. receiving a transaction request from a user that includes a user ID; e. retrieving a list of financial accounts linked to the user ID that are permitted for the requested transaction; f. permitting the user to select one or more financial accounts; g. In response to user selection of a financial account linked to the user ID, presenting the user with an authentication request that requires the user to perform actions to satisfy the security filters that have linked to that financial account; and h. In response to correctly entering the authentication information or other requirements of each security filter linked to the financial account, performing the transaction requested by the user. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26)
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27. ) A method for processing a payment comprising the steps of:
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a. receiving a user ID linked to one or more financial accounts and authentication requirements in a database; b. Prompting the user to submit one or more fields of authentication information based on the authentication requirements; c. In response to correct entry of the authentication information for at least one financial account, providing a user with an option to add an escrow to the financial account(s) that were user authenticated; d. In response to user selection of the escrow option, prompting the user to enter one or more attributes that would trigger the creation of the escrow; e. In response to the entry of at least one criteria for that would trigger creation of an escrow, prompting the user to enter at least one attribute that would trigger release of the escrow; and f. Adding at least one field in the database linked to the financial account that has an escrow option that includes the attributes that would trigger creation of an escrow and the attributes hat would trigger release of that escrow. - View Dependent Claims (28, 29)
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Specification