Method and system for the execution of non-bank Third Party Services Transactions over Financial Networks through Electronic Terminals utilizing a Non-Depository Virtual Account Management System
First Claim
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1. A new method and system for the issuance of a third party service'"'"'s financial transaction over financial networks, comprising:
- a. Providing a financial transaction system for the execution of said third party service'"'"'s financial transaction through a financial network as requested by an individual financial instrument holder, andb. Providing said financial transaction system for the settlement of said third party service'"'"'s financial transaction as requested by said individual financial instrument holder over financial networks utilizing acquiring processors, merchant vendors, financial instrument issuing banks and third party service providers.c. Providing a new use data set for the identification and authorization of said individual financial instrument holder request of said third party service'"'"'s financial transaction utilized by said financial networks'"'"' transaction system.d. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by said third party service providers.e. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by an acquiring processor.f. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by a merchant vendor servicing third party service'"'"'s financial transactions.g. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by said individual financial instrument holder'"'"'s depository account for settlement of said third party service'"'"'s financial transaction.h. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by the individual'"'"'s financial instrument issuer.i. Providing said new use data set that is compatible with the financial network'"'"'s messaging protocols.Whereby an individual requests said transaction with said third party service provider other than a direct bank or merchant vendor servicing third party service'"'"'s financial transactions transaction that can than be carried out on existing financial networks.
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Abstract
The present embodiment of the system is a new and useful method and system for automating Third Party Financial Transactions via an Electronic Transaction Apparatus, by enabling a Transaction Acquirer Processor and a Third Party Service Provider to provide a Financial Instrument Holder, access to a non-bank third party service and complete a transaction utilizing a Non-depository Virtual Account Management System, when the individual'"'"'s requests a third party transaction on an Electronic Terminal device.
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Citations
13 Claims
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1. A new method and system for the issuance of a third party service'"'"'s financial transaction over financial networks, comprising:
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a. Providing a financial transaction system for the execution of said third party service'"'"'s financial transaction through a financial network as requested by an individual financial instrument holder, and b. Providing said financial transaction system for the settlement of said third party service'"'"'s financial transaction as requested by said individual financial instrument holder over financial networks utilizing acquiring processors, merchant vendors, financial instrument issuing banks and third party service providers. c. Providing a new use data set for the identification and authorization of said individual financial instrument holder request of said third party service'"'"'s financial transaction utilized by said financial networks'"'"' transaction system. d. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by said third party service providers. e. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by an acquiring processor. f. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by a merchant vendor servicing third party service'"'"'s financial transactions. g. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by said individual financial instrument holder'"'"'s depository account for settlement of said third party service'"'"'s financial transaction. h. Providing said new use data set for said identification and authorization of said requested third party service'"'"'s financial transaction utilized by the individual'"'"'s financial instrument issuer. i. Providing said new use data set that is compatible with the financial network'"'"'s messaging protocols. Whereby an individual requests said transaction with said third party service provider other than a direct bank or merchant vendor servicing third party service'"'"'s financial transactions transaction that can than be carried out on existing financial networks. - View Dependent Claims (2)
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3. A method and system for the settlement of said third party service'"'"'s financial transaction over financial networks;
- by providing for the management of the execution and settlement of said third party service'"'"'s financial transaction over financial networks utilizing existing financial networks, merchants vendors, acquiring processors, financial instrument (card) management systems, financial instrument issuers and financial network protocols;
- View Dependent Claims (4, 5, 6, 7, 8)
- by providing for the management of the execution and settlement of said third party service'"'"'s financial transaction over financial networks utilizing existing financial networks, merchants vendors, acquiring processors, financial instrument (card) management systems, financial instrument issuers and financial network protocols;
- 9. An new use for the handling of a request, authorization, execution and settlement of said third party transaction over financial networks by an individual by providing a new use for electronic terminal devices to offer and facilitate said third party service transaction and a means for real-time sequential processing of said third party transaction over financial networks by an individual;
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11. A system for the management of said third party service'"'"'s financial transaction over financial networks;
- by providing for the management system for said execution and settlement of said third party service'"'"'s financial transaction over financial networks utilizing existing financial networks, merchants vendors servicing third party service'"'"'s financial transactions, acquiring processors, financial instrument management systems, financial instrument issuers and financial network protocols;
- View Dependent Claims (12, 13)
- by providing for the management system for said execution and settlement of said third party service'"'"'s financial transaction over financial networks utilizing existing financial networks, merchants vendors servicing third party service'"'"'s financial transactions, acquiring processors, financial instrument management systems, financial instrument issuers and financial network protocols;
Specification