Financial transaction system

• US 5,822,737 A
• Filed: 02/05/1996
• Issued: 10/13/1998
• Est. Priority Date: 02/05/1996
• Status: Expired due to Term

• Current Assignee: Spindle Mobile, Inc. (Spindle, Inc.)
• Original Assignee: Net Money In
• Inventors: Ogram, Mark E.
• Primary Examiner(s): Cosimano, Edward R.
• Application Number:
  US08/597,017
• Time in Patent Office: 981 Days
• Field of Search: 235/375, 235/379, 235/380, 235/381, 340/825.3, 340/825.31, 340/825.34, 340/825.35, 705/1, 705/26, 705/27, 902/2
• US Class Current: 705/14.4
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/0241 Advertisements
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G07F 7/00 Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 9/002 Vending machines being part of a centrally controlled network of vending machines

Abstract

An automated payment system particularly suited for purchases over a distributed computer network such as the Internet. In such a distributed computer network, a merchant or vending computer contains certain promotional information which is communicated to a customer'"'"'s computer. Based upon the promotional information, the operator of the customer'"'"'s computer decides to purchase the services or goods described by the promotional information. The customer'"'"'s computer is linked to a payment processing computer and the customer'"'"'s credit card number and the amount of the goods or services is transmitted to the payment processing computer. The payment processing computer automatically contacts a bank for verification of the credit card and amount; the bank transmits an authorization to the payment processing computer. The payment processing computer communicates a self-generated transaction indicia, and in some embodiments a password, to the customer'"'"'s computer. In the embodiment where a password is used, the customer'"'"'s computer uses the password with the merchant'"'"'s computer in obtaining access to protected information or to establish shipping instructions.

Claims

1. A financial transaction system comprising:

a) a first bank computer containing financial data therein, said financial data including customer account numbers and available credit data, said first bank computer including means for generating an authorization indicia in response to queries containing a customer account number and amount;

b) a merchant computer containing promotional data;

c) a customer computer being linked with said merchant computer and receiving said promotional data; and

,

d) a financial processing computer remote from said merchant computer and having means for;

1) receiving customer account data and amount data from said customer computer,

2) querying said first bank computer with said customer account data and said amount data,

3) receiving an authorization indicia from said first bank computer,

4) communicating a self-generated transaction indicia to said customer computer, and,

5) communicating the self-generated transaction indicia to said merchant computer.

2. The financial transaction system according to claim 1 wherein said financial processing computer further includes means for communicating said transaction indicia to said merchant computer and wherein said merchant computer generates a shipping order in response to said transaction indicia.

3. The financial transaction system according to claim 1 wherein said bank computer further includes deposit data indicative of amounts owed to depositors and further includes means for adjusting said credit data and said deposit data based upon said customer account number and said amount data.

4. The financial transaction system according to claim 3 further including a second bank computer and wherein said first bank computer includes means, responsive to transfer data from said financial processing computer, for adjusting deposit data in said first bank computer and in said second bank computer.

5. The financial transaction system according to claim 1 wherein said merchant computer further includes:

a) memory means containing secured data; and

,

b) means for transmitting the secured data to said customer computer in response to a password.

6. The financial transaction system according to claim 5 wherein said password and said transaction indicia are communicated to said customer computer via said merchant computer.

7. The financial transaction system according to claim 6 wherein said customer account data and said amount data are communicated to said financial processing computer via said merchant computer.

8. The financial transaction system according to claim 1 wherein the payment processing computer further includes means for connecting said customer computer, after receipt of said authorization indicia, to a merchant computer at a selected return address.

9. The financial transaction system according to claim 8 wherein the payment processing computer further includes:

a) memory means for storage of said selected return address; and

,

b) automated means for retrieving said selected return address from said memory means.

10. The financial transaction system according to claim 8 wherein the payment processing computer further includes means for identifying an originating address at a merchant computer, said originating address being the address where said customer computer had been connected to said merchant computer.

11. The financial transaction system according to claim 10 wherein said means for identifying an originating address includes means for receiving indicia indicative of said originating address via said customer computer.

12. The financial transaction system according to claim 11 further including memory means containing data indicative of amount and wherein said means for establishing an amount includes means for withdrawing from said memory means the amount based upon said originating address.

13. An automated payment processing computer comprising:

a) automated means for receiving customer account data from a customer computer;

b) automated means for establishing an amount data for a customer selected product;

c) automated means for querying a bank computer with said customer account data and said amount data and receiving an authorization indicia and payment from said bank computer; and

,

d) automated means for communicating a self-generated transaction indicia to a remote merchant computer.

14. The payment processing computer according to claim 13 further including automated means for communicating a self-generated transaction indicia to said customer computer.

15. The payment processing computer according to claim 14 further including means for adjusting deposit data in said bank computer based upon said account data and said amount data.

16. The payment processing computer according to claim 14 further including means for communicating said transaction indicia to said merchant computer.

17. The payment processing computer according to claim 13 further including automated means for connecting said customer computer, after receipt of said authorization indicia, to a merchant computer.

18. The payment processing computer according to claim 17 further including:

a) memory means for storage of a selected return address for connecting said customer computer to said merchant computer; and

,

b) automated means for retrieving said selected return address from said memory means.

19. The payment processing computer according to claim 17 further including automated means for identifying an originating address at a merchant computer where said customer computer had been connected.

20. The payment processing computer according to claim 19 wherein said means for identifying an originating address includes means for receiving indicia indicative of said originating address via said customer computer.

21. The payment processing computer according to claim 20 wherein said memory means includes data indicative of amount and wherein said means for establishing an amount includes means for withdrawing from said memory means the amount based upon said originating address.

22. An internet payment system comprising:

a) a first link between a customer computer and a vending computer for communicating promotional information from said vending computer to said customer computer;

b) a second link, initiated by said customer computer, between said customer computer and a payment processing computer, remote from said vending computer, for communicating credit card information and amount from said customer computer to said payment processing computer;

c) a third link, initiated by said payment processing computer with a credit card server computer for communicating said credit card information and said amount from said payment processing computer to said credit card server computer, and for communicating, in response, an authorization indicia from said credit card server computer to said payment processing computer; and

,

d) a fourth link between said payment processing computer and said customer computer for communicating a transactional indicia.

23. The internet payment system according to claim 22 further including a fifth link between the payment processing computer and said vending computer for communicating said transactional indicia.

24. The internet payment system according to claim 22 further including a fifth link between said customer computer and said vending computer for communicating said transactional indicia.

25. The internet payment system according to claim 24 wherein said fifth link includes means for communicating restricted access data from said vending computer to said customer computer in response to said transactional indicia.

26. The internet payment system according to claim 25 wherein said transactional indicia includes a transaction number and a password.