Financial system of computers

• US 5,963,917 A
• Filed: 10/05/1998
• Issued: 10/05/1999
• 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:
  US09/166,749
• Time in Patent Office: 365 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: 705/26.41
• 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 computer network;

b) a phone network;

c) a merchant computer containing promotional data, said merchant computer having automatic means for communicating said promotional data via said computer network to a remote computer;

d) a customer computer being linked via said computer network with said merchant computer and receiving said promotional data, said customer computer having automatic means responsive to input from an operator, for initiating an order;

d) a bank computer; and

,

e) a financial processing computer, remote from said merchant computer having automatic means responsive to said order for;

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

2) communicating said customer amount data and said amount data to said bank computer via said Phone network,

3) receiving an authorization indicia from said bank computer via the phone network, and,

4) via said computer network, communicating

A) a representation of said authorization indicia to said customer computer, and,

B) a representation of said authorization indicia to said merchant computer.

2. The financial transaction system according to claim 1, wherein said merchant computer further including automatic means for generating a shipping order in response to said representation of said authorization indicia.

3. The financial transaction system according to claim 1,

a) wherein said financial processing computer further including automatic means for communicating a password to said customer computer;

and,

b) wherein said merchant computer further includes;

1) memory means containing secured data, and,

2) automatic means for transmitting the secured data to said customer computer in response to the password.

4. The financial transaction system according to claim 3, wherein said password and said representation of said authorization indicia are communicated to said customer computer via said merchant computer.

5. A financial transaction system comprising:

a) a merchant computer containing promotional data said merchant computer having automatic means for communicating said promotional data via a computer network to a remote computer; and

,

b) a financial processing computer, remote from said merchant computer, said financial processing computer having automatic means for;

1) receiving customer account data and amount data via said computer network,

2) obtaining an authorization indicia via a phone network, and,

3) via said computer network, communicating a representation of said authorization indicia to a remote computer.

6. The financial transaction system according to claim 5, wherein said merchant computer further includes automatic means for generating a shipping order in response to said representation of said authorization indicia.

7. The financial transaction system according to claim 5,

a) wherein said financial processing computer further includes automatic means for communicating a password to said customer computer;

and,

b) wherein said merchant computer further includes;

1) memory means containing secured data, and,

2) automatic means for transmitting the secured data to said customer computer in response to the password.