Method and apparatus for facilitating financial transactions within a communications system
First Claim
1. A method in a communications system for facilitating a financial transaction between a first party and a second party, comprising:
- receiving a request for the financial transactionacquiring information for the financial transaction from the two parties utilizing a common communications path including both the first and second parties and independent communications paths to each of the first and second parties; and
verifying information acquired from the first and second parties to complete the financial transaction.
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Accused Products
Abstract
A method and apparatus in a communications system for facilitating a financial transaction between two parties within the communications system. The method of the present invention is implemented in a data processing system. A request for a financial transaction is received from the first party. A call is initiated by the data processing system to the second party associated with the request. The call is established between the first party and the second party wherein the financial transaction is established between the two parties through the call. Data is acquired from the two parties in response to the establishment of the financial transaction through the call. First party information and second party information is verified, wherein the financial transaction is securely completed.
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Citations
38 Claims
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1. A method in a communications system for facilitating a financial transaction between a first party and a second party, comprising:
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receiving a request for the financial transaction acquiring information for the financial transaction from the two parties utilizing a common communications path including both the first and second parties and independent communications paths to each of the first and second parties; and verifying information acquired from the first and second parties to complete the financial transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method in a communications system for facilitating a financial transaction within the communications system, the method comprising data processing system implemented steps of:
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receiving a request for a financial transaction from a consumer; initiating call to a merchant associated with the request; establish a communications link involving the merchant and the consumer; acquiring data identifying an amount for the financial transaction utilizing the communications link; establishing a first voice path for the merchant and a second voice path for the consumer, wherein the first and second voice paths are independent, the merchant is excluded from the second voice path, and the consumer is excluded from the first voice path; acquiring and verifying merchant information using the first voice path; and acquiring and verifying consumer information using the second voice path, wherein the financial transaction is securely completed. - View Dependent Claims (19, 20)
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21. A communications system, comprising:
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a telecommunications network; a data processing system coupled to the tele-communications network processing transactions between a buyer and a seller, including; reception means for receiving a request for the financial transaction; acquisition means for acquiring data for the financial transaction from the two parties utilizing a common communications path including the buyer and the seller and first and second separate communications paths to the buyer and the seller, respectively; first verification means for verifying buyer information acquired utilizing the first voice path; and second verification means for verifying seller information acquired utilizing the second voice path. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35)
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36. A communications system, comprising:
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a network providing a plurality of communications paths; a plurality of communications units connected to the network; and a control system establishing, in response to receiving a request for a transaction, a common communications path between a data process system coupled to the network and first and second communications units connected to the network, wherein initial transaction information is transferred over the common communications path, wherein the control system, following transfer of the initial transaction information, separates the common communications paths into a first communications path to the first communications unit and a second communications path to the second communications unit, wherein the first and second communications paths are separate and mutually exclusive, and wherein first and second items of transaction information are transferred over the first and second communications paths, respectively.
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37. A switch, comprising:
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a validation database including buyer information and seller information; a routing information database; a voice server; and a switch intelligence having a plurality of modes of operation including; a first mode of operation in which the switch intelligence receives a request for the financial transaction; a second mode of operation, responsive to receiving the request, in which the switch intelligence, using the routing information database, establishes a call including the buyer and the seller, wherein the financial transaction is initiated between the two parties and data is acquired from the two parties through the call; a third mode of operation, responsive to detecting initiation of the financial transaction, in which the switch intelligence acquires data for the financial transaction from the two parties utilizing separate, mutually exclusive voice links to each respective party, the separate, mutually exclusive voice links including a first voice path for the buyer and a second voice path for the seller, the switch intelligence using the voice server to provide the first and second voice paths; and a fifth mode of operation, responsive to establishing the first and second voice paths and acquiring data for the financial transaction from the two parties, in which the switch intelligence verifies buyer information acquired using the first voice path and verifies seller information acquired using the second voice path using the validation database.
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38. A computer program product for facilitating a financial transaction between a seller and a buyer, comprising:
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a computer usable medium; first instructions for receiving a request for the financial transaction; second instructions for acquiring data for the financial transaction from the two parties utilizing a common communications link including both parties and separate and mutually exclusive communications links to each of the two parties, the separate communications links including a first voice path for the buyer and a second voice path for the seller; third instructions for verifying buyer information acquired using the first voice path; and fourth instructions for verifying seller information acquired using the second voice path, wherein the instructions are embodied within the computer usable medium.
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Specification