System and method for on-line purchasing of goods and services
First Claim
1. A method of conducting a financial transaction between a purchaser and a vendor of a product, the method comprising the steps of:
- providing a computerized banking system comprising a plurality of financial institutions;
each of said plurality of financial institutions comprising a computer centre comprising a plurality of computer based client accounts, an electronic data network interconnecting said computer centres; and
a plurality of data exchange terminals connected to said network;
providing at least one vendor database including product related information connected to the said network;
providing product-related information to the purchaser via one of said terminals;
communicating to the vendor database via the network product related information regarding a product required by the purchaser and which information is provided by the purchaser via one of said terminals; and
initiating payment by the purchaser for the product in an amount equal to the value of the transaction.
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Accused Products
Abstract
A method of conducting a financial transaction between a purchaser and a vendor of a product, the purchaser and the vendor each having an account held at respective first (A) and second (B) financial institutions. The method requires the provision of at least one vendor database 24 including product-related information, for example regarding the availability and price of a product. A publicly accessible data exchange terminal, typically an automatic teller machine (ATM) 112, is linked to the vendor database. The system then interrogates the purchaser to obtain transaction-related information via the terminal by requiring the purchaser to indicate a number of transaction options. The terminal is linked to the first financial and second financial institutions to provide access to the purchaser'"'"'s and vendor'"'"'s accounts. The system then transfers funds electronically between accounts for the value of the transaction. Of course, the first and second financial institutions may be the same financial institution.
256 Citations
32 Claims
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1. A method of conducting a financial transaction between a purchaser and a vendor of a product, the method comprising the steps of:
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providing a computerized banking system comprising a plurality of financial institutions;
each of said plurality of financial institutions comprising a computer centre comprising a plurality of computer based client accounts, an electronic data network interconnecting said computer centres; and
a plurality of data exchange terminals connected to said network;
providing at least one vendor database including product related information connected to the said network;
providing product-related information to the purchaser via one of said terminals;
communicating to the vendor database via the network product related information regarding a product required by the purchaser and which information is provided by the purchaser via one of said terminals; and
initiating payment by the purchaser for the product in an amount equal to the value of the transaction. - View Dependent Claims (2, 3, 4, 14, 15)
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5. A method of conducting a financial transaction between a purchaser and a vendor of a product, the purchaser and the vendor being associated with respective first and second accounts held at respective first and second financial institutions, the method comprising the steps of:
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providing at least one vendor database including product-related information;
linking a data exchange terminal to the at least one vendor database via a data network linking said first and second financial institutions;
obtaining transaction-related information regarding a product required from the purchaser via the terminal;
communicating the transaction-related information via the network to the vendor database; and
initiating an electronic transfer of funds from the first account to the second account for the value of the transaction. - View Dependent Claims (6, 7, 8, 9, 10, 11, 12, 13)
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16. A system for conducting a financial transaction between a purchaser and a vendor of products, the system comprising:
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a computerized banking system comprising;
plurality of financial institutions;
each of said plurality of financial institutions comprising a computer centre comprising a plurality of computer based client accounts;
said computer centres being interconnected by an electronic data network;
a plurality of data exchange terminals connected to said electronic data network;
at least one vendor database comprising product related information connected to said network; and
system software providing, via the network, communication of the product related information between said plurality of terminals and said at least one vendor database, and for initiating payment by the purchaser for products purchased from said vendor database. - View Dependent Claims (17, 18)
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19. A system for conducting a financial transaction between a purchaser and a vendor of a product, the purchaser and the vendor being associated with respective first and second accounts held at respective first and second financial institutions, the system comprising:
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a data exchange terminal including data input and output means;
at least one vendor database including product-related information;
communication means for linking the terminal to the at least one vendor database, the first financial institution and the second financial institution; and
system software providing communication of product-related information of a transaction between the terminal and the at least one vendor database, and for transferring funds electronically between the first and second accounts for the value of the transaction. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31)
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32. A system for conducting a financial transaction between a purchaser and a vendor of products, the system comprising;
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an electronic data network including a plurality of bank service terminals for use by a purchaser;
at least one vendor database comprising product related information connected to said electronic data network and accessible from said terminals; and
system software providing communication of product related information between said terminals and said at least one vendor database and for initiating payment by the purchaser through said electronic data network for products purchased.
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Specification