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Method and apparatus for making secure electronic payments

  • US 6,938,019 B1
  • Filed: 08/29/2000
  • Issued: 08/30/2005
  • Est. Priority Date: 08/29/2000
  • Status: Expired due to Term
First Claim
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1. A method of performing at least one transaction between a consumer from a plurality of consumers and a merchant from a plurality of merchants, the plurality of consumers and the plurality of merchants utilizing computing devices connected to a network, said method comprising the steps of:

  • providing a token to at least one clearing server during a transaction with a merchant, the token having an indicated value;

    communicating a request for an update key to said at least one clearing server during the transaction with the merchant;

    ascertaining, during the transaction with the merchant, an amount paid by the consumer to a previous merchant by polling the previous merchant to obtain the amount, the previous merchant being an entity distinct from the clearing server;

    verifying the value of the token utilizing the ascertained amount paid by the consumer to the previous merchant;

    providing said update key, said update key being used as an authorization to modify the value of said token.

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