Automatic electronic funds transfer system and method
First Claim
1. A system for automatically conducting a business transaction between a user and a trader including:
- a trader terminal including billing information representative of said trader;
a user terminal;
a local communications link provided between said user terminal and said trader terminal;
wherein an order for goods and/or services of the trader is initiated by transmitting a data request for billing information over said link, using a message protocol, from said user terminal to be received by said trader terminal;
said user terminal receiving and processing user information representative of said user, and receiving and processing said billing information via said link in response to said request; and
a communications network having links independent of the local communication link enabling said user terminal to communicate with a service provider;
wherein said user terminal transmits said billing information and said user information to said service provider as the order over said communications network, whereupon said service provider automatically facilitates transfers funds of said user to said trader under the authorization of said user to effect a financial transaction between said user and said trader and ordering of the goods and/or services.
1 Assignment
0 Petitions
Accused Products
Abstract
A method and system for automatically conducting a business transaction between a user and a trader, including the functions of ordering, financial transaction, delivery initiation and data management. A trader terminal (170) includes billing information (200) representative of the trader and a user terminal (100) or user card (800) is used to receive and process the billing information (200) over a local communications link (300). The user terminal (100) or user card (800) includes user information representative of the user. The user information and billing information is transmitted by the user terminal (100) to a service provider (500) over a communications network (400) whereupon the service provider (500) automatically transfers funds of the user, which may be reserved funds, to the trader upon entry of a PIN by the user on the user terminal (100). Delivery destination information and information identifying the goods and/or services purchased by the user may be transmitted to the service provider (500) and to an electronic warehouse (900).
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Citations
58 Claims
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1. A system for automatically conducting a business transaction between a user and a trader including:
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a trader terminal including billing information representative of said trader; a user terminal; a local communications link provided between said user terminal and said trader terminal; wherein an order for goods and/or services of the trader is initiated by transmitting a data request for billing information over said link, using a message protocol, from said user terminal to be received by said trader terminal; said user terminal receiving and processing user information representative of said user, and receiving and processing said billing information via said link in response to said request; and a communications network having links independent of the local communication link enabling said user terminal to communicate with a service provider; wherein said user terminal transmits said billing information and said user information to said service provider as the order over said communications network, whereupon said service provider automatically facilitates transfers funds of said user to said trader under the authorization of said user to effect a financial transaction between said user and said trader and ordering of the goods and/or services. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
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37. A method of automatically conducting a business transaction between a user and a trader, said method comprising the steps of:
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providing a local communication link between a user terminal and a trader terminal; transmitting over said link a request for billing information by said user for goods and/or services of said trader using said user terminal; receiving said request at said trader terminal; wherein said request is transmitted and received using a messaging protocol; receiving by said user terminal, trader billing information representative of said trader from said trader terminal via said link, processing on said user terminal said trader billing information and user information representative of said user, transmitting said trader billing information as an order for goods and/or services and said user information to a service provider over a communications network independent of the local communication link, and automatically facilitating transferring funds of said user to said trader via said service provider under the authorization of said user to effect a financial transaction between said user and said trader. - View Dependent Claims (38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58)
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Specification