Transaction processing system

• US 7,447,662 B2
• Filed: 07/10/2001
• Issued: 11/04/2008
• Est. Priority Date: 07/10/2000
• Status: Expired due to Fees

• Current Assignee: VETT Limited
• Original Assignee: VETT Limited
• Inventors: Gibson, Garry H.
• Primary Examiner(s): Rosen; Nicholas D
• Application Number:
  US10/332,468
• Publication Number:
  US 20040030607A1
• Time in Patent Office: 2,674 Days
• Field of Search: 705/64, 705/75, 705/77, 705/78
• US Class Current: 705/75
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/0855 involving a third party
• 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 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4093 Monitoring of device authentication
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A method of operating a transaction processing system (19) for confirming orders placed over a public data network (1), comprising: receiving first order references from a number of different merchant sites (7) via first data communication paths; receiving payment data and second order references from a number of customers via second communication paths different from said first communication path; and matching said first and second order references and settling payments.

Claims

1. A method of operating a transaction processing system enabling users to authorize transactions, said system comprising a transaction processing system having at least a first data communications interface and a second data communications interface, comprising:

receiving transaction data from an offering party, relating to a specific transaction to be authorized by a user, and receiving a first transaction reference relating to and uniquely identifying said specific transaction via a first data communication path, at said first data communications interface;

generating a second transaction reference which is different from the first transaction reference and which uniquely identifies the transaction within the transaction processing system;

sending said second transaction reference to the offering party but not to the user;

after receiving said transaction data,

conducting communications over a second data communication path, different from said first data communication path, with said user over said second data communications interface;

using said second path, conducting a secure access procedure in which authentication data is received and said authentication data is verified;

using said second path, receiving said first transaction reference relating to and uniquely identifying said specific transaction from said user, said first transaction reference not being previously transmitted to said user in said second communication path;

using said second path, receiving confirmation from said user; and

in response to said confirmation, transmitting an authorization signal to authorize said transaction, said authorization signal including said second transaction reference.

2. A method according to claim 1, wherein the communication via the second communication path is initiated by the user.

3. A method according to claim 1, wherein said transaction data includes payment data and, in response to said authorization signal, payment is electronically settled from an account facility provided by a financial institution.

4. A method according to claim 3,

wherein payment is electronically settled to an account facility arranged to be only capable of receiving funds from, and not transmitting funds to, third parties.

5. A method according to claim 1, comprising transmitting said first transaction reference to a user in an electronic message.

6. A method according to claim 5, wherein said electronic message is transmitted to the user via a third data communications interface, and not said first and second data communications interface.

7. A method according to claim 5, comprising an offering party system generating said message without opening a customer account for the user on the offering party system.

8. A method according to claim 1, wherein said second communication path comprises a voice telephony connection, said second data communications interface comprising an interactive voice response unit.

9. A method according to claim 1, further comprising transmitting at least some of said transaction data to said user over said second path prior to receiving said confirmation.

10. A method according to claim 1, comprising using a first data processing system to receive said transaction data from a transacting party data processing system.

11. A method according to claim 10, wherein said first data processing system stores said transaction data in a database referenced using said second transaction reference which is different from the first transaction reference received from the user.

12. A method according to claim 10, wherein said transaction processing system comprises a plurality of second data processing systems, said second path being established with a selected one of said second data processing systems by the user.

13. A method according to claim 1, further comprising disabling transaction data relating to a transaction which is not authorized by a user within a selected time period.

14. A method according to claim 1, further comprising monitoring orders and order confirmations and transmitting a message to a transacting party in response to said monitoring when no user confirmation has been received.

15. A method according to claim 14, wherein said messages contain at least one of the following:

(i) reminder of outstanding transactions;

(ii) promotional messages relating to outstanding transactions.

16. A method according to claim 1, further comprising receiving tax-relevant data in said transaction data and settling taxes relating to said orders on behalf of a transacting party.

17. A method according to claim 1, comprising authorizing transactions on behalf of a plurality of transacting parties providing offers of transactions and a plurality of users accepting said offers and authorizing payment using the system.

18. A method of operating a transaction system in communication with a transaction processing system serving a plurality of different similar transaction systems, said method comprising:

receiving transaction data from a number of customers;

storing said transaction data in a record holding said transaction data as a pending transaction;

generating first transaction references for referencing said transaction data;

notifying said first transaction references to a transaction processing system;

transmitting the same first transaction references to said customers; and

authorizing a transaction corresponding to a particular set of said transaction data in response to said transaction processing system confirming the customer having authorized the transaction;

wherein confirmation of any particular transaction is confirmed by receiving a signal including a second transaction reference different from the first transaction reference sent to the corresponding customer from said transaction processing system, said second transaction reference uniquely identifying the transaction within the transaction processing system and remaining unknown to the customer.