System for handling network transactions

• US 7,581,257 B1
• Filed: 05/25/2000
• Issued: 08/25/2009
• Est. Priority Date: 05/25/1999
• Status: Expired due to Fees

• Current Assignee: Safepay Australia Pty. Limited
• Original Assignee: Safepay Australia Pty. Limited
• Inventors: O'Hara, John
• Primary Examiner(s): RUDY, ANDREW J
• Application Number:
  US09/979,767
• Time in Patent Office: 3,379 Days
• Field of Search: 705/18, 705/26, 705/39, 705/75, 902/2, 902/24, 340/5.4, 340/5.41
• US Class Current: 705/75
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

The present invention relates to a method of enabling a computer network transaction for a product being purchased by a buyer from a seller by generating a once-only transaction feature associated with the transaction, by providing the transaction identification feature to a transaction acquirer, together with a buyer identification feature which identifies the buyer to the transaction acquirer, and by providing the once-only identification feature to the seller, such that the seller may provide the transaction identification feature to the transaction acquirer and the transaction acquirer can match the transaction identification feature received from the seller with the transaction identification feature they have been provided with and, if they match, can enable settlement of the transaction.

Claims

1. A method for ensuring the security of a desired transaction over a computer network for a product being purchased by a buyer from a seller, comprising the steps of:

a transaction acquirer computer system generating, in response to a transaction request from a buyer computer system of the buyer received through the computer network, a randomly generated once-only alphanumeric transaction identification number associated with the desired transaction,

the transaction acquirer computer system storing the transaction identification number and information regarding the transaction request in a database stored in a storage unit associated with the transaction acquirer computer system,

providing the transaction identification number to a seller computer system of the seller through the computer network,

wherein, to complete the transaction, the seller provides the received transaction identification number to the transaction acquirer computer system, and the transaction acquirer computer system verifies the received transaction identification number by comparing the transaction identification number received from the seller with the transaction identification number stored in the database associated with the transaction acquirer computer system, and, if they match, provide instructions to facilitate access to the buyer account to settle the transaction and disabling the transaction identification number stored in the database, such that the transaction identification number cannot be used to conduct another transaction, thereby providing a secure transaction over the computer network.

2. A method in accordance with claim 1, comprising a further step of determining whether a buyer has sufficient credit in a buyer account to settle the transaction, and only if there is sufficient credit then generating once-only transaction identification number.

3. A method in accordance with claim 1, wherein the step of generating the transaction identification number includes the step of generating the once-only transaction identification number in response to the buyer computer system of the buyer indicating a wish to proceed with the transaction.

4. A method in accordance with claim 2, wherein the step of generating the transaction identification number includes the step of generating the once-only transaction identification number in response to the computer system of the buyer indicating a wish to proceed with the transaction.

5. A method in accordance with claim 1, including the further steps of the seller providing the transaction identification number to the transaction acquirer computer system and the transaction acquirer computer system matching the transaction identification number received from the seller with the transaction identification number they have been provided with, and enabling settlement of the transaction if they match.

6. A method in accordance claim 1, wherein the information regarding the transaction request is a payment amount for the product.

7. A method in accordance with claim 1, wherein the information regarding the transaction request is a PIN or password.

8. A method in accordance with claim 2, wherein the information regarding the transaction request is a PIN or password.

9. A method in accordance with claim 3, wherein the information regarding the transaction request is a PIN or password.

10. A method in accordance with claim 4, wherein the information regarding the transaction request is a PIN or password.

11. A method in accordance with claim 5 wherein the information regarding the transaction request is a PIN or password.

12. A method in accordance with claim 6, wherein the information regarding the transaction request is a PIN or password.