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System and method for conversion of initial transaction to final transaction

  • US 7,702,577 B1
  • Filed: 10/29/2004
  • Issued: 04/20/2010
  • Est. Priority Date: 11/06/2003
  • Status: Active Grant
First Claim
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1. A computer implemented method for converting an initial financial transaction to a final financial transaction, the computer comprising a processor and a memory, the method comprising:

  • receiving a communication from a purchaser remotely contacting a merchant for the purpose of purchasing goods or services;

    conducting a card not present (CNP) transaction using a first card instrument of the purchaser to pay for selected goods or services;

    providing a point of authorization (POA) device for the purchaser bearing a second card instrument subsequent to the CNP transaction;

    reading the second card instrument at the POA device; and

    the processor converting the CNP transaction from the first card instrument to a card present (CP) transaction from the second card instrument.

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