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Secure and efficient payment processing system

  • US 7,742,967 B1
  • Filed: 01/20/2000
  • Issued: 06/22/2010
  • Est. Priority Date: 10/01/1999
  • Status: Expired due to Fees
First Claim
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1. A method of processing a transaction carried out over a network between a financial account holder and a participating entity, said method comprising the steps of:

  • (a) receiving a purchase request of a buyer from the participating entity indicating that the buyer desires to carry out a transaction with the entity, said transaction including the buyer purchasing one or more selected items;

    (b) authenticating the buyer as the financial account holder;

    (c) establishing transaction fulfillment data, said transaction fulfillment data indicating a delivery destination for the selected items, wherein establishing the transaction fulfillment data includes using a previously obtained destination as the delivery destination for the selected items when an alternate destination is not obtained;

    (d) communicating the transaction fulfillment data to the participating entity;

    (e) receiving transaction details from the participating entity, said transaction details including a cost for the selected items;

    (f) authorizing, via a processor, completion of the transaction and establishing an authorization code therefor; and

    ,(g) communicating the authorization code for the transaction to the participating entity.

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