Systems and methods for facilitating commercial transactions between parties residing at remote locations
First Claim
1. A method for using a financial account issuer server to facilitate a transaction, the method comprising:
- sending, to the financial account issuer server, a first application for a first financial account from a first party, wherein the financial account issuer server is a processing engine and, wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party;
wherein the first financial account for the first party is created by the financial account issuer server in response to approving the first application and a registration of the first party to participate in the transaction management is created by the financial account issuer server in response to approving the first application, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party, wherein the first party is determined by the financial account issuer server to be eligible for obtaining the first financial account based on first party credit information relating to the first party, wherein first party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or a third party, wherein the first party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of first party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the first financial account identifier is transmitted to the first party by the financial account issuer server;
wherein a second application is received the financial account issuer server for a second financial account from a second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and a second party, wherein the second financial account for the second party is created by the financial account issuer server in response to approving the second application and a registration of the second party to participate in the transaction management is created by the financial account issuer server in response to approving the second application, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party, wherein the second party is determined by the financial account issuer server to be eligible for obtaining the second financial account based on second party credit information relating to the second party, wherein second party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or the third party, wherein the second party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of second party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the second financial account identifier is transmitted to the second party by the financial account issuer server;
sending, to the financial account issuer server, a request associated with the transaction management to debit a first amount from the first financial account having the first financial account identifier, wherein the financial account issuer server verifies that the first financial account can satisfy the request to debit;
wherein the financial account issuer server determines if the request to debit the first financial account is not fraudulent based upon a fraud analysis routine, and wherein the financial account issuer server debits the first amount from the first financial account if the request to debit the first financial account is not fraudulent; and
sending, to the financial account issuer server, a request associated with the transaction management to credit at least a portion of the first amount to the second financial account having the second financial account identifier, wherein the financial account issuer server determines if the request to credit the second financial account is not fraudulent based upon the fraud analysis routine, and wherein the financial account issuer server credits at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.
5 Assignments
0 Petitions
Accused Products
Abstract
The present invention provides a system and method for facilitating commercial transactions involving the exchange of monetary value for goods, services, or other value between remote individuals, as in the case of transactions between users of a distributed computer network such as the Internet. Remote individuals are provided with a convenient, cost-efficient, and secure means for engaging in commercial transactions with one another. The invention provides remote sellers with an irrevocable means of receiving funds from a remote purchaser; means for improving purchaser willingness to transact with an unknown party; transaction tracking; and rapid funds availability. The invention also provides remote purchasers with means for making a secure, confidential transfer of funds; means for immediate initiation of shipment by a seller; means for releasing funds to a seller only after approval of the goods, services, or other value; means for demonstrating proof of payment; and means for having some level of recourse against a remote seller.
76 Citations
20 Claims
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1. A method for using a financial account issuer server to facilitate a transaction, the method comprising:
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sending, to the financial account issuer server, a first application for a first financial account from a first party, wherein the financial account issuer server is a processing engine and, wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party; wherein the first financial account for the first party is created by the financial account issuer server in response to approving the first application and a registration of the first party to participate in the transaction management is created by the financial account issuer server in response to approving the first application, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party, wherein the first party is determined by the financial account issuer server to be eligible for obtaining the first financial account based on first party credit information relating to the first party, wherein first party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or a third party, wherein the first party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of first party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the first financial account identifier is transmitted to the first party by the financial account issuer server; wherein a second application is received the financial account issuer server for a second financial account from a second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and a second party, wherein the second financial account for the second party is created by the financial account issuer server in response to approving the second application and a registration of the second party to participate in the transaction management is created by the financial account issuer server in response to approving the second application, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party, wherein the second party is determined by the financial account issuer server to be eligible for obtaining the second financial account based on second party credit information relating to the second party, wherein second party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or the third party, wherein the second party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of second party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the second financial account identifier is transmitted to the second party by the financial account issuer server; sending, to the financial account issuer server, a request associated with the transaction management to debit a first amount from the first financial account having the first financial account identifier, wherein the financial account issuer server verifies that the first financial account can satisfy the request to debit; wherein the financial account issuer server determines if the request to debit the first financial account is not fraudulent based upon a fraud analysis routine, and wherein the financial account issuer server debits the first amount from the first financial account if the request to debit the first financial account is not fraudulent; and sending, to the financial account issuer server, a request associated with the transaction management to credit at least a portion of the first amount to the second financial account having the second financial account identifier, wherein the financial account issuer server determines if the request to credit the second financial account is not fraudulent based upon the fraud analysis routine, and wherein the financial account issuer server credits at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A system having a processor and a memory and comprising a first computing device and a second computing device, wherein the second computing device is a financial account issuer server, the system configured to:
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send, by the first computing device and to the financial account issuer server, a first application for a first financial account from a first party, wherein the financial account issuer server is a processing engine and, wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party; wherein the financial account issuer server communicates with the first computing device, and wherein the first financial account for the first party is created by the financial account issuer server in response to approving the first application and a registration of the first party to participate in the transaction management is created by the financial account issuer server in response to approving the first application, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party, wherein the first party is determined by the financial account issuer server to be eligible for obtaining the first financial account based on first party credit information relating to the first party, wherein first party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or a third party, wherein the first party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of first party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the first financial account identifier is transmitted to the first party by the financial account issuer server; wherein a second application is received the financial account issuer server for a second financial account from a second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and a second party, wherein the second financial account for the second party is created by the financial account issuer server in response to approving the second application and a registration of the second party to participate in the transaction management is created by the financial account issuer server in response to approving the second application, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party, wherein the second party is determined by the financial account issuer server to be eligible for obtaining the second financial account based on second party credit information relating to the second party, wherein second party credit information is obtained by the financial account issuer server from at least one of the financial account issuer server or the third party, wherein the second party is determined by the financial account issuer server to be eligible to participate in the transaction management based on a fraud risk analysis of second party fraud risk information obtained from at least one of the financial account issuer server or the third party, and wherein the second financial account identifier is transmitted to the second party by the financial account issuer server; send, by the first computing device and to the financial account issuer server, a request associated with the transaction management to debit a first amount from the first financial account having the first financial account identifier, wherein the financial account issuer server verifies that the first financial account can satisfy the request to debit; wherein the financial account issuer server determines if the request to debit the first financial account is not fraudulent based upon a fraud analysis routine, and wherein the financial account issuer server debits the first amount from the first financial account if the request to debit the first financial account is not fraudulent; and send, by the first computing device and to the financial account issuer server, a request associated with the transaction management to credit at least a portion of the first amount to the second financial account having the second financial account identifier, wherein the financial account issuer server determines if the request to credit the second financial account is not fraudulent based upon the fraud analysis routine, and wherein the financial account issuer server credits at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent. - View Dependent Claims (20)
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Specification