Secure authentication and payment system

• US 8,346,659 B1
• Filed: 02/26/2003
• Issued: 01/01/2013
• Est. Priority Date: 07/06/2001
• Status: Active Grant

• Current Assignee: Aliaswire, Inc.
• Original Assignee: Hossein Mohsenzadeh
• Inventors: Mohsenzadeh, Hossein
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US10/375,501
• Time in Patent Office: 3,597 Days
• Field of Search: 705/35, 705/36.R, 705/39, 705/37
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/305 using wired telephone networks
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• 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 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 30/0241 Advertisements
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]

Abstract

A transaction and payment and processing system securely conducts transactions over the public telephone network. The transactions may be between and among entities of any type such as individuals, merchants, utilities, banks, etc. Nothing more than access to a telephone is required after initial registration of a user.

Claims

1. A method of conducting a financial transaction between an originator and a target, comprising:

authenticating that the originator is authorized to conduct the said financial transaction based on credentials previously stored in an authorized user database;

receiving at a server one or more messages that include at least an alias and a payment amount;

retrieving target financial account information previously stored from a database based on the said alias;

providing instructions to transfer the payment amount from an originator financial account to a target financial account by the server based on target financial account information identified by the alias.

2. The method of claim 1, further comprising:

receiving target financial account information;

storing and linking the target financial account information to the alias in the database.

3. The method of claim 2, wherein the alias, payment amount, and target financial account information are received at a server in one or more messages.

4. The method of claim 3, wherein the one or more messages are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone, an ATM machine or combination thereof.

5. The method of claim 3 wherein one or more messages is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, a system message, a peer to peer message, computer originated message, or a combination thereof.

6. The method of claim 1, further comprising the target approving the transfer from the originator financial account to the target financial account.

7. The method of claim 1 wherein the server providing instructions to transfer the payment amount is performed at a substantially same time as the originator initiating the financial transaction.

8. The method of claim 1 wherein the server providing instructions to transfer the payment amount is performed at a time subsequent to the originator initiating the financial transaction.

9. The method of claim 1 wherein the providing instructions are responsive to the financial transaction initiated at an earlier time.

10. The method of claim 1 wherein the financial transaction forms part of a second financial transaction in which a party directs the server to transfer a financial asset from a trust account.

11. The method of claim 1, wherein the originator financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, a prepaid card account, a line of credit account, and an electronic financial account.

12. The method of claim 1, wherein the target financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, prepaid card account, a line of credit account and an electronic financial account.

13. The method of claim 1, wherein the target financial account information is selected from the group consisting of bank account number and bank routing information, a credit card account information, a debit card account information, a prepaid card account information and a financial account routing and settlement information.

14. The method of claim 1, wherein the target financial account information is used for routing and settling of the transfer to the target financial account.

15. The method of claim 1, wherein the transferring of the payment amount is cleared through an entity selected from a group consisting of inter-Facilitator transfer, an Electronic Funds Transfer network, a credit card network, a debit card network, a wire transfer network, an ATM network, an electronic check processing network, Automated Clearing House network and combination thereof.

16. The method of claim 1, wherein the transfer of the payment amount includes providing instructions to debit the originator financial account and to credit the target financial account.

17. The method of claim 16, wherein the debit from the originator financial account occurs in a first time period and the credit to the target financial account occurs at a second time period.

18. The method of claim 1, wherein the server is operated by an entity that is selected from the group consisting of a Facilitator, payment processor, one or more financial institutions, and one or more payment networks.

19. The method of claim 1, wherein the alias is selected from the group consisting of an email address, telephone number, mobile telephone number, mobile device number, and a landline telephone number.

20. The method of claim 1, wherein the alias is an email address.

21. The method of claim 1, wherein the alias is a telephone number.

22. The method of claim 1, further comprising sending the originator a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

23. The method of claim 1, further comprising sending the target a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

24. The method of claim 1, wherein the credentials is selected from the group consisting of a user name, password, personal identification number (PIN), additional personal identification information or a combination thereof.

25. The method of claim 1 wherein the financial transaction selected from the group consisting of a person to person payment transaction, person to entity payment transaction, entity to person payment transaction, entity to entity payment transaction.

26. The method of claim 25, wherein entity is selected from the group consisting of an individual person, for-profit company, non-profit organization, government entity or combination thereof.

27. The method of claim 1, wherein the transfer includes debiting and crediting of one or more intermediary accounts.

28. The method of claim 1, wherein the transfer includes debiting the payment amount from the originator financial account.

29. The method of claim 1, wherein the transfer includes crediting the payment amount to the target financial account.

30. The method of claim 1, wherein the one or more messages including the alias and payment amount are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

34. The method of claim 2, wherein the storing and linking target financial account information to the previously stored alias is approved by the target.

101. The method of claim 1, wherein the database that the target financial account information is stored is the same as the authorized user database.

31. A method of conducting financial transactions, comprising:

sending a message to a target from a server, wherein the message provides instructions for the target to access the server to receive payment for a first transaction;

receiving an alias, a transaction identifier, and a target financial account information at a server;

authenticating by matching the received alias and received transaction identifier with a stored alias and a stored transaction identifier stored in a database, providing instructions by the server to transfer a payment amount from an originator financial account to a target financial account based on the target financial account information.

32. The method of claim 31, further comprising storing and linking the target financial account information to the stored alias in the database.

33. The method of claim 32, wherein the storing and linking target financial account information to the stored alias is approved by the target.

35. The method of claim 31, further comprising the target approving the transfer.

36. The method of claim 31, wherein the originator financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, a prepaid card account, a line of credit account, and an electronic financial account.

37. The method of claim 31, wherein the target financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, prepaid card account, a line of credit account and an electronic financial account.

38. The method of claim 31, wherein the target financial account information is selected from the group consisting of bank account number and bank routing information, a credit card account information, a debit card account information, a prepaid card account information and financial account routing and settlement information.

39. The method of claim 31, wherein the target financial account information is used for routing and settling of the transfer to the target financial account.

40. The method of claim 31, wherein the transferring of the payment amount is cleared through an entity selected from a group consisting of inter-Facilitator transfer, an Electronic Funds Transfer network, a credit card network, a debit card network, a wire transfer network, an ATM network, an electronic check processing network, Automated Clearing House network and combination thereof.

41. The method of claim 31, wherein the received alias, received transaction identifier, and target financial account information are received at a server in one or more messages.

42. The method of claim 41 wherein one or more messages is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, system message, a peer to peer message, computer originated message, or a combination thereof.

43. The method of claim 41, wherein the one or more messages are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone, an ATM machine or a combination thereof.

44. The method of claim 31, wherein the transfer of the payment amount includes providing instructions to debit the originator financial account and to credit the target financial account.

45. The method of claim 44, wherein the debit from the originator financial account occurs in a first time period and the credit to the target financial account occurs at a second time period.

46. The method of claim 31, wherein the server is operated by an entity that is selected from the group consisting of a Facilitator, payment processor, one or more financial institutions, and one or more payment networks.

47. The method of claim 31, wherein the stored alias is selected from the group consisting of an email address, telephone number, mobile telephone number, mobile device number, and a landline telephone number.

48. The method of claim 31, wherein the stored alias is an email address.

49. The method of claim 31, wherein the stored alias is a telephone number.

50. The method of claim 31, further comprising sending an originator a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

51. The method of claim 31, further comprising sending the target a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

52. The method of claim 31 wherein the financial transaction selected from the group consisting of a person to person payment transaction, person to entity payment transaction, entity to person payment transaction, entity to entity payment transaction.

53. The method of claim 52, wherein entity is selected from the group consisting of an individual person, for-profit company, non-profit organization, government entity or combination thereof.

54. The method of claim 31, further comprising:

receiving the alias and a subsequent payment amount for a subsequent transaction at a server;

retrieving target financial account information based on the second alias from the database;

providing instructions by the server to transfer the subsequent payment amount from originator financial account to target financial account based on the target financial account information.

55. The method of claim 54, wherein the subsequent transaction is between a subsequent originator and the target.

56. The method of claim 31, wherein the first transaction is between a first originator and the target.

57. The method of claim 31, wherein the stored transaction identifier is selected from the group consisting of an email address, a telephone number a numeric string an alphanumeric string, hash identifier, coded URL, coded string, or combination thereof.

58. The method of claim 31, wherein the first transaction identifier is embedded in a coded uniform resource locator (URL).

59. The method of claim 31, wherein the stored alias provides financial account confidentiality to the target.

60. The method of claim 31, wherein the previously stored transaction identifier is provided by the originator to the server.

61. The method of claim 31, wherein the previously stored transaction identifier is automatically generated by the server.

62. The method of claim 31, wherein the transfer includes debiting and crediting of one or more intermediary accounts.

63. The method of claim 31, further comprising receiving at the server the alias and a payment amount in one or more messages.

64. The method of claim 63, wherein the one or more messages including the alias and payment amount are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

65. The method of claim 31, wherein the transaction identifier expires after a preconfigured period of time.

66. The method of claim 31, wherein the transaction identifier is provided by the originator to the server.

67. The method of claim 31, wherein the transaction identifier is automatically generated by the server.

68. The method of claim 31, wherein the received transaction identifier is embedded in a coded uniform resource locator (URL).

69. The method of claim 31, wherein the transfer includes debiting the payment amount from the originator financial account.

70. The method of claim 31, wherein the transfer includes crediting the payment amount to the target financial account.

71. A method of conducting financial transactions, comprising:

sending a message to a target from a server using a first alias, wherein the message provides instructions for the target to access the server to receive a payment amount, the message includes a first transaction identifier for a first transaction;

receiving, at the server, at least a second alias, and a second transaction identifier for the first transaction;

searching for a previously stored first alias and a previously stored first transaction identifier in a database based a second alias, and a second transaction identifier;

authenticating by matching the second alias and second transaction identifier with the previously stored first alias and the previously stored first transaction identifier.

72. The method of claim 71, further comprising receiving at the server the first alias and a payment amount in one or more message.

73. The method of claim 72, wherein one or more messages including first alias and payment amount is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, a system message, computer originated message, a peer to peer message, or a combination thereof.

74. The method of claim 72, wherein the one or more messages including the first alias and payment amount are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

75. The method of claim 71, further comprising receiving, at the server, target financial account information.

76. The method of claim 75, further comprising storing and linking target financial account information to the first alias in the database.

77. The method of claim 76, further comprising:

receiving the first alias and a subsequent payment amount for a subsequent transaction at a server;

retrieving target financial account information based on the received first alias from the database;

providing instructions to transfer the subsequent payment amount from an originator financial account to a target financial account based on the stored target financial account information.

78. The method of claim 77, wherein the subsequent transaction is between a subsequent originator and the target.

79. The method of claim 76, wherein the storing and linking target financial account information to the previously stored first alias is approved by the target.

80. The method of claim 75, further comprising, in response to said authentication, providing instructions by the server to transfer the payment amount from an originator financial account to a target financial account based on the target financial account information.

81. The method of claim 80, wherein the transfer includes debiting and crediting of one or more intermediary accounts.

82. The method of claim 80 wherein the transfer includes debiting the payment amount from the originator financial account.

83. The method of claim 80 wherein the transfer includes crediting the payment amount to the target financial account.

84. The method of claim 80, wherein the debit from the originator financial account occurs in a first time period and the credit to the target financial account occurs at a second time period.

85. The method of claim 80, further comprising the target approving the transfer.

86. The method of claim 80, wherein the originator financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, a prepaid card account, a line of credit account, and an electronic financial account.

87. The method of claim 80, wherein the target financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, prepaid card account, a line of credit account and an electronic financial account.

88. The method of claim 80, wherein the target financial account information is selected from the group consisting of bank account number and bank routing information, a credit card account information, a debit card account information, a prepaid card account information and electronic financial account routing and settlement information.

89. The method of claim 80, wherein the target financial account information is used for routing and settling of the transfer to the target financial account.

90. The method of claim 80, wherein the transfer is cleared through an entity selected from a group consisting of inter-Facilitator transfer, an Electronic Funds Transfer network, a credit card network, a debit card network, a wire transfer network, an ATM network, an electronic check processing network, Automated Clearing House network and combination thereof.

91. The method of claim 75, wherein the second alias, second transaction identifier, and target financial account information are received at a server in one or more messages.

92. The method of claim 91, wherein one or more messages including the second alias, second transaction identifier, and target financial account information is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, a system message, a peer to peer message, computer originated message, or a combination thereof.

93. The method of claim 91, wherein the one or more messages including the second alias, second transaction identifier, and target financial account information are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

94. The method of claim 71, wherein the server is operated by an entity that is selected from the group consisting of a Facilitator, payment processor, one or more financial institutions, and one or more payment networks.

95. The method of claim 71, wherein the first alias is selected from the group consisting of an email address, telephone number, mobile telephone number, mobile device number, and a landline telephone number.

96. The method of claim 71, wherein the first alias is an email address.

97. The method of claim 71, wherein the first alias is a telephone number.

98. The method of claim 71, further comprising sending an originator a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

99. The method of claim 71, further comprising sending the target a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

100. The method of claim 71, wherein the financial transaction is selected from the group consisting of a person to person payment transaction, person to entity payment transaction, entity to person payment transaction, entity to entity payment transaction.

102. The method of claim 71, wherein the first transaction identifier expires after a preconfigured period of time.

103. The method of claim 71, wherein the previously stored first transaction identifier is provided by the originator to the server.

104. The method of claim 71, wherein the previously stored first transaction identifier is automatically generated by the server.

105. The method of claim 71, wherein the first transaction is between a first originator and the target.

106. The method of claim 71, wherein the first transaction identifier is selected from the group consisting of an email address, a telephone number a numeric string an alphanumeric string, hash identifier, coded URL, coded string, or combination thereof.

107. The method of claim 71, wherein the second transaction identifier is selected from the group consisting of an email address, a telephone number a numeric string an alphanumeric string, hash identifier, coded URL, coded string, or combination thereof.

108. The method of claim 71, wherein the first transaction identifier is embedded in a coded uniform resource locator (URL).

109. The method of claim 71, wherein the stored first alias provides financial account confidentiality to the target.

110. The method of claim 71, wherein the second transaction identifier is embedded in a coded uniform resource locator (URL).

111. A method of conducting financial transactions, comprising:

sending a message to a target from a server using an alias for the target, wherein the message provides instructions for the target to access the server to receive a payment amount and the message includes a first transaction identifier for a first transaction;

receiving, at the server, a second transaction identifier for the first transaction;

searching for the previously stored first transaction identifier in a database based on the second transaction identifier;

authenticating by at least matching the second transaction identifier with the first transaction identifier in the database.

112. The method of claim 111, further comprising receiving at the server the alias and the payment amount in one or more messages.

113. The method of claim 112, wherein one or more messages including alias and payment amount is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, a system message, a peer to peer message, computer originated message, or a combination thereof.

114. The method of claim 112, wherein the one or more messages including alias and payment amount are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

115. The method of claim 111, further comprising receiving, at the server, a target financial account information.

116. The method of claim 115, further comprising storing and linking the target financial account information to the alias in the database.

117. The method of claim 115, further comprising in response to the authentication, providing instructions by the server to transfer the payment amount from an originator financial account to a target financial account based on the target financial account information.

118. The method of claim 117, wherein the transfer includes debiting and crediting of one or more intermediary accounts.

119. The method of claim 117, wherein the debit from the originator financial account occurs in a first time period and the credit to the target financial account occurs at a second time period.

120. The method of claim 117, further comprising the target approving the transfer from the originator financial account to the target financial account.

121. The method of claim 117, wherein the originator financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, a prepaid card account, a line of credit account, and an electronic financial account.

122. The method of claim 117, wherein the target financial account is selected from the group consisting of a bank account, a credit card account, a debit card account, prepaid card account, a line of credit account and an electronic financial account.

123. The method of claim 117, wherein the target financial account information is selected from the group consisting of bank account number and bank routing information, a credit card account information, a debit card account information, a prepaid card account information and financial account routing and settlement information.

124. The method of claim 117, wherein the target financial account information is used for routing and settling of the transfer to the target financial account.

125. The method of claim 117, wherein the transferring of the payment amount is cleared through an entity selected from a group consisting of inter-Facilitator transfer, an Electronic Funds Transfer network, a credit card network, a debit card network, a wire transfer network, an ATM network, an electronic check processing network, Automated Clearing House network and combination thereof.

126. The method of claim 116, wherein the storing and linking target financial account information to the alias is approved by the target.

127. The method of claim 116, further comprising:

receiving the alias and a subsequent payment amount for a subsequent transaction at a server;

retrieving target financial account information based on the received alias from the database;

providing instructions by the server to transfer the subsequent payment amount from an originator financial account to a target financial account based on target financial account information.

128. The method of claim 127, wherein the subsequent transaction is between a subsequent originator and the target.

129. The method of claim 115, wherein the second transaction identifier, and target financial account information are received at a server in one or more messages.

130. The method of claim 129, wherein one or more messages including second transaction identifier, and target financial account information is selected from the group consisting of a text message, email message, message initiated from a web browser, a message initiated from a mobile application, a message initiated from interactive voice response system, a wireless network message, an Internet Protocol type message, a system message, a peer to peer message, computer originated message, or a combination thereof.

131. The method of claim 111, further comprising sending an originator a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

132. The method of claim 129, wherein the one or more messages including second transaction identifier, and target financial account information are originated from a device that is selected from the group consisting of a computer, computer browser, point-of-sale device, mobile phone, mobile device or a landline telephone or combination thereof.

133. The method of claim 117, further comprising debiting the payment amount from the originator financial account.

134. The method of claim 117 further comprising crediting the payment amount to the target financial account.

135. The method of claim 111, wherein the server is operated by an entity that is selected from the group consisting of a Facilitator, payment processor, one or more financial institutions, and one or more payment networks.

136. The method of claim 111, further comprising sending the target a confirmation message to confirm that the transfer of the payment amount has been completed in a message selected from a group consisting of an email message, a text message, and an electronic message from server to client.

137. The method of claim 111 wherein the financial transaction selected from the group consisting of a person to person payment transaction, person to entity payment transaction, entity to person payment transaction, entity to entity payment transaction.

138. The method of claim 137, wherein entity is selected from the group consisting of an individual person, for-profit company, non-profit organization, government entity or combination thereof.

139. The method of claim 111, wherein the first transaction identifier expires after a preconfigured period of time.

140. The method of claim 111, wherein the previously stored first transaction identifier is provided by the originator to the server.

141. The method of claim 111, wherein the previously stored first transaction identifier is automatically generated by the server.

142. The method of claim 111, wherein the first transaction identifier is selected from the group consisting of an email address, a telephone number a numeric string an alphanumeric string, hash identifier, coded URL, coded string, or combination thereof.

143. The method of claim 111, wherein the second transaction identifier is selected from the group consisting of an email address, a telephone number a numeric string an alphanumeric string, hash identifier, coded URL, coded string, or combination thereof.

144. The method of claim 111, wherein the first transaction identifier is embedded in a coded uniform resource locator (URL).

145. The method of claim 111, wherein the alias is selected from the group consisting of an email address, telephone number, mobile telephone number, mobile device number, and a landline telephone number.

146. The method of claim 111, wherein the alias is an email address.

147. The method of claim 111, wherein the alias is a telephone number.

148. The method of claim 111, wherein the first transaction is between a first originator and the target.

149. The method of claim 111, wherein the second transaction identifier is embedded in a coded uniform resource locator (URL).