Method, apparatus and program to make payment in any currencies through a communication network system using pre-paid cards
First Claim
1. An user to user payment method over a network under payer'"'"'s control, comprising:
- providing an Internet System connected to a host server having a database to transfer stored funds in any currencies over said network, said method comprising;
said host server prompting payer to input payer'"'"'s account identifier and password;
said host server authenticating the payer'"'"'s account identifier and password for validity;
said host server prompting the payer to input payee'"'"'s account identifier and fund transfer information;
said host server receiving said payee'"'"'s account identifier and said fund transfer information;
said host server upon authenticating the payee'"'"'s account identifier, instantly crediting the fund to the payee'"'"'s account upon determining balance in the database associated with the payer account identifier and password is more than the fund for transfer;
said host server instantly debiting the balance associated with the payer'"'"'s account identifier and password in the database with said fund transferred to said payee'"'"'s account;
whereby said stored fund is deposited from a prepaid card into an account linked to an user created identifier; and
whereby said transfer is made without interacting with said payee and independently of said prepaid card.
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Accused Products
Abstract
This is a pre-paid card system used to store monetary value and subsequently for making payment to merchants through the telephone system or through a data network. Unlike static credit card numbers, this invention employs the generation of encrypted dynamic codes for each transaction, which must be verified within a specific time, for payment initiation. Codes are send by merchant when a purchase is agreed upon and each codes have a time limit to be used. Customers need to accept this codes and present them to the host computer to complete the payment process. Codes from both merchant and customer are decrypted at the host computer to produce the authenticated instructions for the payment. This invention also employs a unique formula to calculate stored value including in foreign currencies.
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Citations
18 Claims
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1. An user to user payment method over a network under payer'"'"'s control, comprising:
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providing an Internet System connected to a host server having a database to transfer stored funds in any currencies over said network, said method comprising; said host server prompting payer to input payer'"'"'s account identifier and password; said host server authenticating the payer'"'"'s account identifier and password for validity; said host server prompting the payer to input payee'"'"'s account identifier and fund transfer information; said host server receiving said payee'"'"'s account identifier and said fund transfer information; said host server upon authenticating the payee'"'"'s account identifier, instantly crediting the fund to the payee'"'"'s account upon determining balance in the database associated with the payer account identifier and password is more than the fund for transfer; said host server instantly debiting the balance associated with the payer'"'"'s account identifier and password in the database with said fund transferred to said payee'"'"'s account; whereby said stored fund is deposited from a prepaid card into an account linked to an user created identifier; and whereby said transfer is made without interacting with said payee and independently of said prepaid card. - View Dependent Claims (2, 3, 4, 13, 16)
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5. An Internet system for user to user fund transfer over a network comprising:
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a host server having a database to transfer stored funds in any currencies under payer'"'"'s control, wherein said server having a processor and non-transitory memory operatively coupled to the processor and having codes stored therein when executed the processor causes said host server to perform steps comprises; prompt payer to input payer'"'"'s account identifier and password; authenticate the payer'"'"'s account identifier and password for validity; prompt the payer to input payee'"'"'s account identifier and fund transfer information; receive said payee'"'"'s account identifier and said fund transfer information; authenticate the payee'"'"'s account identifier and upon authentication, instantly crediting the fund to the payee'"'"'s account upon determining balance in the database associated with the payer account identifier and password is more than the fund for transfer; instantly debiting the balance associated with the payer'"'"'s account identifier and password in the database with said fund transferred to said payee'"'"'s account; whereby said stored fund is deposited from a prepaid card into an account linked to an user created identifier; and whereby said transfer is made without interacting with said payee and independently of said prepaid card. - View Dependent Claims (6, 7, 8, 14, 17)
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9. A non-transitory computer readable storage medium storing codes that, when executed by a computer to perform steps comprising:
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prompt payer to input payer'"'"'s account identifier and password; authenticate the payer'"'"'s account identifier and password for validity; prompt the payer to input payee'"'"'s account identifier and fund transfer information; receive said payee'"'"'s account identifier and said fund transfer information; authenticate the payee'"'"'s account identifier and upon authentication, instantly crediting the fund to the payee'"'"'s account upon determining balance in the database associated with the payer account identifier and password is more than the fund for transfer; instantly debiting the balance associated with the payer'"'"'s account identifier and password in the database with said fund transferred to said payee'"'"'s account; whereby said stored fund is deposited from a prepaid card into an account linked to an user created identifier; and whereby said transfer is made without interacting with said payee and independently of said prepaid card. - View Dependent Claims (10, 11, 12, 15, 18)
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Specification