Method and system for controlling certificate based open payment transactions
First Claim
1. A system for facilitating financial transactions over a network comprising:
- cellular phone programmed to include at least an identifying certificate, payment information, network routing instructions and an encryption program;
a first server for offering at least one product via the network through a terminal;
a processor connected to the terminal foraccessing the cellular phone,retrieving the identifying certificate, the payment information, the network routing instructions and the encryption program off of the cellular phone,attaching the identifying certificate to the payment information,encrypting the payment information with the attached identifying certificate via the encryption program, andsending the payment information with the attached identifying certificate across the network via the network routing instructions, anda second server connected to the network forreceiving the encrypted payment information with the attached identifying certificate,decrypting and reading the encrypted payment information with the attached identifying certificate,authorizing a payment requested via the payment information, andnotifying the first server of the authorization.
2 Assignments
0 Petitions
Accused Products
Abstract
Methods and systems for controlling certificate-based open payment transactions involving a merchant and a customer utilizing various types of networks and terminals. Prior to accessing a merchant POS terminal or, for example, a merchant website, a customer obtains a certificate from a service provider (SP), such as a bank, certifying his identification (ID) and his relevant financial information, in a form that is understandable by the SP. The SP is capable of performing multiple functions. For example, the SP is capable of acting as a certificate authority when it issues the customer'"'"'s certificates, an authenticator when it receives private-key encrypted certificates from the customers to be decrypted using the corresponding public-key, and an authorizing authority when it checks the value available in a customer'"'"' chosen payment account against the requested purchase or transfer amount.
28 Citations
19 Claims
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1. A system for facilitating financial transactions over a network comprising:
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cellular phone programmed to include at least an identifying certificate, payment information, network routing instructions and an encryption program; a first server for offering at least one product via the network through a terminal; a processor connected to the terminal for accessing the cellular phone, retrieving the identifying certificate, the payment information, the network routing instructions and the encryption program off of the cellular phone, attaching the identifying certificate to the payment information, encrypting the payment information with the attached identifying certificate via the encryption program, and sending the payment information with the attached identifying certificate across the network via the network routing instructions, and a second server connected to the network for receiving the encrypted payment information with the attached identifying certificate, decrypting and reading the encrypted payment information with the attached identifying certificate, authorizing a payment requested via the payment information, and notifying the first server of the authorization. - View Dependent Claims (2)
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3. A system for performing a financial transaction comprising:
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means for presenting a customer with an amount due in response to a customer'"'"'s product selection; means for communicating with a customer'"'"'s cellular phone by a terminal to facilitate payment of the amount due; means for accessing a portion of the customer'"'"'s cellular phone containing payment information, wherein the payment information includes at least network address instructions for an issuer, a digital certificate for identifying the customer, the customer'"'"'s financial account information, an encryption program, and a customer memo balance containing updated customer account balances; means for identifying the customer through the digital certificate; means for receiving a customer'"'"'s account selection; means for checking a customer'"'"'s memo balance for the selected account to determine if funds therein are sufficient to pay the amount due; means for downloading the payment information from the cellular phone to a memory portion of the terminal; means for storing the payment information from the cellular phone in a memory portion of the terminal for future processing of the financial transaction; means for releasing the selected product to the customer; and means for uploading the payment information to the issuer for further processing and settlement of the financial transaction. - View Dependent Claims (4, 5)
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6. A method for facilitating a financial transaction over a first network comprising:
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issuing software for installation on a cellular phone of a customer, wherein the cellular phone comprises an encryption program, wherein the cellular phone is configured to be programmed to include a customer identification profile, financial account information of the customer, and a private/public key pair using the encryption program; issuing software to a merchant, wherein the software includes payment information of the merchant including a merchant'"'"'s financial account information and further wherein the software is capable of interacting with the customer'"'"'s cellular phone over a first network; adding, by a computer, the merchant'"'"'s payment information to payment instructions transmitted over the first network from the customer'"'"'s cellular phone to a programmable memory device of the merchant, which is configured to store the merchant'"'"'s payment information; and routing, by a computer, the payment information and the payment instructions for settlement processing of the financial transaction. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for performing a financial transaction comprising:
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presenting a customer with an amount due in response to a customer'"'"'s product selection; accepting a customer'"'"'s cellular phone by a merchant'"'"'s terminal to facilitate payment of the amount due; accessing a portion of the customer'"'"'s cellular phone containing payment information, wherein the payment information includes at least network address instructions for an issuer of the customer'"'"'s cellular phone, a digital certificate for identifying the customer, the customer'"'"'s financial account information, and an encryption program; identifying the customer through the digital certificate; downloading the payment information from the cellular phone to a memory portion of the merchant'"'"'s terminal; storing the payment information from the cellular phone in a memory portion of the merchant'"'"'s terminal for settlement processing of the financial transaction along with at least one other financial transaction, wherein the selected product is released to the customer upon receipt of the payment information; and uploading the payment information to the issuer of the cellular phone for further processing and settlement of the financial transaction. - View Dependent Claims (17, 18, 19)
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Specification