Consolidated payment account system and method
First Claim
1. A method for providing a payment for an on-line transaction comprising the steps of:
- providing a consolidated account configured to store value, storing the value in the consolidated account, and making a payment with the stored value.
1 Assignment
0 Petitions
Accused Products
Abstract
The present invention provides a system and method for providing and/or facilitating complete on-line payment services while protecting the privacy of the transaction participants. The comprehensive payment service is based upon a consolidated account used to store value acquired through on-line transactions. The invention provides private payment numbers for protecting the identities of the participants and includes processes for authenticating participants, authorizing transactions, and settling payments. Thus, the present invention enables merchants to effectively accept non-standard forms of payment without changing their current payment infrastructures and enables the provision of value for purchases at any network merchant using any source of value.
294 Citations
51 Claims
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1. A method for providing a payment for an on-line transaction comprising the steps of:
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providing a consolidated account configured to store value, storing the value in the consolidated account, and making a payment with the stored value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25)
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- 26. A system for providing a payment for an on-line transaction, the system comprising an account administrator in communication with a transaction administrator and one or more value sources, the transaction administrator configured to perform the steps of providing a consolidated account configured to store value, storing value in the consolidated account, and settling the payment with the stored value.
Specification