METHOD AND APPARATUS FOR INTEGRATED PAYMENTS PROCESSING AND DECISIONING FOR INTERNET TRANSACTIONS

• US 20080162317A1
• Filed: 12/26/2007
• Published: 07/03/2008
• Est. Priority Date: 10/31/2000
• Status: Active Grant

• Current Assignee: David Potter, George Luis Wood, Michelle Banaugh, Peggy J. Fry
• Original Assignee: David Potter, George Luis Wood, Michelle Banaugh, Peggy J. Fry
• Inventors: POTTER, David, WOOD, George Luis, BANAUGH, Michelle, FRY, Peggy J.
• Granted Patent: US 8,204,826 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/403 Solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method and apparatus provides a decisioning solution for merchants accepting Internet transactions, integrated with means for processing payments electronically. The invention claimed herein provides features, such as, but not limited to, electronic transfer of funds, authentication of parties, seemless integration with merchant'"'"'s Web page, and reporting of suspicious activity.

Claims

1. An apparatus that provides a decisioning solution to a merchant, wherein said merchant accepts Internet transactions from participating parties and that facilitates processing of payments between said participating parties and said merchant, comprising, the option of:

sending a first transaction message from said merchant, comprising source and order identifiers, to an enterprise decision engine;

responsive to said first transaction message, said decision engine authenticating, reporting suspicious activity, and creating a decisioning solution which is sent to said merchant;

responsive to said decisioning solution, sending a second message from said merchant to said decision engine;

responsive to receipt of said second message creating a third message in NACHA format if said second transaction message is based on an electronic check, or in an FDMS format if said second transaction message is based on a credit card; and

responsive to said second transaction message, said decision engine determining and indicating approval for shipment by said merchant using risk analysis and guaranteeing payment to said merchant and insurance against fraud after shipment.