METHOD AND SYSTEM FOR TRANSFERRING AN ELECTRONIC PAYMENT
First Claim
1. A method for transferring an electronic payment between a purchaser and a merchant comprising:
- assigning a role of a merchant account to a first account and a role of a purchaser account to a second account within a payment system;
adding an item from a product catalog stored in the payment system to a purchase list;
obtaining a user ID token of a purchaser from a merchant terminal;
communicating identity confirmation information associated with the user ID token to the merchant terminal; and
transferring funds for the purchase price total from the purchaser account to the merchant account.
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Accused Products
Abstract
A method and system for transferring an electronic payment between a purchaser and a merchant that includes assigning a role of a merchant account to a first account and a role of a purchaser account to a second account within a payment system, adding an item from a product catalog stored in the payment system to a purchase list, obtaining a user ID token of a purchaser from a merchant terminal, communicating identity confirmation information associated with the user ID token to the merchant terminal, and transferring funds for the purchase price total from the purchaser account to the merchant account.
108 Citations
22 Claims
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1. A method for transferring an electronic payment between a purchaser and a merchant comprising:
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assigning a role of a merchant account to a first account and a role of a purchaser account to a second account within a payment system; adding an item from a product catalog stored in the payment system to a purchase list; obtaining a user ID token of a purchaser from a merchant terminal; communicating identity confirmation information associated with the user ID token to the merchant terminal; and transferring funds for the purchase price total from the purchaser account to the merchant account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A method for transferring an electronic payment between a purchaser and a merchant comprising:
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assigning a role of a merchant account to a first account and a role of a purchaser account to a second account within a payment system; adding at least one item from a product catalog stored in the payment system to a purchase list; providing a user ID token in the form of a barcode that is displayable on a purchaser terminal; obtaining a user ID token of a purchaser from a merchant terminal by scanning a purchaser terminal display of the barcode user ID; communicating identity confirmation information associated with the user ID token to the merchant terminal, wherein the identity confirmation information is an image of the owner of the purchaser account; receiving confirmation from the merchant terminal that the image matches the owner of the purchaser account; transferring funds for the purchase price total from the purchaser account to the merchant account; and recording the purchase list information as a transaction record for the merchant account and the purchaser account.
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20. A system for transferring an electronic payment between a purchaser and a merchant comprising:
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a payment system that manages transactions between the purchaser and the merchant and includes a payment system account database; a product catalog with categorized items that is hosted within the payment system; an account portal that connects an electronic terminal to the payment system through a network connection, and includes transaction interface tools and product catalog management tool; and wherein the account portal connects a purchaser to the payment system with a transaction interface for a purchaser and connects a merchant to the payment system with a merchant interface.
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21. A method performed over a payment network, the payment network comprising a plurality of merchant terminals connected to a plurality of payment servers, an accounts database, and a product catalog database, wherein each merchant terminal has an ID token reader, a display, and network capabilities, the method comprising the steps of:
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assigning the role of a merchant account to a first account from the accounts database and the role of a purchaser account to a second account from the accounts database; creating a purchase list with at least one item from the product catalog database; reading, with the ID token reader of a merchant terminal, the user ID token of a purchaser and sending the user ID token to a payment server; transmitting, from the payment server to the merchant terminal, identity confirmation information associated with the user ID token; transmitting, from the merchant terminal to the payment server, a payment approval communication; transferring, with the payment server, payment from the purchaser account to the merchant account.
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22. A method performed over a payment network, the payment network comprising a plurality of merchant terminals and purchaser terminals connected to a plurality of payment servers, an accounts database, and a product catalog database, wherein each merchant terminal has an ID token reader, a display, and network capabilities, the method comprising the steps of:
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assigning the role of a merchant account to a first account from the accounts database and the role of a purchaser account to a second account from the accounts database; creating a purchase list with at least one item from the product catalog database; transmitting, from the purchaser terminal to the merchant terminal, the user ID token of a purchaser and sending the user ID token to a payment server; transmitting, from the payment server to the merchant terminal, identity confirmation information associated with the user ID token; transmitting, from the merchant terminal to the payment server, a payment approval communication; transferring, with the payment server, payment from the purchaser account to the merchant account.
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Specification