Mediation of transactions by a communications system

  • US 5,329,589 A
  • Filed: 06/03/1993
  • Issued: 07/12/1994
  • Est. Priority Date: 02/27/1991
  • Status: Expired due to Term
First Claim
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1. A method of employing a communications routing system of a type which functions generally to establish connections with arbitrary ones of a plurality of entities to in addition mediate a transaction involving delayed payment between certain ones of the entities including a customer, a vendor, and an approving entity which approves the transaction, the method comprising the steps of:

  • receiving a transaction specifier from the customer in the communications routing system; and

    responding in the communications routing System to the transaction specifier by performing steps includingobtaining at least an identifier known to the approving entity from the customer,obtaining at least a debit amount from the vendor,providing the identifier and the debit amount to the approving entity,receiving an indication from the approving entity whether the transaction is approved, andproviding the indication to the vendor, the communications routing system functioning during the steps to establish connections with the certain ones of the entities as required for the steps.

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