Process and device for conducting electronic transactions

  • US 7,603,311 B1
  • Filed: 11/25/2000
  • Issued: 10/13/2009
  • Est. Priority Date: 11/29/1999
  • Status: Expired due to Fees
First Claim
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1. A method for conducting a transaction using a medium based on a receipt having payment remittance information, comprising:

  • enabling a payor to authorize a payment due on the receipt to a payee;

    associating, using a processor, the payment with the payment remittance information;

    communicating, using the processor, the payment instructions directly to the payee to initiate payment of the amount; and

    wherein the payment remittance information is arranged within a data structure, the data structure comprising one or more data fields to hold data that the payor can enter, and the payment remittance information further comprises a structured remittance data that is kept hidden from the payee.

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