Method and system for performing electronic money transactions

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Patent

Rate now

  [ 0.00 ] – not rated yet Voters 0   Comments 0

Details

705 40, 380 21, 380 24, 380 33, H04L 900

Patent

active

060291516

ABSTRACT:
The present invention relates to electronic monetary systems in general, and in particular to measures for making their use easier for an average user. The present invention is based on the idea that the use of electronic money is greatly simplified for a non-expert user, if the Internet Service Provider of the user takes care of the payments, and adds corresponding charges on the user's telephone bill. Such functionality requires the intervention of the ISP in the transmissions between a user and a third party, i.e. intercepting the electronic payment requests sent by a merchant. According to the present invention, the ISP uses electronic money on behalf of the user, and charges the payments on the user's telephone bill. The ISP can take care of all technical details necessary for obtaining different forms of electronic money in a centralized manner, and all users of the ISP can use the electronic money obtained by the ISP simply by allowing the ISP to add corresponding charges to their telephone bills. Further, the ISP can obtain all major forms of electronic money, whereafter a user can choose the most economical way of payment, if a merchant accepts payments in more than one form of electronic money.

REFERENCES:
patent: 5221838 (1993-06-01), Gutman et al.
patent: 5311572 (1994-05-01), Friedes et al.
patent: 5455407 (1995-10-01), Rosen
patent: 5590197 (1996-12-01), Chen et al.
patent: 5655008 (1997-08-01), Futch et al.
patent: 5671280 (1997-09-01), Rosen
patent: 5704046 (1997-12-01), Hogan
patent: 5745886 (1998-04-01), Rosen
patent: 5873072 (1999-02-01), Kight et al.
patent: 5884288 (1999-03-01), Chang et al.

LandOfFree

Say what you really think

Search LandOfFree.com for the USA inventors and patents. Rate them and share your experience with other people.

Rating

Method and system for performing electronic money transactions does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Method and system for performing electronic money transactions, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Method and system for performing electronic money transactions will most certainly appreciate the feedback.

Rate now

     

Profile ID: LFUS-PAI-O-528962

  Search
All data on this website is collected from public sources. Our data reflects the most accurate information available at the time of publication.