Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Electronic shopping
Patent
1997-11-12
1999-11-23
Cosimano, Edward R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Electronic shopping
235375, 3408253, 34082531, G06F 1760
Patent
active
059917385
ABSTRACT:
An automated payment system particularly suited for purchases over a distributed computer network such as the Internet. In such a distributed computer network, a merchant or vending computer contains certain promotional information which is communicated to a customer's computer. Based upon the promotional information, the operator of the customer's computer decides to purchase the services or goods described by the promotional information. The customer's computer is linked to a payment processing computer and the customer's credit card number and the amount of the goods or services is transmitted to the payment processing computer. The payment processing computer automatically contacts a bank for verification of the credit card and amount; the bank transmits an authorization to the payment processing computer. The payment processing computer communicates a self-generated transaction indicia, and in some embodiments a password, to the customer's computer. In the embodiment where a password is used, the customer's computer uses the password with the merchant's computer in obtaining access to protected information or to establish shipping instructions.
REFERENCES:
patent: 5206488 (1993-04-01), Teicher
patent: 5220501 (1993-06-01), Lawlor et al.
patent: 5351296 (1994-09-01), Sullivan
patent: 5420405 (1995-05-01), Chasek
patent: 5511122 (1996-04-01), Atkinson
patent: 5515307 (1996-05-01), Aiello et al.
patent: 5557518 (1996-09-01), Rosen
patent: 5608801 (1997-03-01), Aiello et al.
patent: 5621797 (1997-04-01), Rosen
patent: 5627972 (1997-05-01), Shear
patent: 5629982 (1997-05-01), Micali
patent: 5642419 (1997-06-01), Rosen
patent: 5671280 (1997-09-01), Rosen
patent: 5703949 (1997-12-01), Rosen
patent: 5710887 (1998-01-01), Chelliah et al.
patent: 5724424 (1998-03-01), Gifford
patent: 5729594 (1998-03-01), Klingman
patent: 5802497 (1998-09-01), Manasse
patent: 5809144 (1998-09-01), Sirbu et al.
patent: 5815657 (1998-09-01), Williams et al.
patent: 5822737 (1998-10-01), Ogram
patent: 5850442 (1998-12-01), Muftic
Online Resources & Commun: "Electronic Transactions"; press release, Aug. 1993.
"First Data Brings Secure Payment Processing to the Internet with Netscape Communications Software"; Netscape press release; Mountin View, California, Nov. 1994.
"Wal-Mart to Operate Microsoft Programs for On-Line Sales"; Wall Street Journal, No Date.
Clark; "Oracle to Make Net Software With VeriFone"; Wall Street Journal, No Date.
Wells Fargo Bank et al; "Internet Cash & Carry Will offer merchants secure credit/debit transactions on the Internet in cooperation with Cybercash"; press release, Dec. 1994.
Spyglass et al: "Internet tools vendors prep for commerce"; press release, Dec. 1994.
Wells Fargo: "Wells Fargo secured spot for Internet shopping"; press release, Mar. 1995.
Twin County Grocers; "N.J. grocer installs online debit card reader for food stamp transactions Installs online debt card reder that can process food stamp, credit and debit transactions"; press release, Apr. 1995.
Visa Intl et al: "Visa and Microsoft Publish Open Specifications to Enable Secure Transactions on the Internet"; press release, Sep. 1995.
Checkfree Corp.; "Checkfree gives secure Internet transactions top billing"; press release, Oct. 1995.
Netscape Communications et al: "Visa & Mastercard at Odds"; press release, Oct. 1995.
ISED Corporation; "New low-cost Hardware provides secure Financial Transactions via telephone and the internet"; press release, Nov. 1995.
"Commerce is slow to hit the Net"; press prelease, Nov. 1995.
MCI Communcation; "MCI diversifying through move into music business Launching a svc that sells compact discs & cassettes directly to the home via Internet & phones"; press release, Nov. 1995.
British Midland Airways; "BM Claims to be First Internet Booking Airline"; press release, Dec. 1995.
"IETF directs focus on Net standards; Seeks to reconcile security protocols"; press release, Dec. 1995.
Cybercash; "Virtual credit-card swiper maks banks feel secure Offers Internet users & merchants the ability to transact credit card payments over the Internet"; press release, Dec. 1996.
"Accept Credit Cards and Money Payments Over the Web! Totally Secure, Automated and Operational!", Jan. 1996.
Online Resources & Commun TransPhone; "TransPhone Accesses Online Resources' Banking Technology; Leading Protocol Adds Hundreds of Financial Services to Transaction Appliance"; press release, Jan. 1996.
Frieder the Source: press release, Jan. 1996.
Oracle Corp. and Verifone Inc.; press release, Feb. 1996.
Set Protocol press release from America Online, Feb. 1996.
NDC and CyberCash press release from America Online, Mar. 1996.
"Secure transaction Technology Specifications"; Visa International Service association and Microsoft Corporation; Version 1.0, 1995.
LandOfFree
Automated credit card processing does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Automated credit card processing, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Automated credit card processing will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-1234189