E-commerce sales and use tax exchange system and method

Details E-commerce sales and use tax exchange system and method E-commerce sales and use tax exchange system and method

2008-07-08

2008-07-08

Cheung, Mary (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S031000, C705S03600T

Reexamination Certificate

active

07398239

ABSTRACT:
The invention provides a system and method for calculating, collecting and/or disbursing one or more third party payments owed to one or more third parties resulting from one or more electronic transactions occurring over a wide area network (WAN) between a customer and a merchant. The transaction concern one or more services and/or products provided by the merchant. The system and method require that the calculation of the amount owed to the third party occur at a WAN node that is different than and at a different locale than that of the merchant. By so doing, the merchant is not required to purchase and install equipment and/or software of the third party to which a payment is due. The present system includes a merchant node, third party payment processing node, financial network, and third party payment receiving node. A consumer conducts a transaction at a merchant node. As a result of the transaction, a third party may or may not be due a payment. The third party payment processing node determines whether such payment is due, calculates the amount of the third party payment, and/or authorizes payment of the third party payment. The financial network, which includes at least the merchant's acquirer bank, the customer's credit card issuing bank and the credit car association, then handles payment of the amount(s) due to the third party, the amount(s) due to the merchant and the amount(s) owed by the customer. The system of the invention can be a fee for service type of system wherein those (the merchant or the third party) that employ the system and/or method pay a fee, for example per transaction or per amounts collected and disbursed, to the provider of the claimed system.

REFERENCES:
patent: 5644724 (1997-07-01), Cretzler
patent: 5774872 (1998-06-01), Golden et al.
patent: 5799283 (1998-08-01), Francisco et al.
patent: 5875433 (1999-02-01), Francisco et al.
patent: H001830 (2000-01-01), Petrimoulx et al.
patent: 6016479 (2000-01-01), Taricani, Jr.
patent: 6078899 (2000-06-01), Francisco et al.
patent: 6347304 (2002-02-01), Taricani, Jr.
patent: 6983261 (2006-01-01), Francisco et al.
patent: 2002/0052792 (2002-05-01), Johnson et al.
patent: 2002/0116302 (2002-08-01), Wilmes et al.
patent: 2002/0194123 (2002-12-01), Agee et al.
patent: 2002/0198832 (2002-12-01), Agee et al.
patent: 2003/0055754 (2003-03-01), Sullivan
patent: 2003/0061131 (2003-03-01), Parkan, Jr.
patent: 2005/0119953 (2005-06-01), Dang et al.
Stephen Kobrin, Territoriality and the Governance of Cyberspace, 2001, Journal of International Business Studies, vol. 32, No. 4, pp. 687-704.

Affiliated with

Also associated with

Rating

E-commerce sales and use tax exchange system and method does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with E-commerce sales and use tax exchange system and method, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and E-commerce sales and use tax exchange system and method will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-2777170