Space efficient method of electronic payments

Details Space efficient method of electronic payments Space efficient method of electronic payments

1996-11-25

1999-09-14

Hajec, Donald

Registers

Systems controlled by data bearing records

Banking systems

380 24, G06F 1530

Patent

active

059526386

ABSTRACT:
A method of space efficient electronic payments. A customer initiates an electronic transaction by transmitting a request for payment information to a seller. In response, the customer receives from the seller the payment information needed to generate an electronic payment. The customer determines the reliability of the payment information by authenticating it. If the payment information is authenticated, then the customer generates an electronic payment using the payment information and a master key unknown to the seller. Finally, the customer transmits the electronic payment to the seller along with a request for desired goods and/or services.

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